Proactiveinvestors Australia A-Cap Resources Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia A-Cap Resources Ltd RSS feed en Fri, 21 Jun 2019 03:18:52 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - A-Cap Resources to raise $4 million in underwritten rights offer ]]> https://www.proactiveinvestors.com.au/companies/news/194461/a-cap-resources-to-raise-4-million-in-underwritten-rights-offer-194461.html A-Cap Resources Limited (ASX:ACB) intends to raise around $4 million in a fully underwritten non-renounceable entitlement offer to shareholders.

The company will issue around 66 million shares at 6 cents each on the basis of two new ordinary shares for every 6.54 ordinary shares.

Underwritten by Jiangsu Shengan

Any final shortfall will be underwritten by Jiangsu Shengan Resources Group Co Ltd, which holds around 41% of the company.

Jiangsu will not take up its entitlement under the offer and will only take up new shares should there be any shortfall.

Proceeds will be used to fund the flagship Letlhakane Uranium Project in Botswana as well as operational expenditure and A-Cap’s new energy strategy.

READ: A-Cap Resources acquires nickel-cobalt project as cobalt price hits highest level since 2008

The latter includes exploration of nickel-cobalt mineral deposits.

A-Cap recently entered an agreement to acquire a nickel-cobalt project in Queensland, providing it with an opportunity to diversify its portfolio into cathode materials production and supplying the battery industry.

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Mon, 09 Apr 2018 08:48:00 +1000 https://www.proactiveinvestors.com.au/companies/news/194461/a-cap-resources-to-raise-4-million-in-underwritten-rights-offer-194461.html
<![CDATA[News - A-Cap Resources acquires nickel-cobalt project as cobalt price hits highest level since 2008 ]]> https://www.proactiveinvestors.com.au/companies/news/193664/a-cap-resources-acquires-nickel-cobalt-project-as-cobalt-price-hits-highest-level-since-2008-193664.html A-Cap Resources Limited (ASX:ACB) has entered into an agreement to acquire a nickel-cobalt project in Queensland, Australia.

The project represents a strategic opportunity for A-Cap to diversify its mineral portfolio into cathode materials production and supply to the battery industry.

Meanwhile, A- Cap will continue to focus on its flagship Letlhakane Uranium Project in Botswana, aiming to supply uranium products for nuclear facilities and to the battery industry markets.

Increased focus on battery markets

A-Cap chairman Shen Angang said: “The option to purchase ML 80098 is part of A-Cap’s intention to extend its clean energy related strategy from uranium focussed to include minerals related to energy storage materials.

“As nickel and cobalt are integral to battery cathode production, this agreement marks the beginning of a targeted resource approach for A-Cap.”

Cobalt is a key battery metal

Cobalt is a key ingredient in new-age batteries used for electric vehicles and energy storage, and prices have surged.

Carmakers from Tesla (NASDAQ:TSLA) to Volkswagen (ETR:VOW) are looking to secure long-term supplies of cobalt for use in their rechargeable batteries.

The LME (London Metal Exchange) cobalt price is about US$95,000 a tonne, or about 200% higher compared to January 2017.

Nickel-cobalt project in Queensland

The project was extensively drilled by BHP-INCO in the late 1960’s, and again in the late 1990’s by Preston Nickel.  Queensland Pacific Nickel also worked in the area again in the early 2000’s.

This historical work was aimed at defining an economic nickel- cobalt resource hosted in laterite.

Throughout the past exploration programs, the various companies have conducted extensive metallurgical and other technical studies to define an economic nickel resource.

A-Cap’s objective is to revisit the past exploration work and conduct additional drilling and metallurgy with the focus on cobalt mineralisation.

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Fri, 23 Mar 2018 12:24:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193664/a-cap-resources-acquires-nickel-cobalt-project-as-cobalt-price-hits-highest-level-since-2008-193664.html
<![CDATA[News - A-Cap Resources has one of world's largest undeveloped uranium deposits, to reveal mining licence details ]]> https://www.proactiveinvestors.com.au/companies/news/184329/a-cap-resources-has-one-of-world-s-largest-undeveloped-uranium-deposits-to-reveal-mining-licence-details-184329.html A-Cap Resources Ltd (ASX:ACB) has been granted a trading halt by the ASX, pending details in relation to the company’s mining licence for the Letlhakane Uranium Project (ML2016/16L).

The project is one of the world’s largest undeveloped uranium deposits, and lies adjacent to Botswana’s main North-South infrastructure corridor that includes a sealed all-weather highway, railway line and the national power grid.

A year ago A-Cap was granted a mining license which is valid for 22 years.

The licence was granted on the basis of the results of an Environmental Impact Statement and technical study based on shallow open pit mining and heap leach processing to produce up to 3.75 million pounds of uranium per annum over a mine life of 18 years.

The halt will remain in place until the opening of trade on Monday 25th September 2017, or earlier if an announcement is made to the market.

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Thu, 21 Sep 2017 09:25:00 +1000 https://www.proactiveinvestors.com.au/companies/news/184329/a-cap-resources-has-one-of-world-s-largest-undeveloped-uranium-deposits-to-reveal-mining-licence-details-184329.html
<![CDATA[News - A-Cap Resources Ltd granted ASX trading halt ]]> https://www.proactiveinvestors.com.au/companies/news/147741/a-cap-resources-ltd-granted-asx-trading-halt-69734.html A-CAP Resources Ltd (ASX:ACB) has been granted a trading halt by the ASX, pending an announcement in relation to a capital raising.

The halt will remain in place until the opening of trade on Wednesday 13th July 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.


