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Market:	ASX
Sector:	General Mining
EPIC:	UNX
Latest Price:	0.35 (-1.41% )
52-week High:	0.77
52-week Low:	0.28
Market Cap:	62.53M

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Uranex

Uranex (ASX: UNX) is uranium exploration and development company with a diverse pipeline of projects in Australia and Africa.

The company holds an extensive portfolio of uranium exploration targets in the east African nation of Tanzania, including an initial resource estimate for its Manyoni Project in the Bahi Region of central Tanzania. Uranex’s exploration activities in Tanzania have resulted in the emergence of two separate uranium provinces at Bahi and Mkuju.

Uranex taps $4.7 million capital raising to advance Manyoni uranium project study

Wednesday, June 24, 2009

Uranex (ASX: UNO) has raised $4.7 million via a placement of 11.8 million fully paid shares at 40 cents per share.

Funds raised will be used to advance the Manyoni Pre-Feasibility Study and exploration at the Mkuju Project. This follows positive scoping study results at Manyoni.

Uranex will use the injection of funds to progress "the company to uranium producer" John Cottle Managing Director of Uranex said.

Current Manyoni JORC Inferred Resource stands at 15 million pounds of U3O8 above 100ppm U3O8. Uranex is aiming to be Tanzania’s first uranium producer and has 4 tenements (3 granted and 1 application) covering an area of 4,700km2. The project area is linked by road and rail to the national capital of Dodoma located 70kms to the east.

The Study is scheduled for completion by December 2009.

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