March 5, 2024
GoviEx Uranium Inc. (TSXV:GXU, BUY, C$0.80 target, David A. Talbot) announced that the lender due diligence process for the financing of its flagship Madaouela uranium project in Niger has started. The company has expressions of interest for up to US$200M in potential debt financing from several North American, European, and African institutions. The due diligence process is expected to include evaluation of environmental and social risks and ensuring compliance with regulations and international standards to meet lender requirements. We view this as a positive development as successful due diligence review would allow GoviEx access to up to ~60% of the US$347M initial capex required at its Madaouela project. Niger is already a major uranium producer and rising uranium prices and ongoing improvement in Niger’s political situation could lead to additional interest in the project. Read more
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GoviEx Uranium Inc. – TSXV:GXU – 1,2
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