Now we are talking! This was worth the wait for sure.
Average grade of 200ppm is much more inline with some other notable Namibian projects (Like BMN) and all very much on the surface meaning these should be pounds that can be dug up at a competive costs.
Another major development in the U mining space is the lack acid availability which has been impacting the large ISR miners already including CCJ and KAP, constraining their production. It certainly will impact any new ISR project. This might make EL8 with its Upgrade tech a standout since it saves about 80% on acid consumption which is probably already quite a bit lower then ISR when using heap leach or tank leach anyway.
KAP's announced production increase is already looking very shaky. I still think it will have to be the African miners to the rescue over the next decade when it comes to U production. Price absolutely don't reflect that.
I hope EL8 starts work on that pilot plant soon and shows some compelling production numbers!
EL8 Price at posting:
45.0¢ Sentiment: Buy Disclosure: Held
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