Global Uranium and Enrichment Ltd (ASX:GUE) has completed a joint venture agreement in collaboration with Snow Lake Resources for the acquisition of the Pine Ridge project, which is located in prime mining territory in Wyoming, and is at an advanced stage of development as an in-situ recovery uranium project.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
Drilling will be an immediate focus for the JV, building on the more than 1,200 holes completed to date at Pine Ridge, which has been found to have over 140 miles of redox fronts.
The goal will be delineation of a significant ISR resource base, keeping in mind the project is located in strong territory – in Wyoming’s Powder River Basin, and surrounded by globally significant projects owned by UEC and Cameco.
In the latter case, Cameco’s Smith Ranch uranium mill is only 15 kilometres from the project, and has a capacity of 5.5 million pounds triuranium octoxide per annum.
The acquisition was made from Stakeholder Energy and involved both Global Uranium and Snow Lake Resources, trading as Snow Lake Energy – the latter a U.S.-based uranium and nuclear energy company listed on the NASDAQ.
More market news
Together: The U.S. has suspended aid to Ukraine. Will Europe step into the breach?
Meet GeoGeorge: The HotCopper poster so accurate he got hired as an analyst
The JV’s management is hoping to leverage its significant experience working with uranium, particularly in this region, with Snow Lake CEO Frank Wheatley joining the Global board as a non-executive director.
GUE has been trading at 7.1 cents.
Join the discussion: See what HotCopper users are saying about Global Uranium and Enrichment and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.