Critica (ASX:CRI) said a scoping study outlined an underground development pathway for its Mt Lindsay project in Tasmania at a production rate of 1 million tonnes per year, according to a Tuesday filing with the Australian bourse.

Base Case economics indicate "strong" modeled outcomes, including after-tax net present value of about AU$1.01 billion and internal rate of return of roughly 56% and estimated payback period of about 1.9 years, the filing said.

The study also modeled life-of-mine sales revenue of roughly AU$5.2 billion and estimated pre-production capital of about AU$244.5 million, per the filing.

Shares rose 13% in morning trade Tuesday.