GoviEx Uranium Inc (TSX-V:GXU, OTCQX:GVXXF) is advancing two uranium projects, the Madaouela project in Niger and the Muntanga project in Zambia.
In conversation with Proactive at PDAC 2024, CEO Daniel Major spoke on recent milestones at both projects and its development plans.
Proactive: Give us an update on what's going on with GoviEx Uranium.
DM: We announced the start of the due diligence on the debt to move forward the Madaouela project in Niger. We had interest for over $200 million on the debt. We're pushing forward with the feasibility study and permits. For the Muntanga project in Zambia, we're progressing towards completing our feasibility study by Q3 this year.
What insights can you give about the Muntanga project?
It's a very simple open pit heap leach project with low input costs, low power costs and acid consumption, in a country producing sulfuric acid, which will be low capital. We aim to accelerate its development alongside securing the debt for Madaouela.
What are investors saying about uranium now?
Uranium has seen prices over $100, with current consolidation expected to lead to increases. The market understands the need for new projects due to robust demand growth. Our projects are crucial for filling the demand gap, with interest from utilities in production timelines for offtake agreements.
Any updates on feasibility studies and project development?
We'll keep updating on the Madaouela feasibility study, debt structuring, and progress with Muntanga, which will keep us busy.
Quotes have been edited for clarity and style