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GTI moves on uranium-rich US lands

19 August 2021
ASX: GTR
Rueben Hale
Uranium

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).

COMPANY OVERVIEW

Focussed on exploring for, defining and developing economic ISR Uranium resources – GTI Resources is part of Wyoming’s Insitu Recovery (ISR) uranium mining renaissance. GTI saw US uranium supply’s collapse and anticipated the coming surge in demand for uranium as a core component of America’s drive for homegrown, sustainable clean energy solutions. This led us to position GTI to be part of the resurgence in demand for uranium using the lowest-cost and cleanest method of mining uranium, ISR. Providing corporate transparency, GTI has also adopted the internationally recognised Environmental, Social and Governance SCM Framework created by the World Economic Forum (WEF), where all progress is measured against these core metrics and included in GTI’s annual report on the ASX. The key driver of value creation for GTI is making economic uranium discoveries. GTI’s ISR uranium projects in Wyoming position us to define uranium resources that can potentially be developed quickly & cost effectively with a low environmental impact.

COMPANY INFORMATION

ASX: GTR

Website

https://www2.asx.com.au/markets/company/gtr

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