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Mon, 11 Jul 2016 16:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/147741/a-cap-resources-ltd-granted-asx-trading-halt-69734.html
<![CDATA[News - A-Cap Resources Ltd requests time for convertible note deed ]]> https://www.proactiveinvestors.com.au/companies/news/147740/a-cap-resources-ltd-requests-time-for-convertible-note-deed-69625.html A-CAP Resources Ltd (ASX:ACB) has requested a trading halt for its shares pending news on a convertible note deed entered into with Jiangsu Chixiang Precision Gear in June 2016.

The Note had a face value of $5,000,000 and was entered into toward funding feasibility work for the company's Letlhakane Uranium project in Botswana.

The trading halt is expected to last until 7 July 2016.

 

 

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Tue, 05 Jul 2016 13:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/147740/a-cap-resources-ltd-requests-time-for-convertible-note-deed-69625.html
<![CDATA[News - A-Cap Resources Ltd heads to market ]]> https://www.proactiveinvestors.com.au/companies/news/147739/a-cap-resources-ltd-heads-to-market-69298.html A-CAP Resources Ltd (ASX:ACB) is heading to market with a capital raising, and the ASX has granted the company a trading halt to prepare.

The company is focused on the Letlhakane uranium project in Botswana.

The halt will remain in place until the opening of trade on Wednesday 22nd June 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 20 Jun 2016 10:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/147739/a-cap-resources-ltd-heads-to-market-69298.html
<![CDATA[News - A-Cap Resources Ltd gains environmental approval for Letlhakane Uranium Project ]]> https://www.proactiveinvestors.com.au/companies/news/147738/a-cap-resources-ltd-gains-environmental-approval-for-letlhakane-uranium-project-68697.html Cashed up A-CAP Resources Ltd (ASX:ACB) has received environmental approval from the Botswana Department of Environment Affairs for the Letlhakane Uranium Project in Botswana.

This is a major milestone for A-Cap with the EIS approval being an important requirement in securing a mining licence.

The Letlhakane Uranium Project ranks in the top ten of undeveloped uranium deposits globally, with a resource of 365 million pounds of uranium.

A study projected the project would generate a pre-tax net present value of US$383 million based on a 3 million tonne per annum U3O8 mining operation.

Inital Capex was projected at US$350 million while Opex was forecast at US$35 a pound for the first five years.

A-Cap recently completed a non-renounceable entitlement offer raising $5 million.

After paying down debt, A-Cap had $4.8 million in cash at the end of the March quarter.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 19 May 2016 11:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/147738/a-cap-resources-ltd-gains-environmental-approval-for-letlhakane-uranium-project-68697.html
<![CDATA[News - A-Cap Resources' Mea coal project in Botswana given thumbs up by Sedgman ]]> https://www.proactiveinvestors.com.au/companies/news/147736/a-cap-resources-mea-coal-project-in-botswana-given-thumbs-up-by-sedgman-52750.html A-CAP Resources (ASX:ACB) has revealed positive results for its Mea coal project in Botswana from an independent study conducted by Sedgman (ASX:SDG).

The study indicates that the Mea Coal Project is robust, and Sedgman, which was commissioned to assess project development potential, has recommended that it be progressed to definitive feasibility stage.

Coal at Mea exists in multiple seams, ranging from high quality domestic thermal coal, export quality coal and possibly material suitable for metallurgical applications.

The project is situated just 5 kilometres north of the A30 highway, complemented by all-weather roads and grid power lines passing through the prospect area.

A rail spur to Sua Pan also passes just north of the project.

From initial drilling results it became clear that the Mea coal project had distinct advantages because the quality of the coal is superior to many other deposits in Botswana.

Results have shown that there is a significant resource of export quality coal and high quality feed for domestic use, and previous test work shows potential for PCI coal, adding further value to the discovery.

A-Cap is now assessing options to advance Mea to feasibility and production.

In parallel, A-Cap is continuing further coal evaluation programs at the Bolau and Foley projects surrounding African Energy's (ASX:AFR) 2.5 billion tonne Sese coal project.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 12 Feb 2014 14:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/147736/a-cap-resources-mea-coal-project-in-botswana-given-thumbs-up-by-sedgman-52750.html
<![CDATA[News - A-Cap Resources defines maiden coal Resource at Botswana uranium project ]]> https://www.proactiveinvestors.com.au/companies/news/147735/a-cap-resources-defines-maiden-coal-resource-at-botswana-uranium-project-43696.html A-CAP Resources (ASX: ACB) has defined a JORC Resource of 107 million tonnes of coal from recent drilling at its flagship Letlhakane Uranium Project in Botswana.

The coal occurs in seams from surface to a depth of 84 metres and is suitable for domestic power station feed with beneficiation.

It also follows the discovery and delineation of major coal resources at the company’s Mea and Bolau projects, which are currently being evaluated for commercial development.

A-Cap said the resource had the potential to add significant value to Letlhakane, with synergies between mining the coal and uranium ore concurrently under investigation.

Further evaluation work on the resource, its quality and development options underway.

The Letlhakane coal Resource was estimated by Geological and Mining Services Australia, which used geological, coal quality and geophysical data obtained from previous exploration programs as well as the results of recent drilling carried out by the company.

A-Cap also cleaned-out, deepened and geophysically log a selected number of existing drillholes and drill five additional non-cored drill holes to assist in identifying the stratigraphy.

Another two open holes were drilled to confirm correlations between previously widely spaced points of observation and two cored holes for coal quality sampling.

The company is also continuing evaluation of its coal discoveries at Mea and Bolau.

Drilling at Mea had identified some of the highest quality coal discovered in the Botswana with the current Resource standing at 335Mt of coal, of which at least 95Mt is near surface, export quality coal after washing.

