C29 Metals Limited (ASX:C29) (C29, or the Company) is pleased to provide an overview of activities for the period ending 30 June 2024 (the “Quarter”, the “Reporting Period”) to accompany the Appendix 5b.
June 2024 Quarter Activities
- The Company approved the acquisition of the Ulytau Uranium Project in Kazakhstan
- Subsequent to the quarter two additional license applications were lodged for the surrounding areas of Ulytau Uranium Project – combined size of the tenement application is ~252km2
- Exploration drilling approvals for Ulytau Uranium Project progressed during the Quarter
- Tranche 2 Placement completed – C29 raised $1.93m in the current quarter (before costs)
- Extraordinary General Meeting of Shareholders held on the 6 May 2024, with all resolutions carried by vote
- Appointment of Chief Financial Officer and Company Secretary, Ms Ailsa Osborne
- Appointment of Company’s Geological Competent Person, Mr Alan Marlow
Commenting on the Quarter, C29 Metals Managing Director, Shannon Green, stated: “The June Quarter of 2024 was transformational for C29, seeing us approve the acquisition of a new Uranium asset in Kazakhstan – the world’s top Uranium producer.
The Ulytau Uranium Project, situated near Lake Balkhash and close to the well-known Bota-Burum Mine, presents a new opportunity for C29 to to explore in a world leading Uranium production region , as well as the cornerstone for our ambitious growth strategy.There was a fantastic effort by the C29 team to bring the acquisition across the line, and we have already sought to expand our reach in the region with two new applications going in for surrounding areas with a combined size of approximately 252km2 to the northeast and southeast of Ulytau.
We were also pleased to have had the opportunity to consult with the local community in the village of Aksuyek, who have shown their support for the Companys proposed exploration programs. A social support agreement was signed on the 9 July 2024 with the district government providing the framework for the Company to assist the village of Aksuyek with projects aligned to the social development of the community.
At the same time, back home following a General Meeting, we saw a successful capital raise to assist as we start our exploration project at Ulytau, where the resource is open in almost all directions.”
Media, Marketing and Investor Roadshows
During the quarter the Company undertook extensive investor roadshows and marketing campaigns encompassing presentations across the country and internationally including the Singapore Future Facing Commodities Conference held at the end of March 2024 and the Sydney Resource Round-up held in April 2024. The Company is committed to promoting stakeholder engagement, this commitment extended beyond the quarter attending the Noosa Mining Investor conference in July 2024.
Corporate
As at 30 June 2024, the Company held cash on hand of $2.233m.
The Company raised $1.93 million in the current quarter (before costs) via a placement of shares at 7 cents per share.
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Figure 1. Location Oasis project
Figure 2. Simplified Regional Geology