A-Cap forges ahead with mining plans despite global crisis

The company yesterday announced its plans for the continued development of the Letlhakane Uranium Project towards becoming Botswana's first uranium mine in 2011.
The company's recently published Scoping Study (released to the ASX on October 17 2008) indicates the project is financially robust with an operating cost of US$29/lb. "An operating cost of US$29/lb would represent an operating margin of over US$25/lb in comparison to the current uranium oxide spot price of US$55/lb and over US$40/lb when considering the current long-term contract price of (US$70/lb)," says the company's CEO Andrew Tunks in a statement.

"Important stages in the progression of the project from exploration to mine are about to commence, which are planned to result in the completion of a full feasibility study by the end of 2009."