Not only does Roughrider add a “world-class project” to anchor UEC’s Canadian high-grade conventional business, it also helps to unlock value from the recently acquired UEX portfolio in the eastern Athabasca basin, providing the company with critical mass to advance its production plans, he says.Since acquiring Roughrider in 2012, Rio Tinto has advanced substantial pre-production and environmental baseline work, including completion of dedicated geotechnical drilling, shaft vs.
"Our next steps for Roughrider will be to first complete an updated S-K 1300 technical report summary based on over 650 diamond drillholes already completed for a total of approximately 225 000 m of drilling on the project,” says Adnani. UEC is currently engaging with consultants to develop a technical report update in the next few months.
It also intends to progress permitting and a production study of Roughrider and optimise its integration with UEC's existing Canadian platform. “The acquisition builds on our strategic objective to create the leading Western supplier of secure and 100% unhedged uranium with a two-pronged platform: near-term, fully permitted and low-cost US ISR production; and a Canadian high-grade conventional pipeline,” he concludes.