Moab Minerals has announced its intention to acquire an 81.85% majority interest in Linx Resources, with large-scale uranium potential. This agreement will give Moab access to a diverse selection of advanced, large-scale projects located in Tanzania.
The company has focused on the Manyoni and Octavo projects as the centerpieces of this acquisition. Taking advantage of these key geographical positions, such as Manyoni , which is located 5 km north of Manyoni, while Octavo is located adjacent to the renowned Nyota uranium deposit operated by Rosatom, the two projects extend over a combined area of 216 km².
The Manyoni project and uranium on a large scale
Moab’s growth strategy is palpable, evidencing a solid commitment on the part of the company to drive exploration and development operations on these lands, in the large-scale uranium large-scale uranium mining.
Backed by a robust financial position, with reserves of nearly $3.2 million (equivalent to A$4.84 million) in cash and liquid assets, Moab is well positioned to undertake necessary exploration and development initiatives in the region.
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Source: Mining Technology
Photo: Shutterstock
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