The mine is estimated to produce around 16 million pounds of uranium at an average annual rate during its 14 years life time.
Located in western Yavapai County, the project comprises 459 contiguous, unpatented lode mining and placer claims and two Arizona State land sections.
PEA estimates that total mine life capital, including contingences, replacement capital, and additional heap leach pads could reach $139.2m.
The base case for the PEA considered conventional mining and on-site heap leach recovery, producing intermediate uranium concentrate in the form of loaded resin which could be processed at the White Mesa mill in Utah.
However, uranium concentrated and loaded on resin could be shipped to other central processing facilities, Uranium Energy said.
Initial capital of $43.9m would be required for open pit mining equipment, mineral processing facilities, site preparation, access, infrastructure, buildings, and construction of the initial heap leach pad and a further $87.6m for high-wall and underground mining equipment.
