- Kopore Metals (KMT) will acquire historical mining information from Paladin Energy (PDN) for the Agadez uranium project in Niger, after the companies entered an agreement
- Paladin previously owned the project where it completed a drilling program in 2011 for a total of 12,000 metres
- The company said acquiring the historical information from Paladin will allow it to plan future work for the project at lower costs
- KMT entered into a binding share sale agreement last December with Endeavour Financial to acquire 100 per cent of the project
- KMT shares are trading flat at 2.8 cents, while PDN shares are trading 5.75 per cent lower at 82 cents each
Kopore Metals (KMT) will acquire historical mining information from Paladin Energy (PDN) for the Agadez uranium project in Niger after the companies entered an agreement.
KMT entered into a binding share sale agreement last December with Endeavour Financial to acquire 100 per cent of the project.
The project has land of 726 square kilometres over three tenements in the uranium-rich Tim Mersoi basin.
Paladin previously owned the project where it completed a drilling program in 2011 for a total of 12,000 metres. Paladin abandoned all rights to the permits in 2016 and has no ongoing interest in the Agadez project.
Kopore Managing Director Caroline Keats said acquiring the historical information from Paladin’s drilling is extremely valuable.
“This data, which includes geological and geophysical information, surveys, photographs, drill logs and assay results will enable the company to not only validate the historically reported information but inform the forward work programs without the significant expense and delay for the Company to have to re-do a number of the exploration programs,” she said.
“The receipt of this historical information is very timely, as we are looking to finalise the acquisition of the Agadez Project following Shareholder approval on 4 March 2022.”
KMT shares were trading flat at 2.8 cents, while PDN shares were trading 5.75 per cent lower at 82 cents each at 11:45 am AEDT.