#IsoEnergy #UraniumMining #TonyMMine #EnergyFuels #NuclearEnergy #UraniumPrices #AthabascaBasin #WhiteMesaMill
IsoEnergy, listed on the TSX Venture Exchange as ISO, has announced plans to revive its Tony M mine located in Utah, setting an ambitious goal to recommence uranium mining operations by 2025. This move is stimulated by the current upswing in uranium prices, a critical factor that has also influenced Energy Fuels to initiate a restart of its uranium processing circuit at the renowned White Mesa mill.
Tony M mine, alongside Daneros and Rim, constitutes one of the three past-operating, fully sanctioned uranium mines under IsoEnergy’s umbrella in Utah. This mine is distinguished by its substantial scale, fully developed infrastructure, and permits, having historically contributed nearly a million pounds of uranium oxide (U3O8) over two operational phases spanning 1979-1984 and 2007-2008.
IsoEnergy’s CEO, Phil Williams, highlighted the advantageous position the company finds itself in, given the current uranium spot price hovering around $100 per pound. The company boasts ownership of multiple, previously operated, fully permitted uranium mines within the US, which are posited to be quickly reactivated at comparatively modest capital expenditures.
Furthermore, IsoEnergy has secured toll milling arrangements with Energy Fuels, ensuring access to the White Mesa mill, the sole operational conventional uranium mill in the US with a substantial licensed capacity exceeding 8 million pounds of U3O8 annually.
In addition to its US-based assets, IsoEnergy’s portfolio extends into Canada with the Hurricane uranium deposit situated on the wholly owned Larocque East property in the eastern Athabasca Basin. This deposit features an indicated resource tallying 63,800 tonnes with a grade of 34.5% U3O8, summing up to 48.5 million pounds of U3O8. It also boasts an inferred resource of 54,300 tonnes at a grade of 2.2% U3O8, equivalent to 2.7 million pounds of U3O8. IsoEnergy maintains ownership over three additional uranium projects in the prolific Athabasca Basin, underscoring its prominent stature in the uranium exploration and mining sector.
Comments are closed.