https://www.miningweekly.com

African Energy sells Zambian projects

7th March 2017

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed African Energy will sell its Zambian uranium portfolio to TSX-listed GoviEx Uranium for three-million shares and 1.6-million common share purchase warrants.

Each of the purchase warrants will be convertible into one common share at a price equal to the US dollar equivalent of 160% of the ten-day volume weighted average price of GoviEx’s shares.

The purchase warrants will have a period of three years.

African Energy on Tuesday told shareholders the transaction would unify the company’s Chirundu and Kariba Valley properties with GoviEx’s Mutanga project, resulting in a contiguous tenement containing a combined 15.2-million-pound uranium oxide resource.

Edited by Creamer Media Reporter

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION