Berkeley Energia Limited Salamanca aims to be world's lowest cost producer (2918H)
30 Novembre 2015 - 8:01AM
UK Regulatory
TIDMBKY
RNS Number : 2918H
Berkeley Energia Limited
30 November 2015
BERKELEY ENERGIA LIMITED
AIM RELEASE | 30 November 2015 | AIM / ASX: BKY
Salamanca aims to be the world's lowest cost producer
Optimisation studies have commenced on the Salamanca project
which are expected to reduce the operating costs making it the
amongst world's lowest cost uranium producers once developed.
As previously reported the high grade Zona 7 deposit has
transformed the economics of the project lifting the Net Present
Value to over US$871.5 million (GBP580.9 million, GBP3.22 per
share) and reducing operating costs from US$24.60 to US$15.60 per
pound of uranium produced during steady state operations.
Managing Director Paul Atherley commented:
"The near surface high grade Zona 7 deposit has transformed the
economics of the project largely due to an increase in grade. We
are now focussed on further reducing the operating costs with the
aim to make the Salamanca project the world's lowest cost
producer"
Early indications from the optimisation studies have
demonstrated that whilst the project has benefited from on average
a 42% increase in grade from the Zona 7 ore during the first ten
years of operation there is room for further improvement
particularly in the material handling scheduling, strip ratio, the
mining unit rates and the fixed costs associated with grade control
drilling and assaying.
The project continues to benefit from external factors such as
continued deflationary trends arising from ongoing strong
competition amongst major contractors and suppliers as well as the
continued depreciation of the Euro against the US dollar making
local costs cheaper against the US dollar denominated uranium
price.
The optimisation forms part of the definitive feasibility study
required by financiers and offtake parties to enable funding and
sales contracts to be put in place ahead of the commencement of
construction in mid-2016.
The study is being undertaken by metallurgical consultancy MDM
Engineering, part of the Amec Foster Wheeler group working in
conjunction with major Spanish engineering groups Iberdrola and OHL
and a number of specialist local contractors.
These groups are bringing to the project the latest industry
developments in automation, data analytics and process control and
reflect management's commitment to continuous improvement in all
aspects of its operations.
Interim results are expected to be reported early in the New
Year giving guidance on the progress of the optimisation
studies.
For further information contact:
Paul Atherley Hugo Schumann Paul Shackleton / Nick Prowting
(Nomad)
Managing Director Corporate Manager Jay Ashfield (Broker)
+44 207 478 3900 +44 207 478 3900 WH Ireland Limited
info@berkeleyenergia.com +44 207 220 1666
Competent Persons Statement
The information in this announcement that relates to the
Pre-Feasibility Study is extracted from the reports entitled 'Zona
7 transforms Salamanca project economics' dated 4 November 2015
which is available to view on Berkeley Energia Limited's (Berkeley)
website at www.berkeleyenergia.com. The information in the original
ASX announcement is based on information compiled by Mr Francisco
Bellon, a Competent Person who is a member of the Australasian
Institute of Mining and Metallurgy. Mr Bellon is the General
Manager Operation for Berkeley and a holder of shares, options and
performance rights in Berkeley. Mr Bellon has sufficient experience
which is relevant to the style of mineralisation and type of
deposit under consideration and to the activity which he is
undertaking to qualify as a Competent Person as defined in the 2012
Edition of the 'Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves'. The Company confirms
that it is not aware of any new information or data that materially
affects the information included in the original market
announcements and, in the case of estimates of the Production
Target and related forecast financial information derived from the
Production Target, all material assumptions and technical
parameters underpinning the estimates in the relevant original
market announcement continue to apply and have not materially
changed. The Company confirms that the form and context in which
the Competent Person's findings are presented have not been
materially modified from the original market announcement.
Forward Looking Statement
Statements regarding plans with respect to the Company's mineral
properties are forward-looking statements. There can be no
assurance that the Company's plans for development of its mineral
properties will proceed as currently expected. There can also be no
assurance that the Company will be able to confirm the presence of
additional mineral deposits, that any mineralisation will prove to
be economic or that a mine will successfully be developed on any of
the Company's mineral properties.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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