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 ( 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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