A-Cap Resources has submitted a mining licence application (MLA) for its Letlhakane uranium project to the Botswana Department of Mines.

The Technical Study outcomes highlighted the potential economic viability of the project with a rising uranium price.

The Technical Study was completed by A-Cap Resources with the assistance of consultants Optiro, Cube Consulting, SLR Consulting (South Africa), Kappes Cassiday & Associates, OMC Hydromet and Lycopodium Minerals Pty Ltd.

The relatively low CAPEX of US$351 million including contingency is in line with previous estimates and reflects the project’s ideal location, near substantial infrastructure with road, rail, and power adjacent to the project area.

The project OPEX is an improvement on the scoping study and reflects much of the progress made with the metallurgical and mining studies.

The OPEX for the first 5 years ranges between US$32 and US$40 averaging US$35 per pound U3O8. The process plant will be targeting production of up to 3.75 million pounds U3O8 per annum over the first 5 years (ranging between 3-3.75Mlbs U3O8).