Name and Location
Marenica uranium project, Namibia.

Project Description
A scoping study on the Marenica project has found that the project could deliver 3,5-million pounds of uranium a year at the highly competitive operating cost of $38/lb.

The study found that Marenica could produce a total of 45-million pounds of uranium over a 13-year mine life based on existing defined indicated and inferred mineral resources.

The project has defined a total resource of 648-million tons at 97 parts per million uranium oxide for 138-million pounds.

The study focused on the development of a heap-leach operation.

Value
The project has an estimated capital cost of $260-million for the crushing, screening and processing facility, including a ten-million-ton-a-year on/off leach pad, ancillary infrastructure and closure costs.

Duration
Construction and commissioning of the plant is expected in 2013 and 2014.

Client
Marenica Energy.

Key Contracts and Suppliers
SRK Consulting (scoping study).

Latest Developments
Once sufficient indicated resources have been delineated, a definitive feasibility study will begin.

The project described in the scoping study will require mining and environmental permits and a sitewide environmental- and social-impact statement (ESIS).

Preliminary work required for the ESIS, such as baseline water sampling, meteorological and dust monitoring, will begin in November.

The scoping study assumes receipt of all required permits to construct and operate the mine and plant within three years.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Marenica Energy, tel +61 8 9321 7355 or fax +61 8 9321 7399.