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Commodity prices are based on current international market prices. The phosphoric acid price is based on a trailing 12-month average price.
Capital Costs
The PEA is based on an annual throughput of 500,000t with a capital investment of $437 million including $31 million in sustaining capital and $41 million contingency (Table 5).
Table 5 - Summary of Capital Costs
---------------------------------------------------------------------------- Capital costsItems (million)----------------------------------------------------------------------------Mining $ 77----------------------------------------------------------------------------Process plant $ 181----------------------------------------------------------------------------Infrastructure and tailing management $ 69----------------------------------------------------------------------------Other (EPCM, indirect costs, etc.) $ 69----------------------------------------------------------------------------Contingency $ 41----------------------------------------------------------------------------TOTAL $ 437----------------------------------------------------------------------------
Operating Costs
Operating costs for the Berlin Project are expected to average $240/t of mineralized material including royalties and a 10% contingency (Table 6).
Table 6 - Summary of Operating Costs
----------------------------------------------------------------------------Items Cost per tonne----------------------------------------------------------------------------Revenue-based royalties $ 20----------------------------------------------------------------------------Mining $ 60----------------------------------------------------------------------------Processing $ 136----------------------------------------------------------------------------G&A $ 4----------------------------------------------------------------------------Contingency $ 20----------------------------------------------------------------------------TOTAL $ 240----------------------------------------------------------------------------
Mineral Resources(1)
The Berlin PEA is based on resources prepared in accordance with National Instrument 43-101 ("NI 43- 101") at a cut-off grade of 0.04% U3O8 (Table 7).
Table 7 - Resource Estimate Summary for Uranium and Other Commodities
---------------------------------------------------------------------------- Uranium Phosphate Vanadium Yttrium -------------------------------------------------------NI 43-101 Tonnes Resource (million) Grade (Mlb) Grade (Mt) Grade (Mlb) Grade (t)----------------------------------------------------------------------------Indicated 0.6 0.11% 1.5 8.4% 0.5 0.4% 6.0 461ppm 294----------------------------------------------------------------------------Inferred 8.1 0.11% 19.9 9.4% 0.8 0.5% 91.0 500ppm 4,066-------------------------------------------------------------------------------------------------------------------------------------------------------- Neodymium Nickel Molybdenum Rhenium -------------------------------------------------------NI 43-101 TonnesResource (million) Grade (t) Grade (Mlb) Grade (Mlb) Grade (t)----------------------------------------------------------------------------Indicated 0.6 110ppm 70 0.2% 3.1 570ppm 0.8 6ppm 4----------------------------------------------------------------------------Inferred 8.1 100ppm 813 0.2% 42.1 620ppm 11.0 7ppm 55----------------------------------------------------------------------------
