The Kayelekera Uranium Project (“Kayelekera” or the “Project”) in Malawi, Africa is the fourth largest uranium asset globally by historical annual production currently on care and maintenance. The Project produced ~11MIbs U3O8 equivalent over five-years between 2009-2014, before the asset was shutdown to preserve its longevity due to a sustained low uranium price.

The Project has a mining licence and its environmental permits, access to a skilled local workforce who worked at the asset previously, as well as strong government support (who are also 15% owners of the Project).

The Company released a Definitive Feasibility Study in August 2022, which confirmed Kayelekera ranks as one of the lowest capital cost uranium projects globally (Initial Capital Cost – US$88m), whilst being able to quickly recommence production once a Final Investment Decision is made.