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Berkeley Energia Ltd.
Summary
| Project: | Salamanca | |
|---|---|---|
| Deposit: | Salamanca | |
| Location: | Spain | |
| Commodities: | Uranium | |
| Date: | 7/14/2016 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 14-7-2016: Berkeley Energia Ltd. announces a Feasibility Study report for its Salamanca deposit at the Salamanca project. DFS results incl. post-tax NPV (8%) of US$531.9M, IRR of 60%, 14 year LOM. An independent Study has confirmed the Salamanca project a | |
| Resources: | (Reserve, P+P): 60.7Mt @ 408ppm U3O8 for 54.6Mlbs U3O8 contained | |
| CP/QP: | [Resources]: Malcolm Titley, Craig Gwatkin (Maja Mining Ltd.;Internal) | |
| ABSTRACT: | An independent Study has confirmed the Salamanca project as one of the world’s lowest cost producers capable of generating strong after tax cash flow through the current low point in the uranium price cycle. A Definitive Feasibility Study has reported that over an initial ten year period the project is capable of producing an average of 4.4 million pounds of uranium per year at a cash cost of US$13.30 per pound and at a total cash cost of US$15.06 per pound which compares with the current spot price of US$26 per pound and term contract price of US$41 per pound. During this ten year steady state period, based on the most recent UxC forward curve of uranium prices, the project is expected to generate an average annual net profit after tax of US$116 million. Managing Director Paul Atherley commented: “The Salamanca project is capable of generating strong, sustainable cash flow though the low point in the uranium price cycle. We have commenced initial infrastructure works and are aiming to establish the operation as one of the world’s top ten producers, reliably supplying long term customers from the heart of the European Union.” | |
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