PEA on US Uranium Firm's Wyoming Project Robust, Outlines Satellite Model

PEA on US Uranium Firm’s Wyoming Project Robust, Outlines Satellite Model

August 30, 2021 (Investorideas.com Newswire) The contents of the preliminary economic assessment on Azarga Uranium’s Gas Hills asset and uranium prices are discussed in a Fundamental Research Corp. report. In an Aug. 24 research note, analyst Sid Rajeev reported that Fundamental Research Corp. increased its fair target price on Azarga Uranium Corp. (AZZ:TSX; AZZUF:OTCQB) to CA$1.11 per share from CA$1.03 after the uranium firm released a "robust" preliminary economic assessment (PEA) for its Gas Hills project in Wyoming.

"The PEA confirmed our assumption that Gas Hills can be a satellite project of the company’s flagship Dewey Burdock project in South Dakota," Rajeev wrote.

The analyst reviewed the PEA. It outlined a satellite-model operation producing 1 million pounds of uranium per year over a seven-year mine life. Processing will take place at a facility on the Dewey Burdock property.

As for Gas Hills costs, initial capex required is an estimated US$26 million ($26M), […]

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