Australian-based Mantra Resources has completed the phase one definitive feasibility study ('DFS') for the company's Nyota Prospect, part of the Mkuju River Project in Tanzania.
The study confirms the technical and economic viability of the project and demonstrates that Nyota prospect will be a low cost uranium production.
Uranium resources based on the Mineral Resource Estimate weighing 67.7 million tonnes averaging 439 ppm were included in the DFS.
The resource base for Phase 1 supports an annual production of 4.2 million pounds of U3O8 during the the years of operations, based on an average annual throughput of 5.2 million tons of ore.
Phase one capital costs are estimated at $390.5m and the processing plant is based on simple acid leach and conventional resin-in-pulp technology.
The project is expected to be commissioned within 21 months.