Name and Location
Temrezli in situ recovery (ISR) project, Turkey.

Client
Anatolia Energy.

Project Description
A preliminary economic assessment (PEA) was completed on Temrezli in July 2013.

Since then, Anatolia has conducted additional drilling, prepared an updated mineral resource estimate and installed wells meeting ISR industry standards for additional aquifer testing to advance the project.

In an update to the July 2013 PEA, Anatolia has reported an increased mineral resource recovery estimate, owing to information from recent drilling, an increase in the number of wells required to access the larger resource area, and a decrease in well construction costs to reflect the actual costs incurred in 2013 and 2014.

The updated mineral resource estimate has resulted in an increase in the estimated pounds of recoverable uranium, from 9 125 000 lbs to 9 209 000 lbs over ten years. The increase in wellfield area has resulted in an additional 41 recovery wells and 43 injection wells in the base case scenario (27.5 m injector to injector well spacing). The updated PEA has confirmed Temrezli as one of the lowest-uranium mines worldwide.

Value
According to the updated PEA, the project will require a capital investment of about $30.2-million, down from the previous capital cost estimate of $30.6-million.

Duration
Not stated.

Latest Developments
Anatolia aims to finalise its engineering and permitting over the course of this year. A feasibility study will also be completed, with a development decision scheduled for the third quarter of this year.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Anatolia Energy, tel +61 8 9321 5245, fax +61 8 9321 5036 or email admin@anatoliaenergy.com.au.