ASX-listed Global Uranium and Enrichment (GUE) has released a scoping study for the Hansen deposit, part of its Tallahassee uranium project in Colorado, US, confirming a technically viable and economically attractive development opportunity.

The study supports a seven-year mine life, with average production of 1.8-million pounds a year of uranium oxide (U₃O₈). The base case scenario at a uranium price of $90/lb delivers a pre-tax net present value (NPV) of $203-million and an internal rate of return (IRR) of 93%. At $110/lb, the NPV increases to $365-million and the IRR to 145%.

MD Andrew Ferrier described the Hansen deposit as a standout opportunity within the world-class Tallahassee project, which is home to one of the largest undeveloped uranium deposits in the US. 

"This scoping study and the impressive results generated, highlighted by a pre-tax IRR of 93% and an NPV of $203-million at $90/lb for U₃O₈, sets out a technically and environmentally viable pathway for Global Uranium to progress its development as we continue to execute on our growth strategy of building a 100-million-pound uranium portfolio."

Pre-production capital costs are estimated at $76-million, with cash operating costs of $58.65/lb U₃O₈, based on a contract ore processing scenario. The mining target comprises 15.2-million pounds of U₃O₈ contained in 5.7-million tonnes of material grading 0.12% U₃O₈, of which 12.9-million pounds will be recovered after beneficiation.

GUE has selected hydraulic borehole mining as the preferred mining method after evaluating multiple options, citing its economic and environmental benefits. The process uses selective hydraulic jet boring, followed by slurry pumping and surface separation.

“Notably, the study found that hydraulic borehole mining is particularly suited to this orebody. It is the most cost-effective option considered, and it has a significantly smaller environmental footprint than other mining techniques,” said Ferrier.

Ore will be beneficiated through high pressure slurry ablation, producing mill feed with an average grade of 0.68% U₃O₈. No federal, state or local permitting barriers have been identified that would prevent the project’s approval.

Ferrier said the timing of the study aligned with supportive US policy measures.

“Policy developments in the United States, including the President’s Executive Order reinstating uranium as a critical mineral, and the ongoing quest for reliable baseload power to replace retiring coal plants underscores the growing importance of nuclear energy both to the US economy and globally," he noted.

Last week, the Trump administration included the La Jara Mesa project in Colorado in its second wave of critical mineral production projects to receive fast-track treatment.