Looks like Valencia will not get off the ground. It was sold in 2008 by Forsys to George Forrest International Afrique S.P.R.L. GFI have since reneged on payment.
AREVA are spending a fortune on Trekkopje. It's viabiliy is based on huge ore throughput:
" The mining operations are planned to be operated on three eight-hour shifts/day, seven days/week. Ore production is planned for 335 days/yr, based on 92% availability of the primary crushers over 365 days. Waste mining and support operations could be conducted up to 360 days/yr."
" The company expects the property, which is located about 70 kilometres east of the coastal town of Swakopmund and quite close of Rössing and Langer Heinrich, to produce about 8.5-million pounds of uranium oxide (3,850 tonnes) a year.
Although relatively low grade (at 0.014%) the Trekkopje deposit is vast, with the resource estimated at 502-million tons of uranium oxide. Independent consultants SRK have described it as world-class claiming that it may be the largest calcrete deposit in the world in terms of tonnage of mineralised material and contained tonnes of U3O8."
I post this information, about Trekkopje, as a point of comparison to the BMN deposit. The BMN deposit will approach the Mt size of Trekkopje, with significantly better U3 grades. The latest drilling report shows excellent shallow depth grades.
Cheers, Skip
BMN Price at posting:
$1.32 Sentiment: LT Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)