Uranium One suspends Honeymoon development

22 May 2008

Uranium One announced that it will suspend development of its Honeymoon uranium project in South Australia. Whilst announcing financial results and production figures for the first quarter of 2008, Uranium One said it "remains focused on operating and developing its core uranium properties in Kazakhstan, South Africa and the United States." It added that it has decided to "suspend development activities at Honeymoon to allow for evaluation of corporate development opportunities for the project." Honeymoon was expected to begin production in early 2009. Output from the in-situ leach (ISL) mine in 2009 was expected to be some 270 tonnes U3O8, then 400 tonnes U3O8 annually thereafter.