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.
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For interested speculators, don't miss our feature report on Uranium Royalty Corp.
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Editor, Resource Stock Digest