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T92 - Terra Uranium

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Terra Uranium Limited (T92) is a mineral exploration company which was formed for the purpose of exploring and developing a portfolio of high-quality market sustaining uranium assets with a primary focus on Canada’s premier Athabasca Basin. Canada is a politically stable jurisdiction with established access to global markets.

The Company holds a 100% interest in 17 Claims forming the HawkRock Project, the Parker Lake Project and the Pasfield Lake Project (together, the Projects), located on the eastern side of the Athabasca Basin, north-eastern Saskatchewan, Canada, approximately 50 km to the west of multiple operating large uranium mills, mines and known deposits.

Since incorporation, the Company has focused on:

(a) undertaking pre-listing activities and the PreIPO Placement;
(b) assembling a highly skilled and experienced geoscience and execution management team;
(c) undertaking a project generation and acquisition targeting exercise focused on the eastern side of the Athabasca Basin;
(d) staking and procuring grant of the Claims forming the Projects;
(e) defining the initial exploration programs for the Projects; and
(f) obtaining initial activity approval (including a crown land work authorisation permit to carry out helicopter supported ground prospecting, rock sampling and ground truthing) from the provincial government, following consultation with indigenous communities and the provincial government.

It is anticipated that T92 will list on the ASX during September 2022.

 
Listing date07 September 2022 ; 11:00 AM AEST ##
Company contact details Ph: +61 3 8678 4090
Principal ActivitiesMineral exploration and mining
GICS industry groupTBA
Issue Price$0.20
Issue TypeOrdinary Fully Paid Shares
Security codeT92
Capital to be Raised$7,500,000
Expected offer close date25/08/2022
UnderwriterNot underwritten. Peak Asset Management Pty Ltd (Lead Manager).
 
October comp entry ?

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Up 35% since the idea.
Chart looking like it might run further, after pull back or inside day, as named by others.

Will keep looking for a different comp choice, but may settle on this.

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the announcement wasn't ! Market Sensitive but could have been

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up 50 per cent to 20c, as high as 22.5c earlier in the day.
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up 30 per cent ... to 12c
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Stunning High Grade Uranium Rock-Chip Results at Amer Lake

Highlights
• Terra Uranium has now received assay results from sampling during the recent field visit to the Amer Lake project on 27 June 2024.
• Surface Boulder sample in the Horned Lake area sample assayed 7,950 ppm U (0.94% U3O8).
• A 2nd sample in the Main Zone resource area returned high grade mineralisation with an assay of 1,510 ppm U (0.18% U3O8).
• Due to the strong results, the company is looking forward to undertaking an extensive follow up field program, including soils and rocks, leading to drilling.
• The company is also pleased to report that Assessment reporting is now complete and submitted to the Nunavut Mining Recorder for processing which is anticipated to extend the mineral claims expiry by at least 5 – 7 years. Extension of the mineral claims is required by Terra Uranium as a condition to closing under the Amer Lake acquisition agreement.
• The Amer Lake claims contain a foreign non-JORC compliant resource estimate of 17,827,000 tonnes averaging 380 ppm U3O8, containing 15.3 million pounds U3O8 using a cut-off grade of 100ppm, reported in 2012 under with the Canadian National Instrument (NI) 43-101*.
• The mineralisation at Amer Lake is of the sandstone-hosted type, similar to large, near-surface deposits in the USA, Central Asia, Australia and Africa amenable to bulk mining.
 
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