Photo by: Fission Uranium
Name of the Project
Patterson Lake South (PLS) uranium project.
Location
Canada’s Athabasca basin region.
Project Owner/s
Fission Uranium.
Project Description
A feasibility study has confirmed the Tier 1 PLS project as one of the most economically significant and elite uranium development projects in the world, with a minimal environmental footprint.
The project has a mine life of ten years, with total production of 90.9-million pounds of uranium over the life-of-mine (LoM).
The feasibility study proposes a processing plant with a nominal throughput of 1 000 t/d.
A conventional grinding and leaching circuit will be used for the recovery process.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at an 8% discount rate, of C$1.204-billion and an internal rate of return of 27.2%, with a payback of 2.6 years.
Capital Expenditure
The project has an estimated capital cost of C$1.16-billion.
Planned Start/End Date
Construction is expected to take three years.
Latest Developments
Fission announced a C$75-million bought-deal financing on February 5 to fund work at the PLS project.
Canaccord Genuity and SCP Resource Finance, on behalf of a syndicate of underwriters, will buy, on a “bought deal” basis, 63.56-million common shares at C$1.18 a share.
The underwriters have an option to buy an additional 15% of the common shares.
Key Contracts, Suppliers and Consultants
Tetra Tech (feasibility study); SLR Consulting (resource estimation), Mining Plus Canada Consulting (mineral reserve estimation, mining design, mining infrastructure, mining capital and operating costs); Clifton Engineering Group (environment, permitting, socioeconomics and tailings); and BGC Engineering (geotechnical and hydrogeological aspects).
Contact Details for Project Information
Fission Uranium, tel +1 250 868 8140 or email info@fissionuranium.com