Extract Resources mine on track
March 12, 2010
Extract Resources Limited (EXT) said that its Rossing South project in Namibia still has the potential to be one of the world’s largest uranium mines as the feasibility study into the mine continues. The uranium miner said it hoped to announce an updated Rössing South resource in the third quarter of this year.
”The updated estimate is expected to increase the overall size and confidence levels of the Rössing South resource,” the company said in a statement.
Studies to fully define the costs associated with procurement of water, power and acid delivery, together with external infrastructure including rail and road, are ongoing.
At 1135 AEDT, Extract Resources shares were down 11c to $7.00.
”The updated estimate is expected to increase the overall size and confidence levels of the Rössing South resource,” the company said in a statement.
Studies to fully define the costs associated with procurement of water, power and acid delivery, together with external infrastructure including rail and road, are ongoing.
At 1135 AEDT, Extract Resources shares were down 11c to $7.00.
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