GUE sells gold asset

Today, our North American uranium Investment, Global Uranium and Enrichment (ASX: GUE) announced the sale of its non-core Enmore Gold Project in Australia to Koonenberry Gold (ASX: KNB).

The sale will see - GUE acquire 35M shares in Koonenberry Gold.

We see this as a win for both parties, as it allows GUE to focus on its enrichment tech and uranium development opportunities in the US.

This includes the ~52.2Mlb Tallahassee Uranium Project in Colorado and a 21.9% stake in uranium enrichment technology company Ubaryon.

We’re awaiting a scoping study on that ~52.2Mlb project which is due this quarter.

With the gold project now in the hands of Koonenberry Gold, we hope the company can deliver value at the project, which GUE could now have a share in.

Market sentiment for gold is quickly improving, with the gold price brushing up against all time highs once more (we might add).

What’s next for GUE?

🔲 Maybell JORC Resource (coming months)

GUE plans to prepare a maiden mineral resource estimate for Maybell.

We covered that drilling in our latest GUE note:

GUE delivers high grade uranium drill results - uranium price peeks higher.

Depending on the resource size and economics, next steps could potentially include additional drilling in 2025 and a scoping study to evaluate development options.

🔄~52Mlb Resource Scoping study (coming months)

A Scoping Study is due shortly at GUE’s advanced ~52Mlb JORC resource in another part of Colorado.

GUE indicated in September that the scoping study is due in the “coming months”.

🔄Further updates on uranium enrichment technology (Ubaryon)

We want to see Ubaryon de-risk its enrichment technology both operationally and from a regulatory perspective.

At the same time we are hoping Ubaryon is successful in getting funding either via an Australian Federal government grant or through the US$700M program made available by the US Department Of Energy (DOE).