- GoviEx Uranium is progressing at its Madaouela Uranium Project after the appointment of SGS Bateman to begin front-end engineering designs
- The project is also progressing with the initial groundwork, which includes constructing an access road, followed by site clearance and terracing as well as initial civil engineering construction
- The Madaouela Project has an anticipated capital expenditure of US$343 million and is expected to generate employment opportunities in Niger
- Shares of GoviEX Uranium are down 12.09 per cent to C$0.14 as of 12:29 pm ET.
GoviEx Uranium (TSXV:GXU) has revealed progress at its Madaouela Uranium project in Niger.
The company stated in a news release it has moved forward with initial ground works, including constructing an access road, which will be followed by comprehensive site clearance and terracing and initial civil engineering construction.
Progress at the project comes after the company’s appointment of SGS Batemen to begin front-end engineering designs at Madaouela.
“Whilst we continue to monitor the current political situation in Niger, I am really pleased to start the development of front-end engineering designs as well as the initial ground works at Madaouela,” Daniel Major, CEO of GoviEX Uranium, said in a statement. “This project is more than an investment in uranium; it’s an investment in the future of Niger. With two projects in development, we are uniquely positioned to benefit from the current uranium market.”
It is estimated that the Madaouela Project will have an anticipated initial capital expenditure of US$343 million and will generate employment opportunities in Niger with more than 800 jobs throughout its 20-year mine life.
With its headquarters out of Vancouver, GoviEx Uranium has assets in Niger and Zambia with a continued commitment to developing both projects.
Notably, the Madaouela Project holds one of the largest uranium resources amongst its peers, with 96.9 million pounds of uranium ore concentrate in measured and indicated mineral resources, plus inferred resources of 19.6 million pounds of uranium ore concentrate.
Shares of GoviEX Uranium are down 12.09 per cent to C$0.14 as of 12:29 pm ET.
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