Uranex Reports Exciting Q2, Expresses Confidence in Nachu Project

Uranex Ltd. (ASX:UNX) released its report for the second quarter of 2014, commenting that “several especially significant events” have increased its confidence that the Nachu graphite project “is a world class project.”

Highlights of the quarter include:

• Memorandum of Understanding for Off-take signed with subsidiary of major SOE, China National Materials Industry Import and Export Corporation
• ‘Exploration Target’ indicates that the Nachu tenement has excellent potential to host one of the worlds’ top graphite deposits
• Excellent early stage metallurgical test results with up to 94.4% Total Graphitic Carbon (TGC) through conventional flotation and upgraded to 99.4% TGC using caustic bake
• Up to 45% of flakes over 180 microns in size, corresponding to large and jumbo categories
• $5 million placement to local and international investors

Click here to read the full Uranex Ltd. (ASX:UNX) press release.