Analytics platform Stormlands Mining has published a new independent case study on the MPD project, in British Columbia, using its AI-first mining valuation platform to model the project economics from publicly available technical information.

Using the 2025 mineral resource estimate on the project, Stormlands created an independent illustrative economic model of the project ahead of MPD having an officially published preliminary economic assessment (PEA).

MPD is currently being explored and developed by Kodiak Copper.

Stormlands’ base case model produces an illustrative post-tax net present value (NPV) of $315-million, at a 5% discount rate, with an internal rate of return (IRR) of 15.5% and payback of six years and two months after the start of production.

The base case model assumes commodity prices of $9 259/t for copper, $2 600/oz for gold and $30/oz for silver.

In the company’s second illustrative scenario, which uses updated commodity prices as of March, the NPV increases to $743-million, the IRR increases to 27.7% and the payback period improves to three years and seven months.

The updated scenario uses more recent copper, gold and silver prices of $12 499/t, $4 877/oz and $74.91/oz, respectively.

Life-of-mine (LoM) revenue increases from about $2.15-billion in the base case to about $3.23-billion under the updated commodity price scenario. In turn, LoM earnings also increase from $1.44-billion in the base case scenario to $2.5-billion in the updated price scenario.

Stormlands’ modelling shows that MPD is most sensitive to overall commodity price deck and copper price assumptions, with copper being the dominant individual metal value driver. A 10% reduction in the copper price reduces the project’s NPV to about $249-million, while a 10% increase in the copper price lifts the NPV to $382-million.

Gold still provides a meaningful secondary value contribution for the MPD project, while silver has a limited impact on the project value under Stormlands’ modelled assumptions.

Stormlands ultimately deduces that MPD remains positive across the tested price scenarios but with a wide range of valuation outcomes.

For Stormlands chief product officer Phil O’Connell, the MPD analysis is an important case study because it shows a different use case for Stormlands.

“There is no published PEA for MPD, so this is not about replicating an existing economic study. It is about showing how technical disclosure from a mineral resource estimate can be converted into an illustrative economic model, so that analysts and project teams can start asking better valuation questions earlier,” he explains.  

O’Connell adds that a static technical report gives companies the resource, however, a dynamic model helps them understand how the economic interpretation of that resource changes as market conditions change.

The MPD case study is the latest release from the Stormlands Library, a growing repository of interactive mining asset valuation models designed to help users understand the key drivers of mining project economics.

The MPD case study follows Stormlands’ earlier Rovina Valley and Whistler project analyses and forms part of the company’s plan to build a global library of mining asset valuation models.

The Stormlands Library is intended to provide a structured source of mining project models, enabling users to screen assets, benchmark projects and test assumptions.