ASX:EL8

Fully Funded – Accelerated Activities Underway

Elevate Uranium Limited (“Elevate Uranium”, or the “Company”) (ASX:EL8) is now fully funded to accelerate its exploration and development activities in Namibia and Australia. Following completion of the successful capital raising announced on 25 November 2021, which increased the Company’s cash at bank to $16.5 million, the Company will increase the pace of its ambitious exploration and development activities, with the aim of enhancing its existing inventory of 94.4 million JORC U3O8 mineral resources (see Table 1).


Key Highlights:

  • Strong financial position, currently $16.5 million cash at bank;
  • Substantial activities to be undertaken in Namibia and Australia;
  • KoppiesProject–Resourcedefinitiondrilling,followedbydelineationofaJORCresource, metallurgical test work program and feasibility study;
  • Hirabeb Project – Continuation of exploration drilling, within the 43 kilometres of paleochannels;
  • Success based exploration programs at other targets across the Company’s Namibian exploration portfolio;
  • Angela Project–exploration activities to increase level of confidence in the continuity and extent of the JORC resource;
  • Oobagooma Project – large exploration target identified; activities will be undertaken to enable estimation of a JORC mineral resource;
  • Minerva Project – undertake exploration around historical drill hole intervals of >10,000 ppm U3O8 (>1.0%U3O8).

Elevate Uranium’s Managing Director, Murray Hill, commented:

“In recent years, we have achieved significant success in acquiring uranium tenements and projects, exploring for and identifying significant uranium mineralisation, and consolidating the Company’s inventory of 94.4 million of JORC U3O8 resources. With cash of $16.5 million, the Company will now significantly accelerate the pace of its activities and we will hit the ground running in the new year, with aggressive exploration programs throughout 2022, in both Namibia and Australia. These activities are expected to generate regular news flow.”

Click here for the full ASX Release

This article includes content from Elevate Uranium, 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.

EL8:AU
The Conversation (0)
Yellow uranium rock on dark stones with ASX logo in the corner.

Top 3 ASX Uranium Stocks of 2025

After a volatile year defined by tightening supply, bullish investor sentiment and persistent structural challenges, the uranium market is entering the final quarter of 2025 with renewed momentum. Spot U3O8 prices have climbed from a March low of US$63.25 per pound to a year-to-date high of... Keep Reading...
Graph with rising trend, nuclear cooling towers emitting steam, and electrical towers.

US, Brookfield and Cameco Strike US$80 Billion Nuclear Reactor Deal

The US government has entered into an US$80 billion partnership with Brookfield Asset Management (NYSE:BAM,TSX:BAM) and Cameco (TSX:CCO,NYSE:CCJ) to construct new Westinghouse nuclear reactors across the country.The initiative aims to accelerate the domestic nuclear industry’s revival while... Keep Reading...
Canadian flag next to uranium ore.

5 Best-performing Canadian Uranium Stocks of 2025

The uranium market is entering the final quarter of 2025 with renewed momentum after a volatile year marked by tightening supply, bullish investor sentiment and lingering structural challenges. Spot U3O8 prices have surged from a March low of US$63.25 per pound to a year-to-date high of US$83.18... Keep Reading...
Quarterly Activities/Appendix 5B Cash Flow Report

Quarterly Activities/Appendix 5B Cash Flow Report

American Uranium (AMU:AU) has announced Quarterly Activities/Appendix 5B Cash Flow ReportDownload the PDF here. Keep Reading...
Yellow uranium ore with periodic table symbol on black reflective surface.

Thor Energy Plans to Recover Uranium, Critical Minerals from Colorado Mine Waste

Thor Energy (ASX:THR,LSE:THR) has finalized a binding agreement with US-based DISA Technologies to treat abandoned uranium mine waste in Colorado to recover saleable uranium and other critical minerals.Under the agreement, DISA will deploy its patented high-pressure slurry ablation technology at... Keep Reading...
Queensland Uranium and Rare Earth Acquisition Completed

Queensland Uranium and Rare Earth Acquisition Completed

Basin Energy (BSN:AU) has announced Queensland Uranium and Rare Earth Acquisition CompletedDownload the PDF here. Keep Reading...

Latest Press Releases

Related News