The Conversation (0)
August 14, 2024
Moab Minerals (ASX:MOM), a uranium exploration company, presents a compelling case for investors evaluating opportunities in the rapidly growing uranium market with the high-quality Manyoni and Octavo projects in Tanzania.
Tanzania, a global leader in uranium resources, is in a good position to establish itself as a significant player in the global nuclear energy sector. Significant Tanzanian deposits include Namtumbo (Mkuju), Bahi, Galapo, Minjingu, Mbulu, Simanjiro, Lake Natron, Manyoni, Songea, Tunduru, Madaba and Nachingwea. Of these projects, Mkuju River is the largest, boasting a mineral resource of 8,500 tons U3O8 and, once operational, will be the country’s first operating uranium mine.
Moab Minerals announced the acquisition of a majority stake in Katika Resources, a Tanzanian company that holds the Manyoni and Octavo uranium projects on the 8th of July 2024. The Manyoni project was previously explored by Uranex Ltd from the early 2000s until 2013. The Octavo uranium project is adjacent to Rosatom’s world-class Nyota uranium deposit (Mkuju River project), which was formerly held by ASX-listed Mantra Resources before the AU$1.02 billion takeover in 2011.
Company Highlights
- Moab Minerals is a uranium exploration company developing its primary uranium assets in Tanzania - Manyoni and Octavo.
- Tanzania is a global leader in identified uranium resources and companies operating in the country benefit from a supportive pro-mining government.
- Positive outlook for uranium, with demand expected to increase by 28 percent in 2030, and 51 percent by 2040.
- The Company is looking to start drilling 1,500 metres in August/September to validate historical drill results from Uranex (early 2000’s-2013) and to test extensions of the known mineralization at Manyoni.
- Additional upside exists from Moab’s uranium-vanadium asset (REX project) located in Colorado and within trucking distance of the White Mesa Mill.
This Moab Minerals profile is part of a paid investor education campaign.*
Click here to connect with Moab Minerals (ASX:MOM) to receive an Investor Presentation
MOM:AU
24 March
Uranium Assay Results for Manyoni Uranium Project
18 February
Outstanding Uranium Assay Results at Manyoni Uranium Project
29 January
Quarterly Activities Report and Appendix 5B
08 December 2024
Manyoni Uranium Project - Validation Drilling Completed
10h
Scoping Study Demonstrates Low Cost Potential (Replacement)
15h
High Gold Price Sparks Renewed Interest in Queensland Gold Region, Report Says
AuKing Mining (ASX:AKN) has been cited in a news report as among two Australian companies well-placed to take advantage of rising gold prices and the re-emergence of historic gold mines in Queensland.
An article from ABC Australia noted record-high global gold prices are revitalizing the gold mining industry in outback Queensland, particularly in the Cloncurry region. Once a bustling mining area, Cloncurry experienced a decline in the 1990s due to falling gold prices. However, the current surge has prompted renewed interest in both exploration and the reopening of historical mines.
In particular, the Ernest Henry Copper-Gold Mine, a significant site in the region, is estimated to contain 2 million ounces of gold. The Cloncurry Gold Project, encompassing multiple mines over 400 square kilometers, is also poised to benefit from the current boom.
“Orion Resources and AuKing Mining Limited plan to re-lease 20 historic gold mines in the region, bringing them back to life under the banner of the Cloncurry Gold Project,” the article stated.
AuKing Mining’s managing director Paul Williams told ABC Australia the “great gold price environment” and access to significant data from previous work done in the area create an advantageous position for both Orion and AuKing capitalize on the current trend.
Read the full article here.Keep reading...Show less
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Scoping Study Demonstrates Low Cost ISR Uranium Potential
03 June
Blue Sky Uranium Forges Ahead with Ivana Project Through Strategic COAM Joint Venture
Blue Sky Uranium (TSXV:BSK,OTCQB:BSURF,FWB:MAL2) is making significant strides in advancing its flagship Ivana uranium-vanadium project in Argentina. In a recent interview, President and CEO Nikolaos Cacos detailed the company's newly formed joint venture with Abatare Spain (COAM), a strategic partnership poised to accelerate the project toward production.
Cacos highlighted the establishment of a new joint venture company, Ivana Minerales, formed with COAM to drive the Ivana deposit forward. This collaboration represents a pivotal moment for Blue Sky, as COAM is committed to funding cumulative expenditures of US$35 million to acquire a 49.9 percent indirect equity interest in the deposit. Furthermore, COAM holds the option to increase its stake to 80 percent by completing a feasibility study and fully funding the project's costs.
“As far as our long-term objectives go, it achieves the first long-term objective of creating a pathway to take it right through to production, and allows us now to begin to look at and focus on our other 100 percent owned projects that we have … coming up with a second uranium discovery,” Cacos explained.
The Blue Sky chief executive also touched upon the broader economic landscape in Argentina, noting the positive impact of new government policies aimed at attracting foreign investment and fostering economic growth.
“Argentina is becoming a very favorable business destination,” he said. “And by virtue of the fact that we're already there — we already are known to the government, we're known in the industry — it gives us a leg up in knowing how to operate there.”
Watch the full interview with Nicolaos Cacos, president and CEO of Blue Sky Uranium, above.
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03 June
US Admin Fast Tracks Laramide Uranium Projects, Meta Pens Nuclear Power Deal
Laramide Resources' (TSX:LAM,ASX:LAM,OTCQX:LMRXF) Crownpoint-Churchrock and La Jara Mesa uranium projects in New Mexico have received covered project status under the federal FAST-41 permitting initiative.
Enacted in 2015, the FAST-41 designation is intended to streamline the environmental review and permitting processes for infrastructure projects considered important to national interests.