Recent test work has indicated that a low ash, high energy PCI coal product can be produced when selected seams are washed at low densities

Upside is also present as just a fraction of the tenure has been drilled to date.

The coal at Bolau is next to and covering the up and down dip extension of the 2.5 billion tonne Sese Coal Project owned by African Energy.

The coal is interpreted to be sub bitumous thermal coal with potential for both local markets and export abroad. Potential at Bolau exists for a resource of similar size to the Sese Coal Project, and work is continuing on further evaluating this asset.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 24 May 2013 13:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/147735/a-cap-resources-defines-maiden-coal-resource-at-botswana-uranium-project-43696.html
<![CDATA[News - A-Cap Resources completes $3.25M cap raise; Africa uranium, coal projects funded ]]> https://www.proactiveinvestors.com.au/companies/news/147734/a-cap-resources-completes-325m-cap-raise-africa-uranium-coal-projects-funded-41649.html A-CAP Resources (ASX:ACB) has completed the share placement to raise $3.25 million, which was underpinned by its major shareholder Ansheng/China Growth Minerals increasing its stake to 19.99%.

China Growth invested $2.125 million into the placement and a share purchase plan is now open to eligible shareholders.

The fund raising will be used for the ongoing feasibility and development programme at the A-Cap's Letlhakane Uranium Project in Botswana, and to further evaluate its coal project.

A priority over the next quarter will be value adding work to further define high grade uranium mineralization at Letlhakane and metallurgical test work aimed at lowering operating costs per pound.

A-Cap’s Letlhakane Uranium Project, which is one of the world’s largest undeveloped deposits, contains a global resource of 352 million pounds of uranium with strong leverage to a rising uranium price.

Within this, a resource of 90 million pounds of higher grade uranium, 284 parts per million, has been identified and forms the basis of a scoping study completed in February.

Also, A-Cap is also continuing the evaluation of its new coal discoveries at Mea, Bolau and Letlhakane projects as priority. It is hoping to define those coal seams with the highest quality coal that can be made available for early production.

This will include exploration, assay and test work as well as accessing near term development options for these discoveries.

A drilling programme on the Mea Coal Discovery has recently been completed and identified some of the highest quality coal discovered in the Botswana region.

Only a fraction of the tenure has been drilled to date, and the capital raising funding will allow for further development of the current 335 million tonnes of coal, of which at least 95 million tonnes is near surface, export quality coal.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 05 Apr 2013 14:10:00 +1100 https://www.proactiveinvestors.com.au/companies/news/147734/a-cap-resources-completes-325m-cap-raise-africa-uranium-coal-projects-funded-41649.html
<![CDATA[News - A-Cap Resources’ Scoping Study delivers favourable economics for Botswana uranium ]]> https://www.proactiveinvestors.com.au/companies/news/147733/a-cap-resources-scoping-study-delivers-favourable-economics-for-botswana-uranium--39930.html A-CAP Resources (ASX: ACB) has provided positive interim economics in a recent Scoping Study being carried out at its Letlhakane Uranium Project in Botswana that shows the potential for a long mine life of 20 years.

The study is based on shallow open pit mining and heap leach processing to produce 3 million pounds of uranium per annum.

The Letlhakane Project contains one of the largest undeveloped uranium deposits globally, is located in one of the most favourable mining investment jurisdictions in the world and can provide a long term stable supply of uranium for the growing nuclear industry.

The timing of the project is favourable with uranium prices expected to rise considerably in parallel with planned production in 2016.

Operating costs have been estimated at US$42 per pound U3O8 in the first five years and US$48 per pound in the first 10 years.

Capital costs for plant and infrastructure have been estimated at US$309 million.

The Letlhakane Project contains a large global Resource of 352 million pounds of uranium, and within this 90 million pounds of higher grade resource at 284 parts per million (ppm) has been identified and forms the basis of the Scoping Study.

The Scoping Study has indicated an optimised in pit resource of 57 million pounds of uranium at 197ppm U3O8.

There are also additional unscheduled in pit resources of 13 million pounds at 196ppm U3O8 at Gorgon West, which has not yet been included in the mining schedule.

This work is currently underway and is expected to extend the mine life by a further five years.

Average recoveries of 71.5% have been demonstrated from heap leach processing.

Additional studies are underway to further reduce capital and operating costs including improvement in recoveries and grade.

Detailed scheduling of mine production will also be conducted to optimise higher grade mineralisation and reduce strip ratios.

The scheduling of mine production from Gorgon West will be completed and this blended into the production from other areas to ensure that the lowest cost ore is mined early in the project life.

It is expected that this work will result in lower average cost per pound.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 22 Feb 2013 15:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/147733/a-cap-resources-scoping-study-delivers-favourable-economics-for-botswana-uranium--39930.html
<![CDATA[News - A-Cap Resources defines 335 million tonne coal resource in Botswana ]]> https://www.proactiveinvestors.com.au/companies/news/147732/a-cap-resources-defines-335-million-tonne-coal-resource-in-botswana-39816.html A-CAP Resources (ASX: ACB) has defined a JORC resource of 335 million tonnes of coal in multiple seams for its Mea project in Northern Botswana.

The coal ranges from high quality domestic thermal coal, export quality coal to possibly material suitable for low ash Pulverised Coal Injection.

Initial drilling by A-Cap has discovered coal in seams of comparable thickness and quality of the Sese coal deposit.

The company continues to evaluate the quality portion of this coal and the development options available for this exciting discovery.

It is also continuing further coal evaluation programs at the recently announced Bolau Project surrounding African Energy as well as the coal on the Letlhakane Uranium Project.

Mea is located about 120 kilometres west of rancistown along the sealed highway to the Orapa Diamond Mine.

