Turkish uranium explorer Anatolia Energy has reported a Preliminary Economic Assessment (PEA) study results that estimates Temrezli uranium mine's net present value at $173.9m.
In addition, the results report total production of 9,125,000lbs from the mine through its mine life of 10 years at an annual rate of 1,000,000lbs.
Temrezli would be among the lowest cost quartile uranium production, stated Anatolia citing PEA results.
Anatolia managing director Jim Graham said that the assessment report validates the Temrezli uranium project potential for advancing the project to the production stage.
"We will immediately plan an in-fill and step-out drilling program to delineate additional resources, and implement our previously stated intention to conduct further hydrological testing," added Graham.
Anatolia intends to commence production at the mine in early 2016 after speeding up the permitting and environmental assessment process.