Scoping Study Confirms Strong Economics for Tallahassee Uranium Project

GUE

Global Uranium and Enrichment validates Hansen deposit with high IRR and low-cost mining approach

Global Uranium and Enrichment (ASX: GUE) has announced robust results from a scoping study on the Hansen deposit, part of its Tallahassee uranium project in Colorado, USA. The study confirms that the project is both technically feasible and economically attractive, positioning it as one of the most compelling undeveloped uranium assets in the country.

High Returns at Competitive Costs

At a base-case uranium price of $90/lb, the project delivers a pre-tax net present value (NPV) of $203 million and a 93% internal rate of return (IRR). At $110/lb, the NPV climbs to $365 million and the IRR soars to 145%, underscoring the project’s leverage to rising uranium prices.

The study supports a seven-year mine life with average annual production of 1.8 million pounds of uranium oxide (U₃O₈). Pre-production capital costs are pegged at $76 million, with cash operating costs of just $58.65/lb, thanks to the project's favorable grade and mining method.

Hydraulic Borehole Mining: A Strategic Advantage

GUE has selected hydraulic borehole mining for Hansen, citing its economic and environmental benefits. This method uses selective hydraulic jet boring and slurry pumping, followed by surface separation, offering lower costs and reduced environmental impact compared to traditional techniques.

The ore will be upgraded using high-pressure slurry ablation, yielding mill feed with an average grade of 0.68% U₃O₈. The project targets 15.2 million pounds of contained U₃O₈ in 5.7 million tonnes of ore, recovering 12.9 million pounds after beneficiation.

Strong Policy Tailwinds for U.S. Uranium

GUE Managing Director Andrew Ferrier highlighted the strategic timing of the study:

“This scoping study and the impressive results, highlighted by a pre-tax IRR of 93%, set out a technically and environmentally viable pathway for Global Uranium to progress its development.”

Ferrier added that U.S. policy support for nuclear energy and critical minerals, including the reinstatement of uranium as a critical mineral, strengthens the project's outlook. No permitting obstacles at federal, state, or local levels have been identified.

With the La Jara Mesa project also receiving fast-track status under the U.S. critical minerals initiative, GUE's Tallahassee project stands to benefit from growing momentum in the domestic uranium supply chain.