{"id":9246,"date":"2024-05-06T03:24:11","date_gmt":"2024-05-06T03:24:11","guid":{"rendered":"https:\/\/economicherald.net\/?p=9246"},"modified":"2024-05-06T03:24:11","modified_gmt":"2024-05-06T03:24:11","slug":"uvre-forges-uranium-deal-in-south-australias-world-class-yellowcake-district","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=9246","title":{"rendered":"Uvre forges uranium deal in South Australia\u2019s world-class yellowcake district"},"content":{"rendered":"

Uvre has entered into a binding agreement to acquire 100% of the issued capital in Uranium SA
\nUranium SA holds three prospects across two exploration licences
\nThe company plans to kick off exploration in August <\/p>\n

\u00a0<\/p>\n

Special report: Uvre has entered into a binding agreement to acquire 100% of the issued capital in Uranium SA, a special purpose vehicle with three uranium prospects across two exploration licences in South Australia\u2019s Frome basin. <\/strong><\/p>\n

As a major exporter of uranium oxide, South Australia hosts nearly a quarter of the world\u2019s uranium resources and major deposits including BHP\u2019s (ASX:BHP) Olympic Dam, the world\u2019s largest uranium deposit, Four Mile, Yarramba and the Beverley mines.<\/p>\n

The state is renowned for being proactive in uranium exploration and development, as demonstrated last month when Boss Energy\u2019s (ASX:BOE)<\/a> Honeymoon mine became the third producing asset in South Australia and Australia\u2019s first uranium project to be developed in the last decade.<\/p>\n

For the host of uranium juniors in the state, BOE\u2019s Honeymoon restart provides a clear signal that moving from exploration to production is well within reach.<\/p>\n

\u00a0<\/p>\n

Acquisition of three uranium prospects <\/strong><\/h2>\n

Now Uvre (ASX:UVA)<\/a> is making its mark with the acquisition of three uranium prospects in South Australia\u2019s Frome Basin, which hosts Australia\u2019s only two operating in situ Recovery (ISR) uranium mines at Beverley and Honeymoon.<\/p>\n

UVA has entered into a binding agreement to acquire 100% of the issued capital in Uranium SA Pty Ltd, a special purpose vehicle that owns the three prospects across two exploration licences.<\/p>\n

According to the company, the two licences are within 50km of Beverley and Honeymoon with other neighbours including Heathgate Resources, Rio Tinto Exploration, FMG Resources and Havilah Resources (ASX:HAV).<\/p>\n

\u00a0<\/p>\n

\u2018Exciting addition\u2019 <\/strong><\/h2>\n

\u201cThese South Australian uranium projects are an exciting addition to Uvre\u2019s growing portfolio of critical minerals,\u201d UVA managing director Pete Woods says.<\/p>\n

\u201cSouth Australia is Australia\u2019s premier Uranium mining jurisdiction, and we look forward to starting exploration on the projects as soon as possible.\u201d<\/p>\n

After the acquisition is complete Uvre plans to kick off exploration when it receives the grant of exploration licences, expected in August.<\/p>\n

\u00a0<\/p>\n

Capital raising to support uranium exploration <\/strong><\/h2>\n

Alongside the deal, UVA has received binding commitments to raise $1.25m through a placement of 12.5m shares at $0.10 per share to fast-track exploration at the South Australian project.<\/p>\n

The issue price represents a 4.76% discount to the last traded price on ASX on 1 May 2024 and to the 10-day VWAP of $0.105 per share.<\/p>\n

UVA says the placement was strongly supported by the company\u2019s largest existing shareholders alongside the introduction of new strategic investors.<\/p>\n

The placement also includes a binding commitment from directors to subscribe for an aggregate of $160,000 in shares (on the same terms as the placement), which will be subject to shareholder approval.<\/p>\n

\u201cWe welcome the new shareholder group and appreciate the support of the new and existing shareholders as we continue to build value through systematic exploration on our current projects and strategic asset acquisitions,\u201d Woods says.<\/p>\n

\u201cUvre has a very healthy cash balance, tight capital structure and are motivated to advance the assets rapidly as the uranium resurgence and search for uranium assets across the globe intensifies.\u201d<\/p>\n

\u00a0<\/p>\n\n

\ufeff<\/span>\u00a0<\/p>\n

\u00a0<\/p>\n

This article was developed in collaboration with Uvre, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n

\u00a0<\/em><\/p>\n

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n

<\/span><\/p>\n

The post Uvre forges uranium deal in South Australia\u2019s world-class yellowcake district<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Uvre has entered into a binding agreement to acquire 100% of the issued capital in Uranium SA Uranium SA holds three prospects across two exploration [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":9247,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-9246","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nUvre forges uranium deal in South Australia\u2019s world-class yellowcake district - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=9246\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Uvre forges uranium deal in South Australia\u2019s world-class yellowcake district - 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