Ann: Stonehenge Metals Market Update , page-2

Well worth a read imo. SHE has to be one of the better up and coming "U" plays about! Look at the costings assuming everything is taken into consideration!! US$14lb!!

Latest metallurgical test work delivers 90% Uranium & 68% Vanadium extraction.

Vanadium extraction results achieved to date in the current program have been as high as 68% extraction after 1 hour leach residence time at 180C. Previous best vanadium extraction result using whole ore acid leaching was 50% at a leach temperature of 95C. Pressure leach tests will continue over the next 3 months to optimise leach conditions and assess the economic viability of whole ore leaching. Stonehenge has also identified a large domestic supplier of concentrate sulphuric acid within 120km of the project area and within the vicinity of existing rail infrastructure.
Competitive tenders have been received for vanadium salt roasting program and proposals are currently being assessed for award in October. Stonehenge’s target is to achieve 90% uranium and 75% vanadium extraction. Using the existing operating cost model, if 75% vanadium extraction is achieved then the net cash cost for production of both uranium and vanadium after by-product credits will be US$14.00 / lb U3O8. A vanadium price assumption of US$6.50 / lb V2O5 flake was used with an annualised production of 1,000 tpa U3O8 and 6,965 tpa V2O5 flake.