Moab Minerals Restricted (ASX: MOM) (Moab or the Firm) is happy to announce that it has accomplished the acquisition of 81.85% of the shares in Australian proprietary firm Linx Assets Pty Ltd (Linx), plus an extra 7.75% following the conversion of loans owing to Moab by Linx, bringing Moab’sownership of Linx to 89.6%. Linx is the 80% proprietor of sure Prospecting Licenses comprising the Manyoni Uranium Undertaking and the Octavo Uranium Undertaking, each positioned in Tanzania (refer ASX announcement dated 12 March 2024).
HIGHLIGHTS
- Moab has accomplished the acquisition of 81.85% of the shares of Linx Assets Pty Ltd, which boasts a various portfolio of superior, large-scale uranium tasks in Tanzania.
- Moab has transformed its mortgage to Linx of $521,000 to fairness in Linx, bringing Moab’s possession of Linx to 89.6%.
- The Asset portfolio consists of the Manyoni and Octavo Uranium Initiatives, protecting a complete of 216 km2.
- Strategically positioned simply 5km north of Manyoni city, the Manyoni Uranium Undertaking enjoys handy entry to fashionable railway and sealed freeway infrastructure in addition to available energy and water assets.
- The Manyoni Uranium Undertaking was beforehand explored, and extensively drilled, by Uranex Ltd from the early 2000’s till 2013.
- Drilling to start on the Manyoni undertaking in August/September.
- With roughly $1.9 million in money and equivalents, Moab is nicely geared up to fund exploration and growth initiatives.
Moab Managing Director, Malcolm Day commented “The completion of the acquisition of such excessive potential uranium tasks is transformational for the Firm. The truth that Uranex Ltd beforehand explored, and extensively drilled, the Manyoni Uranium Undertaking from the early 2000’s to 2013 assists the Firm enormously. There’s a giant quantity of historic exploration knowledge, together with drilling knowledge, that the Firm has entry to that may successfully save the Firm a number of money and time. The Fukushima catastrophe in 2011 had a dramatic influence on the uranium worth, and thus most pre-production uranium tasks worldwide had been shelved. Given the present uranium worth of circa US$85/lb, Moab is in the fitting place on the proper time to re-evaluate the Manyoni Uranium Undertaking and to start exploration on the Octavo Uranium Undertaking”.
The Manyoni and Octavo Uranium Initiatives
The Manyoni Uranium Undertaking tenements are positioned within the Republic of Tanzania (pop. 65 million), roughly 100km northwest of the capital metropolis of Dodoma (pop. 765,000). The placement of the uranium undertaking at Manyoni is proven in Determine 1 and Determine 2 and the placement of the Octavo uranium undertaking is proven in Determine 1 and Determine 3.
Determine 1. Location of Manyoni and Octavo Uranium Initiatives
Determine 2. Location of Manyoni Tenements
Determine 3. Location of Octavo Tenement
Tenement Data
The Manyoni and Octavo tenements are Prospecting Licences which can be granted for an preliminary interval of 4 years, renewable for additional durations of three years after which 2 years.
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