URANIUM KING TO BE AUSTRALIA’S NEXT LISTED ASX URANIUM...

URANIUM KING TO BE AUSTRALIA’S NEXT LISTED ASX URANIUM PRODUCER
APEX SCOPING STUDY CONFIRMS ECONOMICALLY ROBUST MINING
OPERATION AT APEX-LOWBOY.
PRODUCTION ESTIMATED TO COMMENCE IN 2009.
HIGHLIGHTS
• Apex Scoping Study confirms potential of Apex – Lowboy to host an
economically robust open cut, heap leach uranium mining operation.
• Estimated production of 1.4 million pounds of uranium oxide production
with around 1.0 million pounds produced in initial 2 years of operation.
• Production estimated to start in 2009. Permitting process has
commenced.
• Projected EBIT of $87 million (at $US100 per pound uranium) with IRR
of 71%.
• Scoping Study highlighted significant potential at depth at Apex and
Lowboy with +10 million pounds targeted. This could extend the mine
life by a significant number of years.
• Drilling of targeted resource expected to commence in December
quarter 2007