GoviEx Uranium and the Republic of Niger Reach Letter of Intent for Madaouela Uranium Project
Vancouver, British Columbia, February 18, 2025 – GoviEx Uranium Inc. (TSXV: GXU) (OTCQB: GVXXF) (“GoviEx”) and its wholly-owned subsidiary, GoviEx Niger Holdings Ltd., are thrilled to announce a significant milestone in the ongoing dispute regarding the Madaouela Uranium Project in Niger. The Companies have reached a letter of intent (LOI) with the Republic of Niger, represented by the Minister of Mines, outlining a structured roadmap to negotiate a resolution to the dispute.
Background of the Madaouela Uranium Project
The Madaouela Uranium Project, located in the Arlit uranium district in the Agadez region of Niger, is a large-scale, open-pit, conventional ISR (In-situ Recovery) uranium mine. The project holds an estimated 119.3 million pounds of U3O8 (uranium trioxide) and 2.5 million pounds of vanadium pentoxide. GoviEx acquired the project in 2014 and has been working on its development since then.
Details of the LOI
The LOI includes the following key points:
- The Parties commit to a constructive dialogue to negotiate a mutually acceptable resolution to the dispute.
- The Parties agree to establish a joint technical committee to assess the current state of the project and identify potential areas of cooperation.
- The Parties will work together to identify and mitigate any concerns, including environmental, social, and economic aspects.
- The Parties will explore opportunities for collaboration and potential joint ventures to unlock the full potential of the Madaouela Uranium Project and the broader uranium district in Niger.
Impact on GoviEx and the World
This LOI is a positive development for GoviEx as it represents a significant step towards resolving the dispute and potentially unlocking the value of the Madaouela Uranium Project. The project could provide significant economic benefits to Niger, including job creation, revenue from uranium sales, and potential spin-off benefits to local businesses.
On a global scale, the resolution of the Madaouela Uranium Project dispute could have a positive impact on the uranium market, which has been experiencing supply shortages due to the closure of several major uranium mines in recent years. Uranium is an essential fuel for nuclear power plants, which provide around 10% of the world’s electricity, and its demand is expected to grow as more countries transition to low-carbon energy sources.
Conclusion
The signing of the LOI between GoviEx and the Republic of Niger represents a crucial step towards resolving the dispute regarding the Madaouela Uranium Project and unlocking its potential economic benefits for both parties. The project’s resolution could also have a positive impact on the global uranium market, which is currently experiencing supply shortages. GoviEx remains committed to working constructively with the Republic of Niger to reach a mutually acceptable resolution and looks forward to exploring opportunities for collaboration and joint ventures to unlock the full potential of the Madaouela Uranium Project and the broader uranium district in Niger.
GoviEx will provide further updates as the negotiations progress.
