Phil Hoskins

our over overall expiration target was between 40 and 100 million pounds in addition to our resource. So that puts the size of the prize somewhere between 100 and 150 million pounds according to our geologists.

there's so much opportunity there given 1100 km of of tenure.

I think it's a 600 by 300 m high higher grade zone that's been defined uh there and you know rough rule of thumb if you look at the size of those things could be another five five odd million pounds

there's several anomalies between 3 and 5 km long.

exploration target uh that we released in December was 40 to100 million

quite a prospective region and basin for uranium resources with over 500 million pounds within these known basins historically.

we've probably only touched 25, 30% of of that whole region.

we've already got 29 million there.

24% increase in the resource from 47 million to 58.

first drilling of the year was at Chisabuka where last year we had defined a 9.7 million pound resource uh and that's only over an 800 by 600 m meter zone.

It's 116 million pounds at 1300 ppm

the resource is 58.8 million at 309 ppm

low asset consumption um heap leach operation with low strip um is very much like what uh what Bannerman is

The measured and indicated component of that is 4 million at 359 ppm

a 12-year heap leach operation at 2.2 million pounds per annum

the sort of drilling we're doing is about US 40 dollars all in.

the 3.5 million ton per annum plant, uh which was producing roughly 2.2 million pounds per annum

an extremely low acid consumption of 20 kilograms per ton of ore treated.

What it has taught us is where we need to optimize the project to make it economic at today's uranium price.

the economics at $90 a pound didn't quite stack up

at $90 a pound um it was roughly NPV equals capex

when we look at uh at an 8 million ton per annum plant at a cost of 350 million dollars

Banaman's capex is 20% higher for a plant throughput that's more than twice as high uh twice as large.

what we have in our back pocket sort of properly reimagined as I said um could do 3.9 million pounds per annum at 12 year for 12 years

our budget has us closing the year with with $9 million in the bank even with 50,000 mters of drilling

Your treasury still around 19 million Australian dollars? Yeah, it was 19 end of December.

Um I think it might be just shy of 18 end of March.

with 19 million in the bank uh end of December.

To do that with 700,000 dollars of drilling.

I'd say by the end of this calendar year we'll have uh just short of half of that

We uh loaned $700,000 to GobX uh to drill what we considered lowhanging fruit while the transaction was concluding

So, you were capitalized in Q4 of last year with 20 million Australian dollars

Largest program the project's seen in almost 20 years uh funded to do it.

the first 13 or 14 drill holes from the program um almost all of them have hit mineralization where we expected

we're kicking off with a 30,000 meter drill program that will be concluded by August

it'll end up being upwards of 50,000 meters that we would have drilled by the end of the year

we listed in November 2025

Then we'll flow into 2027 uh with an update to the feasibility studies

updating the mineral resource by the end of the year

towards the end of the 2026 field season once we've understood uh where the mineralization is is where we'll bring in the RC and diamond.

the number of targets and the target areas, there will be an announcement coming out in in the coming week or or two

at 12 months ago there was a NI43101 feasibility study done over the asset um 12 year mine life at 2.2 million peranom.

the drill program starting at the beginning of April will be the largest program at the project since 2007.

reactors are going to be uh dependent on new supply coming out of the ground

we do uh benefit from the fact that environmental approvals and relocation action plan were all lodged through 2025 in aid of development. So we will receive those approvals this year.

2027 will be about met test work and and updating studies.

we have a worldclass asset um in Nger that was expropriated from GOIX in 2024

our Mantunga uranium project in southern Zambia

So, you're in Zambia, the third best mining jurisdiction the Fraser Institute says in Africa.

our principal asset being the Mantunga uranium project in Zambia

the Mutanga uh uranium project in Zambia

those approvals are on track and our expectation is over the next month or so that we should have those um approvals in place.

our expectation is in the coming months around mid 2026 we should be in receipt of the environmental approvals

the ASX required an independent review from an engineer to sign off that the inputs used by Goviex were reasonable.

these uh resources sit on mining licenses um we we do uh benefit from the fact that environmental approvals and relocation action plan were all lodged through 2025

tenure in southern Zambia

company that was founded by Grant Davyy and Keith Ba, who were founders of Boss Energy and Lotus Resources

those two were the founders behind Boss Energy um and Lotus Resources which are both now uranium producers.

It first started with Boss, uh was called Boss Resources, now Boss Energy and Matador uh acquired the Kayelekera uranium mine

chief operating officer for Atomic Eagle is Warren King who was the exec that restarted KA. Um so there's a fair bit of uranium expertise in the group. Our sales and marketing consultant is Chris Lewis who uh exchamico sales and um and our geologist ch consulting geologist Harry mustard was involved at lethane uh uranium and and lotus as well.

low acid consumption around 20 kg per ton and that's a real driver of operating costs

21day average leech kinetics and an extremely low acid consumption of 20 kilograms per ton of ore treated.

the acid consumption is incredibly low, averaging around 20 kg um of acid per ton

achieving high recoveries greater than 90% with low acid consumption

Excellent recoveries plus 90% on average.

the recoveries are plus 90% um in pretty quick time

the very simple uh heap leach processing, high recoveries, low acid consumption, uh very simple um low strip open pit mining.

it is a very simple heap leach operation.

grades anywhere from sort of 220 through to sort of 350 to 400 ppm um over this entire region. Um the recoveries have been um mostly very similar um and acid consumption's pretty similar as well.

Our grades are slightly higher on average so far.

we could be producing 4 to 5 million pounds um uh via very simple heat leach operations

Atomic Eagle trades in Australia and also in the United States on the OTCQB under the ticker AUXF and in Australia under AEU.

But um furthermore across montanga north, namac 1 and namac 2. And it's really exciting