Creating long term shareholder value through the progression of majority owned assets along the value chain.
Kamushanovskoye Uranium Project,
- Peat hosted uranium oxide deposit with near-term, near-surface, low-cost, ISR production potential.
- Under Option Agreement with USA incorporated owners International Mining Company Invest Inc (“IMC”).
- JORC compliant Uranium Resource:
- Indicated: 3.657 M lbs U3O8 @ 0.011% (0.0% cut-off) (2.103 M lbs. U3O8 @ 0.056% with 0.024% U3O8 cut-off)
- Inferred: 1.854 M lbs. U3O8 @ 0.015% (0.0% cut-off) (1.546 M lbs. U3O8 @ 0.067%, with 0.024% U3O8 cut-off)
- Total: 5.512 M lbs. U3O8 (Indicated & Inferred) would have an equivalent value $ 151 M at 17 September 2018 spot price $27.40/lb U3O8
- Conceptual exploration target of an additional 1.9 to 2.6 Mt of peat ranging 0.028 to 0.093 % U3O8 (U3O8 % = U% x 1.79)
- Infrastructure around the project includes 12-month road access, electricity and water supplies. 48km from capital Bishkek and 95km from Karabalta uranium processing plant.
- Trial production (2015) shows ISR mining technology (in situ leaching by Na2CO3 soda ash) as most favourable method of safely and economically recovering the uranium. Yellow cake successfully produced.
- ISR by soda ash will extract Uranium with no negative impact to environment. Use of soda ash permitted under Kyrgyz law.
- Significant exploration upside exists through drilling of adjacent prospective peat beds in the near vicinity of the current Resource.