Energy Fuels Inc. reported updated pre-feasibility results for its wholly owned Pinyon Plain Mine in Coconino County, Arizona, a permitted underground uranium project that ships ore to the company’s White Mesa Mill in Utah under a toll milling agreement. The plan targets 133,000 short tons of ore grading 0.97% U3O8 over a 32-month mine life, producing an estimated 2.47 million pounds of recovered U3O8 at 96% recovery. Using an $80/lb uranium price assumption, the study estimates after-tax NPV at a 5% discount rate of about $78.3 million, with life-of-mine capital of roughly $10.6 million and operating costs of $542 per ton milled.

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