Name of the Project
Madaouela uranium project.

Location
Agadez region, in the north of Niger.

Project Owner/s
Africa-focused uranium company GoviEx Uranium (80%) and the Niger government (20%), of which 10% represents a free carry.

Project Description
The updated prefeasibility study has succeeded in delivering a project that is technically robust and significantly simplified, reducing development and operational risk.

The project has probable reserves of 24.9-million tonnes run-of-mine (RoM) grading 0.85 kg of total uranium.

Mining operations for the project are initially planned to be based on standard truck-and-shovel openpit mining for the Miriam deposit at one-million tonnes a year of ore feed to the process plant, which results in an initial six years of mining operations at Miriam. This production rate ensures that the life of the Miriam deposit will exceed the expected potential debt tenor.

The Marianne-Marylin and MNSE-Maryvonne deposits are planned to be mined using room-and-pillar. Ore mining is designed to be undertaken at 1.4-million tonnes a year. Mined ore is to be fed onto a conveyor through feed breakers at each panel. RoM ore is then planned to be sorted using X-ray fluorescence to remove waste dilution. Thereafter, the ore is designed to be trucked to the process plant at one-million tonnes a year.

The life-of-mine (LoM) operations for the project is estimated at 20 years, producing estimated total uranium sales of 49.6-million pounds of uranium and averaging 2.48-million pounds uranium a year over the LoM.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Based on a uranium price of $55/lb of uranium, the project has an estimated net present value, at an 8% discount rate, of $117-million and an internal rate of return of 13.7%, with a payback of five years.

Capital Expenditure
Initial capital is estimated at $347.26-million.

Planned Start/End Date
Not stated.

Latest Developments
GoviEx can fast-track the feasibility study in 2021 to target rapid development.

The next steps are to accelerate project financing and offtake options.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
GiviEx Uranium, tel +1 604 681 5529 or email info@goviex.com.