The Rook I project includes a new underground mine and mill in the southwestern part of the Athabasca Basin.

The costs are related to the Ranger mine in Northern Territory, which was closed in 2021.

The Prohibiting Russian Uranium Imports Act would bar Russian uranium imports 90 days after enactment while allowing a temporary waiver until January 2028.

ATHA is holder of the largest cumulative exploration package in each of the Athabasca and Thelon basins.

Russia supplied almost a quarter of the enriched uranium used to fuel America's fleet of over 90 commercial reactors last year.

The project has an annual production capacity of 1.5 million pounds of yellowcake.

The company is anticipating its first shipment of yellowcake to occur over the course of the next 45 to 60 days.

The price of uranium will hit triple-digits for the first time since 2007 as nations weaning off oil and seeking energy security deplete nuclear fuel supplies, says investment fund.