Forsys Metals Corp. has announced the appointment of Bacchus Capital Advisers to conduct a strategic review of the company’s 100% owned Norasa Uranium Project located in Namibia.
The decision by the company to undertake a strategic review of Norasa has been prompted by the ongoing developments in the uranium market and the structural misalignment of flat or declining supply versus growing demand.
“The strategic review will consider, evaluate and compare a broad selection of potential options for the purpose of identifying opportunities to maximise the value of Norasa for the Company’s shareholders. As part of the strategic review, Bacchus Capital will undertake a detailed evaluation of the Norasa project within the context of the wider market and regional opportunities,” the company said.
“The Norasa Uranium Project is one of the few post- Definitive Feasibility Study (is an evaluation of a proposed mining project to determine whether the mineral resource can be mined economically), construction ready, uranium projects with a mining license, which positions this asset as one of the only projects in the world able to potentially benefit from the near to mid-term expected supply shortages. Additionally, Norasa is located in Namibia, a strong mining jurisdiction with a history of support for the development and operation of uranium projects,” Forsys CEO and Director, Mark Frewin said.
Forsys Metals Corp. is an emerging uranium developer with 100% ownership of the its flagship Norasa project.
Norasa Uranium Project, according to the company, is one of the only construction ready uranium projects in the world with a mining licence and is situated 25 km from Rio Tinto’s historically significant Rössing uranium mine.
