logo-loader
viewEve Investments Ltd

Energy Ventures to progress US uranium assessment following $1.6 million raising

no_picture_pai.jpg

Energy Ventures (ASX: EVE) has completed a $1.6 million non-renounceable rights issue, with funds to go towards the ongoing technical assessment of the company’s Aurora uranium deposit in Oregon, U.S.

The raising, which was underwritten up to $750,000, closed on March 7.

In January, Energy Ventures released the initial metallurgical results for the Aurora project, showing the potential for efficient removal of internal waste through scrubbing and screening, with minimal uranium loss.

This allows for the mineralisation to be bulk mined and upgraded prior to leaching.

Aurora hosts a near surface, flat lying zone of mineralisation, amenable to open pit mining, with a JORC Resource of 38 million pounds of uranium equivalent.

The rights issue offered one new share for every seven and a half shares held, at a price of $0.035 each.

Of the 45 million shares on offer, 36.6 million were taken up for consideration of about $1.28 million. The remaining 8.5 million shares have been placed to clients of underwriter Blackswan Equities.

Quick facts: Eve Investments Ltd

Price: 0.0065 AUD

ASX:EVE
Market: ASX
Market Cap: $16.59 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Bull, Bears & Brokers: Shaw and Partner’s Davide Bosio talks about market...

Shaw and Partners WA state manager Davide Bosio updates Proactive on how share prices plunged this week, with stock market jitters in light of the coronavirus scare. Bosio gives his advice on how investors can protect their portfolios and takes a look at solid investment options during times...

4 hours, 47 minutes ago

2 min read