The deposit is located within the southern half of PL134/2005 and is hosted in Lower Ecca Group sediments of the Karoo Supergroup.

A total of 44 drill holes over a 10 kilometre by 12 kilometre area have so far intersected the sequence, which is open in all directions.

However, the density of drilling is insufficient to calculate a global resource and initial resource definition efforts have focussed on the north east of the deposit area where coal seams are closest to the surface.

During October and November 2012, 19 PCD holes and 6 diamond core holes were completed over a 17 square kilometre area in the north east in an effort to establish an initial Inferred resource for Mea.

The resource drilling covers about 10% of the licence area and there is potential for additional shallow coal to the north.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 20 Feb 2013 17:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/147732/a-cap-resources-defines-335-million-tonne-coal-resource-in-botswana-39816.html
<![CDATA[News - A-Cap Resources gets coal rights at its Bolau tenements in Botswana ]]> https://www.proactiveinvestors.com.au/companies/news/147731/a-cap-resources-gets-coal-rights-at-its-bolau-tenements-in-botswana-38720.html A-CAP Resources (ASX:ACB) has secured coal rights within its Bolau tenements in Botswana, which could potentially make it a formidable coal player in the country.

The coal licences at Bolau follows the approval by the Botswana government of the renewal of the Bolau discovery licences PL138/2005 and PL125/2009 and the amendments of those tenements to include coal rights as well as uranium already held by the company.

The thermal coal horizons within A-Cap's Bolau tenements are interpreted to be the up and down dip extension of the adjacent Sese Coal project owned by African Energy Resources, which contains over 2.5 billion tonnes of thermal coal.

Initial drilling by A-Cap has discovered coal in seams of comparable thickness and quality of the Sese coal deposit.

Coal was discovered at Bolau through A-Cap's ongoing uranium exploration program and to date six reverse circulation holes and seven diamond drill holes have intersected coal horizons.

In addition to the ongoing exploration of these tenements, A-Cap is currently assessing the potential economic synergies of mining and processing its coal and uranium concurrently.

With the granting of the coal rights, A-Cap now has another major coal project next to its Letlhakane uranium project. This together with the Mea coal discovery, made to the north east of Letlhakane makes A-Cap a major player in the coal business in Botswana.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 25 Jan 2013 11:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/147731/a-cap-resources-gets-coal-rights-at-its-bolau-tenements-in-botswana-38720.html
<![CDATA[News - A-Cap Resources close to defining Mea coal resource ]]> https://www.proactiveinvestors.com.au/companies/news/147730/a-cap-resources-close-to-defining-mea-coal-resource-35296.html A-CAP Resources (ASX: ACB) expects to define a maiden resource for its Mea coal project in Botswana this month as it completes a 35 hole drilling program.

The bore holes are being completed in addition to the initial 16 discovery holes.

These holes cover a total area of 78 square kilometres and is designed to generated an Inferred and Indicated Resource at Mea while providing samples for detailed analysis of coal quality.

Multiple, correlatable coal seams continue to be intersected within a substantial carbonaceous sequence that often extends to over 100 metres in thickness while coal analysis from initial drilling shows good quality coal piles in several seams.

Mea has an exploration target between 500 million and 1 billion tonnes of thermal coal.

A-Cap has also identified the presence of significant coal measures within its Letlhakane uranium project and is working to evaluate the size and quality of this and potential economic synergies with the mining and processing of uranium.

Work to date includes 2,400 metres of drilling to clean out and extend existing drill holes for geophysical logging. Geophysical logging including density, resistivity and gamma has been conducted to provide data for a three dimensional model of the coal measures

Further drilling to collect samples for quality test work to progress the understanding of the coal resource potential of this area, is continuing.

The company has also completed six reverse circulation and seven diamond holes at the Bolau project.

Coal thickness averages at about 20 metres and occurs in two seams with the upper seam at around 4 metres and a lower seam of 16 metres.

In the discovery areas, the stratigraphic package dips shallowly towards the south west at around 10 degrees.

While no analytical results for the coals have been received, the logged geology and the continuity of the coal horizons in the Sese Project has led to the interpretation that the resource is sub-bituminous thermal coal with potential to produce both domestic and export quality coal.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Thu, 01 Nov 2012 17:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/147730/a-cap-resources-close-to-defining-mea-coal-resource-35296.html
<![CDATA[News - A-Cap Resources discovers two coal prospects in Botswana ]]> https://www.proactiveinvestors.com.au/companies/news/147729/a-cap-resources-discovers-two-coal-prospects-in-botswana-31447.html A-CAP Resources (ASX: ACB) has discovered two new coal projects in Botswana, one of which might be an extension pf African Energy Resources’ (ASX: AFR) Sese Coal and Power Project, while continuing its ongoing uranium exploration program.

The discoveries open up a new direction for A-Cap, with the company saying they offered risk diversification, and that it will continue coal exploration alongside the ongoing feasibility work at its Letlhakane Uranium Project.

The first discovery was made at the Mea Prospect after 16 stratigraphic core holes intersected thick carbonaceous Tlapana Formation containing multiple interbedded coal seams.

Initial proximate analysis of selected seams in PL 134/2005 has returned raw coal qualities that compare favourably to known higher quality coal deposits in Botswana and abroad

A-Cap said the entire section may be taken as “bar-code” type coal and contains multiple solid seams of bright lustrous coal that are between 1-10 metres in thickness within a thicker carbonaceous unit.

Individual samples have returned calorific values of over 30 megajules per kilogram with preliminary washability results indicating that encouraging yields of potential export quality products are achievable.

Meanwhile, the second discovery Bolau was made on two separate prospective licences and is interpreted to be an extension of the Sese desposit.

