GoviEx Uranium Inc (TSX-V:GXU, OTCQX:GVXXF) said it is in an advantageous position to meet the growing demand for uranium amid increasing recognition that nuclear energy is a key part of the solution to achieve net zero.
In a letter to shareholders, GoviEx's CEO Daniel Major and executive chairman Govind Friedland told investors that increased demand for uranium is not being met due to a lack of new entrants in the industry, harder permitting environments, the depletion of secondary supply, geo-political tensions and a demand for security of supply and diversification from off-takers.
“This puts us in an advantageous position, as we are fully permitted, operating in mining-friendly jurisdictions, with a multi-project pipeline and with production scheduled to start when there is an expected supply deficit in the market,” they wrote.
READ: GoviEx enters deal to sell its Falea project in Mali as it focuses on advanced mine-permitted projects
Major and Friedland also highlighted significant milestones achieved by the company during 2022, including the publication of a feasibility study for its Madaouela project in Niger, fieldwork that included infill drilling at its Muntanga project in Zambia, diamond drilling at its Falea project in Mali, and the publication of the company’s first environmental, social and governance report.
“We have delineated a clear strategy focused on the financing of the Madaouela project, continued discussions with off-takers and advanced towards becoming a producer while continuing to develop Muntanga and benefiting from the potential exploration upside at Falea,” they wrote.
GoviEx is a mineral resource company focused on the exploration and development of uranium properties in Africa.
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