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.
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