
December 12, 2023
Cauldron Energy Limited (ASX: CXU) (“the Company” or “Cauldron”) is pleased to announce the results of its Scoping Study for a proposed stand-alone Bennet Well Uranium operation, located ~ 100 kms south of the town of Onslow in Western Australia, and ~1,050 kms north of Perth.
Highlights
- Bennet Well Scoping Study confirms the potential for a low cost globally competitive in-situ recovery (ISR) uranium operation;
- Mineral Resource (JORC 2012) at Bennet Well contains 30.9 million pounds (~14,000t) of contained uranium oxide (Indicated plus Inferred Mineral Resource of 38.9 million tonnes grading 360 ppm eU3O8);
- A production rate of 1.5 Mlb/year over 11 years produces 16.5 Mlb of U3O8 over the life of mine (LOM);
- The mineable resource (extracted from the Mineral Resource) is 27.7Mt @ 373 ppm eU3O8 at an optimised cut-off grade of 175 ppm eU3O8;
- Leach recoveries based on test work conducted by CSIRO are 67% (to be confirmed by field leach trial);
- Upfront capital is estimated to be A$117.7M (US$82.4M), with on-going capital for wellfield development of A$179.0M (US$125.3M) un-escalated over LOM;
- Operating (US$23.23/lb U3O8) and capital costs (US$12.56/lb U3O8) bench mark well against other similar uranium projects;
- Project NPV of A$449M (US$314M) pre-tax at a discount rate of 10%, with IRR of 79% and a payback period of 1.5 years using base case assumptions of US$75/lb U3O8 and 0.70 AUD:USD;
- At the current spot uranium price of US$83/lb, and exchange rate of 0.66, the project has a pre-tax NPV of US$380M (A$576M), and an IRR of 93%.
- Project economics greatly assisted by low reagent consumption, a relatively shallow depth to mineralization, and good permeability of the host sands;
- Low environmental footprint, focus on minimal disturbance and continuous rehabilitation, no long-term impact on groundwater, potential for low carbon intensity project;
- Further upside opportunities include:
- Potential for an increase in the Bennet Well resource estimate with further drilling, noting the Company has a Program of Works approved by DMIRS and intends on drilling early next calendar year,
- In-fill drilling at bennet Well to improve confidence in the resource (i.e. convert Inferred Resources to Indicated Resources),
- Processing efficiencies aimed at reducing costs and increasing recovery rates,
- Further exploration potential for additional uranium mineralization to be defined on several targets in the region.
The Bennet Well Uranium Deposit, forms part of Cauldron’s Yanrey Uranium Project which encompasses a total area of 1,270 km2, and remains open to the north and south and has the potential to be larger. An approved drill program will be conducted in the early part of calendar year 2024 and aims to test for extensions to the deposit as well as undertake infill drilling to upgrade parts of the existing mineral resource from inferred status to indicated.
The Study was assisted by consultants from Ravensgate Mining Industry Consultants and metallurgical and processing consultants at ANSTO and CSIRO, and highlights the project’s potential to deliver robust financial returns.
Commenting on the outcomes of the Bennet Well Scoping Study Cauldron’s Chief Executive Officer, Jonathan Fisher, said
“The Company is delighted to report these outstanding initial Scoping Study results for the Bennet Well deposit which further highlight the quality and global significance of Cauldron’s uranium assets. These strong financial estimates and outcomes, driven by modest capital and operating costs, are the culmination of many years of extensive research and development by Cauldron.
Bennet Well, and the wider Yanrey project area, represents a significant opportunity to discover and ultimately develop uranium mineral resources, and this Scoping Study results clearly illustrate the transformational effect the stand-alone Bennet Well operation could have on the potential economics of the entire Yanrey Uranium Project.
As global uranium markets continue to strengthen, Cauldron is pleased to report the cost estimates and outcomes for Bennet Well are very competitive globally with:
- an excellent 79% IRR
- a pre-tax NPV10 of $A449M (US$314M)
- short payback period of 1.5 years
- a strong life of mine C1 operating cost of only US$23.23/lb U3O8
- a strong life of mine AISC cost of only US$35.79/lb U3O8
- a modest upfront CAPEX of A$117.7M (US$82.4M) plus additional capital for wellfield development over the 11 year mine life of A$179M (US$125.3M)
- annual production of 1.5Mlbs U3O8 p.a., and total production of 16.5Mlbs U3O8 over life of mine
- total undiscounted cash flow of A$1,042M (US$729M) pre-tax
With continuing feasibility work, Cauldron is confident that there is significant scope to further optimise this Study outcomes for the Bennet Well deposit. The potential integration of mineral resources from additional deposits discovered in the wider Yanrey project area could increase production at Bennet Well and either extend the mine life considerably or allow an increase in annual production rate.
