The Canadian Nuclear Security Fee (CNSC) has granted permission to broaden the McClean Lake tailings administration facility (TMF), reported Denison Mines (TSX: DML; HYSE: DNN). The uranium mine, mill and Jeb TMF are situated throughout the jap a part of the Athabasca Basin in northern Saskatchewan.
The general public listening to on the applying to amend the present mine and mill licence was held in October. The amended licence is legitimate till June 30, 2027.
The McClean Lake mill has a licenced capability of 24 million lb. uranium oxide yearly. The plant treats ore from the Cigar Lake mine beneath a toll millinh settlement of as much as 18 million lb. uranium oxide every year. The mill is owned 22.5% by Denison and 77.5% by the operator, Orano Canada.
Denison is contemplating using the McClean Lake mill as a regional remedy for uranium ore from the Gryphon deposit on its 95% owned Wheeler River challenge and The Heldeth Tue (THT) deposit (previously J zone) at Denison’s 67% owned Waterbury Lake property.
The prefeasibility examine for Wheeler River suggests it will value $623 million to develop the deposit with a manufacturing price of seven.6 million lb. uranium oxide yearly over a mine lifetime of 6.5 years. The PFS for the Phoenix deposit, additionally at Wheeler River, estimated capex of $322.5 million for a mine with a ten-year life and output of 59.7 million lb. uranium oxide yearly.
The Waterbury Lake PFS makes a capex estimate of $112 million to create a mine that provides 1.6 million lb. uranium oxide yearly with a few six-year life.