If you're going to do an acquisition, best make sure it's big dog significant
I suspect this will be adding on the Hansen/Taylor tenements to the ones Okapi already have at Tallahassee. The deposit is similar to High Park in grade (and likely composition) but significantly larger having been already delineated for JORC from yonks ago.
Black Range Minerals controls the land and drilled it out in the last decade, the whole area has had hundreds of kays of drilling but with the uranium market the way it was, no one developed it. Black Range eventually got sold to Western Uranium and Vanadium (WUC.CN) so they are running the show and are on the CSE. As such reporting is super light compared to ASX, but from what I can tell they don't seem potentially interested in these Tallahassee tenements, even though they are local and are based in Colorado.
Interestingly enough if you check out the "issues" section for these tenements, Black Range used to run into issues on the regular, being barred exploration into new areas back in 2008, as well as multiple more times to 2010, in some cases due to water table contamination. The political environment is no doubt more conducive for uranium exploration and green energy production now, which is a plus. This implies that despite all the holes around the place, there may be some underexplored potential there as well.
Clearly with the way the U market is going politically and commercially as well as the location smack bang in the middle of the USA which has enacted policy to become more self sufficient for critical minerals, Okapi may be looking to double down in this area. The recent modest and timely JORC for Tallahassee shows commitment and the fact that these tenements surround Taylor/Hansen, it holds more value for OKR than the other way around.
As I say, with the lax Canadian reporting standards it's hard to get a handle on what Western want to do with the tenements. Looking at their most recent activities they are focussed on restarting the Sunday Mine which is significantly higher grade Uranium than Hansen (which isn't even mentioned) and even some fracking for oil (!) projects. The Taylor/Hansen project is listed last on their project list.
Just my conjecture, let's see
OKR Price at posting:
55.0¢ Sentiment: Buy Disclosure: Held
