- GoviEx Uranium (GXU) is releasing positive results from its latest feasibility study
- The results are from the Vancouver company’s flagship Madaouela Project
- The mine-permitted operation is located in Niger
- The feasibility study will be filed within the next 45 days
- GoviEx Uranium is down 3.7 percent, trading at $0.26 at 11:16 am ET
GoviEx Uranium (GXU) is releasing positive results from its latest feasibility study from the Vancouver company’s flagship Madaouela Project.
The mine-permitted operation is located in Niger.
The feasibility study will be filed within the next 45 days.
The company believes the project is one of the largest uranium resources in the world, with 100 million pounds of uranium in measured and indicated mineral resources, plus inferred resources of 20 million pounds.
Its feasibility study is based on a self-sustaining operation including a process plant and renewable power supply with no reliance on third-party facilities. The study gives the project an after-tax NPV of 8 percent of US$140 million and an internal rate of return of 13.3 percent.
“The FS confirms the strength of the Madaouela project and its ability to deliver good economic results at a time when inflationary pressures are having a significant impact on the development of new projects and operating mines. The completion of our FS represents another major step in our company’s development and its goal of becoming a significant uranium producer. This FS, along with the current strengthening uranium demand combined with the fact that our project is fully permitted, distinguishes Madaouela as a unique development opportunity,” said Executive Chairman Govind Friedland.
GoviEx Uranium is down 3.7 percent, trading at $0.26 at 11:16 am ET.