This report contains an analysis of the economic impacts of new uranium mining and milling operations in New Mexico. The report was prepared by Arrowhead Center, Inc., a non‐profit corporation wholly owned by New Mexico State University, under contract with the law firm of Comeau, Maldegen, Templeman & Indall, LLP of Santa Fe, NM. The report analyzes the economic impact of certain specific projects proposed to be developed in New Mexico and reported to the law firm of Comeau, Maldegen, Templeman, and Indall, LLP (CMTI) and provided to Arrowhead Center in an aggregate manner. The assumptions and conclusions contained herein reflect only on the projected economic impact of these projects and do not otherwise reflect in any manner the potential economic value of other possible projects not identified for this report. In addition, this report does not attempt to reflect general economic parameters for the industry except as it relates to the projects evaluated herein in the aggregate.