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U3O8 Corp. Highlights Planned Production Profile for Vanadium from the Laguna Salada Deposit Based on a PEA
U3O8 Corp. Highlights Planned Production Profile for Vanadium from the Laguna Salada Depos...
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[{"type":"text","content":"\n\n\n\nU3O8 Corp. Highlights Planned Production Profile for Vanadium from the Laguna Salada Deposit Based on a PEA\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Sept. 14, 2017\n\n\n\nTORONTO, Sept. 14, 2017 /CNW/ - U3O8 Corp. (TSX: UWE), (OTCQB: UWEFF) (\"U3O8 Corp.\" or the \"Company\") highlights the production schedule from the Preliminary Economic Assessment (\"PEA\") on its Laguna Salada Deposit, in which almost twice as much vanadium would be produced as uranium.    \n\n\n \n \n\n \n\"Vanadium prices have risen strongly in response to a supply shortfall that has been developing in the vanadium market,\" said Richard Spencer, President & CEO of U3O8 Corp. \"The trigger for the recent sharp price increase was a change in policy in China that resulted in restricted access to vanadium slag and higher local production costs, coming on the back of increasing vanadium consumption, notably from the steel and battery industries.  Based on a vanadium pentoxide price of US$5.50 per pound, the 0.8mlb to 1.2mlb vanadium production per year estimated in the PEA would contribute 12% of the Laguna Salada Project's revenue. Vanadium pentoxide is now trading at over US$12 per pound. In addition, Argentina paid an average of US$58 per pound for imported uranium last year, only marginally below the US$60 per pound price used in the economic analysis in the PEA\".\n\nProduction Schedule\n\nThe mining schedule defined in the PEA on Laguna Salada starts with production from the richest part of the Deposit so that revenue would be maximized so that the capital required to develop the Project would be paid back as quickly as possible – in two and a half years as per the current PEA.  Uranium production would be over one million pounds (\"mlbs\") per year over the first four years and then would decline gradually, averaging 0.6mlbs over the life of the mine (Figure 1).  Argentina's current uranium demand is approximately 0.55mlbs per year to fuel its three reactors.  \n\nVanadium production would be relatively cons...