It depends greatly on what type of deposit you’re talking about and also your location. For an in-situ recovery (ISR) deposit located in an area where other ISR deposits are currently producing (eg. Wyoming), you would need approximately 3 million pounds of uranium at grades of 0.03 – 0.04% uranium to go into production. (We currently have a global resource of 4.3M pounds at Bootheel, which is why we are starting the permitting process.) If you are talking about an open pit deposit, you would generally need between 35 – 50 million pounds at grades between 0.06 – 0.1%. Please remember that these numbers are very general. It depends greatly on if there is existing infrastructure. In places like Saskatchewan, yes the grade is much higher (several %), but they are generally deep underground mines, so they need the high grade. If you had 0.04% in Saskatchewan, it wouldn’t work, but in places like Wyoming or Texas, it is fine. Please do not hesitate to call me at 604-681-8030 if you would like to discuss this further.
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