They haven't found new pounds. This is, literally, a 10min exercise on a desktop computer, with a mining software. They just lowered the cutoff grade in the resource model. Simple. It's not magic.
10mins is all it takes a mining engineer to do it.
By doing this they've increased mining & milling costs per pound uranium, so the AISC has gone up. And likely increased capital costs as well. But, given the great apppreciation in both term & spot price, the benefit of the additional volume outweighs the penalty of additional unit cost to the modelled financial discounted cash flows.
But, lets be clear. These desktop changes, playing with numbers, in a never ending cycle of 'studies', is how they kerp you hooked, believing they have pushed the ball forward...when in fact all they do is perpetually shuffle numbers around in a spreadsheet, and use flowery language.
TOE Price at posting:
38.0¢ Sentiment: Buy Disclosure: Held
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