From the update file comes news that Marenica Energy (MEY) has...

From the update file comes news that Marenica Energy (MEY) has been kicking goals with its uranium processing technology, U-pgrade. As mentioned here back in February, this has the potential to turn the industry on its head.
The patented process rejects the non-uranium material before the leaching of the uranium is started. It involves a physical, rather than chemical, shearing process within cyclones.
Think of a 1kg run-of-mine material being processed via U-pgrade to yield 10 grams of concentrate containing most of the uranium. The lower mass now needed to be processed to recover the uranium could lead to overall reductions of 50-70 per cent in processing costs, and 30-50 per cent reductions in capital costs.
Lower-grade uranium deposits suddenly look more attractive, as the couple of other ASX uranium players interested in the technology have set out to prove on their deposits. One of those is Deep Yellow (DYL). It reported last week that initial results from an ongoing U-pgrade trial at its Tumas uranium deposit in uranium-friendly Namibia had indeed indicated that high recovery of uranium from a much smaller mass was possible.
As Deep Yellow noted, the production of a high-grade concentrate means that sending off the product for leaching and refining at an established operation as an alternative to on-site production of yellowcake could also be an option thanks to U-pgrade.
More work to do but interesting stuff. It’s also worth noting that those in charge of cleaning up the mess at China’s Hanlong Energy have agreed to a restructuring of its convertible note on much more favourable terms to Marenica. The Chinese are still there but not with the grip that the original note gave them. And when it comes to things uranium, there is no harm in having Beijing on board.