C29 Metals has successfully acquired the southern tenement, spanning 213km², at the Ulytau Uranium Project in southern Kazakhstan. This new tenement is contiguous with the existing license area, located directly to the south and east of the project’s current boundaries. With a market capitalization of $11.17 million, C29 Metals announced that the tenement granting process was completed within an impressive 15 days, highlighting the efficiency of government agencies and their support for the company’s endeavors.
Managing Director Shannon Green expressed excitement over the swift approval, stating, “It is very exciting to have this highly prospective application granted in such a rapid timeframe.” He further emphasized that this rapid approval demonstrates the positive operating environment in Kazakhstan and the strong support the company is receiving.
C29 Metals will immediately begin the exploration approval process for the new southern tenement. The approval process for the company’s planned exploration programs at the Ulytau Project is already well advanced and proceeding as scheduled. The Ulytau Project is located in the Almaty region, approximately 15km southwest of the Bota-Burum mine, one of the largest uranium deposits mined during the former Soviet Union era.
