Askari secures A$850 000 funding package to advance its Tanzanian uranium strategy
Southern African exploration company Askari Metals has secured an A$850 000 funding package, comprised of redeemable notes with professional and sophisticated investors, to "aggressively pursue" its Tanzanian uranium investment strategy.
This follows the company's recent acquisition of the Matemanga project, in Tanzania.
"At the same time, the Company is continuing with its low-cost, high-impact exploration campaigns at the Uis lithium project, [in Namibia], having identified further high-grade targets," says Askari MD Gino D'Anna.
Askari is actively exploring and developing its Uis lithium project – 2.5 km from Andrada Mining's operating Uis tin/tantalum/lithium mine and about 230 km from the deep-water port of Walvis Bay.
The ASX-listed company acquired the Matemanga project in February.
In an update to shareholders, in April, Askari said it would execute multiple exploration streams across Namibia and Tanzania, with the Uis and Matemanga projects being a key part of its overall strategic focus on the clean energy market.
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