Mike Fagan,
Editor
Nov. 19, 2021
Uranium Royalty Corp. (TSX-V: URC)(NASDAQ: UROY) — currently trading around C$6.80 per share and the first-and-only pure play uranium royalty company in the space — has released an update on the Langer Heinrich Open-Pit Uranium Mine, Namibia, wherein the company maintains a royalty from Paladin Energy.
Uranium Royalty's royalty is valued at AUS$0.12 per kg U3O8 produced from the mine.
Highlights from Paladin’s November 2021 mine update include:
- Confirms the restart cost estimate of US$81M and a 17-year mine life supported by Ore Reserves of 84.8 Mt with an average U3O8 grade of 448 ppm
- Life of mine production target increased to 77.4 Mlbs of U3O8 (previously 76.1Mlbs)
- Estimated Life of Mine C1 Costs are updated to US$27.40 /lb. (previously US$26.90 /lb.) primarily due to increased estimated contract mining rates
- Confirmation of an estimated project execution timeframe of 18 months from project commencement to first production with full production achieved after a further 15 months
- A total of 83.8 Mlbs of U3O8 in Proved and Probable Reserves.
- A total of 128.1 Mlbs of U3O8 in all Mineral Resource categories, inclusive of stated Reserves and stockpiles.
With a robust 17-year mine life, the Langer Heinrich royalty should prove highly lucrative to Uranium Royalty for many years to come.
Over its relatively brief trading history, Uranium Royalty Corp. has amassed a geographically diverse portfolio of uranium royalties, including royalties on Cameco’s McArthur River and Cigar Lake mines — the two largest high-grade uranium mines on the planet.
The company also recently expanded its physical uranium holdings to 1,048,068 lbs U3O8 at a weighted average price of US$37.64 per pound. Uranium is currently trading above US$44 per pound, which points to the impeccable timing and brilliance of the company’s multi-faceted growth strategy.
With all the pertinent boxes checked, Uranium Royalty Corp. is well-positioned for growth in what’s shaping up to be a historic uranium bull run as utilities begin entering the market to secure long-term U3O8 contracts.
Be sure to bookmark Resource Stock Digest's page dedicated to Uranium Royalty news, interviews, and much more.
For interested speculators, don't miss our feature report on Uranium Royalty Corp.
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Yours in profits,
Mike Fagan
Editor, Resource Stock Digest
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