An announcement regarding any of the below, also what are they doing with the Canadian and Queensland projects?
Exploration continues to drill Noronex’s extensive claim package, with a 4,900m drill program completed ontargets identified at the Fiesta and Blowhole prospects. Further exploration targeting large copper systems isplanned at the Witvlei tenements at Malachite Pan, Daheim and at a number of prospects, including Fiesta, inthe Humpback Project and further east on the new 100% applications when environmental clearance isapproved.
NEW ACQUISITION IN NAMIBIAN URANIUM BELT: Noronex has entered into an exclusivity agreement over a claim in the heart of the Namibian Uranium Belt allowing it to conduct due diligence and acquire up to an 80% interest via earn-out on a highly prospective 7,000 HA claim located approximately 3kms north of Bannerman Energy’s Etango project.
NEXT STEPS: Commencement of due diligence, completion of environmental clearance certificate followed by on-ground soils/radiometric testing and planning for potential drill program.
Subsequent to year end Noronex has agreed with its original joint venture partner in Namibia that Noronex’ssubsidiary will acquire its remaining 25% interest in the key Witvlei project (100% held by Aloe Investments TwoHundred Thirty Seven (Pty) Ltd (“Aloe 237”)) which results in an increase in shareholding from 70% to 95%. TheCompany will issue 4,400,000 shares as consideration for its proportional share of the acquisition with no cashpayable.
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