Pele forging ahead with uranium mine.

• Position: MINING

Despite reduced rare earth price assumptions, an economic review by Pele Mountain Resources projects its Elliot Lake-area uranium-REO mine to have positive economics.

The review, conducted by Roscoe Postle Associates, is based on the NI 43-101 resource estimate released by Pele in June. Highlights include a 46 per cent increase in the life-of-mine REO production to 141.6 million pound; 52 per cent of its projects revenue would come from REO production and nearly 80 per cent of REO revenue from critical REO. It also projects a 55 per cent increase in the life-of-mine uranium production to 42.7 million pounds.

"The economic review demonstrates, once again, that our Eco Ridge Mine Project has excellent economic potential," president and CEO Al Shefsky said in a news release.

"Eco Ridge is...