Elevate Uranium Ltd (ASX:EL8) is a geographically diverse uranium exploration company with significant resources in Namibia and Australia and is making new discoveries through active exploration programs. Elevate Uranium continues to explore on its large tenement position in the globally recognised Erongo uranium region in Namibia where the Company has demonstrated exploration success over the past four years with four discoveries and estimation of a maiden JORC resource at Koppies in Namibia. Namibia has an established and longstanding uranium mining industry and supportive government.
U-pgradeTM is Elevate Uranium’s 100% owned breakthrough beneficiation process which reduces ore mass by 95% prior to leach. Bench-scale testing on the Marenica Uranium Project in Namibia increases ore grade from 93 ppm to 5,000 ppm U3O8, greatly reducing mass flows and equipment sizes through the beneficiation process. The U-pgradeTM process provides the potential of a 50% reduction in CAPEX and OPEX compared with conventional processes. U-pgradeTM provides flexibility and optionality in project design and development.
The Company’s growth is dependent on factors within its control but also outside its control. Factors within the Company’s control include its exploration activities and the value add from application of U-pgradeTM. The factors outside the Company’s control include the increasing demand for carbon free reliable baseload energy which nuclear (fed from uranium) provides. The demand for uranium outweighs supply, which ultimately will result in an increase in the uranium price.
Murray Hill | Managing Director & CEO
Murray is a respected metallurgist with extensive experience in many facets of the mining industry. Murray is an innovative thinker who has made a positive impact on operations through his career. For the 11 years prior to joining the Company, he operated his own business providing metallurgical consulting services to the mining industry world-wide, including a range of uranium projects.
Murray is the champion of the U-pgradeTM process.
Shane McBride | CFO & Company Secretary
Nearly forty years of commercial management experience gained in listed Australian public companies incorporating the disciplines of corporate management, project development and mine site operations management, management and financial accounting, corporate finance, investor relations, and company secretarial functions. Shane has been intimately involved with exploration, development, scoping and pre-feasibility studies and the financing activities. Shane is a Fellow of CPA Australia, Fellow of Governance Institute of Australia and the Chartered Governance Institute; and is a Member of the Australian Institute of Directors.
Shane has been working in the uranium mining industry for 12 years.