One of Australia's most closely-watched juniors - Paladin Resources Ltd - took a major step forward in becoming a uranium producer with the release of the bankable feasibility study for its Langer Heinrich play in Namibia. During May the company announced the BFS had shown the project was both financially and technically viable. Defining ore reserves generated from indicated and measured resources, the document had established a reserve base of 22.24 million tonnes at an average grade of 0.071 percent uranium oxide, which correlated to a scheduled 11 year mine life and a process plant life of 15 years. Based on the mill throughput design of 1.5 Mt of ore per annum, the BFS showed 1,180t of U3O8 could be produced annually for the first 11 years at a head feed grade of 0.0875 percent U308 and 401t per annum of U3O8 over the last four years using the accumulated low grade stockpile (grading 0.032 percent U3O8).
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