McARTHUR RIVER
NEW PRODUCTION AREAS
Production update
Production for the quarter was 21% higher compared to the same period last year due to the timing of the annual maintenance shutdown. The mill will be shut down for three weeks in May to complete planned work. We expect our share of production this year will be 13.2 million pounds U3O8.
Operations update
We are continuing to advance the underground exploration drifts to the southwest and northeast directions and will focus on developing zone 4 and areas at the south end of the underground mine workings.
We are continuing to advance work on the environmental assessment for the Key Lake extension project. We plan to submit the final environmental impact statement for review by the provincial and federal regulators and pursue the required regulatory approvals in 2013.