ASX-listed A-Cap Resources on Friday announced the submission of a mining licence application for its flagship Letlhakane uranium project, to the Botswana Department of Mines.
This followed the company’s May submission of the environmental and social impact assessment to the Botswana Department of Environmental Affairs.
“This is an important milestone for A-Cap and the Letlhakane uranium project. The technical studies, to date, have shown that this project can be competitive with forecast uranium prices,” CEO Paul Thomson said.
The technical study of the $351-million project highlighted its potential economic viability of the project amid a rising uranium price.
The operating expenditure for the first five years of operation was expected to average at around $35/lb per pound of uranium oxide (U3O8), while the process plant was targeted to production of up to 3.75-million pounds U3O8 over the same period.
“Further work that will seek to further improve the project, in both the project economics and the technical understanding is ongoing,” Thomson said.