Albidon defers uranium feasibility study

The instability of the global financial markets has prompted West Perth-based Albidon Ltd to defer most aspects of the bankable feasibility study on its Chirundu uranium joint venture.

The West Perth-based company said that following discussions with JV partner African Energy Resources Ltd, the participants had decided that the BHS will defer further progress of the BFS with two exceptions.

Those exceptions are the updating of the resource for the Njame and Gwabe deposits, expected at the end of this quarter, and the modified metallurgical test program.

"The Participants will continue to monitor the situation on an on-going basis and expect to resume the outstanding components of the BFS once market conditions improve," Albidon said.

Shares in Albidon have jumped 24 per cent to 43.5c at 13:03 AEDT.