Hi Oneup,
The USD$40/Kg relates to the Current JORC Standard on Uranium. For a company to call the reserve economic they must be able to produce the Uranium for USD$40/Kg.
It includes removal of overburden, mining costs, processing, losses through processing, and rehabilitation.
When you consider that Mt Gee is Hard Rock
The cost of removing overburden could be as high as USD$5/tonne in hard rock. Assuming a 10:1 Stripping Ratio thats USD$50/tonne of ore just to remove the overburden and in that tonne there will only be 0.7Kg of Unprocessed Uranium. You will lose probably 80ppm in processing.
this only credible thing about mtn, page-29
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