GoviEx Uranium Inc (TSX-V:GXU, OTCQX:GVXXF) reported that Niger’s Mines Minister Commissaire Colonel Ousmane Abarchi and distinguished local leaders including the Governor of the Agadez Region have visited its Madaouela uranium project.
The uranium-focused exploration and development company said the visit took place on May 4 and forms part of a broader inspection of significant exploration and mining projects within the northern Agadez Region of Niger.
During the visit, the Minister and accompanying delegation reviewed the ongoing ground works, assessed the current mine plans, and explored the company’s various Corporate Social Responsibility initiatives, which support local communities and promote socio-economic development in the region.
The visit comes as the company is engaged in discussions with the Niger government about the mining permit for the Madaouela project.
Last month, the company told investors that it had received notice it must start mining at its Madaouela uranium project by July 3, 2024, and, if it fails to start mining by that date, there is a risk its mining permit may be revoked.
“While the results of GoviE'x discussions with the government in relation to the formal notice to commence exploitation works at the project remain unclear, GoviEx is confident that its discussions with the Mines Minister, notably in the context of the visit, demonstrated the company's commitment to work with the Nigerien government towards a mutually beneficial solution that complies with applicable law and protects its rights,” the company said in a statement.
“The company is committed to keeping the market informed and will provide updates as soon as more information becomes available.”
Shares of GoviEx traded higher on the news, up 29.4% at C$0.11 afterhours on Tuesday.
GoviEx is focused on the exploration and development of uranium properties in Africa, namely the Madaouela project in Niger and the Muntanga project in Zambia.