Canadian junior buys Namibian prospecting licences
Canadian junior Monterey Minerals has signed definitive agreements for the acquisition of seven exclusive prospecting licences from a group of private prospectors in Namibia.
The acquisition of 85% interest in these properties, totalling 93 514 ha, would make the company one of the larger and better-positioned landowners in the Erongo province, it said in a statement on Thursday.
The Erongo province accounts for about 8% of the globe’s uranium production.
Monterey said its initial focus would be on three licences, which were in close proximity to significant Namibian uranium assets – the Husab and Rossing mines – as well as the development stage Forsys Metal Valencia and Namibplaas deposits, known as the Norasa project.
“The location of our newly acquired property package positions us to make an impact in the sector. During regional due diligence, we were able to define our immediate focus on properties surrounding significant uranium development and production assets,” said president and CEO Jason Bagg.
He added that exploration plans would be announced shortly and that the exploration programme would begin in the second quarter.
Monterey, which would also change its name to Puranium Energy, would issue the vendors eight-million shares and pay $175 000 for the acquisition of the properties.
Monterey currently owns the Cobalt Mountain polymetallic project in British Columbia and an option to purchase a 100% interest in 35 mineral claims in Ontario.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
The Beneficiation Academy is a certified training institution that follows all compliance legislation and is accredited with various Sector...
VISIT SHOWROOM
The SAIMM started as a learned society in 1894 after the invention of the cyanide process that saved the South African gold mining industry of the...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
