EL8: Annual Report to shareholders
Original announcement by asx on
- Company
- Elevate Uranium Limited
- Ticker
- EL8
- Exchange
- ASX
- Region
- Unavailable
- Primary commodity
- Uranium
- Secondary commodities
- None reported
- Document categories
- Other, Metallurgy, Resource update, Drill results
- Extracted
- 2026-10-15 07:06:39 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Elevate Uranium Limited reported significant progress in its 2026 Annual Report, highlighted by the successful pilot-scale operation of its proprietary U-pgrade™ beneficiation process in Namibia, which achieved 88% mass rejection and 79% uranium recovery in its first four stages. The company also substantially increased its total uranium Mineral Resource inventory to 181 Mlb U3O8, with notable increases at Marenica and Koppies, and maiden resources at Hirabeb and Namib IV. These technical advancements were supported by a successful $25 million capital raise and the acquisition of the Napperby Uranium Project.
Reasoning: Elevate Uranium Limited reported a highly successful year, marked by the advancement of its proprietary U-pgrade™ beneficiation process through pilot-scale operation with strong initial results, and a substantial increase in its total uranium Mineral Resource inventory across multiple projects. These technical achievements were complemented by a significant capital raise and strategic project acquisitions, positioning the company for future development.
Positive factors
- Successful pilot plant operation for U-pgrade™ beneficiation process, achieving high mass rejection and uranium recovery in initial stages.
- Significant increase in total uranium Mineral Resource inventory to 181 Mlb U3O8.
- Substantial resource grade improvement at Marenica (doubled to 180 ppm U3O8).
- Maiden resource estimates for Hirabeb and Namib IV projects.
- Successful $25 million capital raise in October 2025.
- Acquisition of Napperby Uranium Project, adding 8.0 Mlb U3O8.
- JORC 2012 compliant resource estimates with named Competent Persons.
Negative factors
- Pilot plant results for the final (fifth) stage of the U-pgrade™ process are still pending.
- Some drill results are outside current resource areas, indicating early-stage exploration.
- Angela drilling did not yield mineralization at the principal deep seismic reflector target.
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 29
Classification and evidence
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: the document describes a flotation route ("flotation")
Single Domain Onlynegative
Testing limited to one composite or domain — representativeness not established.
Why it applies: only one composite was tested
Extracted facts
Stored fact records: 29. Some facts used in scoring do not have a stored record.
Drill Results (10)
MAR1661Marenica Uranium · uraniumGrade: 300Grade Unit: ppm eU3O8Intercept: 9 mView all detailsHide details
Identity
- Hole ID
- MAR1661
- Project
- Marenica Uranium
- Commodity
- uranium
- Region
- namibia
- Reported Region
- namibia
- Ticker
- EL8
Geometry
- Grade
- 300
- Grade Unit
- ppm eU3O8
- Intercept
- 9 m
- From
- 3 m
- To
- 12 m
- Intercept Depth
- 3 m
Classification
- Program
- exploration
- Sample Type
- drill
- Group ID
- MAR1661:3-12
QA/QC
- QA/QC Disclosed
- Yes
- QP Signed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: This intercept shows moderate uranium grades over a good width, but its location outside the current resource area suggests it is part of early-stage exploration.
Positive factors
- Moderate grade (300 ppm eU3O8) for uranium.
- Good intercept length (9.0 m).
Negative factors
- Intercept is outside of the current resource area, indicating early-stage exploration.
Evidence · table
“300”
Context: 9.0
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
MAR2289Marenica Uranium · uraniumGrade: 439Grade Unit: ppm eU3O8Intercept: 12 mView all detailsHide details
Identity
- Hole ID
- MAR2289
- Project
- Marenica Uranium
- Commodity
- uranium
- Region
- namibia
- Reported Region
- namibia
- Ticker
- EL8
Geometry
- Grade
- 439
- Grade Unit
- ppm eU3O8
- Intercept
- 12 m
- From
- 14 m
- To
- 26 m
- Intercept Depth
- 14 m
Classification
- Program
- exploration
- Sample Type
- drill
- Group ID
- MAR2289:14-26
QA/QC
- QA/QC Disclosed
- Yes
- QP Signed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: This intercept shows moderate uranium grades over a strong width, but its location outside the current resource area suggests it is part of early-stage exploration.
Positive factors
- Moderate grade (439 ppm eU3O8) for uranium.
- Strong intercept length (12.0 m).
Negative factors
- Intercept is outside of the current resource area, indicating early-stage exploration.
Evidence · table
“439”
Context: 12.0
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
MAR1964Marenica Uranium · uraniumGrade: 748Grade Unit: ppm eU3O8Intercept: 2.9 mView all detailsHide details
Identity
- Hole ID
- MAR1964
- Project
- Marenica Uranium
- Commodity
- uranium
- Region
- namibia
- Reported Region
- namibia
- Ticker
- EL8
Geometry
- Grade
- 748
- Grade Unit
- ppm eU3O8
- Intercept
- 2.9 m
- From
- 30.1 m
- To
- 33 m
- Intercept Depth
- 30.1 m
Classification
- Program
- exploration
- Sample Type
- drill
- Group ID
- MAR1964:30.1-33
QA/QC
- QA/QC Disclosed
- Yes
- QP Signed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: This intercept shows moderate uranium grades, but its narrow width and location outside the current resource area suggest it is part of early-stage exploration.
