Elevate Uranium (ASX: EL8) managing director and chief executive officer Murray Hill joins Small Caps to discuss the upcoming activities at the company's flagship Koppies uranium project in Namibia.
The company is well funded for the next phase of development at Koppies and its U-pgrade™ uranium ore beneficiation process after receiving binding commitments to raise $25 million.
Elevate plans to use the funds to complete a bench-scale metallurgical testwork program on Koppies ore followed by the design, construction and operation of an U-pgrade™ demonstration plant at the project.
The results of which will be used to complete a Koppies scoping study. The funds will also be used for approximately 100,000 metres of resource and exploration drilling across its Namibian and Australian tenement portfolio.
Koppies' potential was highlighted in a recently announced upgrade of the deposit mineral resource estimate from inferred to indicated status, resulting in 78% of the 66.1 Mlb resource being reported in the indicated category.
Elevate's total Namibian mineral resource has been increased to 112.1 million pounds of uranium.
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