Ticker: ASX: MEY
Project Stage: Exploration
Location: Namibia, Australia
Marenica is an Australian Securities Exchange listed exploration company with two broad areas of focus, uranium exploration and application of its patented beneficiation process called U-pgrade™.
Marenica has developed a three-pronged strategy for advancing the Company:
- Explore its own projects
- Acquire projects in which U-pgrade™ can add value
- Apply U-pgrade™ to third party projects
Marenica has a large land position in the globally-recognised Erongo uranium province in Namibia, a country with an established and long running uranium mining industry. In Namibia Marenica has three uranium exploration project areas, being the Namib Uranium Project, Mile 72 Uranium Project and Marenica Uranium Project. The Marenica Uranium Project has a large inferred uranium resource of 61 million pounds. These three areas are located in the North West, North and South East of the Erongo province, which provides diversity and opportunity to explore in a large tenement position.
On 13 December 2019, Marenica completed the acquisition of uranium assets in Australia, being the Angela, Thatcher Soak, Minerva and Oobagooma projects and joint venture holdings in the Bigrlyi, Malawiri, Walbiri and Areva joint ventures, adding 48 Mlbs U3O8 of high-grade Mineral Resources at an average grade of 859 ppm U3O8 to Marenica’s asset base. The Mineral Resources are significant in their own right, but could be dramatically enhanced when coupled with Marenica’s U-pgrade™ beneficiation process.
U-pgrade™ is Marenica’s patented disruptive beneficiation process. Marenica believes U-pgrade™ can revolutionise surficial uranium processing by reducing processing capital and operating costs by approximately 50% and thereby, improving the economics of all uranium projects which process surficial uranium and specifically making lower-grade projects much more competitive and financially viable.
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