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GTI moves on uranium-rich US lands

19 August 2021 11:16
ASX: GTR
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).

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