A feasibility study produced for the project was filed in March 2023 outlining a construction period of three years at a cost of C$1.16 billion to develop a mine with a 10-year life. During that time, 90.9 million lb. of uranium oxide (U3O8) will be produced.
The PLS has robust post-tax economics, including an internal rate of return of 27.2%, a net present value at an 8% discount of C$1.20 billion, and a payback period of 2.6 years.
The shallow, high-grade Triple R deposit is the basis of mine plan, beginning with the R780E and R840W zones. There is future opportunity to upgrade resources at the R1515W and R1620E zones, but they are not included in the current plan.
The indicated resource contains 114.9 million lb. U3O8 in 2.7 million tonnes of material that grades 1.94% U3O8. Within that resource is a probable reserve of 3.0 million tonnes grading 1.41% U3O8. A cut-off grade of 0.25% U3O8 was used. Material in the inferred…
