17 Mar 2017 -
Estes Loans Extended
Uranium Resources plc ('URA') is an AIM-listed exploration and development company focused on acquiring and advancing its uranium assets in Tanzania. URA is actively developing its Mtonya flagship project in southwestern Tanzania - a predictive discovery in Karoo sandstone of the Luwegu Rift.
URA's Mtonya discovery indicates the vast uranium potential of the Luwegu Rift Basin where numerous roll-front uranium deposits are yet to be discovered. Uranium deposits in Tanzanian Karoo basins are thought to be amenable to in-situ recovery (ISR). The Company targets ISR uranium development because such deposits have the most favorable combination of capital expenditure, operating cost, development timeframe, and environmental footprint.
The Company has assembled a core team with a strong track record in resource project development, management, and financing.
The Company is developing a number of projects in Tanzania and continuously evaluates new opportunities in the country as well as other jurisdictions that fit its investment criteria.