IsoEnergy Advances U.S. Uranium Mines Toward Potential Production
- All three uranium mines (Tony M, Daneros, Rim) are fully permitted, enabling quick production restart
- Secured toll milling agreement with Energy Fuels Inc. at the operational White Mesa Mill
- Tony M mine already reopened and rehabilitated in 2024
- Technical optimization studies underway could reduce operating costs and improve efficiency
- Strategic positioning to capitalize on growing U.S. uranium demand
- Production decision still pending and subject to technical/economic evaluations
- Additional testing and studies required before production can commence
- Potential capital requirements for mine restart not disclosed
Insights
IsoEnergy positions for near-term uranium production with advanced technical studies at permitted U.S. mines amid favorable nuclear policy environment.
IsoEnergy is making significant operational progress toward potentially becoming one of the few uranium producers in the United States, with concrete steps that substantially de-risk their path to production. The company has initiated several technical optimization programs at its fully permitted Tony M Mine in Utah, including ore sorting and High-Pressure Slurry Ablation testing that could meaningfully improve project economics by reducing haulage and operating costs.
What's particularly notable is IsoEnergy's regulatory readiness. All three of their U.S. uranium mines (Tony M, Daneros, and Rim) already have the major permits in place - a significant competitive advantage in an industry where permitting typically represents a multi-year bottleneck. This regulatory head start, combined with their existing toll milling agreement with Energy Fuels at the operational White Mesa Mill, creates a compressed timeline to potential production.
The enhanced evaporation study at Tony M is especially strategic - by potentially eliminating the need for additional pond capacity, the company could significantly reduce both capital requirements and the timeline for mine dewatering, which is often a critical path item for mine restarts. The mine's prior rehabilitation work completed in 2024 further accelerates the potential restart timeline.
With the company targeting a production decision later in 2025 based on the technical and economic evaluations underway, IsoEnergy is positioning itself to potentially capitalize on the significant supply-demand imbalance in the U.S. uranium market, where domestic production currently satisfies only a fraction of demand despite growing policy support for nuclear energy.
The timing of IsoEnergy's advancement toward potential uranium production aligns perfectly with macro trends in the U.S. energy landscape. The uranium market is experiencing a fundamental shift in supply-demand dynamics that strongly favors domestic producers. Current U.S. uranium production satisfies less than 5% of domestic reactor requirements, creating a strategic vulnerability that policymakers are increasingly focused on addressing.
IsoEnergy's approach of layering multiple efficiency innovations - ore sorting, HPSA processing, and enhanced evaporation - could deliver significant competitive advantages in unit economics. The ore sorting technology from Steinert Group has demonstrated 20-40% waste rejection rates in similar applications, potentially reducing transport volumes and associated costs substantially. Combined with the secured toll milling agreement at the White Mesa Mill, this creates a capital-efficient path to production without the massive upfront investment typically required for new processing facilities.
The company's multi-asset approach also provides operational flexibility. With three fully-permitted mines, IsoEnergy can sequence development based on optimizing capital deployment and market timing. Tony M appears to be the lead asset given its advanced rehabilitation status, but having the Daneros and Rim mines in the pipeline creates a potential production growth trajectory beyond initial restart.
What's particularly valuable for IsoEnergy is having these assets in the current policy environment. The bipartisan support for domestic nuclear fuel supply has resulted in multiple funding initiatives and procurement programs designed specifically to rebuild U.S. uranium production capacity. This convergence of operational readiness with favorable policy could significantly enhance project economics beyond what conventional market assumptions might suggest.
Highlights
- Technical Studies Underway at Tony M Mine focused on optimizing mine operations, reducing costs, and accelerating restart timelines, including:
- Ore Sorting and High-Pressure Slurry Ablation (HPSA) Testing - Bulk pilot programs launched to evaluate high-efficiency material processing and reduce haulage and operating costs.
- Enhanced Evaporation Study - Aims to reduce capital costs and accelerate dewatering by increasing evaporation rates at existing pond infrastructure.
- All major mining permits in place across Tony M, Daneros, and Rim Mines, providing a significant regulatory advantage and flexibility to restart quickly.
- Toll Milling Agreement with Energy Fuels Inc. at the nearby, fully operational White Mesa Mill.
- Strong tailwinds from
U.S. nuclear policy believed to underscore the strategic importance of domestic uranium production. - Potential production decision anticipated in 2025, following results from ongoing technical and economic evaluations.
