it has received a letter of intent from a second major western utility for the procurement of uranium from the company’s Dasa Project in the Republic of Niger.
The company said the LOI represents the supply of up to 2.4 million pounds U3O8 within a multi-year delivery window beginning in 2025, representing about 7 per cent of Dasa’s annual Phase 1 production over the period. “The revenue potential of this award, valued at US$140-million in real terms, reflects the company’s continued strategy of establishing sales contracts with Tier 1 global utilities, at volumes sufficient to underwrite debt financing, thereby limiting equity dilution as the Dasa operation moves into production,” it stated.
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