Seven of the 11 core holes on PL125/2009 and six of the 20 reverse circulation holes on PL138/2005 intersected the interpreted down-dip extension of Sese.

Coal thickness averages at 20 metres in two seams with the stratigraphic package dipping shallowly towards the southwest.

While no analytical results for the coals have been received, logged geology and the continuity of the coal horizons in the Sese Project has led A-Cap to interpret the coal as being sub-bituminous thermal coal with potential to produce doth domestic and export quality products.

African Energy Resources

African Energy Resources has a JORC Indicated and Inferred Resource of 2.6 billion tonnes of coal at Sese and has signed a memorandum of understanding with a potential offtaker for the electrical output of its proposed 300 megawatt coal‐fired power station.

Sese is amendable to open cut strip mining, which may apply to A-Cap’s Balou find, offering low risk and low costs.

African Energy is currently focused on a Bankable Feasibility study that is evaluating a mining operation of up to 5 million tonnes per annum of coal, with the option for an associated mine‐mouth power station of up to 600 megawatts.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Wed, 18 Jul 2012 15:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/147729/a-cap-resources-discovers-two-coal-prospects-in-botswana-31447.html
<![CDATA[News - A-Cap Resources: 35% uranium JORC Resource increase strengthens Letlhakane project ]]> https://www.proactiveinvestors.com.au/companies/news/147728/a-cap-resources-35-uranium-jorc-resource-increase-strengthens-letlhakane-project-29770.html A-CAP Resources (ASX: ACB) has successfully upgraded the global JORC Resource at the company’s Letlhakane Uranium Project in Botswana by 35%, with the project now ranked as one of the world’s largest undeveloped uranium deposits.

The company is now focused on completing a Bankable Feasibility Study and bringing Letlhakane into early production.

Letlhakane now hosts a global resource of 1.04 billion tonnes at 153 parts per million (ppm) uranium for 351.8 million pounds of uranium contained, based on a 100ppm uranium cut-off grade.

Within this resource, A-Cap has defined a higher grade resource of 143.2 million tonnes at 284ppm uranium for 89.7 million pounds of uranium contained.

Importantly, when taking into account a 200ppm uranium cut-off grade, the global resource is 143.2 million tonnes at 284ppm uranium for 89.7 million pounds uranium, a strategic resource in the current market.

There is potential for further resource growth at Letlhakane, with the resource area remaining open along the western boundary.

In addition to its size, Letlhakane has location on its side, with road, rail, power and water all readily available in the area, coupled with the stability of Botswana as a mining jurisdiction.



Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Wed, 06 Jun 2012 13:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/147728/a-cap-resources-35-uranium-jorc-resource-increase-strengthens-letlhakane-project-29770.html
<![CDATA[News - A-Cap Resources unveils new uranium zones at Letlhakane Project in Botswana ]]> https://www.proactiveinvestors.com.au/companies/news/147726/a-cap-resources-unveils-new-uranium-zones-at-letlhakane-project-in-botswana-22470.html Perth-based A-CAP Resources (ASX: ACB) has discovered two new zones of uranium mineralisation from ongoing exploration drilling at its Letlhakane Uranium Project in northeast Botswana.

A newly identified zone extends the Letlhakane uranium mineralisation by 2 kilometres to the west of current JORC Resource of 261 million pounds of uranium. Mineralisation remains open to the south and west.

Highlights include:

- 6.2 metres at 1129 parts per million (ppm) equivalent uranium (eqU3O8)
- 3.05 metres at 755ppm eqU3O8; and
- 3.95 metres at 669ppm eqU3O8.

New uranium mineralisation has also been discovered 7 kilometres to the north and provides further evidence of potential to grow the resource and underpins the project’s position as one of the world’s largest undeveloped uranium deposits.

Highlights of this drilling include:

- 2.75 metres at 344ppm eqU3O8;
- 2.55 metres at 285ppm eqU3O8; and
- 3.75 metres at 204ppm eqU3O8.

Andrew Tunks, managing director, said “the occurrence of significant uranium mineralisation at our Prospecting Licences adjacent to the existing Resource, further demonstrates the potential of Botswana as a world-class uranium exploration destination and re-enforces A-Cap’s ongoing commitment to uranium exploration in Botswana.”

A-Cap Resources has over 5000 square kilometres of exploration licences in the investment friendly country of Botswana.

The company is currently completing a Bankable Feasibility Study on the project and the metallurgical testwork forms a crucial aspect of that study.

A-Cap is also focusing strongly on targets for uranium in the Southern Pans Project, located to the north west of Letlhakane.

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Wed, 23 Nov 2011 15:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/147726/a-cap-resources-unveils-new-uranium-zones-at-letlhakane-project-in-botswana-22470.html
<![CDATA[News - A-Cap Resources has one of largest undeveloped uranium deposits in the world at Letlhakane ]]> https://www.proactiveinvestors.com.au/companies/news/147725/a-cap-resources-has-one-of-largest-undeveloped-uranium-deposits-in-the-world-at-letlhakane-15917.html Perth-based A-CAP Resources (ASX: ACB) has boosted the company’s resource to 261 million pounds (Mlbs) uranium from 158Mlbs uranium at the Letlhakane Uranium Project in Botswana, southern Africa.

The upgrade elevates the project to one of the largest undeveloped uranium deposits in the world.

The updated Global Mineral Resource completed by independent expert and Fellow at AusIMM, Ian Glacken, eastablishes the JORC Resource at 780 million tonnes at 152 parts per million (ppm) uranium for a contained 261Mlbs of uranium.

The volume of material now classified under an Indicated JORC Resource stands at 221 million tonnes uranium at 153ppm for 74.7Mlbs uranium, which represents a 49% increase.

