https://www.miningweekly.com

Fission Uranium enhances Patterson Lake South economics

17th January 2023

By: Mariaan Webb

Creamer Media Contract Publishing Editor

     

Font size: - +

The newly completed Patterson Lake South (PLS) feasibility study has confirmed the asset as “one of the world’s elite uranium projects”, Kelowna-headquartered resource development company Fission Uranium has confirmed.

CEO Ross McElroy reports the study, conducted by Tetra Tech Canada, has delivered “greatly enhanced economics”, compared with the 2019 prefeasibility study (PFS), including an increase of 42% to the mine life, a 71.5% increase in aftertax net present value to C$1.20-billion and a 10.2% growth in the aftertax internal rate of return to 27.2%.

The mine life has increased to ten years with life of mine production of 90.9-million pounds of uranium oxide at an average unit operating cost of $13.02/lb.

“This feasibility study confirms the Tier 1 PLS project as one of the most economically significant and elite uranium development projects in the world,” he says.

The feasibility study’s capital expenditure (capex) of C$1.16-billion is also lower, albeit marginally, than the 2019 estimate.

“Showing capex to be lower than the 2019 prefeasibility report, particularly with the pressures of high global inflation, is a remarkable achievement and speaks volumes regarding the team's design and planning abilities,” says McElroy.

Given the strength of the feasibility study, Fission Uranium will continue advancing PLS through the environmental assessment and on towards a construction decision.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 
Lilak Aluminium
Lilak Aluminium

For over 15 years, Lilak Aluminium, a trusted leader in architectural extrusion supply, has delivered excellence to businesses like yours.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.042 0.958s - 111pq - 2rq
Subscribe Now