Elevate Uranium Boosts Resource Base to 169 Mlb with Napperby Acquisition

Core Lithium Ltd ( (AU:CXO) ) just unveiled an announcement.

Elevate Uranium has completed the acquisition of Uranium Generation Pty Ltd from Core Lithium, securing a portfolio of uranium assets in Australia’s Northern Territory and South Australia and lifting its global mineral resource inventory to 169 million pounds of U3O8. The deal delivers the Napperby project, which hosts an 8.03 million pound JORC 2012-compliant uranium resource just 25 kilometres from Elevate’s Minerva project, as well as the high‑grade Fitton and Entia exploration projects and four additional tenements, all regarded by the company as underexplored with significant upside. Elevate sees strong technical synergy between Napperby’s shallow, calcrete-hosted mineralisation and its U‑pgade™ process, supported by prior metallurgical test work suggesting the potential to produce a low‑mass, high‑grade concentrate, and argues that the transaction consolidates its Central Australian hub and strengthens its position as a leading ASX‑listed uranium developer in supportive jurisdictions.

The most recent analyst rating on (AU:CXO) stock is a Hold with a A$0.20 price target. To see the full list of analyst forecasts on Core Lithium Ltd stock, see the AU:CXO Stock Forecast page.

More about Core Lithium Ltd

Elevate Uranium Ltd is an ASX- and OTCQX-listed uranium developer focused on consolidating and advancing uranium resources in proven mining jurisdictions, with a particular emphasis on Central Australia and Namibia. The company leverages its proprietary U-pgrade™ beneficiation technology to enhance the value of shallow, calcrete- and palaeochannel-hosted uranium deposits, aiming to build a diversified global portfolio of cost-competitive uranium projects.

Average Trading Volume: 23,847,755

Technical Sentiment Signal: Hold

Current Market Cap: A$665.1M

See more data about CXO stock on TipRanks’ Stock Analysis page.