Report presents the results of a preliminary study of the commercial feasibility of producing yellowcake from the Beverley sedimentary uranium deposit located near Lake Frome. All of the available drillhole data for this deposit was examined and assessed. The deposit is presently estimated to contain 4.85 million tons of recoverable ore with a grade of 0.24% U3O8. The ore is in 3 separate bodies lying at a depth of about 400 feet. Open pit mining is considered necessary with pit walls sloped at 30 degrees from the horizontal. The indicated waste : ore ratio is 70:1. The ore is amenable to treatment by the sulphuric acid leach - solvent extraction recovery method, and overall recovery is expected to be 94.3%. Estimated capital and operating costs for the mill are, respectively, US$8,947,000 and US$2.61 per ton milled. Waste stripping by bulldozers and conveyors is proposed, requiring a capital expenditure of US$12,155,000, and yielding an operating cost of US$0.12 per ton removed. The total capital requirement for plant is estimated to be US$25,802,000, and direct operating costs are estimated to be US$13.01 per ton milled. The poorly consolidated nature of the ore host rock and the consequence thereof on mining costs is regarded as a serious obstacle to exploitation. It is recommended that priority be given to a soil and groundwater study to permit more accurate pit design and to accommodate possible mining problems resulting from groundwater.