Marmota backs its uranium play with new acquisition

Marmota backs its uranium play with new acquisition

Marmota Ltd ( ASX:MEU ) has gone back to its uranium roots with the acquisition of the Junction Dam uranium tenement EL360 in South Australia.

This tenement is immediately adjacent to $550 million capped Boss Energy’s Honeymoon tenement, which hosts the Honeymoon in-situ recovery (ISR) uranium mine.

The tenement was previously owned collectively by Teck Australia Pty Ltd, Eaglehawk Geological Consulting Pty Ltd and Variscan Mines Ltd ( ASX:VAR ) and MEU has granted a 5% net profits royalty on production from a future Uranium mine to the previous owners.

Ministerial consent to this transfer has already been granted.In recent months, MEU has been focused on bringing its Aurora Tank gold discovery in South Australia to production. However, the company never lost focus on its uranium strategy and today’s acquisition puts it firmly back in the uranium conversation at a time of increasing uranium prices and more positive sentiment. Strategic uranium acquisition […]

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