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.