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According to a Preliminary Feasibility Study from its independent consultant, Tetra Tech, Inc. on Kuriskova, the Tournigan Energy Ltd. (TSXV:TVC,FWB:TGP) high-grade uranium deposit located in Slovakia could be among the world’s lowest cost uranium producers.
According to a Preliminary Feasibility Study from its independent consultant, Tetra Tech, Inc. on Kuriskova, the Tournigan Energy Ltd. (TSXV:TVC,FWB:TGP) high-grade uranium deposit located in Slovakia could be among the world’s lowest cost uranium producers.
Highlights of the PFS for Kuriskova:
- Internal Rate of Return 30.8%; 1.9 year payback; $277 million Net Present Value (NPV) at an 8% discount rate (Pre-Tax, base case US$68/lb U3O8, US$15/lb Mo);
- 94% increase of Indicated Resource to 28.5 million pounds of U3O8 since Tournigan’s June 2009 Preliminary Economic Assessment (“PEA”);
- 92% uranium recovery in PFS, increased from 90% in the PEA;
- 62% increase in the uranium grade to the process plant to 0.408% U3O8 in the PFS from 0.252% U3O8 in PEA;
- 26% lower life of mine operating costs in the PFS compared to the PEA. The PFS estimates US$22.98/lb U3O8 life of mine operating costs and US$16.68/lb U3O8 during the first 4 years of production. These are net of a molybdenum credit of about US$1.27 per pound of U3O8;
- 1.5 year decrease of preproduction construction period in PFS to 3 years compared to 4.5 years in the PEA;
- The project can be developed as an underground mine/processing facility with a very small surface footprint;
- Kuriskova would utilize Best Available Technologies in the mining and processing operations. The uranium can be extracted using conventional alkaline (non-acid) processing; and
- There are multiple exploration targets within the Kuriskova License area, with the potential to expand the resource base and extend project life.
Click here to read the Tournigan Energy Ltd. (TSXV:TVC) press release
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