Madison Metals Secures Strategic Partnership with Star Minerals to Advance Cobra Uranium Project in Namibia, Africa
Madison Metals Inc. (CSE: GREN, OTCQB: MMTLF) has entered into a strategic partnership with Star Minerals (ASX: SMS) for the Cobra Uranium Project in Namibia. Star Minerals can earn up to a 51% interest in the project through staged cash payments, share issuances, and exploration expenditures over three years, potentially valued at US$4.4 million. Upon completion, the companies will form a joint venture for further exploration and development.
The partnership aims to accelerate exploration in one of the world's premier uranium mining jurisdictions. Madison's CEO, Duane Parnham, expressed excitement about the collaboration, highlighting its potential to unlock significant value for both companies and their shareholders. The agreement aligns with Madison's strategy of leveraging partnerships to drive sustainable uranium production and meet global energy demands.
Madison Metals Inc. (CSE: GREN, OTCQB: MMTLF) ha instaurato una partnership strategica con Star Minerals (ASX: SMS) per il Progetto Uranio Cobra in Namibia. Star Minerals può acquisire fino al 51% di partecipazione nel progetto attraverso pagamenti in contante scaglionati, emissione di azioni ed spese per esplorazioni nel corso di tre anni, potenzialmente valutati US$4,4 milioni. Una volta completato, le aziende formeranno un joint venture per ulteriori esplorazioni e sviluppi.
La partnership ha l'obiettivo di accelerare l'esplorazione in una delle giurisdizioni minerarie di uranio più rinomate al mondo. Il CEO di Madison, Duane Parnham, ha espresso entusiasmo per la collaborazione, evidenziando il potenziale di sbloccare valore significativo per entrambe le aziende e i loro azionisti. L'accordo è in linea con la strategia di Madison di sfruttare alleanze per promuovere una produzione di uranio sostenibile e soddisfare la domanda energetica globale.
Madison Metals Inc. (CSE: GREN, OTCQB: MMTLF) ha entrado en una asociación estratégica con Star Minerals (ASX: SMS) para el Proyecto de Uranio Cobra en Namibia. Star Minerals puede adquirir hasta un 51% de participación en el proyecto a través de pagos en efectivo escalonados, emisión de acciones y gastos de exploración durante un período de tres años, con un valor potencial de US$4.4 millones. Una vez completado, las empresas formarán una empresa conjunta para la exploración y el desarrollo adicionales.
La asociación tiene como objetivo acelerar la exploración en una de las principales jurisdicciones mineras de uranio del mundo. El CEO de Madison, Duane Parnham, expresó su entusiasmo por la colaboración, destacando su potencial para desbloquear un valor significativo para ambas empresas y sus accionistas. El acuerdo se alinea con la estrategia de Madison de aprovechar las asociaciones para impulsar una producción sostenible de uranio y satisfacer la demanda energética global.
매디슨 메탈스 주식회사 (CSE: GREN, OTCQB: MMTLF)가 스타 미네랄스 (ASX: SMS)와 나미비아 코브라 우라늄 프로젝트를 위한 전략적 파트너십을 체결했습니다. 스타 미네랄스는 3년 동안 단계적인 현금 지불, 주식 발행, 탐사 비용을 통해 프로젝트에서 최대 51%의 지분을 확보할 수 있으며, 그 가치는 US$4.4 백만에 이를 수 있습니다. 완료되면 양사는 추가 탐사 및 개발을 위한 합작회사를 설립할 것입니다.
이 파트너십은 세계 최고의 우라늄 채굴 관할권 중 하나에서 탐사를 가속화하는 것을 목표로 하고 있습니다. 매디슨의 CEO인 두안 파르남은 협력에 대한 흥분을 표하며, 이는 두 회사와 그 주주들에게 중요한 가치를 창출할 수 있는 잠재력을 강조했습니다. 이 계약은 매디슨의 지속 가능한 우라늄 생산을 촉진하고 글로벌 에너지 수요를 충족하기 위해 파트너십을 활용하는 전략과 일치합니다.
Madison Metals Inc. (CSE: GREN, OTCQB: MMTLF) a conclu un partenariat stratégique avec Star Minerals (ASX: SMS) pour le Projet d'Uranium Cobra en Namibie. Star Minerals peut acquérir jusqu'à 51 % d'intérêt dans le projet grâce à des paiements en espèces échelonnés, des émissions d'actions et des dépenses d'exploration sur une période de trois ans, potentiellement évaluées à US$4,4 millions. Une fois terminé, les entreprises formeront une coentreprise pour des explorations et des développements supplémentaires.
Ce partenariat vise à accélérer l'exploration dans l'une des premières juridictions minières d'uranium au monde. Le PDG de Madison, Duane Parnham, a exprimé son enthousiasme pour cette collaboration, soulignant son potentiel à débloquer une valeur significative pour les deux entreprises et leurs actionnaires. Cet accord s'aligne sur la stratégie de Madison de tirer parti des partenariats pour promouvoir une production d'uranium durable et répondre aux demandes énergétiques mondiales.
