Company
ASX:CXU
Cauldron Energy Ltd (ASX:CXU) has a diversified portfolio of projects in Australia and has already achieved exploration success at its Yanrey Uranium Project with a defined uranium resource.
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Shareholder approval was gained at the company’s AGM with shareholders resolving to approve the issue of the Initial Payment Shares, SPA Tranche 1 Shares and SPA Tranche 2 Shares to the vendors.
The acquisition provides the potential to tap into the international sand market projected to be worth US$60 billion per annum by 2030.
COVID-19 downtime in Victoria has been utilised to complete data compilation and drill planning while the required environmental and hydro-geochemical study has been completed.
The company is planning to systematically explore the Victorian project where around 220,000 ounces of gold has been mined historically.
The company is planning to systematically explore the Victorian project where around 220,000 ounces of gold has been mined historically.
A review has revealed near-surface bonanza-grade gold mineralisation occurring at Rogers Big Hill and projecting to depth.
A review has revealed near-surface bonanza-grade gold mineralisation occurring at Rogers Big Hill and projecting to depth.
Compilation and review of comprehensive recent and historical mining and exploration data paint a picture for a potential re-start.
The Federal Government’s JMEI scheme encourages investment in exploration companies undertaking greenfields mineral exploration in Australia.
Cauldron completed acquisition-related due diligence on two gold projects in Victoria in December 2019.
Funds will be used in the acquisition of interests in the Blackwood Gold Project and the Bullarto South Gold Project in Victoria.
The company is planning to commence on-the-ground work programs in the new calendar year.
The company has executed a Heads of Agreement to acquire a majority interest in most of the highly prospective Blackwood Goldfield.
The halt will remain until the start of trading on Friday, September 29, or when an announcement is released.
Youds was previously the company's manager of operations from June 2012 until February 2016.
As well as uranium, the reinvigorated company has its sights set on battery metals and other energy metals commodities.
A comprehensive exploration program will commence upon transaction completion.
The Yanrey area is prospective for large sedimentary-hosted uranium deposits.
Cauldron owns the Yanrey Uranium Project, 85 kilometres south of Onslow in Western Australia.
The company has uranium prospects in Western Australia and Argentina.
