01 March 2024
01 March 2024
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As per agreed terms, Galileo was allowed to raise its stake by spending on exploration and evaluation of BC Ventures’ projects.
The initial agreement allows for a 51% stake acquisition, with the option to increase ownership.
The investment aims to extend the mine's lifespan from seven to 20 years, with works scheduled to commence in 2025.
The deal was finalised following a binding implementation agreement announced on 11 December 2023.
The suspension follows the release of union boss Sékou Jamal Pendessa.
The reopening marks the first step in the company's strategy to become a multi-asset uranium producer.
The Yurkowski Lake Project, an extension of the company's Core Pasfield Project, spans three claims over 4,438.49 hectares (ha).
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