Elevate Uranium is a uranium exploration company that has significant resources in Namibia and Australia and is making new discoveries through active exploration programs. 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.
- Elevate Uranium is exploring on its large tenement position in the globally recognised Erongo uranium region in Namibia, a country with an established and longstanding uranium mining industry and supportive government.
- The Company has uranium tenements and joint venture interests containing substantial uranium resources in locations in the Northern Territory of Australia and Western Australia.
- The Company is adding value to its projects through application of its proprietary U-pgrade™ process.
U-pgrade™ is Elevate Uranium’s 100% owned breakthrough beneficiation process which reduces ore mass by greater than 95% prior to leach, 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 the Marenica Uranium Project).
Cost of production
The U-pgrade™ process provides the potential of a 50% reduction in CAPEX and OPEX compared with conventional processes. 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.