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Southstone Minerals ( (TSE:SML) ) has issued an announcement.
Southstone Minerals Limited has announced a strategic move to diversify its operations by acquiring Afrium Energy Pte. Ltd., which holds uranium prospecting licenses in Botswana. This acquisition aims to reduce Southstone’s reliance on its South African operations and capitalize on the growing global demand for nuclear energy. The deal involves a complex equity transaction where Afrium shareholders will obtain a significant stake in Southstone, and the company plans to raise additional capital to support its existing diamond mining operations. This strategic diversification is expected to enhance shareholder value by expanding Southstone’s asset portfolio and positioning it for future growth in both the diamond and uranium sectors.
More about Southstone Minerals
Southstone Minerals Limited is a company in the mining industry, primarily focused on diamond mining operations. The company is working on the development of the Oena Diamond Mine and is now diversifying its operations by entering the uranium market, specifically with projects in Botswana.
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: C$334K
Find detailed analytics on SML stock on TipRanks’ Stock Analysis page.