African Energy from Zambian uranium
By: Mariaan Olivier
Published: 5 Sep 07 - 16:49
Uranium explorer Albidon has finalised a joint-venture agreement with African Energy, covering the Chirundu and Kariba Valley uranium projects in Zambia, the company said on Wednesday.
The Chirundu project included the Njame uranium deposit and the recently discovered Gwabe uranium prospect.
African Energy is exploring for uranium on a number of Albidon’s mineral tenements in Zambia under an exploration cooperation agreement .
Albidon said that African Energy had spend A$1-million on the Chirundu project which earned it an initial equity interest of 30% in the property, with the right to earn up to a 70% stake by completion of a prefeasibility study.
The company informed Albidon in January that it planned to earn equity stakes in the Chirundu and Njame projects.
Source: http://www.miningweekly.co.za/article.php?a_id=116268
Friday, September 7, 2007
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