Positive factors
- Moderate grade (748 ppm eU3O8) for uranium.
Negative factors
- Narrow intercept length (2.9 m).
- Intercept is outside of the current resource area, indicating early-stage exploration.
Evidence · table
“748”
Context: 2.9
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
HIR1722Hirabeb Resource · uraniumGrade: 194Grade Unit: ppm eU3O8Intercept: 24.5 mView all detailsHide details
Identity
- Hole ID
- HIR1722
- Project
- Hirabeb Resource
- Commodity
- uranium
- Region
- namibia
- Reported Region
- namibia
- Ticker
- EL8
Geometry
- Grade
- 194
- Grade Unit
- ppm eU3O8
- Intercept
- 24.5 m
- From
- 5 m
- To
- 29.5 m
- Intercept Depth
- 5 m
Classification
- Program
- exploration
- Sample Type
- drill
- Group ID
- HIR1722:5-29.5
QA/QC
- QA/QC Disclosed
- Yes
- QP Signed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: This intercept shows economic uranium grades over a strong width, but its location outside the current resource area suggests it is part of early-stage exploration.
Positive factors
- Strong intercept length (24.5 m).
- Economic grade (194 ppm eU3O8) for uranium.
Negative factors
- Intercept is outside of the current resource area, indicating early-stage exploration.
Evidence · table
“194”
Context: 24.5
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
HIR1863Hirabeb Resource · uraniumGrade: 367Grade Unit: ppm eU3O8Intercept: 8 mView all detailsHide details
Identity
- Hole ID
- HIR1863
- Project
- Hirabeb Resource
- Commodity
- uranium
- Region
- namibia
- Reported Region
- namibia
- Ticker
- EL8
Geometry
- Grade
- 367
- Grade Unit
- ppm eU3O8
- Intercept
- 8 m
- From
- 2 m
- To
- 10 m
- Intercept Depth
- 2 m
Classification
- Program
- exploration
- Sample Type
- drill
- Group ID
- HIR1863:2-10
QA/QC
- QA/QC Disclosed
- Yes
- QP Signed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: This intercept shows moderate uranium grades over a moderate width, but its location outside the current resource area suggests it is part of early-stage exploration.
Positive factors
- Moderate grade (367 ppm eU3O8) for uranium.
- Moderate intercept length (8.0 m).
Negative factors
- Intercept is outside of the current resource area, indicating early-stage exploration.
Evidence · table
“367”
Context: 8.0
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
NIV1354Namib IV Resource · uraniumGrade: 394Grade Unit: ppm eU3O8Intercept: 26.5 mView all detailsHide details
Identity
- Hole ID
- NIV1354
- Project
- Namib IV Resource
- Commodity
- uranium
- Region
- namibia
- Reported Region
- namibia
- Ticker
- EL8
Geometry
- Grade
- 394
- Grade Unit
- ppm eU3O8
- Intercept
- 26.5 m
- True Width
- 26.5 m
- From
- 3.5 m
- To
- 30 m
- Intercept Depth
- 3.5 m
Classification
- Program
- exploration
- Sample Type
- drill
- Group ID
- NIV1354:3.5-30
QA/QC
- QA/QC Disclosed
- Yes
- QP Signed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: This intercept shows moderate uranium grades over a continuous true width, indicating potential for resource extension outside the current area.
Positive factors
- Moderate grade (394 ppm eU3O8) for uranium.
- Continuous intercept length (26.5 m) with true width stated.
- Intercept is outside of the current resource area, indicating potential for extension.
Evidence · table
“394”
Context: 26.5
Tags used in scoring
True Width Disclosedpositive
Actual thickness perpendicular to structure is stated, not just downhole length.
Why it applies: true_width_m is 26.5
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
NIV0349Namib IV Resource · uraniumGrade: 2053Grade Unit: ppm eU3O8Intercept: 3.5 mView all detailsHide details
Identity
- Hole ID
- NIV0349
- Project
- Namib IV Resource
- Commodity
- uranium
- Region
- namibia
- Reported Region
- namibia
- Ticker
- EL8
Geometry
- Grade
- 2053
- Grade Unit
- ppm eU3O8
- Intercept
- 3.5 m
- True Width
- 3.5 m
- From
- 3.5 m
- To
- 7 m
- Intercept Depth
- 3.5 m
Classification
- Program
- exploration
- Sample Type
- drill
- Group ID
- NIV0349:3.5-7
QA/QC
- QA/QC Disclosed
- Yes
- QP Signed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: This intercept shows strong uranium grades over a narrow true width, indicating potential for resource extension outside the current area.
Positive factors
- Strong grade (2,053 ppm eU3O8) for uranium.
- True width stated (3.5 m).
