March 2014 Quarter

 

Production by quarter

Langer Heinrich Mine Jun 2013 Qtr Sep 2013 Qtr Dec 2013 Qtr Mar 2014 Qtr
U3O8 Production (lb) 1,353,348 1,429,378 1,431,307 1,392,694

The March 2014 quarterly production of 1,392,694lb U3O8 was above budget by 4%.

Mining

. Dec 2013 Qtr Mar 2014 Qtr
Ore mined (t) 1,254,668 909,533
Grade (ppm) 664 1,021
Additional low grade ore mined (t) 1,150,223 357,922
Grade (ppm) 331 325
Waste (t) 3,235,604 3,729,823
Waste/Ore ratio 1.35 2.94

Ore mining activities concentrated on the eastern side of the deposit in Pit G1. Fewer ore tonnes were mined during the period, but the ore grade was significantly higher than in the previous quarters. The majority of waste material mined came from Pit H on the western side of the open cut. Mining also commenced in Pit G3 during the quarter.

ROM ore stocks have been maintained at approximately four weeks’ supply and are being supplemented by medium grade ore from long term stockpiles in line with the plant’s blend requirements.

Process Plant

The plant continued to perform well during the quarter, with record throughput and reduced feed grade as reflected below:

. Dec 2013 Qtr Mar 2014 Qtr
Ore milled (t) 962,930 982,209
Grade (ppm U3O8) 771 750
Overall recovery (%) 87.8 85.8
U3O8 Production (lb) 1,431,320 1,392,694

The processing optimisation strategy during the quarter focussed on continuous improvement utilising existing equipment and continued positive gains in both production and unit cost:

  • Quarterly ore processed increased by 2% from the previous quarter to a new record high.
  • Overall recovery impacted by reduced loading capacity on the IX resin. This issue will be addressed in the coming quarter.

All operating mines in the area, including LHM, are now obtaining the majority of their water supplies under a water supply agreement executed with NamWater in November 2013 using marine desalinated water from existing infrastructure. Since being signed, LHM has been receiving a reliable and secure water supply.

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© Paladin Energy Ltd 2014

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