C29 Metals

Quarterly Activities Report - For Period Ended 30 June 2024

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.


Click here for the full ASX Release

This article includes content from C29 Metals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

C29:AU
C29 Metals

C29 Metals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
C29 Metals

C29 Metals


Keep reading...Show less

Uranium exploration in top producing, mining-friendly jurisdiction of Kazakhstan

New Age Exploration Limited

NAE Commences Maiden RC Drilling at the Wagyu Gold Project, Pilbara WA

New Age Exploration (ASX: NAE) (NAE or the Company) is pleased to announce that Strike Drilling has mobilised to site with a Schramm T450 rig, and Reverse Circulation (RC) drilling has begun as of Sunday, 16 March 2025.

Keep reading...Show less
Power lines, stock chart and money symbolizing energy market growth.

Uranium Price Update: Q1 2025 in Review

Impacted by broad uncertainty, geopolitical risks and trade tensions, the spot U3O8 price fell 13.26 percent during Q1, starting the session at US$74.74 per pound and contracting to US$64.83 by March 31.

As factors outside the uranium sector forced spot price consolidation, long-term uranium prices remained steady, holding at the US$80 level, a possible indicator of the market’s long-term potential.

Although the U3O8 spot price hit nearly two decade highs in 2024, the sector has been unable to find continued support in 2025. Much uncertainty has been introduced this year by the Trump administration's on-again, off-again tariffs, which have infused the already opaque uranium market with even more ambiguity.

As volatility rattles investors, US utility companies have also been impacted by the threat of tariffs.

“There's a lot of speculation,” Per Jander, director of nuclear fuel at WMC, told the Investing News Network (INN) in a March interview. “I think the new administration is unpredictable, and I think that is by design, and (they are) obviously doing a very good job at that. But again, it has ripple effects for players in the market.”

Keep reading...Show less
Mineralisation structures Identified at North Sweden project

Mineralisation structures Identified at North Sweden project

Basin Energy (BSN:AU) has announced Mineralisation structures Identified at North Sweden project

Download the PDF here.

Canadian flag next to uranium ore.

5 Best-performing Canadian Uranium Stocks of 2025

Q1 2025 has been a turbulent time for the uranium market as long term demand fundamentals proved insufficient at combatting global economic uncertainty.

Following 2024’s impressive performance that saw U308 spot prices break through the US$100 per pound threshold, reaching a 17 year high, the first three months of 2025 have been punctuated with volatility.

Concern about the impact of potential US energy tariffs on significant uranium producer Canada added headwinds to uranium’s sails early on. As tensions between the US and its neighboring ally ratcheted up, U3O8 spot prices slipped lower, falling to US$63.44 in mid-March, a low last seen in September 2023.

Keep reading...Show less
Toro Energy (ASX:TOE)

Toro Energy


Keep reading...Show less
Western Uranium & Vanadium Corp. Announces Ore Purchase Agreement

Western Uranium & Vanadium Corp. Announces Ore Purchase Agreement

Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) (" Western " or the " Company ") is pleased to announce that the Company has entered into an Ore Purchase Agreement ("Agreement") with Energy Fuels Inc. (NYSE American: UUUU) (TSX:EFR).

Western plans to commence hauling around the beginning of May, making deliveries to Energy Fuels' White Mesa Mill, the only operational conventional uranium/vanadium mill in the United States. Deliveries will be sourced from previously mined production that has been stockpiled at the Company's flagship Sunday Mine Complex. The Agreement is for a one year period, and provisions for the delivery of up to 25,000 short tons of uranium bearing ore. The purchase price will be calculated based upon the uranium grade of each closed lot according to the agreed pricing schedule.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
AuKing Mining (ASX:AKN)

AuKing Mining


Keep reading...Show less
C29 Metals

C29 Metals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×