- GoviEx Uranium (GXU) is now targeting a feasibility study at its Mutanga Uranium Project in Zambia
- The Vancouver-based mineral exploration company is currently conducting a field program on the 100-percent-owned property
- The program includes 15,500 metres of infill drilling, with an aim to upgrade the project’s Dibwe East resource from the Inferred to Indicated category
- At current uranium prices, the Mutanga project shows a 34 percent internal rate of return
- The project also shows a US $189 million net present value with projected production to exceed 2.5 million pounds per year
- GoviEx Uranium is down 2.67 percent, trading at $0.36 at 1:35 p.m. ET
GoviEx Uranium (GXU) is now targeting a feasibility study at its Mutanga Uranium Project in Zambia.
The Vancouver-based mineral exploration company is currently conducting a field program on the 100-percent-owned property.
The program includes 15,500 metres of infill drilling, with an aim to upgrade the project’s Dibwe East resource from the Inferred to Indicated category, extending the work completed by GoviEx in 2021.
A hydrogeological study will be conducted to find a reliable water source for the plant and to carry out the dewatering studies for the open pits.
At current uranium prices, the Mutanga project shows a 34 percent internal rate of return.
The project also shows a US $189 million net present value with projected production to exceed 2.5 million pounds per year.
Mutanga is one of three frican projects owned by GoviEx, and is planned to be developed following the company’s Flagship Madaouela Uranium Project in Niger.
“We are a multi asset developer on track to deliver on the feasibility study for our mine permitted Mutanga Project. This is two years after we plan to deliver the feasibility study for our Madaouela Project in Niger, which is due in the first half of this year. With increased uranium prices driven by strong market fundamentals, the Mutanga Project continues to be a key asset for GoviEx,” said CEO Daniel Major.
GoviEx Uranium is down 2.67 percent, trading at $0.36 at 1:35 p.m. ET.
