EL8 Lifts Marenica Uranium Project Ownership to 90%

Open PDF
Stock Elevate Uranium Ltd (EL8.ASX)
Release Time 13 Jul 2026, 8:26 a.m.
Price Sensitive Yes
 Elevate Uranium Increases Ownership in Marenica Uranium Project to 90%
Key Points
  • Elevate Uranium has acquired an additional 15% of the Marenica Uranium Project, increasing its ownership to 90%.
  • The acquisition enhances the Company's economic and strategic interest in the project.
  • The Company's attributable share of Marenica's JORC resource will increase to 47.5 Mlb U3O8.
  • The transaction is expected to complete before the end of July 2026.
Full Summary

Elevate Uranium Ltd (ASX: EL8) has announced the acquisition of an additional 15% of the Marenica Uranium Project in Namibia, increasing its ownership to 90%. This strategic acquisition consolidates the Company's position in one of its flagship assets and is expected to complete before the end of July 2026. The transaction will increase Elevate's attributable share of Marenica's JORC resource to 47.5 Mlb U3O8 and its Namibian resource base to 124 Mlb U3O8. The acquisition simplifies the ownership structure of the Marenica Uranium Project and ensures more of the project's growing value sits directly with Elevate shareholders. The Company is also testing bulk samples from these resources to define the processing parameters for Marenica's advanced development studies.

Guidance

Elevate Uranium's attributable share of Marenica's JORC resource will increase to 47.5 Mlb U3O8

Outlook

The acquisition is expected to complete before the end of July 2026, enhancing the Company's economic and strategic interest in the project.