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Exploration

The exploration group continues to work in areas close to the mine in order to identify any additional targets within easy access of the processing plant.  Whilst mineralised areas have been identified these are not currently considered attractive enough to warrant drilling.  This activity is expected to continue until all the Karoo sandstone outcrop areas within the vicinity have been covered.

The Malawian Government has recently implemented a new Cadastral system and is in the process of introducing a new mining act.  The company has renewed the applications for additional licenses in the area adjacent and to the south of the mine and is in negotiation with existing coal license holders in the area to gain access to the land in order to fulfil tenement application requirements.

Latest prices

ASX A$ 0.20

Latest Prices

TradeTech U3O8 spot US$28.85/lb
TradeTech U3O8 long term US$31.00/lb

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