Moab Managing Director, Malcolm Day commented “The completion of the acquisition of such high potential uranium projects is transformational for the Company. The fact that Uranex Ltd previously explored, and extensively drilled, the Manyoni Uranium Project from the early 2000’s to 2013 assists the Company greatly. There is a large volume of historic exploration data, including drilling data, that the Company has access to that will effectively save the Company a lot of time and money. The Fukushima disaster in 2011 had a dramatic impact on the uranium price, and thus most pre-production uranium projects worldwide were shelved. Given the current uranium price of circa US$85/lb, Moab is in the right place at the right time to re-evaluate the Manyoni Uranium Project and to commence exploration on the Octavo Uranium Project”.
The Manyoni and Octavo Uranium Projects
The Manyoni Uranium Project tenements are located in the Republic of Tanzania (pop. 65 million), approximately 100km northwest of the capital city of Dodoma (pop. 765,000). The location of the uranium project at Manyoni is shown in Figure 1 and Figure 2 and the location of the Octavo uranium project is shown in Figure 1 and Figure 3.
Tenement Information
The Manyoni and Octavo tenements are Prospecting Licences that are granted for an initial period of 4 years, renewable for further periods of 3 years and then 2 years.
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