Shares in Toronto-listed Canarc Resources jumped 15% on Wednesday as the company announced an update of its 2019 preliminary economic assessment (PEA) of the high-grade New Polaris gold mine project in British Columbia, reflecting a higher gold price.
The 2019 PEA is based on a base case gold price of $1 300/oz and an Canadian to US dollar exchange rate of 0.77. This generated an after-tax net present value (NPV) of $216-million and an internal rate of return of 38%.