Strategic acquisition enhances exploration potential
PERTH — Moab Minerals Limited has announced a significant expansion of its Manyoni Uranium Project in Tanzania through the acquisition of additional tenements. The company confirmed that it has secured the transfer of four uranium tenements from AuKing Limited, further solidifying its exploration presence in the area.
The newly acquired tenements have been transferred to Moab’s subsidiary Katika Resources Limited, extending the company’s reach across a promising palaeochannel uranium system. According to Moab, this acquisition is a strategic move to consolidate its uranium holdings in central Tanzania and explore various targets linked to the palaeo-drainage system.
Future Exploration Plans
Moab’s Managing Director, Malcolm Day, stated, “The transfer of the highly prospective AuKing tenements to our subsidiary is an important step in consolidating a strategic uranium tenement holding with multiple exploration targets.” The company plans to conduct metallurgical testwork and initiate step-out drilling to build on historical drilling results.
The deal, which involves issuing 62.5 million shares to AuKing Limited, is pending shareholder approval, expected in the June quarter. The Manyoni Uranium Project, which already boasts a resource estimate of 27.19 million pounds of uranium, stands to benefit from these additions as Moab aims to define further uranium resources.
This development comes amid increasing global demand for uranium, driven by a renewed focus on nuclear energy as a low-carbon power source. The acquisition aligns with industry trends where companies are seeking to bolster their portfolios with strategic resource holdings.
In addition to the direct benefits of expanding its resource base, Moab Minerals is also poised to contribute positively to the Tanzanian economy. The expansion is expected to create employment opportunities, bolster local industries, and enhance the company’s overall contribution to the region’s economic development. As the world shifts towards cleaner energy solutions, Moab’s efforts in uranium exploration and development are timely and align with global sustainability goals.
Source: newshub.medianet.com.au
Last updated: 18 March 2026, 11:37 am
