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Geology & Resources

Langer Heinrich is a surficial calcrete type uranium deposit containing a Mineral Resource of 123.5Mlb at a grade of 460ppm U3O8 across all resource categories. The deposit is divided into seven contiguous mineralized zones designated Detail 1 to 7 along the length of the Langer Heinrich valley within the 15km length of a paleo drainage system.  The deposit is located in the Namib Desert, approximately 80km from the major seaport of Walvis Bay.

The Mineral Resource is detailed below at a cut-off grade of 250ppm U3O8.

Mineral Resource Estimate (depleted for mining at end of June 2018)

250ppm cut-off Mt Grade
ppm
U3O8
Mlb U3O8
Measured 60.71 515 68.72
Indicated 21.48 460 21.71
Stockpiles 30.78 355 24.04
Inferred 8.70 470 8.98
Total 121.7 460 123.5

(Figures may not add due to rounding and are quoted inclusive of any Ore Reserves, and have been depleted for mining to the end of June 2018 and are quoted on a 100% basis)

ORE RESERVES

Economic analysis on this resource has indicated a break-even cut-off grade of 250ppm.

Ore Reserve Estimate (250ppm U3O8 cut-off)

250ppm cut-off Mt Grade
ppm U3O8
Mlb U3O8
Proved 41.97 525 48.49
Probable 13.14 485 14.04
Stockpiles 30.78 355 24.04
Total 85.89 455 86.57

(Ore Reserve has been depleted for mining to the end of June 2018 and are quoted on a 100% basis)

These reserves form the basis of the continuing life of mine plan for the Project.  The revised mine plan allows a project life of 20 years, based on current processing feed rates.

Latest prices

ASX A$ 0.20

Latest Prices

TradeTech U3O8 spot US$29.15/lb
TradeTech U3O8 long term US$31.00/lb

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