Subscribe to Newsletter and Print Magazine
  • Kettenwulf
  • Siemag Tecberg
  • AcQuire
  • MASPRO

logo

  • News
  • Projects
  • Business and Finance
  • Trending
  • Business Insight
  • Events
  • Online Magazine
  • Advertise
  • Contact
Home
  • News
  • Projects
  • Business and Finance
  • Trending
  • Business Insight
  • Events
  • Online Magazine
  • Advertise
  • Contact
  • Most businesses expect harm from Trump administration's tariffs
  • Queensland mining trade mission deepens China ties
  • The United States races to secure rare earth supply
  • Madeleine King reappointed minister, drives resources growth
Quotes by TradingView

Askari Metals secures new investor to boost Tanzanian uranium strategy

07 Jan, 2025
C29 Metals expands Ulytau Uranium Project with new tenement grant



Askari Metals (ASX: AS2) has taken a significant step forward in its Tanzanian uranium strategy by securing support from a new high-net-worth sophisticated investor.

The company has entered into a binding subscription agreement with Celtic Finance, raising an additional $350,000 to advance its growth plans in Tanzania.

Director Gino D’Anna expressed enthusiasm about the new investor, stating that they share Askari’s vision for exploration in Africa and the strategic move into uranium in Tanzania.

The investment is expected to provide Askari with access to a broader network of funding parties, potentially opening up new avenues for future capital.

The funds raised from this placement will be instrumental in expanding Askari’s uranium footprint in southern Tanzania.

D’Anna emphasised that the coming months would be a busy period for the company, with the new funding allowing Askari to maintain its strong momentum and further advance its exploration and acquisition strategy.

Askari’s recent acquisitions include the Matemanga uranium project in Southern Tanzania and the Eyasi uranium project in northern Tanzania, both obtained through direct application.

The Matemanga project is strategically located less than 70 kilometres south of the world-class Nyota uranium mine.

Previous work at Matemanga identified a significant radiometric anomaly spanning 10 kilometres by six kilometres, indicating substantial potential for uranium mineralisation.

At the Eyasi project, re-processing of airborne geophysical data has revealed two discrete, linear radiometric anomalies approximately one kilometre in width, totalling 30 kilometres of strike.

These anomalies are interpreted as fluvial channel systems draining from primary basement granites.

As part of its growth strategy, Askari is also conducting due diligence to acquire additional uranium projects, aiming to build a district-scale uranium portfolio in southern Tanzania.

Simultaneously, the company is working on a divestment strategy for its Australian exploration portfolio, which includes prospective gold, copper, REE, and lithium projects.

The agreement with Utah-based Celtic Finance includes a 1-for-1 free attaching option exercisable at $0.022, expiring on December 31, 2028, for shares subscribed under the shareholder-approved placement.

As Askari Metals continues to expand its presence in Tanzania’s uranium sector, the company is actively seeking experienced top-level management to guide it through the next stage of development and advance its key projects.

Related Articles

Eclipse Metals and Boss Energy join forces to advance Liverpool Uranium project

Eclipse Metals and Boss Energy join forces to advance Liverpool Uranium project

Kazakhstan's uranium industry poised for growth amid nuclear resurgence

Kazakhstan’s uranium industry poised for growth amid nuclear resurgence

Basin Energy completes strategic acquisition of Scandinavian uranium and green energy metals portfolio

Basin Energy aquires Scandinavian uranium and green energy metals assets

Sweden moves to lift uranium mining ban, boosting exploration prospects

Sweden moves to lift uranium mining ban, boosting exploration prospects

Breaking

  • News
  • Projects
  • Trending
15 May

Most businesses expect harm from Trump administration’s tariffs

15 May

Queensland mining trade mission deepens China ties

15 May

The United States races to secure rare earth supply

14 May

Madeleine King reappointed minister, drives resources growth

12 May

Copper industry faces pivotal, strategic transformation

15 May

New Murchison Gold hits shallow high-grades in Western Australia

15 May

Sibanye-Stillwater raises Keliber lithium project cost

12 May

C29 Metals uncovers multiple targets in Kazakhstan survey

12 May

Adavale unveils maiden London-Victoria gold resource

08 May

“Boots on the ground” approach to exploration paying dividends for Andean Silver

29 Jan

Mining’s global leadership challenge: insights from OIM Consulting

18 Oct

Second chance for miner paying off as production increases with ramp up

18 Oct

Joint venture sees WA consolidate its position as an international lithium hub

18 Oct

Pilbara manufacturing hub to manage surge in rail construction

18 Oct

Data model supports the evaluation and management of drill rigs

Online Magazine

    Current Magazine Cover
  • Login
  • Subscribe

Subscribe

Subscribe to Newsletter and Print Magazine.
  • NOVECOM
  • Drug Alert Test Kits
  • Sundstrom S.E.A.
  • Bradken

Our Titles

  • Share on Newsletter
  • Share on LinkedIn
  • Share on Twitter
  • Home
  • Contact Us
  • Terms and Conditions
  • Privacy
© Sage Media Group 2025 All Rights Reserved.
×
Authorization
  • Registration
 This feature has been disabled
 This feature has been disabled until further notice, however you may still register
×
Registration
  • Autorization
Register
* All fields required