GoviEx Uranium

Primary ticker: TSXV:GXU, OTCQX:GVXXF
Stage of development: Exploration, Development
Primary minerals: Uranium
Project to promote: Muntanga Project
Project location: Zambia
Website: www.goviex.com

GoviEx Uranium is a growing mineral resource company focused on the exploration and development of uranium properties in Africa. With a substantial resource inventory, GoviEx’s main objective is to become a major uranium supplier by exploring and developing its Muntanga Project in Zambia, which is forecast to be in production in this uranium cycle.

Cash: 5.362M (as of Jun 30, 2024)
Debt: NIL

Major shareholders:
Denison Mines 4.00%

Other shareholders 96%

Insiders 11.5%

Financials

Management Profile

Daniel Major, Chief Executive Officer

Daniel Major is a mining engineer from the Camborne School of Mines in the UK. His career spans over 35 years in the mining industry where he has established a solid record of accomplishment initially with Rio Tinto at the Rossing Uranium Mine in Namibia and Amplats in South Africa, and later as a mining analyst with HSBC Plc and JP Morgan Chase & Co. in London. Next, Mr. Major was Chief Executive and later Non-Executive Chairman of Basic Element Mining and Resource Division in Russia, has and held leadership positions at several Canadian listed mining companies with exploration and producing assets in Canada, Russia and South America. Daniel joined GoviEx in 2012, as a director and as CEO, and has been responsible for the transition of the company from explorer to developer.

What is your rationale for taking part in 121 Mining Investment?

By the end of this year, the company will be releasing the results of our Muntanga Project’s feasibility study, a critical step that positions us to commence financing efforts for the construction of our mine. Attending the conference is a key opportunity for us to showcase our project, attract potential partners, and propel the development of our future mine as we move into the next stage of growth.

What recent news would you like to highlight to investors attending?

On September 9, 2024, the Company announced that, as part of its strategy to expand its foothold in the Republic of Zambia, it had secured an option to acquire a 51% interest in the Lundazi exploration license from Stalwart Investments Limited. The Lundazi License covers an area of 817.9km2 which includes formations of the Karoo Supergroup, recognized for its substantial sandstone hosted uranium deposits in Zambia, making it a potentially significant area for uranium exploration activities.

What are your key goals in 3 months, 6 months, 12 months?

3 Months:
Over the next three months, our primary objective is to complete and publish the Feasibility Study for our Muntanga uranium project in Zambia. We are on track to achieve this milestone by the end of the year, which will significantly advance the project and provide a solid foundation for the next stage of our company.

6 Months:
In the following six months, our focus will shift to securing financing for what will become Zambia’s first pure uranium mine. We plan to engage with potential lenders and investors to gauge interest in the project. Concurrently, we aim to finalize the Environmental and Social Impact Assessment (ESIA) and the Resettlement Action Plan (RAP), ensuring that all regulatory and community considerations are addressed.

12 Months:
We anticipate advancing project financing efforts with a view to be in a position to make a production decision, that could see the Muntanga Project potentially commencing production two years after construction commences.

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

As any company within the uranium sector, we are subject to fluctuations in uranium prices. However, forecasts indicate that the uranium market continues to strengthen, as nuclear energy becomes an increasingly significant part of the global clean energy mix. The company conducts thorough risk assessments regularly and proactively work to mitigate potential risks wherever possible.

What do you think makes your company such a compelling investment?

• Strategic Positioning in a Growing Market: We operate within the uranium sector, which is forecast to remain strong as nuclear energy becomes increasingly vital in the global shift towards clean and sustainable energy sources.

• Advanced and Permitted Project: Our Muntanga project in Zambia is fully mine-permitted and 100% owned by us. Being at an advanced stage of development reduces the timeline to production and enhances the project’s attractiveness.

• Supportive Regulatory Environment: The Zambian government is keen on diversifying its mining sector and has shown strong support for uranium mining.

• Experienced Management Team: Our team comprises seasoned professionals with a proven track record in mining exploration, development, and operations.

• Potential for Significant Value Creation: With the combination of a strengthening uranium market, an advanced and fully permitted project, and a clear path to production financing, there is substantial potential for value appreciation as we move towards becoming Zambia’s first uranium mine.

What are the top 3 key investor takeaways?

1. On track to complete Feasibility Study in 2024

2. On target to start uranium production within two years of securing financing.

3. Uranium market strengthening as nuclear demand grows and supply constraints continue.