|End product||Uranium concentrates|
|Mine type||Open pit|
|Estimated resources||127.3 million pounds (measured and indicated), average grade U3O8: 0.16%|
In 2012, we paid $430 million (US) (as well as $22 million (US) in stamp duty) to acquire the Yeelirrie uranium deposit. The deposit was discovered in 1972 and is a near-surface calcrete-style deposit that is amenable to open pit mining techniques. It is one of Australia’s largest undeveloped uranium deposits.
This year, we are reporting a new mineral resources estimate in accordance with Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI 43-101) based on a full document review, data validation, geological re-interpretation and modelling. We have provided the updated estimate in Mineral reserves and resources.