https://money.tmx.com/en/quote…_a_Maiden_Mineral_Reserve
Global Atomic Completes Phase 1 Dasa Project Feasibility Study and Issues a Maiden Mineral Reserve
Feasibility Study Confirms PEA Project Capital and Lowest-Quartile Operating Costs
All monetary amounts are in U.S. dollars, unless otherwise indicated.
TORONTO , Nov. 15, 2021 /CNW/ - Global Atomic Corporation ("Global Atomic" or the "Company"), (TSX: GLO) (OTCQX: GLATF) (FRANKFURT: G12) announced today the results of the Phase 1 Dasa Project Feasibility Study (the "Study") for the Company's Dasa Uranium Project (the "Project") in the Republic of Niger.
The Study confirms that the Project is economically compelling, even at a price of $35 per pound U 3 O 8 . Based on the Study, the strong uranium market and anticipated uranium supply deficits, the Board of Directors have made a production decision to proceed with the Dasa Project. The Study is focused solely on Phase 1, primarily comprised of the Flank Zone, and represents the initial 12 years of the Project and less than 20% of the Dasa mineralization, which has been delineated through 160,000 metres of drilling since 2010. The Study is an update from the Preliminary Economic Assessment (the "PEA") filed in May 2020.
The Dasa Project is located in Niger's Tim Mersoï Basin, which has successfully produced uranium for export to France , the United States and other countries for 50 years, contributing to Niger's status as the 5 th largest exporter of U 3 O 8 for use in nuclear power plants.
Highlights
- Study Base Case price is $35 per pound U 3 O 8
- After-tax NPV 8 of $157 million and after-tax IRR of 22.7%
- Cash cost (1) of $18.91 per pound
- All-in sustaining cost (2) of $21.93 per pound
- Steady-state mill recovery rate of 94.15%
- Average annual steady-state uranium production of 3.8 million pounds U 3 O 8
- $208 million capital costs include a 10% contingency
- Mining reserve of 4.3 million tonnes grading 5,184 ppm U 3 O 8
- Recovering 45.4 million pounds U 3 O 8 over 12 years
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Forsys launches strategic review of Namibia uranium project
Toronto- and New York-listed Forsys Metals has appointed advisers Bacchus Capital to conduct a strategic review of its Norasa uranium project, in Namibia, given the “misalignment of flat or declining supply, versus growing demand”.
“The Norasa uranium project is one of the few post-DFS [definitive feasibility study], construction ready, uranium projects with a mining licence, which positions this asset as one of the only projects in the world able to potentially benefit from the near to mid-term expected supply shortages,” CEO Mark Frewin said on Monday.
The strategic review will consider, evaluate and compare a broad selection of potential options for the purpose of identifying opportunities to maximise the value of Norasa for the company’s shareholders.
Situated 25 km from Rio Tinto’s historically significant Rössing uranium mine, the Norasa project has mineral reserves of 90.7-million pounds of uranium oxide (U3O8). The completed DFS confirmed Norasa’s robust economics, with a 32% internal rate of return, a pre-tax net present value of $663-million, and $1.175-billion operating cash flow.
The Norasa plant throughput is expected to be 11.2-million tons a year, producing an average of 5.2-million pounds a year of U3O8.
https://www.miningweekly.com/a…anium-project-2021-11-16/
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