Philip Williams, CEO and Director of IsoEnergy commented, "Momentum is accelerating across the
Advancing Operational Readiness at Tony M Mine
The 2025 work program at Tony M includes advancing ore sorting and enhanced evaporation studies, as well as evaluating multiple mining methods to optimize future production scenarios. The Company is also preparing for technical and economic assessments that could form the basis for a restart plan. Importantly, Tony M has been fully rehabilitated, and IsoEnergy holds a toll milling agreement with Energy Fuels Inc. at the nearby White Mesa Mill, which is fully operational. This is expected to position IsoEnergy to bring product to market far more quickly.
Ore Sorting Study
IsoEnergy has engaged Steinert Group, a global leader in separation technology, to test sensor-based ore sorting on mineralized material from the Tony M Mine. Bulk pilot testing using a Steinert KSS Sensor Sorter is scheduled to begin late June. This technology uses a combination of 3D, color, induction, and x-ray sensors to identify and separate target material, with the potential to:
- Reduce haulage costs by concentrating mineralization and lowering transport volumes to the White Mesa Mill;
- Improve mining productivity by reducing waste and enhancing ore advance rates; and
- Minimize dilution through more precise material handling.
The Company continues to evaluate mining methods, including the use of three-drum slushers, to safely recover ore left in pillars from historical operations.
High-Pressure Slurry Ablation (HPSA) Testing
In parallel, IsoEnergy is testing mineralized material from Tony M at Disa Technologies using their patented High-Pressure Slurry Ablation (HPSA) process. HPSA uses high-pressure slurry streams to separate uranium coatings from sand grains, offering similar potential benefits to ore sorting in improving process efficiency and reducing costs.
Enhanced Evaporation Study
IsoEnergy is working with RWI Enhanced Evaporation to evaluate the use of Landshark evaporators on the Tony M evaporation pond. Preliminary results suggest that enhanced evaporation could eliminate the need for constructing additional pond capacity, reducing future dewatering timelines and associated costs for the later stages of mining.
Key Permits in Place
Three of IsoEnergy's
- Tony M Mine
- Large Mine Notice of Intention (NOI) from the
State of Utah - Approved Plan of Operations (POO) with accompanying Environmental Assessment (EA) and Finding of No Significant Impact (FONSI) for mining on BLM-managed land
- Title V Operating Air Permit, allowing active ventilation and emissions compliance
- Daneros Mine
- Small Mine NOI, with an approved POO modification to expand surface disturbance and transition to Large Mine status
- EA and FONSI completed for proposed expansion on BLM land
- Rim Mine
- Large Mine NOI and an approved POO, also supported by completed EA and FONSI
Together, these permits provide IsoEnergy with a significant regulatory advantage, allowing for potential rapid reactivation of operations in response to improving uranium market conditions and anticipated strategic policy shifts favoring domestic nuclear fuel supply.
About IsoEnergy Ltd.
IsoEnergy (NYSE American: ISOU and TSX: ISO) is a leading, globally diversified uranium company with substantial current and historical mineral resources in top uranium mining jurisdictions of
IsoEnergy also holds a portfolio of permitted past-producing, conventional uranium and vanadium mines in
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of
Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management at the time, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Such assumptions include, but are not limited to, assumptions that the results of planned exploration and development activities are as anticipated; assumptions that the results of planned technical work programs and technical and economic assessments are as anticipated; the anticipated mineralization of IsoEnergy's projects being consistent with expectations and the potential benefits from such projects and any upside from such projects; the price of uranium; assumptions regarding uranium market conditions and policy shifts; that general business and economic conditions will not change in a materially adverse manner; that financing will be available if and when needed and on reasonable terms; and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned activities will be available on reasonable terms and in a timely manner. Although IsoEnergy has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Such statements represent the current views of IsoEnergy with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by IsoEnergy, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Risks and uncertainties include, but are not limited to the following: negative operating cash flow and dependence on third party financing; uncertainty of additional financing; no known mineral reserves; aboriginal title and consultation issues; reliance on key management and other personnel; actual results of technical work programs and technical and economic assessments being different than anticipated; changes in development and production plans based upon results; availability of third party contractors; availability of equipment and supplies; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena; other environmental risks; changes in laws and regulations; regulatory determinations and delays; stock market conditions generally; demand, supply and pricing for uranium; other risks associated with the mineral exploration industry; and general economic and political conditions in
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SOURCE IsoEnergy Ltd.
FAQ
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