We are now planning our next phase of work based on further defining and converting mineral resources to Indicated status, and at the same time extending the mineral resource base. We will continue to understand the geo-metallurgical model and how that impacts uranium extraction and recovery, and carry out further test work required to bring the project to pre-Feasibility Study level within 12-18 months.
We know this work will be well supported by the market, despite the politically motivated ban on uranium mining by the current WA State Labor Government. We are confident that this ban will be over-turned in time, either by a change of Labor Party policy or a change in government, and so it is important to put the project back on a development pathway for when the window of opportunity opens.”
Click here for the full ASX Release
This article includes content from Cauldron Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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14 July
Exploration for Rare Earths to commence at Myoff Creek
14 July
Company Update - Name Change to 'American Uranium Limited'
10 July
Terra Clean Energy Ramps Up Summer Drilling Plans, Eyes Resource Update
Terra Clean Energy (CSE:TCEC,OTCQB:TCEFF,FWB:C9O0) President and CEO Greg Cameron outlines the company's upcoming summer drill program at the South Falcon East uranium project, building on strong results from a winter campaign at the Fraser Lakes B deposit.
“The plan is to get up to 2,500 meters back into this new area of interest. Hopefully drill into what we're defining as an unconformity basement-hosted uranium deposit with significantly higher grade than we currently have,” he said.
“We would have the ability to update that resource report in some fashion, maybe early 2026 or mid-2026, so those are the two key catalysts. But it's all about drilling and adding pounds to the current resource and, more importantly, significantly enhancing that grade which we think we have," Cameron added.
The 2025 summer drill program will target a priority zone identified in the winter campaign, where key geological features associated with high-grade uranium converge, further presenting a strong opportunity for high-grade discovery and resource expansion.
Watch the full interview with Terra Clean Energy president and CEO Greg Cameron above.
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10 July
Placement Shares Issued & Drilling Approval Expected August
09 July
Top 3 ASX Uranium Stocks of 2025
Uranium broke out in 2024, with the spot price rising to a 17 year high of US$106 per pound early in the year. Despite a pullback to about US$78, uranium is still more than 40 percent higher than it was two years ago.
Although the market is dealing with ample supply and uncertain demand in 2025, experts are predicting a bright future as countries around the world pursue energy security goals.
Against that backdrop, ASX-listed uranium companies have been making moves in 2025.
Below the Investing News Network has listed the top-performing uranium shares on the ASX by year-to-date gains. Data was gathered using TradingView's stock screener on July 3, 2025, and Australian uranium companies with market caps above AU$10 million at the time were considered. Read on to learn more about uranium firms and what they've been up to so far this year.
1. Boss Energy (ASX:BOE)
Year-to-date gain: 72.02 percent
Market cap: AU$1.84 billion
Share price: AU$4.18
Boss Energy is one of Australia’s largest uranium mining companies by market cap. The company has been ramping up production at its Honeymoon uranium mine in South Australia and its Alta Mesa uranium mine joint-venture in South Texas. Boss Energy holds a 30 percent stake in Alta Mesa, with the remaining 70 percent owned by enCore Energy (TSXV:EU,NASDAQ:EU).
So far in 2025, Boss Energy has expanded its holdings in Australia’s uranium sector. The company entered into a binding option and earn-in agreement in early March with Eclipse Metals (ASX:EPM), which will grant Boss Energy the option to earn up to an 80 percent interest in the Liverpool uranium project in the Northern Territory.
A few days later, Boss Energy increased its position in Laramide Resources (ASX:LAM,TSX:LAM,OTCQX:LMRXF) to 18.4 percent. Laramide’s flagship asset is the Westmoreland uranium project in Queensland. While the state currently holds a moratorium on uranium mining, Boss Energy Managing Director Duncan Craib stated the company is confident the Queensland government will “inevitably lift” the ban.
The company announced on June 18 that it had met its first-year production guidance of 850,000 pounds of U3O8 at Honeymoon for the fiscal year 2025.
Shares of Boss Energy reached their 2025 peak on June 30 at AU$4.67.
2. Aura Energy (ASX:AEE)
Year-to-date gain: 24 percent
Market cap: AU$146.04 million
Share price: AU$0.16
Aura Energy is exploring and developing uranium and polymetallic projects in Africa and Europe. The company’s most advanced asset is the Tiris uranium project in Mauritania. The 2024 FEED study on Tiris demonstrates the potential for a near-term, low-cost uranium mine producing 2 million pounds of U3O8 per year over a 25 year mine life.
Aura Energy is hoping to bring the Tiris uranium mine into production in 2027.
Additionally, Aura wholly owns the Häggån vanadium-potash-uranium project in Sweden, which contains one of the world's largest uranium deposits, according to the company. Sweden currently has a ban on uranium mining, but the country's current government is taking steps towards lifting it to support the country's nuclear energy production.
