Rebranded Uranium American locks into US clean | Australian Markets

Uranium American Resources, previously generally known as Tonogold Resources, has finalised a strategic rebrand by altering its ticker image on the US OTCBB market from TNGL to UARI. The company can also be at the moment settling a deal to buy low-risk United States uranium and vanadium initiatives to finish its transformation into a clean power mineral participant.

And the timing couldn’t be higher as world sentiment for nuclear clean power surges, and the US authorities creates robust tailwinds for the sector.

Backing its new direction, Uranium American has raised US$3.5 million (A$5.4 million) in new capital at 6 cents a share. This provides to the US$4 million that has already been raised over the previous 12 months.

The new funding got here from a single US institutional investor at a vital 75 per cent premium to Uranium American’s present share price of 3.4 cents, demonstrating market confidence within the company’s imaginative and prescient and project execution.

The funds shall be used to finish the acquisition of JAG Minerals US Inc, a wholly owned subsidiary of JAG Minerals Pty Ltd.

Under the phrases of the unique settlement in March final yr, JAG agreed to promote its complete curiosity in JAG Minerals US – which holds the US uranium and vanadium property – to Uranium American for US$8.5 million (A$13 million), cut up between US$6.5 million in Uranium American shares and US$2 million in money.

The deal is anticipated to additional bolster Uranium American’s home uranium footprint. The company has now assembled an enviable portfolio of uranium and vanadium property throughout Utah and Colorado. Both areas are traditionally recognized for his or her wealthy nuclear minerals endowment.

This financing is a key milestone in finishing our JAG transaction, which shall be accomplished very shortly. We are additionally happy to announce our ticker image change. This marks a key development in remodeling the company into a new participant within the uranium and vanadium industry.

The Stateline project is a standout play and is home to a number of historic high-grade uranium and vanadium mines spanning Montrose County, Colorado and San Juan County, Utah. The company will prioritise bringing Stateline back into manufacturing.

The project sits within the prolific La Sal Trend, half of the Canyonlands part of the Colorado Plateau, which hosts mineralisation throughout two distinct saltbush sandstone horizons.

The space consists of six leases containing 19 mines and more than 30 drill holes, with standout grades averaging 1.5 per cent vanadium and more than 2000 elements per million (ppm) uranium. Recent sampling has additionally picked up readings of more than a large 10,000ppm or 10 per cent uranium.

In short, the grounds comprise a geologically wealthy, drill-proven system in a single of the area’s most mineralised corridors.

Additional to Stateline, the company’s new Sky project is a basic roll-front uranium system with severe pedigree. More than 150 drill holes, totalling 39,000 metres had been punched into the ground between the Sixties and Eighties, uncovering a useful resource of 822,000 kilos of uranium at a healthy 1170ppm grade. That was bumped up to a stable a million kilos in 2007, including weight to Sky’s manufacturing potential.

Sky’s north-south trending mineralisation is a textbook Wyoming play and is hosted within two thick sandstone bands sealed by impermeable clay lenses. The geological setup makes it a prime candidate for in-situ restoration, a low-impact mining methodology the place leaching brokers are injected into the orebody and uranium-rich fluids are pumped back to floor. The methodology is prized for its minimal floor disturbance and decrease working prices.

Uranium American’s third acquisition, Marysvale, is a hard-rock uranium and vanadium mine supported by more than 120 historic drill holes and a non-JORC compliant useful resource estimate of 2.9 million kilos of uranium oxide. With previous manufacturing – accessed by Nineteen Fifties adits – of more than 1.35 million kilos of uranium already on the books, Marysvale is one other fast-track contender.

Each project was rigorously acquired during the uranium market’s doldrum years between 2017 and 2020 – a time when few others had been shopping for. The company says that foresight has allowed Uranium American to construct its land bank on a budget, simply as nuclear power begins its resurgence as a viable, carbon-free different.

The yr forward is shaping up to be a huge one for Uranium American because it gears up to remap historic knowledge and nil in on recent drill targets, beginning with the Stateline project. The company goals to construct a JORC-compliant useful resource and fast-track a path to manufacturing.

Conveniently, Stateline sits close to the mothballed West Mesa uranium mill, not too long ago acquired and being refurbished by Energy Fuel Resources. The mill’s revival has opened the door for close by toll remedy, with the new proprietor now actively in search of expressions of curiosity from smaller producers. That means Uranium American may have an splendid processing answer proper on its doorstep.

Looking additional forward, the company has flagged plans to enter offtake negotiations with third events, an important step in securing financing for a potential manufacturing begin in 2028.

Momentum is building on the federal degree. Since the beginning of President Donald Trump’s second time period, US state and federal inside departments have ramped up help for important minerals and strategic metals.

This coverage shift is presumably best exemplified by what has not too long ago occurred to Dateline Resources, a junior chasing uncommon earths in California, whose share price soared as a lot as 3000 per cent after securing a authorities inexperienced mild.

Uranium American can also be contemplating a capital restructure to tighten up its register and considerably cut back the quantity of shares on situation. While not but confirmed, such a transfer sometimes alerts ambitions to uplist to a more liquid exchange, a step that may place the company squarely in entrance of institutional eyes.

With the clean power narrative gathering momentum, Uranium American Resources is urgent fast-forward on a uranium revival, simply because the US strikes to secure a home nuclear fuel provide. With property, funding and timing on its facet, the company appears to be like set to develop into a severe contender in America’s nuclear future. Let the renaissance start.

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