Global Uranium sells gold project to Koonenberry
ASX-listed Global Uranium and Enrichment has announced the sale of its Enmore gold project, in New South Wales, Australia, in line with its growth strategy focusing on its North American uranium portfolio.
The company will sell the proejct to fellow-listed Koonenberry Gold for 35-million shares.
By retaining an equity position in Koonenberry, the company is positioning itself to benefit from the continued development of both the Enmore project and Koonenberry’s other portfolio of assets.
"This deal not only creates value for both parties, but also enables Global Uranium to maintain a strategic focus on advancing our core uranium assets in North America, which have experienced significant and rapid progress over the past year," MD Andrew Ferrier said.
Besides Enmore in the New England Fold Belt, Koonenberry also acquired the Lachlan project, in the Lachlan Fold Belt, from Gilmore Metals.
Together, these acquisitions transform Koonenberry by creating a New South Wales-focused explorer with one of the most significant portoflios in the state with land holdings of 4 410 km2.
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