Laramide pursues Kazakh uranium exploration opportunity
Dual-listed Laramide Resources is pursuing a greenfield uranium exploration opportunity in Kazakhstan, announcing a three-year option agreement with a company that has a 6 000 km2 land position in the Chu-Sarysu basin.
The option agreement is with Kazakh company Aral Resource, which has secured 17 mineral licences and has five licence approvals pending.
“The opportunity to explore in one of the world’s most prolific and prospective uranium basins appears to us to be a very compelling and overlooked opportunity,” says Laramide president and CEO Marc Henderson.
“In spite of its proximity to world class ore bodies like Inkai and Budenovskoye, the large area represented in this option has had very limited exploration in the post-Soviet era, and with Kazakhstan now actively encouraging foreign investment, we have secured an early advantage and are looking forward to getting started.”
Under the terms of the option agreement, Laramide has the right to acquire all outstanding shares of Aral at any time during the option period, thereby obtaining full ownership of the Chu-Sarysu project.
Throughout the option period, Laramide will serve as the exclusive operator, assuming responsibility for all operational and exploration expenses.
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