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Delecta Limited ( (AU:MOM) ) has provided an announcement.
Delecta Limited reported that Moab Minerals has terminated its planned acquisition of the Sasare copper-gold project in Zambia after due diligence conditions were not satisfied, and will instead refocus its exploration and development efforts on the Manyoni Uranium Project in Tanzania. The Manyoni project has recently seen its mineral resource updated to JORC 2012 standards, with a 25% increase in contained uranium to 27.19 million pounds, supported by favourable geology for potentially low-cost mining and the planned consolidation of adjoining uranium tenements from AuKing Ltd via an all-share transaction under six-month escrow. Leveraging strong uranium spot prices, the company plans mineralogy and broader metallurgical test work this quarter to define an appropriate beneficiation pathway, followed by a scoping study expected in the June quarter, signalling a strategic shift toward fast-tracking development options at Manyoni and strengthening its positioning in the uranium sector.
The most recent analyst rating on (AU:MOM) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Delecta Limited stock, see the AU:MOM Stock Forecast page.
More about Delecta Limited
Delecta Limited, through its interest in Moab Minerals, is focused on mineral exploration and development, with a particular emphasis on uranium assets in Tanzania. The company is positioning itself within the energy-related resources sector, seeking to capitalise on favourable uranium market dynamics through the advancement and consolidation of its Manyoni Uranium Project.
Current Market Cap: A$4.03M
For detailed information about MOM stock, go to TipRanks’ Stock Analysis page.