CEO, Daniel Major of GoviEx Uranium (GXU:TSX.V), discusses the mining projects this company has developed and their future plans.
GoviEx is a uranium development company, it has three major projects. From a development point of view, we have two mining projects that are fully permitted, one in Niger, which is a £110 million fully permitted, ready to go, subject to financing. In Zambia, we have a fully permitted mine called Mutanga, and in Mali, we have an advanced exploration project where all the technical work has already been done.
We’ve done a lot of the hard work already on these projects, so expenditure levels are pretty low. What we are doing is advancing piecemeal through these next stages to keep the projects ready so that when we believe the market turns, then we’re ready to be in production, targeting 2020 for our production date subject to the market.
If you look at peers in the space, that makes us one of the largest resource holders of any of the development exploration and/or production companies. We did a financing at the beginning of the year, so we’re all set for another year. That was part of our transaction with Denison where Denison became a major shareholder, 25 percent shareholder. And that was a merger that brought in a number of those assets in Africa.
We have over 200 million pounds of uranium in total resource, over three projects that puts us in the top five of total resource available of any of the producers and/or developers.