U-pgrade™ is Elevate Uranium’s 100% owned breakthrough beneficiation process which reduces ore mass by greater than 95% prior to leach by removing gangue material, thereby concentrating uranium and increasing the grade to be leached. U-pgrade™ increases the Marenica Uranium Project ore grade from 93 ppm to 5,000 ppm U3O8 and reduces capital and operating costs by approximately 50% compared to conventional processing (as indicated from bench-scale testing on uranium material from the Marenica Uranium Project).
U-pgrade™ provides flexibility and optionality in project design and development, and due to the anticipated lower cost of production, potentially allows Elevate Uranium to develop a mining operation at lower uranium prices than its peers.
Elevate Uranium is planning to develop the Koppies Uranium Project in Namibia. The Company has constructed a demonstration/pilot plant ("Plant") and is planning operation of the Plant on Koppies ore late in CY 2025 to prove the performance of U-pgradeTM ahead of studies to confirm the capital and operating cost to produce yellowcake at Koppies.
The Company’s shares are listed on the Australian Securities Exchange ticker code ASX:EL8 and are traded on several overseas exchanges including OTCQX: ELVUF, NSX:EL8 and several German exchanges.