Someone mentioned a capital cost of 300+ million - this is far...

Someone mentioned a capital cost of 300+ million - this is far from correct- probably only be around $80-90

TRS WILL become a stand alone operation so less capital will be required- DYL is becoming a no brainer and im loading up- even at long term contract price of $60 l/b is still good margin and remember they will enter into long term not sell at spot

A pre-feasibility study (PFS) commenced in 2010 based on the INCA deposit with supplemental feed from the lower grade Tubas-TRS deposit. Interim results were released early in 2011 demonstrating the potential for an operation with:
• A 12-year mine life at a production rate of 2.2 Mlbs per annum U3O8.
• Competitive capital costs of less than US$340 million, including a 10% contingency.
• Conventional acid leach processing route with solvent extraction.
• Operating costs below US$30/lb U3O8.
With the rapid increase in hard rock resources associated with the discovery of the Ongolo and MS7 deposits the low grade Tubas-TRS deposit is now seen as a stand alone operation utilising Schauenburg technology and hence is no longer included in the Omahola Project.
The exclusion of the Tubas-TRS feed for the Omahola Project as well as the focus on the Alaskites for the bulk of the feed could result in a reduction in the capital cost estimate.
The company received Environmental Clearance in late February from the Ministry of Environment and Tourism for its Environmental Impact Assessment (EIA) Report over the area of the INCA deposit. Work has commenced on the EIA Report for the Ongolo-MS7 area and is expected to be completed in late 2012.