Located 550km north of Adelaide in South Australia, the Four Mile project is a joint venture with Quasar Resources (75%) and Alliance Resources (25%).
Heathgate Resources, an affiliate of Quasar, will undertake uranium capture at the Pannikan satelite plant and elution, precipitation, drying and packing at the Beverley processing plant.
About 2.128 million pounds of U3O8 is expected to produce over 10 months for cumulative cash expenditure of A$97.8m (US$89m).
In coming weeks, Quasar will provide an updated schedule of activities and cash flow projections which will reflect project delays, including securing government approvals.
