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Tournigan's Prefeasibility Study Indicates Kuriskova Could Be Among World's Lowest Cost Uranium Producers
Tournigan's Prefeasibility Study Indicates Kuriskova Could Be Among World's Lowest Cost Uraniu...
About this update from Azarga Metals Corp.
[{"type":"text","content":"\nTournigan's Prefeasibility Study Indicates Kuriskova Could Be Among World's Lowest Cost Uranium Producers\n\nTournigan's Prefeasibility Study Indicates Kuriskova Could Be Among World's Lowest Cost Uranium Producers\nVancouver, British Columbia CANADA, January 30, 2012 /FSC/ - Tournigan Energy Ltd. (TVC - TSX Venture, TGP - Frankfurt),  has received a Preliminary Feasibility Study (\"PFS\") on its flagship  Kuriskova high-grade uranium deposit located in Slovakia from its independent consultant, Tetra Tech, Inc. (Tt), in Golden, Colorado.\nHighlights of the PFS for Kuriskova:\n* Internal Rate of Return 30.8%; 1.9 year payback; $277 million Net Present Value (NPV) at an 8% discount rate (Pre-Tax, base case US$68/lb U3O8, US$15/lb Mo);\n* 94% increase of Indicated Resource to 28.5 million pounds of U3O8 since Tournigan's June 2009 Preliminary Economic Assessment (\"PEA\");\n* 92% uranium recovery in PFS, increased from 90% in the PEA;\n* 62% increase in the uranium grade to the process plant to 0.408% U3O8 in the PFS from 0.252% U3O8 in PEA;\n* 26% lower life of mine operating costs in the PFS compared to the PEA.  The PFS estimates US$22.98/lb U3O8 life of mine operating costs and US$16.68/lb U3O8 during the first 4 years of production.  These are net of a molybdenum credit of about US$1.27 per pound of  U3O8;\n* 1.5 year decrease of preproduction construction period in PFS to 3 years compared to 4.5 years in the PEA;\n* The project can be developed as an underground mine/processing facility with a very small surface footprint;\n* Kuriskova would utilize Best Available Technologies in the mining and processing operations.  The uranium can be extracted using conventional alkaline (non-acid) processing; and\n* There are multiple exploration targets within the Kuriskova License area, with the potential to expand the resource base and extend project life.\n\"We are very pleased with these results. They demonstrate that the Kuriskova project has the potential to be among the lowest cost uranium producers in the world. The PFS not only illustrates the robust economics of the Kuriskova project but also the competitive advantages it has over other uranium projects as a result of its high-grade resource and relatively low operating cost estimates.\" said Dorian L. (Dusty) Nicol,...