https://www.engineeringnews.co.za

Thundelarra sells uranium assets to focus on copper, gold

11th November 2013

By: Creamer Media Reporter

  

Font size: - +

JOHANNESBURG (miningweekly.com) – Exploration company Thundelarra has negotiated the sale of its Hayes Creek uranium assets, near Darwin, in the Northern Territory, to focus on base metals and gold exploration.

Thundelarra is selling the assets to an unlisted Australian firm for $1.5-million in cash and shares. The cash component is $650 000 and the share component will crystallise in the next two years, as and when the purchaser lists on the ASX or another recognised stock exchange. The company did not name the purchaser, but said that it held a counter-cyclical view of the uranium sector and had appetite for active exploration in the sector.

“Our primary focus is Allamber via our 100% interest. Rationalisation of our uranium interests through this transaction provides upside through equity along with a welcome cash injection,” chairperson Phil Crabb commented.

A copper-rich sequence that extends over 20 km has been identified at the Allamber project, in the Northern Territory. The company also owns exploration projects in Western Australia.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Astore Keymak
Astore Keymak

Astore Keymak is one of South Africa’s leading suppliers of high-quality Thermoplastic Pipeline Systems, with branches in the major provinces.

VISIT SHOWROOM 
Monitor Distributors
Monitor Distributors

We at Hawk High Pressure Pumps specialise in industrial pumps and pumping systems. Our high pressure washing equipment is locally manufactured and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.077 1.347s - 140pq - 2rq
Subscribe Now