GTI Energy confirms Snow Lake as cornerstone investor following DD
Our US uranium investment GTI Energy (ASX: GTR) has locked in NASDAQ listed Snow Lake Energy as one of the company’s major shareholders.
Snow Lake is taking a 9.9% stake in GTR - coming in on the same terms as the recent $4.5M placement at 0.35c.
Snow Lake will be investing ~$1.5M into GTR at 0.35c, and will also have the right to appoint a director to GTR’s board.
The deal is subject to shareholder approval on August 13.
Snow Lake already owns half of the Pine Ridge uranium project which borders GTI’s Lo Herma ISR uranium project’s northern border in Wyoming, USA.
GTR’s projects sit to the south of the area Snow Lake will be exploring (in yellow above).
The Lo Herma project already has a JORC resource estimate of 8.57m lb of uranium with a drill permit recently approved plus drill rigs secured for a drill campaign to take place next month.
The reason we think Snow Lake is taking positions in assets in this part of the US is because of the project’s proximity to Cameco’s Smith Ranch - which is the biggest ISR uranium processing facility in the USA.
We have Investments in both GTR and GUE in this part of the world.
What’s next for GTR?
🔲 Drilling to increase Lo Herma’s resource (September 2025)
We want to see GTR drill out its Lo Herma project and increase its current JORC resource.
GTR expects drilling to start in H2-2025.
We want to see GTR drilling into the parts of its project where it has already defined an exploration target.
Here is an image showing those areas:
(Source)
🔄 Corporate updates
GTR has also announced to the market a timeline for some corporate administrative changes.
First of all GTR is changing its name to American Uranium Limited.
Second, GTR is looking to complete a 40:1 consolidation.
GTR will be trading on a post-consolidation basis on a deferred basis next week and then normal T+2 trading will begin on the 27th of August:
(Source)