- Intercept is outside of the current resource area, indicating potential for extension.
Evidence · table
“2,053”
Context: 3.5
Tags used in scoring
True Width Disclosedpositive
Actual thickness perpendicular to structure is stated, not just downhole length.
Why it applies: true_width_m is 3.5
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
D25.000Namib IV Resource · uraniumGrade: 516Grade Unit: ppm eU3O8Intercept: 7 mView all detailsHide details
Identity
- Hole ID
- D25.000
- Project
- Namib IV Resource
- Commodity
- uranium
- Region
- namibia
- Reported Region
- namibia
- Ticker
- EL8
Geometry
- Grade
- 516
- Grade Unit
- ppm eU3O8
- Intercept
- 7 m
- True Width
- 7 m
- From
- 2 m
- To
- 9 m
- Intercept Depth
- 2 m
Classification
- Program
- exploration
- Sample Type
- drill
- Group ID
- D25.000:2-9
QA/QC
- QA/QC Disclosed
- Yes
- QP Signed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: This intercept shows moderate uranium grades over a moderate true width, indicating potential for resource extension outside the current area.
Positive factors
- Moderate grade (516 ppm eU3O8) for uranium.
- Moderate intercept length (7.0 m) with true width stated.
- Intercept is outside of the current resource area, indicating potential for extension.
Evidence · table
“516”
Context: 7.0
Tags used in scoring
True Width Disclosedpositive
Actual thickness perpendicular to structure is stated, not just downhole length.
Why it applies: true_width_m is 7
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
ANG0002Angela · uraniumGrade: 1421Grade Unit: ppm eU3O8Intercept: 1.4 mView all detailsHide details
Identity
- Hole ID
- ANG0002
- Project
- Angela
- Commodity
- uranium
- Region
- nt
- Reported Region
- nt
- Ticker
- EL8
Geometry
- Grade
- 1421
- Grade Unit
- ppm eU3O8
- Intercept
- 1.4 m
- From
- 447.4 m
- To
- 448.8 m
- Intercept Depth
- 447.4 m
Classification
- Program
- exploration
- Sample Type
- drill
- Group ID
- ANG0002:447.4-448.8
QA/QC
- QA/QC Disclosed
- Yes
- QP Signed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: This intercept shows moderate uranium grades over a narrow width, but the overall drilling program did not achieve its primary exploration objective at the deep target.
Positive factors
- Moderate grade (1,421 ppm eU3O8) for uranium.
Negative factors
- Narrow intercept length (1.4 m).
- Drilling did not yield mineralization at the principal deep seismic reflector target.
Evidence · table
“1,421”
Context: 1.4
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
ANG0002Angela · uraniumGrade: 2884Grade Unit: ppm eU3O8Intercept: 0.6 mView all detailsHide details
Identity
- Hole ID
- ANG0002
- Project
- Angela
- Commodity
- uranium
- Region
- nt
- Reported Region
- nt
- Ticker
- EL8
Geometry
- Grade
- 2884
- Grade Unit
- ppm eU3O8
- Intercept
- 0.6 m
- From
- 447.7 m
- To
- 448.3 m
- Intercept Depth
- 447.7 m
Classification
- Program
- exploration
- Sample Type
- drill
- Group ID
- ANG0002:447.7-448.3
QA/QC
- QA/QC Disclosed
- Yes
- QP Signed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: This sub-interval shows strong uranium grades, but its very narrow width and the overall program's failure to hit the primary deep target limit its materiality.
Positive factors
- Strong grade (2,884 ppm eU3O8) for uranium.
Negative factors
- Very narrow intercept length (0.6 m).
- Drilling did not yield mineralization at the principal deep seismic reflector target.
Evidence · table
“2,884”
Context: 0.6
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Resource Estimates (17)
indicatedKoppies Project · uraniumTonnes: 98000000Grade: 200Grade Unit: ppm U3O8Contained Metal: 43.6Contained Unit: mlb u3o8View all detailsHide details
Identity
- Project
- Koppies Project
- Commodity
- uranium
- Region
- namibia
- Reported Region
- Namibia
- Ticker
- EL8
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr David Princep, Mr Daniel Guibal, Mr Peter Gleeson, Mr Arnold van der Heyden, Mr Dimitry Pertel, Dr Maxim Seredkin, Mr Ian Glacken, Mr Mark Menzies
- Resource group id
- resource:3f45fc3e66503fa5ff36
- Deposit or zone
- Koppies
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 98000000
- Grade
- 200
- Grade Unit
- ppm U3O8
- Contained Metal
- 43.6
- Contained Unit
- mlb u3o8
- Cutoff Grade
- 100
- Cutoff Unit
- ppm U3O8
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The Koppies project has a substantial indicated resource with an economic grade, providing a strong foundation for future development and high confidence in the estimate.
Positive factors
- Large indicated resource (43.6 Mlb U3O8) provides high confidence for project development.
- Economic grade (200 ppm U3O8) for uranium deposits.
- 100% ownership by the company.
