US based Peninsula Energy (ASX:PEN) – which is up almost 20 per cent in early trade – reckons it will be just six months to production once it presses the button on the restart of its Lance project. Other uranium companies flying today include Africa-focused Paladin Energy (ASX:PDN), Lotus Resources (ASX:LOT) and Bannerman Resources (ASX:BAN) – companies that can ostensibly get into production quickly once prices improve to a certain level.
Paladin is a former producer at the Langer Heinrich mine in Namibia, which has been on care and maintenance but is ready to relaunch.
The company’s timetable envisages a restart of production by mid next year, with a fairly modest capital outlay of around $80m.
Lotus’ Kayelekera project in Malawi – purchased from Paladin in March – will cost just $US50m to get up and running, the company says.
Bannerman’s Etango-8 project in Namibia has been ‘reimagined’ as smaller scale mine initially, but with the ability to ramp up production as demand improves. |