The company will commit "considerable efforts" to concluding A-Cap’s Bankable Feasibility Study in early 2012 and focus on bringing the project into early production after the resource upgrade.

Andrew Tunks, managing director, said “The recent tragic events in Fukishima, Japan have dented the faith of some in the investment community in regards to nuclear technology.”

“However with recent statements coming out of Korea, China and India recommitting to nuclear power, we believe that the industry will soon rebound with global demand for uranium far outstripping mine supply.”

Uranium mineralisation remains open along the western boundary of the resource area indicating that additional resource growth is highly likely with further exploration.

The company will use the updated resource to produce estimates of the mine plan including operating and capital costs for the project.

The project is located in northeast Botswana and lies 90 kilometres south of Francistown. Letlhakane sits in direct line with the country’s main infrastructure corridor comprising the A1 highway, the main railway line and the north-south power lines.

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Tue, 03 May 2011 16:25:00 +1000 https://www.proactiveinvestors.com.au/companies/news/147725/a-cap-resources-has-one-of-largest-undeveloped-uranium-deposits-in-the-world-at-letlhakane-15917.html
<![CDATA[News - A-Cap Resources finds uranium rock chips with grades above 500ppm at Southern Pans ]]> https://www.proactiveinvestors.com.au/companies/news/147723/a-cap-resources-finds-uranium-rock-chips-with-grades-above-500ppm-at-southern-pans-12359.html In very early stage exploration uranium has been identified in rock chips at the A-CAP Resources (ASX: ACB) Southern Pans Project in Botswana.

Of the 50 preliminary samples, the company said 14 have values over 100ppm and 27 over 50ppm.

Best results include; 575ppm, 499ppm and 444ppm.

This new discovery zone is in addition to the company's Letlhakane Uranium Project, which has a; 463 million tonne at 154ppm for 157 million pounds of uranium, established global mineral resource.

A-Cap is well funded after a recent $9.5 million placement to continue its exploration and development plans.

A SPP is also offered at the same price as the placement.

 

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Tue, 07 Dec 2010 12:39:00 +1100 https://www.proactiveinvestors.com.au/companies/news/147723/a-cap-resources-finds-uranium-rock-chips-with-grades-above-500ppm-at-southern-pans-12359.html
<![CDATA[News - A-Cap Resources expands drilling at Letlhakane uranium project in Botswana ]]> https://www.proactiveinvestors.com.au/companies/news/147722/a-cap-resources-expands-drilling-at-letlhakane-uranium-project-in-botswana-2675.html Uranium developer A-CAP Resources (ASX: ACB) has reported that drilling and sampling for metallurgical testwork will be used in the Bankable Feasibility Study at Letlhakane uranium project in Botswana is complete.

Investors may recall that A-Cap raised $10 million in May to complete of a BFS and for further exploration to increase the uranium resource base.

Current inferred resources at Letlhakane is 280 Million tonnes at a grade of 158ppm U3O8 for 98 million pounds of U3O8 (44,500 tonnes) a cut off grade of 100ppm.

Andrew Tunks managing director of A-Cap said the company encountered significant thicknesses and grades of uranium mineralisation were encountered at Gorgon and Kraken targets during resource infill drilling.

The company is drilling for extensions outside the resource area at five exploration targets to explore for new areas of mineralisation.

The final round of metallurgical drilling and sampling for the BFS is now complete, 6 diamond holes to collect sufficient material for the variability testwork on the primary ore remain to be completed.

Sampling from the large scale trenching has also been completed and samples will be sent to SGS laboratories in Perth by the end of September.

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Mon, 28 Sep 2009 07:31:00 +1000 https://www.proactiveinvestors.com.au/companies/news/147722/a-cap-resources-expands-drilling-at-letlhakane-uranium-project-in-botswana-2675.html
<![CDATA[News - A-Cap Resources commences Bankable Feasibility Study at Lethakane uranium project in Botswana ]]> https://www.proactiveinvestors.com.au/companies/news/147720/a-cap-resources-commences-bankable-feasibility-study-at-lethakane-uranium-project-in-botswana-2020.html A Bankable Feasibility Study (BFS) has commenced at A-CAP Resources' (ASX: ACB) keenly watched Letlhakane uranium project in Botswana. 

Aiming to have the first uranium mine in Botswana would be quite a coup for A-Cap.  Botswana is home to Tier 1 diamond mines as well as copper nickel deposits in the Selebi-Phikwe area.

Under Botswana Law, the application for a Mining Licence cannot begin until a BFS including Environmental Management Plan and Closure Plan is submitted to the relevant Botswana Ministries.

Hence the BFS is an integral step in A-Cap’s goal for the Letlhakane to become an operating uranium mine in 2011.

$6.5M has been committed by A-Cap for the Bankable Feasibility Study.  Expected to run for one year, this includes significant resource drilling and metallurgy study work.

A resource update at Letlhakane is also expected in the fourth quarter of 2009.  Current interim inferred JORC Resource is 30 million lbs U3O8 (80ppm cut-off). Exploration Target size of 100 million lbs of U3O8.

A scoping study completed in 2008 by SRK showed that a project designed to exploit the oxide and calcrete portions of the global resource could be economically viable with a projected cash cost of $US34/lb U3O8.

Another $2M has been committed for exploration expenditure to look for new resources outside the main project area. Initial drilling targets will be at Serule and Gorgon South, where A-Cap has previously drilled economic uranium mineralisation intersections.

Spicing up the A-Cap canvas, resource investor, Polo Resources snapped up a 19.9% stake in A-Cap via a placement in May.

