GoviEx Uranium Inc (CVE:GXU) (OTCQB:GVXXF) (FRA:7GU) has welcomed Salma Seetaroo and Eric Krafft to its board of directors, replacing Matthew Lechtzier and the Hon. Robert Hanson, who have retired.
"As we now look forward to a strengthened uranium market and the potential development of our uranium projects, we are very pleased to have Salma and Eric, who have been long acquainted with the company, join our board to complement the existing GoviEx team, bringing with them their particular skillsets and considerable experience in commodities, financing, investment banking and Africa," said Daniel Major, chief executive of GoviEx in a statement.
READ: GoviEx Uranium releases updated pre-feasibility study on Madeouela, highlighting lower costs and financing potential
Executive chairman Govind Friedland noted Lechtzier and Hanson's contribution to the company's growth from an explorer in Niger to now moving towards the development-stage with projects in Niger, Zambia and Mali.
Until 2018, Seetaroo ran Gold and General Limited, an investment holding that controlled Zimbabwe's largest gold producer and led the acquisition and turn-around of a distressed fibre optic business in the Democratic Republic of Congo.
She has spent the last 17 years working on debt, equity and special situations investments in Africa as an investment banker and is the CEO of Ivoirienne de Noix de Cajou S.A, a 9000T cashew processing plant in Côte d'Ivoire, employing over 520 people and supporting 5,000 farmers.
Meanwhile, Krafft is a substantial shareholder in the company and a Swedish private investor with business interests across a number of different industries, including natural resources, which are poised to benefit from the trends of increased electrification, electric mobility and energy storage.
GoviEx aims to become a significant uranium producer through advancing its flagship mine-permitted Madaouela Project in Niger, its mine-permitted Mutanga Project in Zambia, and its multi-element Falea Project in Mali.
Last week, it reported the results from an updated pre-feasibility study (PFS) on its Madaouela project, which reduced capital and operating costs required.
Operating cash costs over the first four years of the mine life were reduced by 20% (or US$4.70 per pound) to US$18.30 per pound of uranium, while capital costs shrank by 8% or US$29 million.
Contact the author at giles@proactiveinvestors.com