Shares of GoviEx Uranium Inc (TSX-V:GXU, OTCQX:GVXXF) were up around 8% to start the trading week in Canada after the company offered a positive outlook to advance its Muntanga project in 2025.
In the letter, executive chair Govind Friedland called 2024 “a year to refocus” as it started to prioritize work on the Zambian uranium property, which Friedland called “a critical part of our portfolio.”
Investors can look ahead to a feasibility study for Muntanga, in the works after metallurgical test work in 2024 confirmed uranium recoveries of 90% or better, along with favourable operational metrics such as low acid consumption.
The company is refining its focus on strategic projects, citing its recent option to explore Zambia's Lundazi license as a step to expand its presence in a mining-friendly region and complement its work at Muntanga.
GoviEx has initiated arbitration to safeguard its rights over the Madaouela project in Niger while remaining open to resolving the dispute through constructive dialogue with the State.
GoviEx has gained 30% year to date, trading at around $0.07 on the TSX Venture Exchange.