The market has recognised the promising upside at Letlhakane.  The share price has been on a tear since March 2009, increasing by a factor of five to June to 55 cents - before drifting recently to 38 cents.

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Mon, 20 Jul 2009 08:23:00 +1000 https://www.proactiveinvestors.com.au/companies/news/147720/a-cap-resources-commences-bankable-feasibility-study-at-lethakane-uranium-project-in-botswana-2020.html
<![CDATA[News - More drilling success for A-Cap Resources at Letlhakane Uranium Project in Botswana ]]> https://www.proactiveinvestors.com.au/companies/news/147718/more-drilling-success-for-a-cap-resources-at-letlhakane-uranium-project-in-botswana-1668.html Ongoing drilling at the Gorgon North Prospect at Letlhakane Uranium Project in Botswana has returned some significant uranium intercepts for A-CAP Resources (ASX: ACB).  Drilling was undertaken as part of a planned resource upgrade which will occur in the 2nd half of 2009.

The Letlhakane Uranium Project has a JORC Inferred Resource of 98 Million lb Uranium oxide at an average grade 158 ppm at a cut-off grade of 100 ppm. Projected cash costs are $33 per pound with planned production of 2 million pounds per annum.

A-Cap is working on a revised exploration plan and budget that reflects the Company’s improved cash position after the Capital Raise announced to the ASX on May 6th 2009. Funds raised will be used to complete the feasibility study of the Letlhakane Uranium Project due to commence in the third quarter of 2009.

Significant intercepts from recent drilling at Gorgon from 134 Reverse Circulation (RC) holes:

- Hole MOKR1503 Depth 21 metres at 3.6m (thickness) @ 268ppm (Grade eU308)
- MOKR1516 22 3.9m @539
- MOKR1538 18 9.2m @200
- MOKR1539 22 2.3m @314
- MOKR1547 10 8.4m @302
- MOKR1549 20 6.8m @344
- MOKR1550 32 5.6m @208
- MOKR1551 36 5.9m @240
- MOKR1565 36 3.6m @461
- MOKR1569 43 4.7m @219
- MOKR1570 34 5.7m @223
- MOKR1572 25 5.8m @353
- MOKR1575 14 5.1m @434
- MOKR1586 12 4.9m @612
- MOKR1586 22 2.5m @511
- MOKR1592 14 3.4m @266
- MOKR1598 23 5.8m @493
- MOKR1611 14 7.5m @271
- MOKR1612 17 4.8m @288
- MOKR1618 42 5.1m @525
- MOKR1621 27 16.8m @230
- MOKR1621 49 4.7m @253
- MOKR1626 20 5.1m @235
- MOKR1628 32 3.5m @1343

Two new Prospecting Licences (PL) have been granted to A-Cap by the Department of Geological Survey Botswana (DGS); PL122_2009 is immediately east of the existing Mea and Sua PLs, and PL 125_2009 is to the north of the Letlhakane Project.  Both licences cover a portion of the Karoo Supergroup –Proterozoic Basement unconformity, which is considered by A-Cap to be especially prospective for uranium mineralisation.

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Tue, 09 Jun 2009 07:33:00 +1000 https://www.proactiveinvestors.com.au/companies/news/147718/more-drilling-success-for-a-cap-resources-at-letlhakane-uranium-project-in-botswana-1668.html
<![CDATA[News - A-Cap Resources' Letlhakane Uranium Project in Botswana hots up with $10 million raising ]]> https://www.proactiveinvestors.com.au/companies/news/147716/a-cap-resources-letlhakane-uranium-project-in-botswana-hots-up-with-10-million-raising-1415.html A-CAP Resources Ltd (ASX:ACB) has announced the placement of 50 million new Fully Paid Ordinary Shares at an issue price of 20 cents ($0.20) per share raising $10 million.

Polo Resources Limited has become a cornerstone investor through their 19.9% equity interest in the

placement. Polo will become the largest shareholder in the company. Polo Resources is an AIM-listed mining and investment company (AIM code: PRL), specialising in investing in global uranium and coal companies.  Polo Resources also has an equity interest in two other ASX listed uranium companies, Berkeley Resources (ASX:BKY) and Extract Resources (ASX:EXS).

The placement will be completed in two stages. A-Cap will issue 16 million new shares raising $3.2
million pursuant to ASX Listing Rule 7.1. The balance of the placement will be subject to shareholder approval at a general meeting to be held on or about 17th June 2009.

The funds raised will be applied to advance the Company’s Letlhakane Uranium Project in Botswana, including the completion of a Feasibility Study and further exploration with the objective of increasing the Company’s resource base. The current Inferred Resources of the Letlhakane Uranium Project comprises 280 Million tonnes at a grade of 158ppm U3O8 for 98 million pounds of U3O8 (44,500 tonnes) a cut off grade of 100ppm.

Under the terms of the placement Polo Resources will be invited to nominate one Board member to the ACap Board.

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Mon, 11 May 2009 06:04:00 +1000 https://www.proactiveinvestors.com.au/companies/news/147716/a-cap-resources-letlhakane-uranium-project-in-botswana-hots-up-with-10-million-raising-1415.html
<![CDATA[News - Polo Resources to take 19.9 pct stake in A-Cap Resources ]]> https://www.proactiveinvestors.com.au/companies/news/147714/polo-resources-to-take-199-pct-stake-in-a-cap-resources-1396.html Polo Resources Ltd (AIM: PRL) said it has signed a subscription agreement with A-CAP Resources Ltd (ASX: ACB)  under which it will acquire up to 31,888,770 new ordinary shares representing 19.9 percent of the enlarged share capital of A-Cap for an investment of A$6,377,754.

A-Cap is in the process of placing 50 million new shares at an issue price of 20 Australian cents, raising A$10 million. 

