GTI Resources Ltd will explore a leading uranium province in Wyoming after gaining 8900 hectares of land in the Great Divide Basin, regarded as one of the top low-cost production destinations in the US.
The acquisition of Branka Minerals Pty Ltd and its strategically located and under-explored leases across the basin and Colorado’s Uravan Belt will give the Western Australian-owned company prominence in the territory well-suited to the highly economical in situ resource extraction method.
Additionally, GTI is confident its properties near UR Energy and Rio Tinto’s low-cost facilities will leave the locally experienced explorer well-positioned to supply economically produced uranium to expanding US and Chinese markets.
A $2.6 million share placement at 1.5c per share is currently underway, with shareholders offered a one for eight non-renounceable rights entitlement offer of up to an additional $1.461m
The company’s Australian Stock Exchange-listed shares opened today at 1.9c (8.00 am GMT +8 hours).