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Goviex Uranium has announced intentions to reinvigorate focus to publish its feasibility study later this year for Muntanga project in Southern Zambia.
The development comes as the company no longer has rights over the perimeter of the mining permit for Madaouela Project in Niger, which reverted back to the public domain.
“Adversity often paves the way for reflection and re-evaluation,” said Govind Friedland, Chairman of GoviEx Uranium.
Friedland said though the company is going to continue to fight for Madaouela, the current situation also represents a unique opportunity to concentrate efforts on Muntanga, to drive the growth and success of operations.
“Muntanga is a project with massive potential, poised to become a cornerstone of our company. We have been working to develop Muntanga since 2016.
“This project has Mineral Resources of 42.6 million tonnes at an average grade of 359 ppm U3O8, containing 33.7 million pounds of U3O8(M&I), and 15.0 million tonnes at an average grade of 330 ppm U3O8, containing 10.9 million pounds of U3O8 (inferred) in five deposits (Muntanga, Dibbwi East, Dibbwi, Gwabi, and Njame), located over 65 km strike.”
Goviex is confident that Zambia is a democratic, stable, pro-mining country which is keen to see the development of new projects – and we look forward to developing it.
“We thank you for your continued support and understanding during these complex times,” said Friedland in a letter to shareholders.
“Going forward, we will not be defined by this setback but by our capacity to adapt and thrive,” he added.
Over the past two decades, GoviEx has transformed Madaouela from an exploratory venture into one of the world’s largest known uranium deposits.
