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Tombador Iron Ltd. ( (AU:AEU) ) has issued an update.
Atomic Eagle has declared a maiden Probable Ore Reserve of 39.6 million tonnes at 320ppm U3O8, containing 28 million pounds of U3O8, for its Muntanga project in Zambia, aligning the reserve with JORC Code guidelines and a 2025 feasibility study. The study outlines a 12-year, low-strip open-pit and heap-leach operation producing an average 2.2 million pounds of U3O8 annually, with crush-only processing to 25mm, life-of-mine recoveries above 90% and low acid consumption of about 20kg H2SO4 per tonne.
An independent review by PRODEO Consulting concluded that the feasibility study’s production targets, costs and financial outcomes are technically sound, underpinned by conventional flowsheets and credible mining and processing assumptions. The review found no fatal flaws and highlighted optimisation opportunities, while management signalled that expanding uranium resources will be key to increasing throughput and materially enhancing the project’s scale, economics and long-term value for stakeholders.
More about Tombador Iron Ltd.
Atomic Eagle Limited is an ASX- and OTCQB-listed uranium developer focused on the Muntanga Uranium Project in Zambia. The company is advancing a low-strip, open-pit heap-leach operation designed to produce saleable U3O8 using conventional processing methods and industry-standard technologies.
Average Trading Volume: 1,244,993
Technical Sentiment Signal: Buy
Current Market Cap: A$164.2M
See more insights into AEU stock on TipRanks’ Stock Analysis page.