Paladin currently operates the Mount Isa Project on an activity and expenditure level that maintains the tenure in good standing.
Away from the estimated resources there are potentially many targets obscured by alluvium that remain untested. The execution of creative exploration to discover further resources represents a significant opportunity for the Mount Isa Project.
The expectation in Queensland is that a conservative government will strongly support uranium mining while a Labor (incumbent) government will not permit it.
Internal engineering studies show that there is potential for an operation to be developed. The operation may have throughput rates of 4-5Mt pa to produce 5-7Mlb U3O8 pa. It is expected that three to four years of exploration and metallurgical work will be required to provide sufficient information to implement a BFS.
The Project has strong fundamentals given the extent of exploration and engineering studies completed in the past which will provide a strong foundation for further work to proceed when appropriate political and market conditions are realised.