Name and Location
Westmoreland uranium project, Northern Territory, Australia.

Client
Laramide Resources.

Project Description
An updated preliminary economic assessment (PEA) on the Westemoreland uranium project has highlighted the low technical risk and robust nature of the project. The PEA envisages a conventional openpit mining operation, with a proces-sing facility operating over a 13-year mine life at a throughput of 5 500 t/d.

The planned processing route comprises milling followed by conventional agitated tank leach with sulphuric acid, and continuous ion exchange for uranium recovery from the leach solution.

Average yearly throughput has been estimated at two-million tonnes, with an overall process recovery of 95%.

Average uranium production has been estimated at 3.52-million pounds.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 10% discount rate, of $598-million and an internal rate of return of 45.4%, with a payback estimated at 2.5 years post-tax.

Value
Initial capital expenditure is estimated at $316-million to build the mine and a two-million-tonne-a-year mill with a nameplate capacity of four-million pounds of uranium a year.

Duration
Not stated.

Latest Developments
The PEA has highlighted multiple opportunities to further improve the project through process optimisation and additional resource drilling, which the company will investigate as the project moves towards a prefeasibility study.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Too early to state.

Contact Details for Project Information
Laramide Resources, tel +1 416 599 7363, fax+1 416 599 4959 or email info@laramide.com.