Global Uranium offloads gold project to Koonenberry

Global Uranium Koonenberry Gold Enmore Gold Project M&A

WRITTEN BY Aaliyah Rogan

Global Uranium and Enrichment (ASX:GUE) has entered into a binding sale and purchase agreement with Koonenberry Gold (ASX:KNB) for the sale of the Enmore Gold Project in New South Wales , Australia.

The Enmore Project is located in the New England Fold Belt, 20km from the 1.7-million-ounce Hillgrove Gold-Antimony Mine.Under the agreement, Koonenberry will issue 35 million shares to Global Uranium and is also required to conduct a $2 million capital raising and secure shareholder approval in November 2024.Global Uranium, which has a market capitalisation of $21.25 million, says the proposed sale of Enmore aligns with its commitment to deliver its growth strategy in developing its North American uranium portfolio.The sale also provides Global Uranium with exposure to a broader portfolio of gold assets. By retaining an equity position in Koonenberry, the company is positioning itself […]

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