Evidence · table
“200”
Context: 98.0
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredKoppies Project · uraniumTonnes: 35400000Grade: 160Grade Unit: ppm U3O8Contained Metal: 12.3Contained Unit: mlb u3o8View all detailsHide details
Identity
- Project
- Koppies Project
- Commodity
- uranium
- Region
- namibia
- Reported Region
- Namibia
- Ticker
- EL8
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr David Princep, Mr Daniel Guibal, Mr Peter Gleeson, Mr Arnold van der Heyden, Mr Dimitry Pertel, Dr Maxim Seredkin, Mr Ian Glacken, Mr Mark Menzies
- Resource group id
- resource:f1fcd3a2b7648bcdc5b8
- Deposit or zone
- Koppies
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 35400000
- Grade
- 160
- Grade Unit
- ppm U3O8
- Contained Metal
- 12.3
- Contained Unit
- mlb u3o8
- Cutoff Grade
- 100
- Cutoff Unit
- ppm U3O8
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The Koppies project includes a substantial inferred resource at an economic grade, contributing to the overall project scale, but its inferred classification suggests a need for additional drilling to improve confidence.
Positive factors
- Significant inferred resource (12.3 Mlb U3O8) adds to overall project scale.
- Economic grade (160 ppm U3O8) for uranium deposits.
Negative factors
- Inferred category indicates lower geological confidence, requiring further drilling for upgrade.
Evidence · table
“160”
Context: 35.4
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredKoppies Project · uraniumTonnes: 23300000Grade: 200Grade Unit: ppm U3O8Contained Metal: 10.2Contained Unit: mlb u3o8View all detailsHide details
Identity
- Project
- Koppies Project
- Commodity
- uranium
- Region
- namibia
- Reported Region
- Namibia
- Ticker
- EL8
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr David Princep, Mr Daniel Guibal, Mr Peter Gleeson, Mr Arnold van der Heyden, Mr Dimitry Pertel, Dr Maxim Seredkin, Mr Ian Glacken, Mr Mark Menzies
- Resource group id
- resource:40f6aa9a3ec2d6c578ed
- Deposit or zone
- Hirabeb
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 23300000
- Grade
- 200
- Grade Unit
- ppm U3O8
- Contained Metal
- 10.2
- Contained Unit
- mlb u3o8
- Cutoff Grade
- 100
- Cutoff Unit
- ppm U3O8
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The maiden inferred resource at Hirabeb adds new potential to the Koppies project with an economic grade, but its inferred classification means more work is needed to increase confidence.
Positive factors
- Maiden inferred resource (10.2 Mlb U3O8) adds new potential to the Koppies project area.
- Economic grade (200 ppm U3O8) for uranium deposits.
Negative factors
- Inferred category indicates lower geological confidence, requiring further drilling for upgrade.
Evidence · table
“200”
Context: 23.3
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredKoppies Project · uraniumTonnes: 29500000Grade: 155Grade Unit: ppm U3O8Contained Metal: 10.1Contained Unit: mlb u3o8View all detailsHide details
Identity
- Project
- Koppies Project
- Commodity
- uranium
- Region
- namibia
- Reported Region
- Namibia
- Ticker
- EL8
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr David Princep, Mr Daniel Guibal, Mr Peter Gleeson, Mr Arnold van der Heyden, Mr Dimitry Pertel, Dr Maxim Seredkin, Mr Ian Glacken, Mr Mark Menzies
- Resource group id
- resource:5f5381c55e09d238664e
- Deposit or zone
- Namib IV
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 29500000
- Grade
- 155
- Grade Unit
- ppm U3O8
- Contained Metal
- 10.1
- Contained Unit
- mlb u3o8
- Cutoff Grade
- 100
- Cutoff Unit
- ppm U3O8
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The maiden inferred resource at Namib IV contributes new potential to the Koppies project with an economic grade, but its inferred classification means more work is needed to increase confidence.
Positive factors
- Maiden inferred resource (10.1 Mlb U3O8) adds new potential to the Koppies project area.
- Economic grade (155 ppm U3O8) for uranium deposits.
Negative factors
- Inferred category indicates lower geological confidence, requiring further drilling for upgrade.
Evidence · table
“155”
Context: 29.5
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedMarenica Uranium Project · uraniumTonnes: 16800000Grade: 205Grade Unit: ppm U3O8Contained Metal: 7.5Contained Unit: mlb u3o8View all detailsHide details
Identity
- Project
- Marenica Uranium Project
- Commodity
- uranium
- Region
- namibia
- Reported Region
- Namibia
- Ticker
- EL8
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr David Princep, Mr Daniel Guibal, Mr Peter Gleeson, Mr Arnold van der Heyden, Mr Dimitry Pertel, Dr Maxim Seredkin, Mr Ian Glacken, Mr Mark Menzies
- Resource group id
- resource:25e227517c2d637ec669
- Deposit or zone
- Marenica
- Ownership percent
- 75 %
Resource Data
- Category
- indicated
- Tonnes
- 16800000
- Grade
- 205
- Grade Unit
- ppm U3O8
- Contained Metal
- 7.5
- Contained Unit
- mlb u3o8
- Cutoff Grade
- 100
- Cutoff Unit
- ppm U3O8
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The Marenica project saw a significant increase in its indicated resource grade, improving project economics and providing good geological confidence for future studies.
