PERTH (miningweekly.com) – Junior developer Impact Minerals has taken the decision to sell off four of its noncore prospecting licences in the northern part of its Botswana uranium project.
The four licences would be transferred to Sechaba Natural Resources for a total of $800 000, consisting of a $250 000 cash consideration and some $500 000 of shares in Shumba Coal, which is listed on the Botswana Stock Exchange.
“The sale of these four noncore assets is an excellent outcome for Impact and is part of our exploration strategy to focus on the discovery of high-grade uranium deposits hosted by Proterozoic sedimentary and basement rocks similar to those in the Athabasca basin, in Canada, and the Pine Creek geosyncline, in Australia,” said Impact MD Mike Jones.
He noted that proceeds from the sale would further strengthen the company’s working capital position and would be put towards progressing exploration activities at the Red Hills prospect.