"the uranium ore body at Etango is exposed at the surface...By reducing the scale of the project, they dramatically reduced the [planned capital expenditure] and did so in such a way where it actually reduced the [operating expense] rather than increasing it. For that reason, Bannerman has just published a [pre-feasability study] that has a pre-production capital cost of U$274M, which [is substantially lower than] the U$793M that was released in 2015. And, in the new scenario they have only halved the production to 3.5Mlbs per year.
Also, of importance to potential investors, it will be relatively easy with minimal incremental cost to scale the project back up to the original 7.2Mlbs that they previously earmarked as the production target with the larger project."
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