Positive factors
- Significant increase in resource grade (doubled to 180 ppm U3O8 overall) improves project economics.
- Economic grade (205 ppm U3O8) for uranium deposits.
- Indicated category provides good geological confidence.
Evidence · table
“205”
Context: 16.8
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredMarenica Uranium Project · uraniumTonnes: 117700000Grade: 175Grade Unit: ppm U3O8Contained Metal: 45.3Contained Unit: mlb u3o8View all detailsHide details
Identity
- Project
- Marenica Uranium Project
- Commodity
- uranium
- Region
- namibia
- Reported Region
- Namibia
- Ticker
- EL8
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr David Princep, Mr Daniel Guibal, Mr Peter Gleeson, Mr Arnold van der Heyden, Mr Dimitry Pertel, Dr Maxim Seredkin, Mr Ian Glacken, Mr Mark Menzies
- Resource group id
- resource:74b35620f4dabcfb1114
- Deposit or zone
- Marenica
- Ownership percent
- 75 %
Resource Data
- Category
- inferred
- Tonnes
- 117700000
- Grade
- 175
- Grade Unit
- ppm U3O8
- Contained Metal
- 45.3
- Contained Unit
- mlb u3o8
- Cutoff Grade
- 100
- Cutoff Unit
- ppm U3O8
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The Marenica project's inferred resource shows a significant grade increase and adds substantial contained metal, but its inferred classification means more work is needed to improve confidence.
Positive factors
- Significant increase in resource grade (doubled to 180 ppm U3O8 overall) improves project economics.
- Large inferred resource (45.3 Mlb U3O8) adds to overall project scale.
- Economic grade (175 ppm U3O8) for uranium deposits.
Negative factors
- Inferred category indicates lower geological confidence, requiring further drilling for upgrade.
Evidence · table
“175”
Context: 117.7
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredAngela · uraniumTonnes: 10700000Grade: 1310Grade Unit: ppm U3O8Contained Metal: 30.8Contained Unit: mlb u3o8View all detailsHide details
Identity
- Project
- Angela
- Commodity
- uranium
- Region
- nt
- Reported Region
- NT
- Ticker
- EL8
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr David Princep, Mr Daniel Guibal, Mr Peter Gleeson, Mr Arnold van der Heyden, Mr Dimitry Pertel, Dr Maxim Seredkin, Mr Ian Glacken, Mr Mark Menzies
- Resource group id
- resource:2268cd1bb5b730321b09
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 10700000
- Grade
- 1310
- Grade Unit
- ppm U3O8
- Contained Metal
- 30.8
- Contained Unit
- mlb u3o8
- Cutoff Grade
- 300
- Cutoff Unit
- ppm U3O8
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The Angela project holds a high-grade inferred resource with significant contained metal, indicating strong potential, but its inferred classification requires further work to increase confidence.
Positive factors
- High-grade inferred resource (1,310 ppm U3O8) indicates strong potential.
- Significant contained metal (30.8 Mlb U3O8).
Negative factors
- Inferred category indicates lower geological confidence, requiring further drilling for upgrade.
Evidence · table
“1,310”
Context: 10.7
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredNapperby · uraniumTonnes: 9500000Grade: 382Grade Unit: ppm U3O8Contained Metal: 8Contained Unit: mlb u3o8View all detailsHide details
Identity
- Project
- Napperby
- Commodity
- uranium
- Region
- nt
- Reported Region
- NT
- Ticker
- EL8
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr David Princep, Mr Daniel Guibal, Mr Peter Gleeson, Mr Arnold van der Heyden, Mr Dimitry Pertel, Dr Maxim Seredkin, Mr Ian Glacken, Mr Mark Menzies
- Resource group id
- resource:12c94c8151935caa9e76
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 9500000
- Grade
- 382
- Grade Unit
- ppm U3O8
- Contained Metal
- 8
- Contained Unit
- mlb u3o8
- Cutoff Grade
- 200
- Cutoff Unit
- ppm U3O8
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The Napperby project, acquired during the year, adds a high-grade inferred resource with synergy to the company's beneficiation process, but its inferred classification means more work is needed to increase confidence.
Positive factors
- Maiden inferred resource for the company (8.0 Mlb U3O8) adds new project to portfolio.
- High-grade inferred resource (382 ppm U3O8) indicates good potential.
- Technical synergy with U-pgrade™ beneficiation process.
Negative factors
- Inferred category indicates lower geological confidence, requiring further drilling for upgrade.
Evidence · table
“382”
Context: 9.5
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredThatcher Soak · uraniumTonnes: 11600000Grade: 425Grade Unit: ppm U3O8Contained Metal: 10.9Contained Unit: mlb u3o8View all detailsHide details
Identity
- Project
- Thatcher Soak
- Commodity
- uranium
- Region
- wa
- Reported Region
- WA
- Ticker
- EL8
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr David Princep, Mr Daniel Guibal, Mr Peter Gleeson, Mr Arnold van der Heyden, Mr Dimitry Pertel, Dr Maxim Seredkin, Mr Ian Glacken, Mr Mark Menzies
- Resource group id
- resource:22fc7f880a4c281a713c
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 11600000
- Grade
- 425
- Grade Unit
- ppm U3O8
- Contained Metal
- 10.9
- Contained Unit
- mlb u3o8
- Cutoff Grade
- 150
- Cutoff Unit
- ppm U3O8
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The Thatcher Soak project holds a high-grade inferred resource with significant contained metal, indicating good potential, but its inferred classification requires further work to increase confidence.
Positive factors
- High-grade inferred resource (425 ppm U3O8) indicates good potential.
- Significant contained metal (10.9 Mlb U3O8).
Negative factors
- Inferred category indicates lower geological confidence, requiring further drilling for upgrade.
Evidence · table
“425”
Context: 11.6
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
measuredBigrlyi Deposit · uraniumTonnes: 1700000Grade: 1300Grade Unit: ppm U3O8Contained Metal: 4.9Contained Unit: mlb u3o8View all detailsHide details
Identity
- Project
- Bigrlyi Deposit
- Commodity
- uranium
- Region
- nt
- Reported Region
- NT
- Ticker
- EL8
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr David Princep, Mr Daniel Guibal, Mr Peter Gleeson, Mr Arnold van der Heyden, Mr Dimitry Pertel, Dr Maxim Seredkin, Mr Ian Glacken, Mr Mark Menzies
- Resource group id
- resource:a545ca9168b9e5a99b01
- Ownership percent
- 20.87 %
Resource Data
- Category
- measured
- Tonnes
- 1700000
- Grade
- 1300
- Grade Unit
- ppm U3O8
- Contained Metal
- 4.9
- Contained Unit
- mlb u3o8
- Cutoff Grade
- 500
- Cutoff Unit
- ppm U3O8
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The Bigrlyi project has a high-grade measured resource, indicating very high geological confidence and strong potential for development.
Positive factors
- High-grade measured resource (1,300 ppm U3O8) provides highest geological confidence.
- Significant contained metal (4.9 Mlb U3O8) for the measured category.
Evidence · table
“1,300”
Context: 1.7
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedBigrlyi Deposit · uraniumTonnes: 3800000Grade: 1410Grade Unit: ppm U3O8Contained Metal: 11.7Contained Unit: mlb u3o8View all detailsHide details
Identity
- Project
- Bigrlyi Deposit
- Commodity
- uranium
- Region
- nt
- Reported Region
- NT
- Ticker
- EL8
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr David Princep, Mr Daniel Guibal, Mr Peter Gleeson, Mr Arnold van der Heyden, Mr Dimitry Pertel, Dr Maxim Seredkin, Mr Ian Glacken, Mr Mark Menzies
- Resource group id
- resource:5664b732678c9ad2f228
- Ownership percent
- 20.87 %
Resource Data
- Category
- indicated
- Tonnes
- 3800000
- Grade
- 1410
- Grade Unit
- ppm U3O8
- Contained Metal
- 11.7
- Contained Unit
- mlb u3o8
- Cutoff Grade
- 500
- Cutoff Unit
- ppm U3O8
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The Bigrlyi project has a high-grade indicated resource, providing good geological confidence and strong potential for development.
Positive factors
- High-grade indicated resource (1,410 ppm U3O8) provides good geological confidence.
- Significant contained metal (11.7 Mlb U3O8).
Evidence · table
“1,410”
Context: 3.8
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredBigrlyi Deposit · uraniumTonnes: 2500000Grade: 1340Grade Unit: ppm U3O8Contained Metal: 7.4Contained Unit: mlb u3o8View all detailsHide details
Identity
- Project
- Bigrlyi Deposit
- Commodity
- uranium
- Region
- nt
- Reported Region
- NT
- Ticker
- EL8
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr David Princep, Mr Daniel Guibal, Mr Peter Gleeson, Mr Arnold van der Heyden, Mr Dimitry Pertel, Dr Maxim Seredkin, Mr Ian Glacken, Mr Mark Menzies
- Resource group id
- resource:bf44fb28aea8201cdb5e
- Ownership percent
- 20.87 %
Resource Data
- Category
- inferred
- Tonnes
- 2500000
- Grade
- 1340
- Grade Unit
- ppm U3O8
- Contained Metal
- 7.4
- Contained Unit
- mlb u3o8
- Cutoff Grade
- 500
- Cutoff Unit
- ppm U3O8
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The Bigrlyi project has a high-grade inferred resource with strong potential, but its inferred classification means more work is needed to increase confidence.
Positive factors
- High-grade inferred resource (1,340 ppm U3O8) indicates strong potential.
- Significant contained metal (7.4 Mlb U3O8).
Negative factors
- Inferred category indicates lower geological confidence, requiring further drilling for upgrade.
Evidence · table
“1,340”
Context: 2.5
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredWalbiri Joint Venture · uraniumTonnes: 5100000Grade: 636Grade Unit: ppm U3O8Contained Metal: 7.1Contained Unit: mlb u3o8View all detailsHide details
Identity
- Project
- Walbiri Joint Venture
- Commodity
- uranium
- Region
- nt
- Reported Region
- NT
- Ticker
- EL8
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr David Princep, Mr Daniel Guibal, Mr Peter Gleeson, Mr Arnold van der Heyden, Mr Dimitry Pertel, Dr Maxim Seredkin, Mr Ian Glacken, Mr Mark Menzies
- Resource group id
- resource:b42d1674d423f3b349b8
- Ownership percent
- 22.88 %
Resource Data
- Category
- inferred
- Tonnes
- 5100000
- Grade
- 636
- Grade Unit
- ppm U3O8
- Contained Metal
- 7.1
- Contained Unit
- mlb u3o8
- Cutoff Grade
- 200
- Cutoff Unit
- ppm U3O8
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The Walbiri Joint Venture holds a high-grade inferred resource with good potential, but its inferred classification means more work is needed to increase confidence.
Positive factors
- High-grade inferred resource (636 ppm U3O8) indicates good potential.
- Significant contained metal (7.1 Mlb U3O8).
Negative factors
- Inferred category indicates lower geological confidence, requiring further drilling for upgrade.
Evidence · table
“636”
Context: 5.1
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredSundberg · uraniumTonnes: 1010000Grade: 259Grade Unit: ppm U3O8Contained Metal: 0.57Contained Unit: mlb u3o8View all detailsHide details
Identity
- Project
- Sundberg
- Commodity
- uranium
- Region
- nt
- Reported Region
- NT
- Ticker
- EL8
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr David Princep, Mr Daniel Guibal, Mr Peter Gleeson, Mr Arnold van der Heyden, Mr Dimitry Pertel, Dr Maxim Seredkin, Mr Ian Glacken, Mr Mark Menzies
- Resource group id
- resource:c471e58f720dd9f40a28
- Ownership percent
- 20.87 %
Resource Data
- Category
- inferred
- Tonnes
- 1010000
- Grade
- 259
- Grade Unit
- ppm U3O8
- Contained Metal
- 0.57
- Contained Unit
- mlb u3o8
- Cutoff Grade
- 200
- Cutoff Unit
- ppm U3O8
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The Sundberg project has an inferred resource with an economic grade, but its small scale and inferred classification mean it is less material and requires further work.
Positive factors
- Economic grade (259 ppm U3O8) for uranium deposits.
Negative factors
- Inferred category indicates lower geological confidence, requiring further drilling for upgrade.
- Relatively small contained metal (0.57 Mlb U3O8).
Evidence · table
“259”
Context: 1.01
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredHill One Joint Venture · uraniumTonnes: 80000Grade: 208Grade Unit: ppm U3O8View all detailsHide details
Identity
- Project
- Hill One Joint Venture
- Commodity
- uranium
- Region
- nt
- Reported Region
- NT
- Ticker
- EL8
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr David Princep, Mr Daniel Guibal, Mr Peter Gleeson, Mr Arnold van der Heyden, Mr Dimitry Pertel, Dr Maxim Seredkin, Mr Ian Glacken, Mr Mark Menzies
- Resource group id
- resource:385200e2409a8aa06c12
- Ownership percent
- 20.87 %
Resource Data
- Category
- inferred
- Tonnes
- 80000
- Grade
- 208
- Grade Unit
- ppm U3O8
- Cutoff Grade
- 200
- Cutoff Unit
- ppm U3O8
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The Hill One Joint Venture has a very small inferred resource, making it less material despite an economic grade, and requiring significant further work to be meaningful.
Positive factors
- Economic grade (208 ppm U3O8) for uranium deposits.
Negative factors
- Very small tonnage (0.08 Mt) and contained metal.
- Inferred category indicates lower geological confidence.
Evidence · table
“208”
Context: 0.08
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredKarins · uraniumTonnes: 1240000Grade: 556Grade Unit: ppm U3O8Contained Metal: 1.52Contained Unit: mlb u3o8View all detailsHide details
Identity
- Project
- Karins
- Commodity
- uranium
- Region
- nt
- Reported Region
- NT
- Ticker
- EL8
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr David Princep, Mr Daniel Guibal, Mr Peter Gleeson, Mr Arnold van der Heyden, Mr Dimitry Pertel, Dr Maxim Seredkin, Mr Ian Glacken, Mr Mark Menzies
- Resource group id
- resource:bd96772604c254464f7e
- Ownership percent
- 20.87 %
Resource Data
- Category
- inferred
- Tonnes
- 1240000
- Grade
- 556
- Grade Unit
- ppm U3O8
- Contained Metal
- 1.52
- Contained Unit
- mlb u3o8
- Cutoff Grade
- 200
- Cutoff Unit
- ppm U3O8
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The Karins project has a high-grade inferred resource with good potential, but its inferred classification means more work is needed to increase confidence.
Positive factors
- High-grade inferred resource (556 ppm U3O8) indicates good potential.
Negative factors
- Inferred category indicates lower geological confidence, requiring further drilling for upgrade.
Evidence · table
“556”
Context: 1.24
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredMalawiri Joint Venture · uraniumTonnes: 420000Grade: 1288Grade Unit: ppm U3O8Contained Metal: 1.2Contained Unit: mlb u3o8View all detailsHide details
Identity
- Project
- Malawiri Joint Venture
- Commodity
- uranium
- Region
- nt
- Reported Region
- NT
- Ticker
- EL8
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mr David Princep, Mr Daniel Guibal, Mr Peter Gleeson, Mr Arnold van der Heyden, Mr Dimitry Pertel, Dr Maxim Seredkin, Mr Ian Glacken, Mr Mark Menzies
- Resource group id
- resource:b5e2d06cd17a2484618a
- Ownership percent
- 23.97 %
Resource Data
- Category
- inferred
- Tonnes
- 420000
- Grade
- 1288
- Grade Unit
- ppm U3O8
- Contained Metal
- 1.2
- Contained Unit
- mlb u3o8
- Cutoff Grade
- 100
- Cutoff Unit
- ppm U3O8
Prior Estimate
- Resource Date
- 2026-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The Malawiri Joint Venture has an inferred resource with a world-class grade, indicating very strong potential, but its inferred classification means more work is needed to increase confidence.
Positive factors
- World-class grade (1,288 ppm U3O8) indicates very strong potential.
Negative factors
- Inferred category indicates lower geological confidence, requiring further drilling for upgrade.
Evidence · table
“1,288”
Context: 0.42
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Metallurgical Results (2)
pilot plantMarenica Uranium Project · uraniumRecovery: 79 %Head Grade: 89Head Grade Unit: ppm UView all detailsHide details
Identity
- Project
- Marenica Uranium Project
- Commodity
- uranium
- Region
- namibia
- Reported Region
- Namibia
- Ticker
- EL8
Test Work
- Program Status
- detailed
- Test Type
- pilot plant
- Processing Route
- U-pgrade™ beneficiation process (Stages 1-4)
- Sample
- Marenica ore
Recovery
- Recovery
- 79 %
- Recovery Basis
- actual_test
- Head Grade
- 89
- Head Grade Unit
- ppm U
- Conc. Grade
- 590
- Conc. Grade Unit
- ppm U
- Mass Pull
- 12 %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The U-pgrade™ pilot plant successfully demonstrated high mass rejection and uranium recovery in its first four stages, significantly upgrading the ore and enabling a more efficient acid leach route, which is a major de-risking step for the project.
Positive factors
- High mass rejection (88%) significantly reduces material to be processed downstream.
- High uranium recovery (79%) for the initial stages.
- Significant grade increase (from 89 ppm U to 590 ppm U) before final flotation.
- Pilot plant scale demonstrates scalability and continuous operation, de-risking the process.
- Enables a simpler and lower-cost acid leach route by removing carbonate.
Evidence · text
“The first four stages have demonstrated 88% mass rejection and recovered 79% of the uranium into the Stage 5 feed. Stages 1 to 4 increased the grade the Marenica samples from 105 ppm to 695 ppm U₃O₈ (89 ppm to 590 ppm U).”
Tags used in scoring
Pilot Scale Completepositive
Pilot or demonstration plant testing completed under continuous operation.
Why it applies: test_type names pilot-scale work
pilot plantMarenica Uranium Project · uraniumView all detailsHide details
Identity
- Project
- Marenica Uranium Project
- Commodity
- uranium
- Region
- namibia
- Reported Region
- Namibia
- Ticker
- EL8
Test Work
- Program Status
- detailed
- Test Type
- pilot plant
- Processing Route
- U-pgrade™ beneficiation process (Stage 5)
- Sample
- Marenica ore
Recovery
- Recovery Basis
- theoretical
- Conc. Grade
- 5000
- Conc. Grade Unit
- ppm U3O8
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-15T00:00:00.000Z
Reasoning: The target concentrate grade for the final flotation stage is high, but it is based on historical bench-scale test work, and pilot-scale results are still pending, which introduces some uncertainty regarding the final process performance.
Positive factors
- High target concentrate grade (5,000 ppm U3O8) indicates significant potential for further upgrading.
Negative factors
- This is a historical bench-scale result, and pilot-scale performance for Stage 5 is still being established.
- Results for the final stage are pending, introducing some uncertainty.
Evidence · text
“Historical bench-scale test work previously reported by the Company demonstrated a concentrate grade of approximately 5,000 ppm U₃O₈ (equivalent to 4,240 ppm U) from samples of Marenica ore.”
Tags used in scoring
Pilot Scale Completepositive
Pilot or demonstration plant testing completed under continuous operation.
Why it applies: test_type names pilot-scale work
Theoretical Recovery Onlynegative
Only theoretical or liberation-derived recovery reported, with no actual test result.
Why it applies: recovery_basis is theoretical
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.