Since taking office, President Donald Trump has issued several executive orders and initiated a Section 232 investigation into energy security as part of a broader focus on accelerating domestic energy and critical minerals development.
Laramide's Crownpoint-Churchrock project, located in McKinley County, is comprised of two uranium deposits that are amenable to in-situ recovery and holds a US Nuclear Regulatory Commission license.
According to a 2023 technical report, the project holds a 50.8 million pound U3O8 inferred resource.
The La Jara Mesa project, situated in the Grants Mineral Belt of Cibola County, is a sandstone-hosted uranium deposit currently working through the uranium production permitting process.
The Laramide news comes after the US Department of the Interior expedited the environmental assessment for Anfield Energy’s (TSXV:AEC,OTCQB:ANLDF) Velvet-Wood uranium project in Utah last month. According to reports, the review was completed in 14 days — a timeline significantly shorter than the standard review process.
Shares of Laramide are up 4.69 percent on the TSX since the Monday (June 2) news, trading for C$0.67.
Nuclear deals fuel market optimism
The uranium sector has seen a broad wave of positivity since Trump signed several executive orders geared at supporting the country's nuclear industry, with players across the value chain benefiting.
Tuesday (June 3) brought another boost for the sector, with energy provider Constellation Energy (NASDAQ:CEG) announcing a major deal. In a significant development for the US nuclear energy sector, Constellation and Meta Platforms (NASDAQ:META) have entered into a 20 year agreement through which Mark Zuckerberg's Meta will purchase power from the Clinton Clean Energy Center in Illinois, starting in June 2027.
The deal is part of a wider initiative by Meta to meet its growing energy needs, in particular the energy required for its artificial intelligence and data center operations. The agreement will ensure the continued operation of the Clinton nuclear facility beyond the expiration of Illinois' zero-emission credit program.
Clinton's output will increase by 30 megawatts via the deal.
This partnership highlights the ongoing trend of tech companies investing in nuclear energy to meet escalating power demand and aligns with federal initiatives to bolster domestic nuclear capacity.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
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03 June
China's Breakthrough in Uranium Seawater Extraction Boosts Efficiency by 40 Times
Chinese researchers have unveiled a method of extracting uranium from seawater at a fraction of the previous cost and energy use, positioning the country to potentially secure long-term domestic supply.
Scientists from Hunan University have developed an advanced electrochemical system that can extract uranium from seawater more efficiently and economically than any method currently in use.
The innovation, led by Professor Shuangyin Wang and his team, features a novel dual-electrode design using copper at both the positive and negative terminals, allowing uranium ions to be collected simultaneously at both ends.
The system achieved a 100 percent extraction rate from a synthetic seawater solution within 40 minutes — a remarkable leap from earlier physical adsorption methods, which typically extract less than 10 percent.
When tested with natural seawater, the device extracted all uranium from East China Sea samples and up to 85 percent from South China Sea water, reaching 100 percent in the latter case with larger electrodes.
It accomplished these results while consuming over 1,000 times less energy than existing electrochemical systems. The total cost was estimated at US$83 per kilogram of uranium — half the cost of physical adsorption (US$205 per kilogram) and nearly one-fourth that of previous electrochemical approaches (US$360 per kilogram).
The implications for China’s energy security could be substantial.
According to the International Energy Agency, China is building more nuclear power plants than any other country, and is expected to surpass the US and EU in installed nuclear capacity by 2030.
However, much of the uranium needed to fuel this growth is imported. In 2024, China imported 13,000 metric tons of uranium, compared to just 1,700 tonnes mined domestically.
Given the estimated 4.5 billion metric tons of uranium dissolved in the world’s oceans — over 1,000 times the amount in terrestrial reserves — seawater extraction has long been seen as a tantalizing, but technologically elusive solution.
Japan led early efforts in the 1980s and 1990s, extracting 1 kilogram of uranium using large-scale marine trials, a milestone that China is now poised to eclipse. The new electrochemical technique builds on recent momentum in China’s marine uranium research. In March of this year, scientists from Lanzhou University’s Frontiers Science Center for Rare Isotopes published a separate study detailing a breakthrough in uranium-vanadium separation, a major technical challenge due to the similar chemical properties of the two elements in seawater.
The Lanzhou team engineered a metal-organic framework (MOF) material embedded with diphenylethylene molecules that can change pore sizes under ultraviolet light.
This enabled the MOF to selectively attract uranium ions over vanadium, increasing uranium adsorption capacity to 588 milligrams per gram, and improving uranium-vanadium separation efficiency by 40-fold.
Their uranium selectivity factor reached 215 — the highest ever reported in natural seawater.
Both research efforts support China’s national nuclear strategy. In 2019, China National Nuclear partnered with 14 domestic research institutions to establish the Seawater Uranium Extraction Technology Innovation Alliance.
This government-backed initiative set ambitious milestones: match Japan’s kilogram-level extraction record by 2025, build a metric ton-scale demonstration plant by 2035 and reach continuous industrial production by 2050.
The alliance's work is driven by projections from the International Atomic Energy Agency, which forecasts that China’s uranium demand will exceed 40,000 metric tons annually by 2040. Marine extraction, if scaled successfully, could ease long-term supply pressures and reduce geopolitical risk tied to uranium imports.
Of course, despite promising lab results, transitioning to industrial-scale extraction poses engineering and economic hurdles. For example, scaling up the Hunan system would involve increasing the number and size of electrochemical cells and managing flow rates across larger volumes of seawater.
If successful, the innovation could revolutionize the global uranium market. By tapping into the ocean’s near-limitless uranium reserves, China could not only meet its own needs, but also shift the geopolitical dynamics of nuclear energy.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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