Additional Information
Market: ASX
Sector: General Mining - Uranium & Lithium
EPIC: MEY
Latest Price: A$0.01  (8.33% Ascending)
52-week High: A$0.05
52-week Low: A$0.01
Market Cap: A$7.06M
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Marenica Energy
www.marenicaenergy.com.au

Marenica Energy's  (ASX: MEY) strategy is to focus on the evaluation of the Marenica Project as well as to identify and acquire other uranium opportunities globally.

The Company's principal asset is the Marenica Uranium Project located in the uranium rich Damara Province in Namibia. The project covers 527sq km, with high prospectivity for both secondary and primary uranium deposits.

Pdf

Marenica Energy director Gavin Becker tops up shareholding

16th Aug 2011, 2:39 am

Marenica Energy (ASX: MEY) non executive director Gavin Becker acquired 248,125 shares at $0.03 per share on August 10 in an on market purchase.

The shares were purchased indirectly for a consideration of $9189.72 and Becker now holds 450,000 shares and 1.5 million unlisted options at an exercise price of $0.13 due to expire on 31 October, 2013, through the Becker Superannuation Fund.

Marenica's recent reverse circulation in-fill drilling has intersected more high grade mineralisation in the Eastern part of the Marenica Resource that will lead to improvements to the geological and resource model.

By securing $5 million of debt and equity financing from Hanlong, Marenica has  longer-term feasibility and development funding, off-take arrangements and potential cooperation on future strategic acquisitions in the uranium sector up to December 2011.

The current measured, indicated and inferred resource for Marenica is 648 million tonnes at 97ppm for 138 million pounds of uranium.

A scoping study in October last year found that the Marenica Project could deliver 3.5 million pounds of uranium per annum at the highly competitive operating cost of US$38 a pound.

A Definitive Feasibility Study relating to the indicated resources at the Marenica project is expected to be completed by the end of 2012.

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