Elevate Uranium CEO Murrey Hill joined Steve Darling from Proactive to share exciting updates about the exploration company's focus on uranium and its strategic expansion plans.
Elevate Uranium is actively involved in significant drilling operations in Namibia, utilizing five rigs to conduct approximately 125 holes per week. Each drilling operation, with a cost of around $1,000 per hole, contributes to the company's resource base. With four discoveries made in four years, Elevate Uranium is committed to expanding these resources further. The company plans to increase its workforce in Namibia and Perth to support its growing operations.
Hill emphasized the increasing global acceptance of nuclear power as a carbon-free and reliable energy source, driving the demand for uranium. With rising prices and growing demand, Elevate Uranium is optimistic about the future of uranium.
One of the company's key projects, Koppies, boasts a resource estimate of 58 million pounds. Elevate Uranium is focused on enhancing the resource classification from inferred to indicated and conducting metallurgical tests to optimize the extraction process, aiming to reduce both capital and operational expenditures by 50%. Future plans include establishing a pilot plant to validate their upgrade process.
Recognizing the importance of the US market, where 25% of the world's reactors are located, Elevate Uranium sees significant investment potential from the US, supported by a knowledgeable investment community. With its strategic focus on uranium exploration and expansion, Elevate Uranium is well-positioned to capitalize on the growing demand for nuclear energy worldwide.
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