5 stories mentioning ASX:EL8Updated 7d ago
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Elevate Uranium (ASX:EL8) held cash of AU$28.9 million at the end of the June quarter, according to a Wednesday Australian bourse filing.Over the quarter, the company increased its ownership of the Marenica uranium project to 90% while the project's resource increased 31% to 52.8 million pounds of uranium oxide, the filing added.The company's shares rose 1% in recent Wednesday trade.
Elevate Uranium (ASX:EL8) entered into two separate agreements to acquire a further 15% of the Marenica uranium project in Namibia, raising its stake to 90%, according to a Monday Australian bourse filing.The company said it agreed to acquire 15% of the issued capital of Marenica Minerals, which owns the project, from existing shareholders Millenium Minerals and Xanthos Mining. It will pay Xanthos AU$1.1 million in cash and issue AU$2.2 million worth of its shares.The company will also release Millenium from an existing debt of AU$3.4 million arising from Millenium's original acquisition of the 5% stake in Marenica Minerals, per the filing.The company said the agreements are expected to be completed before the end of July, adding that its attributable share of Marenica's mineral resource will increase to 47.5 million pounds of triuranium octoxide.
Elevate Uranium (ASX:EL8) upgraded its total mineral resource estimate for the Marenica project in Namibia to 52.8 million pounds uranium yellowcake at 180 parts per million, according to a Wednesday filing with the Australian bourse.Infill drilling of the areas identified as growth targets in February has added 12.6 million pounds uranium yellowcake to the previous mineral estimate of 40 million pounds at 185 parts per million, the filing said.Shares fell 4% in morning trade Wednesday and earlier hit their lowest since March 2025.
Elevate Uranium (ASX:EL8) said it encountered high-grade uranium mineralization during a recent drilling at its Angela uranium project in the Northern Territory of Australia, according to a Thursday Australian bourse filing.The results were up to 2.3 meters at 508 parts per million uranium oxide, including 0.4 meters at 1,363 parts per million uranium oxide.The program improved the understanding of the seismic to oxidation boundary relationship at Angela, confirming that seismic remains a valid targeting tool and providing a framework for future activities, the filing added.The company's shares fell nearly 5% in recent Thursday trade.
Elevate Uranium (ASX:EL8) reported a maiden inferred mineral resource estimate of 10.1 million pounds of triuranium octoxide at Namib IV, part of its Koppies uranium project in Namibia, according to a Wednesday Australian bourse filing.The company said the addition of the Namib IV resource increases the project's mineral resource base to 76.2 million pounds of triuranium octoxide, with Namibia's in-country mineral resources now totaling 106.4 million pounds across the Erongo Region.Elevate Uranium said its global mineral resources have increased to 163.4 million pounds of uranium oxide.The company's shares fell 2% in recent Wednesday trade.
