Long term uranium price of US$65 / lb U 3O 8
Process recovery of 95%, supported by metallurgical testworkĪn average of 13 million lbs U 3O 8 per year for 6 years, followed by an average of 3 million lbs U 3O 8 per year for 8 years. Underground mining of 3.25 million tonnes at 0.42% U 3O 8 Open pit mining of 1.56 million tonnes at 2.21% U 3O 8 Total Tonnes Processed: 4.8 million tonnes at 1.00% U 3O 8 average grade Three years of pre-production and 14 year mine life, processing nominally 1,000 tonnes per day (350,000 tonnes per year) The development scenario does not require any new, untested, conceptual mining or construction methods. The PEA proposes a system of dykes and slurry walls - proven techniques successfully implemented at a number of Canadian mining operations, including the Diavik diamond mine and the Meadowbank gold mine. In addition to managing radiological issues common to high-grade uranium mining, a key technical challenge to developing the operation will be water control related to Patterson Lake and saturated sandy overburden. (environmental and radiological considerations). (geotechnical aspects), DRA Taggart (process and infrastructure), and Arcadis Canada Inc.
The PEA was prepared by independent consultants led by RPA Inc., who carried out resource estimation and mining work, assisted by BGC Engineering Inc. Additionally, a mill at PLS has the potential to become a key centerpiece for the Western Athabasca Basin - with the potential to process ore from other high-grade projects in the region as they are taken into production." It's also important to note that the recently discovered, high-grade R600W zone, which was not included in the PEA, has the potential to add a great deal to the bottom line as the Triple R continues to grow. With anticipated operating costs of US$14.02/lb and a pre-tax IRR of 46.7%, we are looking at low cost production with a payback and highly profitable life of mine. The study confirms this unique deposit is a robust project with very strong economics. "This PEA is an incredibly important milestone, and shows the viability of development and profitability of the unique, shallow, large and high-grade Triple R uranium deposit. Ross McElroy, President, COO, and Chief Geologist for Fission, commented, Although not included in the PEA production schedule, definition drilling continues to expand the known mineralization since the discovery of high-grade mineralization within R600W zone during the winter 2015 drill program (see news release March 01, 2015). These results may be further enhanced with the addition of the R600W zone discovered 495m along strike to the west of R00E zone. This hybrid open pit and underground mining results in an OPEX cost of US$14.02/lb U 3 O 8 over the life of mine, making Triple R potentially one of the lowest cost uranium producers in the world. High-grade mineralization (above 4% U 3O 8) is captured within the open pit, eliminating the need for expensive, specialized underground mining methods. The study envisions a combination of open-pit and underground mining, with a dyke system (dyke and slurry wall) for water control. (Base case using US$65/lb U 3O 8 and an exchange rate of US$0.85:C$1.00). Pay back estimated at 1.4 years (pre-tax), pay back at 1.7 year (post-tax)Įstimated initial capital costs ("CAPEX") of $1.1 billionĪverage operating costs ("OPEX") of US$14.02/lb U 3O 8 over the life of mine Mine life of 14 years producing an estimated 100.8 million pounds of yellowcake at a metallurgical recovery of 95% with 77.5 million pounds of U 3O 8 recovered in the first 6 years of productionĪverage annual production of 7.2 million lbs U 3 O 8 over the life of mineīase case pre-tax Net Cash Flow over the proposed mine life of $4.12 billion, post-tax Net Cash Flow of $2.53 billionīase case pre-tax Internal Rate of Return ("IRR") of 46.7%, post-tax IRR of 34.2% ("RPA").īase case pre-tax Net Present Value ("NPV") of $1.81 billion, post-tax NPV of $1.02 billion (10% discount rate) (" Fission" or " the Company") ( FCU.TO)( FCUUF)( 2FU.F) is pleased to announce the summary results of a National Instrument 43-101 compliant Preliminary Economic Assessment ("PEA") for the high-grade uranium resource identified to date on the Triple R Uranium Deposit, at its 100% owned PLS property in Canada's Athabasca Basin region.
KELOWNA, BRITISH COLUMBIA-(Marketwired - Sept.
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