Expediting early production plans at Henkries Uranium Project in South Africa
Neo Energy Metals plc, the near term, low-cost uranium developer, is pleased to announce that it has appointed Pretoria-based Erudite Strategies (‘Erudite’) to compile an updated Order of Magnitude Capex and Opex estimate for Neo Energy’s Henkries Uranium Project (‘Henkries’ or ‘the Project’) in South Africa. This involves updating the financial evaluation report for the Project originally produced by Anglo American Corporation in 1979.
Erudite is a leading provider of Engineering, Procurement, and Construction Management (‘EPCM’) solutions with an international blue-chip mining client list. Erudite was selected based on its uncompromising commitment to safety and its ability to design both a fit for purpose and environmentally sustainable project solution. During the selection process, Erudite demonstrated a comprehensive understanding of the Company’s needs for a fast-track and modular approach to Henkries with the ability for flexibility in the possible execution strategies.
The circa four week project will incorporate the development of a capital cost estimate and budgetary quotes for any long-lead equipment, which will include a preliminary cost estimate and delivery schedule.
Neo Energy CEO Sean Heathcote said, “We are delighted to be working with Erudite; its focus on safety, environmental sustainability, and understanding of the unique needs of Henkries align perfectly with our objective to expedite early production at this exciting uranium project.
“While Anglo American moth-balled the Project in the late 1970s following a downturn in demand for uranium, the landscape for uranium has changed greatly with the market witnessing a significant resurgence fuelled by the growing recognition of nuclear’s role in carbon emission reduction. This positions Henkries as one of the few projects globally poised to commence production in the near term. Accordingly, we look forward to incorporating the updated estimates provided by Erudite into our financial models within an updated feasibility study ahead of paving the way for strategic development.
“The insights and expertise provided by Erudite will be essential in enhancing the understanding and assessment of the Project’s capital expenditure and operational expenses. This strategic move reflects Neo Energy’s commitment to thorough and accurate financial planning for Henkries.”
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Sean Heathcote |
CEO Neo Energy Metals plc |
