Panama Supreme Court to decide First Quantum’s contract fate
Modified law, however, will ban all future mining concessions, including exploration, extraction and transportation of minerals, as well as contract renewals in Panama.
The amended licence increases Hobson's licensed production capacity by four-fold to 4 million pounds annually, distinguishing it as the largest uranium plant in Texas.
According to the company, a “significant amount” of the net proceeds will be used for advancing work related to the planned exploration and development program.
The company released a prefeasibility study for the project in northern Ontario, showing lower resource grades and a reduced net present value, while dropping a plan to build a refinery.