Results of a 43-101 Compliant Preliminary Feasibility Study for the Kuriskova Uranium-Molybdenum Project, Slovakia

摘要

The Kuriskova uranium-molybdenum project is a high-grade deposit located in Eastern Slovakia. A 43-101 compliant preliminary feasibility study (PFS) was completed on Kuriskova in 2012. Highlights of the PFS will be discussed: The current Kuriskova resources are estimated at 28.5 million pounds of indicated U_3O_8 in 2.3 Mt grading 0.555 per cent U_3O_8 and 12.7 million pounds of inferred U_3O_8 in 3.1 Mt grading 0.185 per cent U_3O _8. Indicated mineral reserves were estimated at 2.5 Mt and an average grade of 0.346 per cent U with an underground mining rate of about 210 000 ore tons per year at an economic cut-off of 0.13 per cent U for approximately 13 years. The mine plan is based on an underhand drift and fill mining method utilising a roadheader as the primary production method. Metallurgical test results indicate uranium and molybdenum recoveries of 92 per cent and 87 per cent, respectively, using conventional alkaline leaching and precipitation circuits producing separate uranium (yellowcake) and molybdenum concentrates. The average annual production of concentrates would be approximately 786 t of uranium oxide (U_3O_8) and 84 t of molybdenum with a life-of-mine U_3O_8 production of 20.9 million pounds (9493 t). The base case internal rate of return is calculated at 30.8 per cent on a pretax basis with a 1.9 year payback on an estimated initial capital cost of US$225 M including contingency. A long-term uranium price of US$68/lb U_3O_8 was used in the study. At an eight per cent discount rate, the pretax net present value is estimated at US$276 M. Operating costs are estimated to be US$22.98/lb U_3O_8 over the mine life and during the first four years of production US$16.68/lb U_3O_8 including by-product credit for molybdenum.