Madaouela (Niger)

•Located ~10 km south of Arlit, and Areva’s mining subsidiaries of Cominak and Somair,  in north central Niger

•Deposits hosted within sandstones of the Tim Mersoi Basin

•Approved Mad 1 Mine Permit (Jan 2016), and ESIA (July 2015)

•Infrastructure includes: road access, labour, ground water and available grid power

•Integrated Development Plan (PFS) updated August 2015

•Probable mineral reserves(1) are 60.54 Mlb U3O8

•Uranium Recovery forecast at 93.7%   

•Cash Operating Cost forecast  at 24.49 USD/lb U3O8

•Startup Capital Expenditure of USD 359 million

•NPV post all taxes and royalties, and for 100% of the Madaouela Project at US$70/lb U3O8 and 8% discount rate of US$340 million

•Further recovery and cost optimization to be focus of future studies


Mutanga (Zambia)

•Located ~200 km south of Lusaka, immediately north of Lake Kariba, at elevations of 500 metres – 960 metres

•Resource (September 2013) of10.3Mt @ 0.034% U3O8 (7.8Mlbs U3O8 contained) in the measured and indicated, and 65.2Mt @ 0.03% U3O8 (41.4Mlbs U3O8 contained) in the inferred category

‒Mutanga, Dibwe and Dibwe East deposits defined to date

•Uranium deposits hosted within sandstones of the Escarpment Grit Formation of the Karoo Super Group

•25 year mine license; based on open-pit mining + heap leach

•Considerable technical and environmental work completed to date

•Infrastructure includes: road access via 39 km gravel road, ground water and available grid power (~60 km away)


Falea (Mali)

•Located within the Falea – North Guinea-Senegal Neoproterozoic Basin, ~80 km from Areva’s Saraya East uranium deposit

•Three licenses: Bala; Madini; Falea

•In addition, Falea contains 63Mlbs Cu and 21Moz Ag

•Only 5% of the 225 km2 land package has been explored

•Most known ore zones remain open for exploration

•Considerable technical and environmental work completed to date

•Forecast underground mining operation

•Process route includes recovery of copper and silver

•Road and air access, including a gravel airstrip on-site