In a statement, the mining and investment company with interests in coal and uranium, said A-Cap intends to use the new funds to advance the Letlhakane uranium project in Botswana,  including the completion of a feasibility study and further exploration with the objective of increasing the resource base of the project. 

A-Cap has previously announced an inferred resource for Letlhakane comprising 280 million tonnes at a grade of 158 parts per million triuranium octoxide for 98 million pounds of U3O8, a cut-off grade of 100ppm.
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Wed, 06 May 2009 20:07:00 +1000 https://www.proactiveinvestors.com.au/companies/news/147714/polo-resources-to-take-199-pct-stake-in-a-cap-resources-1396.html
<![CDATA[News - A-Cap metallurgical results confirm high recoveries at Letlhakane Uranium project in Botswana ]]> https://www.proactiveinvestors.com.au/companies/news/147712/a-cap-metallurgical-results-confirm-high-recoveries-at-letlhakane-uranium-project-in-botswana-1028.html A-Cap recently received metallurgical results from Mintek Laboratories confirming that the two main ore types leach well in columns supporting the recovery numbers used in the SRK Scoping Study. The updated recoveries of over 90% in the calcrete and over 78% for the oxidized mudstone provide further confidence when assessing the possibility of a heap leach operation.

Additional Resource drilling will recommence in late March at the Gorgon prospect.

Metallurgical results

As part of the metallurgical testwork, an initial trial of 1m column leaches has been completed to test for leaching and physical properties of the ores under conditions that simulate those of a heap leach operation. Important data for the continuing progression of the project are the permeability and stability of the columns and the resulting uranium recoveries over the leaching cycle.

Testwork was carried out under a variety of conditions and using several different methods to agglomerate the samples in order to improve column stability. Uranium recovery from the nonagglomerated calcrete has come back in excess of 90% while the oxidised mudstones have returned recoveries between 78% and 80%. These figures support earlier testwork conducted in bottle roll tests.

The non-agglomerated calcrete ores showed excellent stability under the column leach conditions and there was less than 10% slumping during this test. The column tests on the mudstone without agglomeration indicated approximately 20% slumping which is excessive, indicating that some sort of agglomeration will be required.

Recoveries from both the calcrete and oxidised mudstone where cement was used as an agglomeration agent were slightly lower being above 75% for the calcrete and between 65% and 75% for the oxidised mudstones. These lower recoveries are interpreted to be the effect of the cement altering the pHbalance of the columns. Further testwork on larger scale columns and testing different binding agents will be undertaken during the feasibility study. The agglomerated mudstone columns were however stable with only 5% slumping indicated.

The updating of several inputs into the scoping study has resulted in SRK revising the estimated cash
cost to USD 33 per lb U3O8.

Commencement of resource drilling at Gorgon

A-Cap has committed to a 5,000m reverse circulation (RC) percussion program which will commence late in March. Results of this drilling will be released as they become available.

The planned drilling will close up drill spacing on the Gorgon Prospect with the objective of a potential
upgrade of the resource from an Inferred Resource to an Indicated Resource which is required if the company is to progress towards a Bankable Feasibility Study.

Environmental progress

The Environmental Impact Assessment (EIA) of the Letlhakane Uranium Project commenced in late January 2009. The EIA studies are designed to run for twelve months to collect important environmental data from the three climatic seasons in Botswana. To date the specialist studies for AquaticWildlife and Radiation Background have commenced data collection.

Public participation and information meetings have been held at the local villages of Gojwane and Serule. A further meeting for local government officials has been held at the Tonota District Land Board. These compulsory meetings are a crucial stepping stone in the EIA process where local communities have the right to learn about the planned development. No objections from the local communities were registered during the process.

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Mon, 16 Mar 2009 08:10:00 +1100 https://www.proactiveinvestors.com.au/companies/news/147712/a-cap-metallurgical-results-confirm-high-recoveries-at-letlhakane-uranium-project-in-botswana-1028.html
<![CDATA[News - A-Cap Resource’s Botswana uranium project supported by robust economics ]]> https://www.proactiveinvestors.com.au/companies/news/147710/a-cap-resources-botswana-uranium-project-supported-by-robust-economics-0317.html A-CAP Resources (ASX:ACB) the emerging uranium producer in Botswana announced the results of a completed scoping study at its Letlhakane uranium project in Botswana.  The company said the study supported further funding and development of the project and a Feasibility Study  likely be undertaken in 2009 with a view to producing uranium (U3O8) by mid to late 2010.


The scoping study was conducted by SRK Consulting, “supports robust project economics” with the preferred project option targeting an annual production rate of 2.2 million pounds uranium.

For the purpose of the report, A-Cap has elected to focus on the option which completed a Whittle Pit Optimisation using a long term price of USD 55/lb of U3O8 and a production rate of 20ktpd.


The favoured project option, one of four in the scoping study, was based on a long-term price of $US55 ($A76.64) a pound and concluded total cash costs of $US29 ($A42) per pound.  Capital expenditure was put at $US169 million ($A246 million) with an additional $US10 million in sustaining capital.


In the recent quarterly report for A-Cap Resources, the company had over $A8 million of cash in the bank, with nil debt.  Current resource drilling represents less than 20 per cent of the total targeted mineralization.  The company indicated it has a, “massive uranium resource with great scope to grow”.


The scoping study indicated Letlhakane has an inferred resource of 280 million tonnes grading 160 parts per million for 98 million pounds of uranium. The scoping study put recovery rates at 78-90%.
A-Cap Resources last sale was 20c.




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Tue, 21 Oct 2008 00:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/147710/a-cap-resources-botswana-uranium-project-supported-by-robust-economics-0317.html