Exploration and development company African Energy Metals’ (AEM’s) proposed acquisition of all the issued and outstanding shares of uranium exploration and development company GoviEx’s wholly-owned subsidiary Delta Exploration Mali, has been terminated because AEM was unable to complete the obligations required for closing.
Delta Exploration Mali holds the Falea project, in Mali. In light of this development, GoviEx will continue to retain its ownership of the Falea project.
The company said on June 3 that its primary focus going forward would be to concentrate its resources on the development of its two advanced-stage mine-permitted projects, namely Madaouela, in Niger, and Muntanga, in Zambia.