MetalNRG Plc (GB:MNRG) has released an update.
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MetalNRG PLC, a natural resources and energy investment company, has announced the Kyrgyzstan Parliament’s approval of a bill to lift the ban on uranium and thorium mining, opening up prospects for the company’s significant interest in the Kamushanovskoye Uranium Deposit. With uranium prices having increased fourfold since the original mining license was granted, MetalNRG is reviewing the project’s potential, previously estimated to have a net present value of approximately US$250 million. The company is considering how to best advance the project, which promises low initial capital and operating costs due to planned in-situ recovery methods.
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