Everest Metals is set to cash in on the latest boom in uranium prices with plans to vend its assets into new ASX hopeful Cobold Metals. Everest Metals has made a strategic move it believes will supercharge its uranium aspirations in a decision to vend its assets related to the element into an upcoming IPO for Cobold Metals.
While Everest, headed by mining veteran Mark Caruso, will continue its gold and critical mineral pursuits, it will retain a 22.8 per cent interest in Cobold following the IPO. The new company is aiming to be listed on the ASX later this year.
On the back of a recent uranium boom, Everest has inked a term sheet to acquire 100 per cent of the Mukinbudin uranium project (MUP) in Western Australia’s Eastern Wheatbelt from private miner Crucible Resources. It plans to spin out the project into Cobold, in addition to its existing Amadeus […]
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