Elevate Uranium lifts Marenica stake to 90% as Namibia portfolio grows

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Elevate Uranium Ltd ( (AU:EL8) ) has issued an announcement.

Elevate Uranium has increased its ownership of the Marenica Uranium Project in Namibia to 90 percent through two transactions, issuing 4,701,659 shares and paying $1.1 million in cash to acquire an additional 10 percent stake, while extending the closing date for a further 5 percent purchase to 7 August 2026 with settlement expected by mid-August. This consolidation of control over Marenica strengthens the company’s Namibian footprint and enhances the strategic value of its resource base, particularly when combined with the cost- and grade-advantages offered by its U-pgrade process across secondary uranium deposits in both Namibia and Australia.

More about Elevate Uranium Ltd Elevate Uranium Ltd is a uranium exploration and development company focused on projects in Namibia and Australia, underpinned by its proprietary U-pgrade beneficiation process. The company controls a substantial mineral resource base of 181 million pounds of U3O8, including major deposits in Namibia’s Erongo uranium province and multiple high-grade projects and joint ventures in Australia.…Read more by TipRanks Australian Auto-Generated Newsdesk