12:15 PM EST, 01/06/2025 (MT Newswires) -- US Copper ( USCUF ) shares doubled on Monday after it provided the results of a preliminary economic assessment (PEA) on its Moonlight-Superior Copper Project in Northeast California showing the site can support a US$956-million mining project.

The company said the assessment showed the property could produce 903,000 short tons of copper, 12-million ounces of silver and 63,000 ounces of gold from five planned open pits over a 14-year life.

"The Moonlight-Superior PEA confirms the substantial economic opportunity at current copper prices that can be realized through the development of a series of open pit mines on the property. Additionally, the Project offers considerable leverage to increasing copper prices and the potential available from resource expansion drilling," said Chief Executive Stephen Dunn.

Dunn added that the company intends to use these results to attract a joint venture partner as it proceeds to the pre-feasibility stage.

"Life of mine taxes are estimated at over US$600 million and beyond the capital and labour intensive construction phase, we anticipate that there will be more than 300 full time jobs created at the mine site with a peak annual payroll in the range of $35 million," Dunn added.

The company said the project economics shown in the PEA are favorable, providing positive net present value (NPV) values as tested over a range of copper grades, copper prices, capital costs, and operating costs.

Shares of the company were last seen up C$0.02 at C$0.06 on the TSX Venture Exchange.

Price: 0.06, Change: +0.02, Percent Change: +50.00