March Quarterly Activities and Cashflow Reports

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  • Retention Licence 1693 extended for two years plus two additional Exploration Licences awarded in January 2021
  • Updated Makuutu Mineral Resource Estimate (MRE) of 315 Mt @ 650 ppm using a cut-off grade of 200 ppm TREO-CeO2, achieving 210% increase in contained TREO
  • Updated Exploration Target at Makuutu including highly prospective Exploration Licence EL00147
  • Received first stage approval from Uganda’s National Environmental Management Authority
  • Phase 3 Rotary Air Blast drilling program drill underway
  • Commenced Environmental and Social Impact Assessment and enhanced Stakeholder Engagement Program
  • Commenced Phase 2 metallurgical program and heap leach testwork to support Makuutu BFS
  • Commenced activity in the marketing of scandium by-product from Makuutu
  • $12 million Placement completed to fund Makuutu drilling, studies and an updated mineral resource estimate.

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