News & Analysis

Uranium Resources plc (URA: AIM) review and analysis

By PSQ Analytics

Uranium Resources plc (URA) is an exploration and development company focused on acquiring and developing resources within intermediate-term development cycles. Principally, the company seeks to broaden its uranium-focused project portfolio in Tanzania. The company seeks to increase its acreage, acquire precious metals projects and use its expertise to build a multi-commodity portfolio.

- Core Team: Uranium Resources has assembled a core team with a strong track record in resource project evaluation, development, management and financing.

- Projects: Currently, Uranium Resources is involved in multiple development projects in Tanzania. The company is evaluating a number of other projects in Tanzania as well as in other jurisdictions that fit its investment criteria.

- Licenses: Along with development partners, Uranium Resources holds uranium licenses for a net 12,700 sq. km. in what it regards as the highly prospective Karoo Basin in Southern Tanzania.

Key recent news

24 December 2009: URA announced that it had conditionally raised approximately GBP2 mn by way of placing 104.0 million new ordinary shares to Estes Capital, a new strategic investor, at a price of 1.92p per placing share. Proceeds will be used to complete buyout of IDG’s interest, for exploration and for working capital.

30 October 2009: Reached agreement with Tanzanian JV partner Indago Resources Ltd. and its group companies to acquire Indago’s interest in the Karoo Basin project. Agreement is conditional on Uranium Resources raising cash and issuing new shares by late December 2009.