Construction is presently underway to bring the Salamanca uranium mine, located in western Spain, into production with a targeted start date in 2018.
In the three months ended December 31 the company progressed the development, landed an important off-take deal to sell a portion of future production and it raised US$30mln of new capital.
"The Salamanca mine is being constructed just as uranium prices have begun rising after multi-year lows. We are receiving growing interest from US and Asian utilities who are looking to diversify their off-take with a low cost producer in the heart of the European Union," Atherley said in this morning’s quarterly activities report.
On a corporate level, the company had notable milestones in the quarter too. It appointed Paul Thomson as its new chief financial officer and was shortlisted for an award – the UK Stock Market Awards 'Investor Relations Team of the Year Award', along with Tesco, Sainsbury's and Next.