Merged with Anatolia Energy (ASX AEK), Uranium Resources Inc (ASX URI) is focused on advancing to near-term production the Temrezli in-situ recovery project in Central Turkey and also controls extensive exploration properties under nine exploration and operating licenses.
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Anatolia Energy is an ASX‐listed exploration company holding an extensive portfolio of uranium licences and advanced exploration and development projects in the Republic of Turkey.
In February 2015, Anatolia Energy Limited(“Anatolia”, ASX:AEK) completed a pre‐feasibility study on the Temrezli Uranium Project in Turkey which shows sufficient economic and technical viability to move to the next stage of development.
In early June 2015, Anatolia and Uranium Resources, Inc. (“URI”), a NASDAQ listed company, announced a planned merger. URI has been operating in the US uranium industry since the late 1970s and has twouranium operating licenses and two idled processing facilities in Texas, as well as extensive uranium landholdings and exploration databases in Texas and New Mexico. The recently announced merger between Anatolia and Uranium Resources Inc. provides enormous benefits to Anatolia shareholders. The relocation of the Rosita plant from URI’s South Texas Operations is likely to save up to US$11m in upfront capital costs. While this may not appear to be large in absolute project capital costs, it represents more than 25% of pre‐production capital costs. Some modifications will need to be made to the existing plant, but URI’s Vice President South Texas Operations, who designed and oversaw construction of the Rosita plant, will be responsible for deconstruction, relocation and reconstruction of the plant at Temrezli in Turkey.
Following on from the latter, Anatolia shareholders will benefit enormously from URI’s technical operational experience in uranium. URI has historically produced 8 Mlbs of uranium in Texas. In addition to VP Dain McCoig (who joined URI in 2004), three plant superintendents each have experience ranging from 7‐9 years, the manager of reservoir engineering has been with URI since 1987, the Logging Supervisor since 1990 with other personnel in reservoir engineering, radiation safety and HSE having 7‐9 years with URI.
The ability of Anatolia to be able to draw on this wealth of experience, especially during development, commissioning and early production is invaluable...
Official website: http://www.uraniumresources.com/
ASX on Hotcooper: http://hotcopper.com.au/asx/AEK