GoviEx Uranium pushing forward with Muntanga Project in Zambia
London, UK
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September 05, 2023 10:51 AM Eastern Daylight Time
GoviEx Uranium Inc (TSX-V:GXU, OTCQX:GVXXF) CEO Daniel Major speaks to Thomas Warner from Proactive after the Africa-focused mineral resource company announced it has filed a technical report on its updated mineral resource estimate on the Muntanga Uranium Project in Zambia which was released on July 17.
Major explains that the technical report revealed significant progress, with a shift from inferred to indicated resources, increasing the total resource by 18%. The ongoing metallurgical tests and environmental and social impact assessments are also promising and he states that the goal is to complete the feasibility study by the next summer.
GoviEx has two key projects, with Madaouela in Niger and Muntanga in Zambia expected to ultimately produce approximately 2.5 million pounds of uranium per annum each. Madaouela is more advanced and can potentially operate for over two decades, but its development is on hold owing to political unrest. Muntanga's development is behind that of Madouela but offers a lengthy mine life and substantial exploration potential.
Daniel Major also touched on the bullish outlook for the uranium market. Supply deficits and challenges in ramping up production suggest higher uranium prices in future. GoviEx's Muntanga Project, even based on outdated parameters, presents an attractive opportunity given the current market dynamics.
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