Mantra Resources (MRU) is currently in a trading halt due to a takeover offer from ARMZ. The offer values MRU at $10.26 per lb U.
MRU's flagship is Mjuku River in Tanzania, with a resource size of about 101.4 Mlb* at about 395-442 ppm. A pre-feasibility study indicated annual production at 3.7 Mlb pa over 12 years, with extraction costs of $25/lb and capex of US$298m.
Hopefully this will help revalue other uranium stocks. My chief interest is in EXT, so this a courtesy post to give a heads up to the BMN brotherhood. You are better placed to work out what it means for BMN than I am, so over to you...
Good luck to all.
*There is a discrepancy in either the resource size or the value in $/lb. This resource size is from the Mantra website.
BMN Price at posting:
60.0¢ Sentiment: None Disclosure: Not Held
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