Reguibat Craton Uranium Project, Mauritania

The Reguibat project comprises of several laterally extensive developments of high-grade calcrete uranium mineralisation in Northern Mauritania in West Africa, positioning the area as a major emerging uranium province. A maiden resource of 50.2 million pounds of uranium, at an average grade of 330 parts per million uranium oxide has been declared at the project. The project has very robust financial characteristics, with cumulative cash flow over the 15 year mine life of $360 million and an internal rate of return of 78% before tax and royalties. The project is estimated at A$50.04 million.