In early June, Aura shared that it is holding discussions with the Swedish government and entered a strategic collaboration agreement with fellow Australia-based, Sweden-focused company Neu Horizon Uranium.
Shares of Aura Energy hit a year-to-date high of AU$0.18 twice so far this year, most recently on June 30. This followed the June 26 release announcing the publishing of the Environmental and Social Impact Assessment on the US International Development Finance Corporation website. Aura applied to the organization for debt financing to cover a portion of development costs for Tiris.
3. Elevate Uranium (ASX:EL8)
Year-to-date gain: 16.98 percent
Market cap: AU$119.54 million
Share price: AU$0.31
Elevate Uranium is exploring and developing uranium projects in the top uranium producing nations of Namibia and Australia. Its project pipeline includes the Koppies and Marenica projects in Namibia, and the Minerva and Angela projects in Australia.
Koppies is its most advanced project and has a near-surface resource of 66 million pounds of U3O8.
Elevate has also developed the proprietary U-pgrade beneficiation process, which reduces ore mass by greater than 95 percent prior to leaching. This results in concentrated uranium with grades of about 10,000 parts per million uranium.
The company’s presentation released in mid-June outlines that its U-pgrade demonstration plant at the Koppies project will be operational by the end of 2025. Additionally, The company plans to begin a project study at Koppies in late 2025.
Shares of Elevate Uranium reached their 2025 peak on June 18 at AU$0.35.
Don’t forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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09 July
North Shore Uranium Engages Investing News Network
North Shore Uranium Ltd. (TSX-V:NSU) ("North Shore" or the "Company") is pleased to announce that it has entered into an advertising and investor awareness campaign agreement (the "INN Agreement") with Dig Media Inc. dba Investing News Network ("INN").
INN is a private company headquartered in Vancouver, Canada, dedicated to providing independent news and education to investors since 2007 at www.investingnews.com. On July 4, 2025, the Company entered into the INN Agreement. The INN Agreement will be for a three-month term, with three equal payments of $2,750 that will be paid at the beginning of each month, totaling $8,250 (GST excluded). The INN Agreement will not automatically renew. INN will provide advertising to increase awareness of the Company with the first campaign commenced on July 4, 2025. INN does not provide Investor Relations or Market Making services. INN currently holds no common shares in the Company. INN and the Company are unrelated and unaffiliated entities.
The INN Agreement is subject to approval by the TSX Venture Exchange.
ABOUT NORTH SHORE
The nuclear power industry is in growth mode as more nuclear power will be required to meet the world's ambitious CO2 emission-reduction goals and the needs of new power-intensive technologies like AI. In this environment, new discoveries of economic uranium deposits will be very valuable, especially in established uranium-producing jurisdictions like Saskatchewan and New Mexico (see news release dated June 24, 2025). North Shore is well-positioned to become a major force in exploration for economic uranium deposits. The Company is working to achieve this goal by exploring its Falcon and West Bear properties at the eastern margin of the Athabasca Basin in Saskatchewan, expanding its exploration efforts to include the Grants Uranium District in New Mexico and by evaluating other quality opportunities in the United States and Canada to complement its portfolio of uranium properties. North Shore summarized exploration efforts at its Falcon property in a May 27, 2025, news release.
ON BEHALF OF THE BOARD
Brooke Clements,
President, Chief Executive Officer and Director
For further information:
Please contact: Brooke Clements, President, Chief Executive Officer and Director
Telephone: 604.536.2711
Email: b.clements@northshoreuranium.com
www.northshoreuranium.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "project", "appear", "interpret", "coincident", "potential", "confirm", "suggest", "evaluate", "encourage", "likely", "anomaly", "continuous" and variations of these words as well as other similar words or statements that certain events or conditions "could", "may", "should", "would" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the completion of the Offering; the completion and expected terms of the Transaction, the parties' abilities to meet the closing conditions of the Transaction, the number of securities to be issued by the Company in connection with the Transaction, receipt of all necessary approvals for the completion of the Transaction, the completion of satisfactory due diligence, execution of a definitive agreement, and the Company's ability to meet the terms of the Transaction; the highly speculative nature of the Transaction given the early-stage nature of Rio Puerco; the actual results of current and planned exploration activities including the potential for the definition of a mineral deposit of potential economic value at the Company's Falcon property in Saskatchewan; that drilling results, geophysical survey results and/or interpretations thereof are defining potentially mineralized corridors; results from future exploration programs including drilling; interpretation and meaning of completed and future geophysical surveys; conclusions of future economic evaluations; changes in project parameters as plans to continue to be refined; possible variations in grades of mineralization and/or future actual recovery rates; accidents, labour disputes and other risks of the mining industry; the availability of sufficient funding on terms acceptable to the Company to complete the planned work programs; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated, or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events, or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
Click here to connect with North Shore Uranium Ltd. (TSXV:NSU) to receive an Investor Presentation
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