Jane Morgan Management
- The Company has completed the acquisition of Australian uranium resources from Optimal Mining Limited
- The Company's uranium resources increase by 100%
- The acquisition adds 48 million pounds of high-grade resources, averaging 859 ppm U3O8
- The uranium resources are expected to be amenable to Marenica's U-pgrade™ beneficiation process
- The acquisition follows the Company's strategy of building a diverse asset base, with a pipeline of projects at various stages in the development cycle
Marenica Energy Limited ("Marenica", the "Company") (ASX:MEY) is pleased to announce that it has completed the acquisition of Australian uranium tenements from Optimal Mining Limited ("Optimal") ("Acquisition Assets"), increasing Marenica's uranium resources by 100%, being 48 million pounds of high-grade resources at an average grade of 859 ppm U3O8.
The high-grade resources are contained within the Angela, Thatcher Soak and Oobagooma projects,
and joint venture holdings in the Bigrlyi, Malawiri, Walbiri and Areva joint ventures in Australia.
The Acquisition Assets adds to Marenica's existing 61Mlb uranium resource at the Marenica Uranium
Project (75% owned) in Namibia and compliments its large tenement holding of 4,527 square kilometres
strategically acquired in Namibia over the last 18 months.
Marenica Managing Director, Murray Hill,
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