Madison Metals Inc. (CSE: GREN, OTCQB: MMTLF) hat eine strategische Partnerschaft mit Star Minerals (ASX: SMS) für das Cobra Uran-Projekt in Namibia eingegangen. Star Minerals kann durch gestaffelte Barzahlungen, Aktienausgaben und Explorationsausgaben über einen Zeitraum von drei Jahren bis zu 51% der Beteiligung an dem Projekt erwerben, dessen potenzieller Wert bei US$4,4 Millionen liegt. Nach Abschluss werden die Unternehmen ein Joint Venture zur weiteren Erkundung und Entwicklung gründen.
Das Ziel der Partnerschaft ist es, die Erkundung in einer der weltweit führenden Uranabbauregionen zu beschleunigen. Der CEO von Madison, Duane Parnham, äußerte sich begeistert über die Zusammenarbeit und hob deren Potenzial hervor, signifikanten Wert für beide Unternehmen und deren Aktionäre zu schaffen. Die Vereinbarung entspricht der Strategie von Madison, Partnerschaften zu nutzen, um eine nachhaltige Uranproduktion voranzutreiben und den globalen Energiebedarf zu decken.
- Strategic partnership with Star Minerals to develop the Cobra Uranium Project
- Potential to earn US$4.4 million in cash, stock, and exploration expenditures
- Formation of a joint venture for future exploration and development
- Expansion of Madison's operational footprint in Namibia
- Project located in a favorable regulatory environment for uranium mining
- Dilution of Madison's ownership in the Cobra Uranium Project up to 49%
- Obligation to issue 450,000 common shares to a non-arms-length individual
TORONTO, Sept. 19, 2024 (GLOBE NEWSWIRE) -- Madison Metals Inc. (“Madison” or the “Company”) (CSE: GREN) (OTCQB: MMTLF) (FSE: 4EF0) is pleased to announce that Star Minerals Limited (“Star Minerals”) (ASX: SMS), a well managed Australian public company, has entered into a binding agreement with Madison to earn into Exclusive Prospecting Licence 8531 (the “Cobra Uranium Project”) at Madison North near the world-renowned Rossing Uranium Mine in the Erongo Uranium Province, Namibia.
Under the terms of the agreement, Star Minerals has the opportunity to earn up to a
“We are excited to welcome Star Minerals as a partner in the development of the Cobra Uranium Project,” said Duane Parnham, Executive Chairman and CEO of Madison Metals. “This agreement strengthens Madison’s operational footprint in Namibia, as we now have active exploration efforts underway on two uranium projects in one of the world’s premier uranium mining jurisdictions. We believe this partnership will unlock significant value for both companies and our respective shareholders, and we look forward to advancing our mutual goal of driving sustainable uranium production to meet global energy demands.”
The Cobra Uranium Project is strategically located in Namibia, a leading global jurisdiction for uranium mining, known for its favorable regulatory environment and long history of supporting the uranium industry. This collaboration with Star Minerals aligns with Madison’s strategy of leveraging partnerships to accelerate exploration and development, while maintaining focus on creating long-term value for its shareholders.
In connection with the execution of the above-noted earn-in agreement, the Company is obligated to issue 450,000 common shares of Madison in two equal tranches to a non-arms-length individual, with the first half on execution and the remaining half upon Star Minerals completing its first earn-in milestone.
About Madison Metals Inc.
Madison Metals Inc. (CSE: GREN) (OTCQB: MMTLF) (FSE: 4EF0) is an upstream mining and exploration company focused on sustainable uranium production in Namibia and Canada. With over 50 years of mining experience, including 22 years in Namibia, its management team has geological and financial expertise and a track record of creating shareholder value.
Additional information about Madison Metals Inc. can be found at madisonmetals.ca and on the Company’s SEDAR+ profile at www.sedarplus.ca.
For further information, please contact:
Duane Parnham
Executive Chairman & CEO
Madison Metals Inc.
+1 (416) 489-0092
ir@madisonmetals.ca
Media inquiries:
Adam Bello
Manager, Media & Analyst Relations
Primoris Group Inc.
+1 (416) 489-0092
media@primorisgroup.com
Neither the Canadian Securities Exchange nor CIRO accepts responsibility for the adequacy or accuracy of this release.
Forward-looking Statements
This release contains “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to statements regarding the proposed future exploration and drilling by Madison.
Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “schedule”, “estimates”, “forecasts”, “intends”, “continue”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “will”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking statements are made based upon certain assumptions and other important facts that, if untrue, could cause the actual results, performance or achievements of the Company to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future.
Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include, amongst others: the global economic climate; competition; labour shortages, and unanticipated expenses of the Company. Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: failure of the Company or its contractual partners to fulfil their respective obligations under agreements; unanticipated delays in drilling as described in this press release; the impact the COVID 19 pandemic may have on the Company’s activities and the economy in general; the impact of the recovery post COVID 19 pandemic and its impact on precious metals; receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; accidents, labour disputes and shortages; environmental risks; and other risks of the mining industry.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
You can find further information with respect to these and other risks in filings made with the Canadian securities regulatory authorities that are available on the Company’s SEDAR+ profile page at www.sedarplus.ca. The Company disclaims any obligation to update or revise these forward-looking statements, except as required by applicable law.
FAQ
What is the Cobra Uranium Project and where is it located?
How much can Star Minerals earn in the Cobra Uranium Project?
What is the potential value of the earn-in agreement for Madison Metals (MMTLF)?
What happens after Star Minerals completes the earn-in for the Cobra Uranium Project?
