Coffee with Samso Episode 162 is all about uranium.
Today, we hear from Caroline Keats, Managing Director and CEO of ENRG Elements Limited (ASX: EEL) about their Uranium Project in Niger, a well known uranium province.
For decades, Niger has been a known uranium producing nation in an endowed U3O8 mineralising province. When I think of a mineral province, my thoughts are the area is a proven mineralised system. In this day and age, the need to get the product to market is a very important aspect as well.
The first Uranium story on Samso was in 2019 with Mike Young from Vimy Resources Limited. Vimy has since been taken over by Deep Yellow Limited (ASC: DYL). At that time, there was still a lot of resistance to the uranium business.
I feel the sentiment in the market has changed dramatically since 2019. There has been a recent rise in the price of "yellowcake" to above USD60 per pound.
With little activity in the uranium sector, our recent interview with Simon Mitchell of Orpheus Minerals Limited may have sparked off new perceived sentiments when they announced their IPO. Simon told our listeners about the new company doing uranium exploration in Australia.
The ENRG Element story is very different
We are talking about a project that is in a proven uranium mining province. We are talking about a proven uranium mineralised province. The nation of Niger is a significant uranium player.
My realisation of the potential of ENRG Elements is that there is a history of uranium mining and extraction in Niger. There are big players involved and the increasing sentiment for nuclear energy could make this a very interesting proposition.
Serious Business
ENRG Elements has a project that Paladin Energy Limited (ASX: PDN) had as a second project and they did work on the property. This was a project that Paladin did research on and acquired. It wasn't moose pasture.
This was also a project that is in a known and proven mineralised province. ENRG Elements has an inferred resource on the project as well. Definitely not a hope and a prayer style project.
The fact is that the company, ENRG Elements has to complete the journey to prove the economic viability of the project. The economic viability of the project is no longer uncertain as a good part of the journey is completed. Jurisdiction risks are always present but somewhat less in Niger as they are in the business of uranium already.
Take some time, listen to the episode and use the information as part of your DYOR process.
Chapters
00:00 Start
00:20 Introduction
01:23 About Caroline and ENRG.
02:51 About the Agadez Project.
06:48 Being based in a producing country.
11:08 Is ENRG a critical metal company or an energy company?
13:21 The view on Uranium.
15:51 The future of nuclear power.
18:52 How should investors position themselves?
20:43 How should investors view ENRG?
21:54 The Ghanzi West Copper Project.
23:12 News flow.
23:52 Why EEL?
24:49 Conclusion
About Caroline Keats
Managing Director and CEO
Ms Keats is a focused business leader and corporate executive with twenty years of corporate/commercial experience. She has extensive experience working with assets in foreign jurisdictions, particularly Africa and has successfully liaised with foreign governments to improve understanding about operational and Australian corporate requirements, while facilitating outcomes beneficial to mining projects, local communities and the local economy.
Ms Keats is legally qualified, having commenced her career as a lawyer at Blake Dawson Waldron (now Ashurst) and then at Blakiston & Crabb (now Gilbert & Tobin). She has since worked in senior management and executive roles at Paladin Energy Ltd, Mawson West Ltd, MRX Technologies (a Siemens business) and more recently held the Managing Director role at Tiger Resources Ltd.
About ENRG Elements Limited
ENRG Elements Limited (ASX:EEL) is a company focused on the exploration and development of its uranium and copper projects, commodities that are essential for a carbon-neutral and electric future.
The company holds 100% of the underexplored Agadez Uranium Project located in the Tim Mersoi Basin of Niger, with a JORC Resource of 10.7m pounds of contained eU3O8 at 295ppm (150ppm cut-off grade) from surface to only ~30m depth, with exploration currently underway to advance the project. Agadez hosts similar geology to Orano SA’s Cominak/Somair and Imouraren mines and deposits held by Global Atomic Corporation (TSE:GLO) and GoviEx Uranium (CVE:GXU).
Niger has one of the world’s largest uranium reserves and in 2021 was the seventh‐highest uranium producer globally, with the Tim Mersoi Basin in Niger hosting the highest-grade and tonnage uranium ores in Africa.
ENRG also holds the 100% owned Ghanzi West Copper-Silver Project with a total area of 2,630km2 in the Kalahari Copper Belt of Botswana, one of the most prospective copper belts in the world, which also hosts Sandfire Resources' (ASX:SFR) Motheo Copper Mine and Khoemacau Copper Mining’s Zone 5 underground mine. ENRG believes that the Kalahari Copper Belt has the potential for material discovery, with further exploration underway to advance the project.
Botswana is a stable, pro-mining jurisdiction, supportive of mineral exploration and development. According to the 2020 Fraser Institute Annual Mining Survey, Botswana was ranked 1st for ‘investment attractiveness’ in Africa, in addition to being ranked 11th out of 77 countries globally.
The Company also holds the Horseshoe West Copper-Gold Project with 32.4km2 of tenements surrounding the historic Horseshoe Lights Mine in Western Australia, located 150km north of Meekatharra, as part of the Earn-in and Joint Venture agreement with Horseshoe Metals Ltd (ASX:HOR).
The Directors and management of ENRG have strong complementary experience with over 90 years of Australian and international technical, legal and executive experience in exploration, resource development, mining, legal and resource fields.
Disclaimer
The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer.
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