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Argonaut Resources ( (AU:ORP) ) has provided an announcement.
Orpheus Uranium Limited has acquired two exploration licenses in the Pirie Basin, South Australia, covering approximately 1,100 km². This acquisition, supported by a $1.25 million placement, positions Orpheus as a leading uranium explorer in the region, enhancing its portfolio and strategy to unlock the potential of premier uranium provinces. The transaction includes technical data and an established Native Title Mining Agreement, allowing Orpheus to commence exploration activities. This move is seen as transformative for the company, aligning with the recent rebound in uranium prices and the success of neighboring projects, indicating significant exploration potential.
More about Argonaut Resources
Orpheus Uranium Limited is a company focused on uranium exploration, particularly in South Australia. The company aims to consolidate unexplored extensions of proven uranium districts, leveraging its technical expertise to unlock new discoveries. Orpheus holds exploration ground across three proven uranium provinces, including the Pirie, Frome, and Murray basins.
Technical Sentiment Signal: Buy
Current Market Cap: $5.15M
Learn more about ORP stock on TipRanks’ Stock Analysis page.