Definitive Feasibility Study

Following a positive Re-Start Scoping Study in 2020 which highlighted Kayelekera will be one of the lowest initial capital costs (US$50 million) uranium assets to recommence production and can produce upto 23Mlbs U3O8 over a 14 year mine life, the Company commenced work on a Definitive Feasibility Study (DFS), that is due to be completed by mid-2022.

The DFS will not only build on the solid results of the Scoping Study, as well as the knowledge of 5 years of actual production history, but will incorporate the results of a number of technical studies that were identified in the Scoping Study as being key value drivers for the operation. These areas each have the potential to significantly improve the projects overall returns either by reducing costs or increasing production. The studies include: