Forsys flagship Norasa uranium project is one of the very few uranium projects in the world that is construction ready with a mining licence.
Forsys Metals Corp is an innovative uranium development Company, with a dynamic management team with strong African mining experience, focused on creating shareholder value by developing uranium assets in Namibia, a politically stable and mining friendly jurisdiction. The Company is engaged in the business of acquiring, exploring and developing mineral properties, either independently, or through joint ventures.
The Company’s flagship Norasa Uranium Project is 100% owned, permitted and has a large NI 43-101 Resource and Reserve. The March 2015 Definitive Feasibility Study (“DFS”) confirmed the robustness of Norasa’s economics: The highlights of the DFS over previous studies were, a substantially larger process plant, increased Mineral Reserves to 90.7 Mlbs, increased annual and life of mine production, and lower operating costs. The report was prepared by AMEC together with external consultants. (AMEC is a leading international engineering and project management firm with prior involvement in the development of NI 43-101 Technical Reports for Norasa.)
The Norasa Project includes the wholly owned Valencia project (ML 149) which has a 25-year mining licence. In addition, the Company has a 100% interest in Dunefield Mining Company (Pty) Ltd.’s Namibplaas project (EPL 3638), which is located 7.5 km north east of Valencia.
The Norasa Project has NI 43-101 compliant Reserves of 90.7 Mlbs U3O8 supporting a 15 year mine life included in Measured and Indicated Resources of 115.0 Mlbs U3O8 with a further 11.0 Mlbs inferred U3O8. Power, water and transport resources are readily accessable and the Namibian government has signalled a strong commitment to ensuring the success of Norasa. The Valencia and Namibplaas properties are considered to be material properties.
Compelling Reasons to Invest in Forsys
Forsys is well positioned to supply significant levels of uranium to meet future demands
- The company’s flagship asset, Norasa, is one of the world’s few fully licensed undeveloped uranium deposits in the world, having been granted the third 25 year Mining Licence over the last few decades in Namibia;
- is construction ready and is located 25 km from Rio Tinto’s Rössing mine, a historically significant uranium producer;
- has Proven and Probable Reserves of 90.7Mlbs of uranium, grading 200ppm DFS LoM operating costs per pound of US$34.72/lb with an NPV pre-tax of US$622.6M;
- has an open pit mine design with a low strip ratio and lower quality quartile mining costs
- Namibia is the fifth largest uranium producing country globally, mining-friendly jurisdiction with strong governmental support for the Norasa project and has strong infrastructure, and is a proven, low-cost producer of uranium;
- The Company has an experienced and highly regarded African focused board and management team;
- The Company is well capitalised and well positioned to capitalize on attractive mid and long-term sector dynamics. through acquisition and joint venture;
- There are positive Uranium macro fundamentals given the doubling in demand for electricity; global G20 ambitions to become carbon neutral using clean renewable energies; demand for uranium is expected to exceed primary production as evidenced by the increase in nuclear reactors under construction, proposed or planned to be built;