GoviEx Uranium (TSE:GXU) has released an update.
GoviEx Uranium Inc. has been stripped of its Madaouela mining rights by the Niger government, a move it may challenge legally, disrupting a project that was set to create 800 jobs and stimulate economic growth with substantial royalty and tax contributions. The company has a history of extensive drilling in Niger since 2007, identifying one of the largest known uranium resources, and has been advancing the project through various stages, including securing over USD 200 million in funding expressions and starting preliminary groundworks. Despite the setback in Niger, GoviEx continues to progress with its Muntanga project in Zambia, with a feasibility study expected later in 2024.
For further insights into TSE:GXU stock, check out TipRanks’ Stock Analysis page.
