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- Okapi Resources (OKR) completes the acquisition of 51 per cent interest in the Hansen uranium deposit in Colorado, US
- The purchase has increased Okapi’s mineral resource for the Tallahasse uranium project to 42 million tonnes at 540 parts per million for 49.8 million pounds of uranium oxide
- Following this announcement, the company entered a trading halt ahead of a capital raise
- Company shares will be paused until Thursday, July 14, or when further details on the raise are released to the market
- OKR shares last traded at 18 cents
Okapi Resources (OKR) has completed the acquisition of 51 per cent interest in the Hansen uranium deposit in Colorado, US.
The purchase has increased Okapi’s mineral resource for the Tallahasse uranium project to 42 million tonnes at 540 parts per million for 49.8 million pounds of uranium oxide.
This represents an 81 per cent increase to the size and an increase of 10 per cent to the grade of the existing mineral resource.
Hansen is located near Okapi’s Taylor and Boyer deposits and includes two deposits known as Hansen and Picnic Tree.
“The announcements by the Biden Administration in early June 2022 marks a new beginning for the domestic US uranium industry,” Managing Director Andrew Ferrier said.
“Citing Russia’s ongoing invasion of Ukraine, the Biden Administration is now proposing a plan whereby the Department of Energy is requesting congress for approval to purchase US$4.3 billion (A$6.3 billion) of enriched uranium directly of domestic producers, which is aimed at dramatically reducing America’s dependence on Russian imports of uranium.”
Following this announcement, the company entered a trading halt ahead of a capital raise. It is not known how much the company is aiming to raise or where the funds will be spent.
Under the halt, company shares will be paused until Thursday, July 14, or when further details on the raise are released to the market.
OKR shares last traded at 18 cents.
