Month: February 2012

The Häggån Project covers 110 square kilometers of the Storsjön District in Sweden
and forms part of an enormous uranium field, where the uranium occurs in black
shales, and currently holds a JORC inferred resource of 631 million pounds uranium.
There is potential for further large increases in resources with thick near-surface
mineralisation

But what excites me as an investor is the tank bio-leach process that has a very fast turnaround and high rates of extraction plus one of the lowest enterprise values/resource ratios of any uranium JORC deposit.

The uranium report just published by Martin Place Securities is one of the best I have read. It contains nearly all of the information you will require to make a decision about uranium shares. The MPS people put Australian ASX companies neatly into the world context. Download the MPS report (pdf)

STRONG POSITIVE ECONOMIC RESULTS CONFIRMED
FOR HÄGGÅN – MOVING TO PRE-FEASIBILITY
HIGHLIGHTS
Independent consultants have completed the first Scoping Study for the Häggån
Project:
 Scoping study confirms economic viability for bioheap leach project
 Net Present Value (NPV) – US$1,090M (pre-tax, 10% discount rate)
 Internal Rate of Return (IRR) 47%
 Total life of mine capital costs of US$769 million, including sustaining capital
 Payback in approximately 4.3 years, or less than a fifth of current project life
 Operating costs of US$36/lb uranium net of by-products
 Low mining costs – strip ratio of 0.75:1
 Nominal 30 Mtpa operation with a 25 year initial mine life – scope to expand
 Target initial annual production of 6.6 Mlbs uranium, 14.8 Mlbs nickel and 3.6
Mlbs molybdenum; target would place Häggån in the top 10 uranium mining
operations
 Sweden – excellent jurisdiction to develop a very long life mining operation
 Similar-sized multi-metal bioheap leach operation in neighbouring Finland
 Next-step: PRE-FEASIBILITY