Palangana is advancing the fully permitted, past-producing project for production re-start.
Palangana produced 563,600 lbs U3O8 from 2010 to 2016 and currently has the infrastructure to begin mining immediately. Uranium Energy has completed all the required permitting in order to mine at Palangana. It has been carried in a care and maintenance condition since cessation of uranium recovery in 2016.
During Fiscal 2023, Uranium Energy continued with the strategic plan for reduced operations at Palangana Mine. As a result, no uranium concentrate was extracted at Companies ISR Mines and processed at the Hobson and the Irigaray Processing Facilities during Fiscal 2023 and Fiscal 2022.
For Fiscal 2024, uranium extraction at PAA-1, 2 and 3 of Palangana Mine is expected to continue being operated at a reduced pace, including the deferral of major pre-extraction expenditures, and to remain in a state of operational readiness in anticipation of a sustained recovery of uranium prices. |