1) To help us become the leading ISR #uranium producer in the US, we are returning the Rosita ISR Facility to operational readiness. We have identified all of the key components and circuits that need to be addressed as part of this work.
2) The Rosita Central Processing Plant was nearly completely refurbished in 2008 before being shut down. That work is now being completed along with replacing outdated components, upgrading to state of the art and acquiring long-lead time parts to mitigate supply chain risks.
3) Most of this work will be completed using our own experienced workforce to reduce contractor costs and retain critical skillsets and institutional knowledge. Key components remain to be installed on the #zeroemission low temperature yellowcake #uranium drying circuit.
4) The rotary vacuum dryer has capacity to dry and package about 800,000 pounds of #U3O8 per year. Its building has concrete footings and superstructure for additional drying capacity as production grows. Rosita should be ready to go in about a year.
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$EU Strategy: The latest Red Book report by the OECD and the International Atomic Energy Agency on uranium resources, production and demand published last December says there are enough uranium resources for 135 years. The catch is most aren’t permitted or currently economic.
2. How does this shape $EU’s corporate strategy? We don’t focus on greenfield exploration as there are already sufficient resources particularly in the US. Known resources may require verification drilling to bring them up to modern 43-101 standards but this is lower risk.
3. We believe buying resources capable of in-situ production that are permitted or are ready to be so will prove more rewarding than exploration. Initial ISR Capex and Opex are comparatively low so it’s economic at lower #uranium prices with far less startup time.