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Madison Metals Inc. (CSE: GREN, OTCQB: MMTLF) announced an extension of the closing date for the Khan Project agreement, which includes key Mining Licence 86A and Exclusive Prospecting Licence 8905 in Namibia. These licences expand Madison's land holdings near significant uranium mines in Erongo province, forming a contiguous land package of 7.86 km2 close to the Rössing Mine. The company has made advanced payments of US$125,000 for the project, which is aimed at sustainable uranium production. Encouraging results from initial ground prospecting will be released after data analysis. Namibia is a leading uranium-producing country with robust mining infrastructure to support operations.
Madison Metals Inc. (CSE: GREN, OTCQB: MMTLF) has announced discussions with a development group to issue a new fungible token (FT) backed by its uranium resource. This initiative aims to enhance liquid transactions and increase asset sales, potentially generating significant cash for the company's treasury. The funds from token sales will support the advancement of resource figures and economic studies for mining operations in Namibia. Madison expects to proceed on a non-dilutive basis, with approximately 23.5 million shares outstanding and C$1 million in treasury. However, there are delays in the NFT listing and outstanding payments from Lux Partners, which could affect the partnership.
Madison Metals Inc. (CSE: GREN, OTCQB: MMTLF) has announced the termination of its service agreement with Neil Simon of Investor Cubed, effective April 27, 2023. This decision marks a strategic shift for the company as it focuses on sustainable uranium production in Namibia and Canada. Madison Metals aims to leverage modern technologies to efficiently advance its uranium assets to market. The company boasts over 50 years of mining experience, with a management team skilled in geology and finance, dedicated to creating shareholder value. For more information, visit madisonmetals.ca.
Madison Metals (CSE: GREN, OTCQB: MMTLF) announced the successful exercise of 3,832,154 warrants at CAD$0.35, adding CAD$1,341,253.90 to its treasury as of January 26, 2023. The company maintains a strong capital base with only 23,810,150 shares outstanding. Madison appointed Ryan Thompson as Chief Strategy Officer, granting him 75,000 shares, alongside 75,000 shares to Investor Cubed Inc. for investor relations. Additionally, 500,000 stock options were granted to management at a price of CAD$0.55. Madison aims to enhance sustainable uranium production in Namibia and Canada, supported by a management team with over 50 years of experience.
Madison Metals Inc. (CSE: GREN, OTCQB: MMTLF) announced that its shares are now eligible for electronic clearing and settlement in the U.S. via the Depository Trust Company (DTC). This eligibility is expected to simplify trading and enhance liquidity for Madison shares on the OTCQB market. As an upstream mining and exploration company focusing on sustainable uranium production, Madison is positioned to advance its assets quickly in the market.
Madison Metals Inc. has announced an agreement to acquire a 90% stake in Mining Licence 86A and Exclusive Prospecting Licence 8905 in Namibia's Erongo Uranium Province. This transaction enhances Madison's uranium-focused land holdings, creating a contiguous area of 427 km2 adjacent to the active Rössing Mine. This strategic move aims to bolster the company’s exploration capabilities in a region known for its significant uranium resources. Madison expects to finalize the transaction early next year, pending due diligence.
Madison Metals Inc. (CSE: GREN, OTCQB: MMTLF) has received an Environmental Clearance Certificate (ECC) from Namibia's Ministry of Environment, allowing exploration activities on Exclusive Prospecting Licences 8531 and 8115. Valid until October 18, 2025, the ECC enables extensive drilling in the Erongo Uranium Province. Historical estimates suggest EPL-8531 contains a resource of 15.6 million tons grading 260 ppm U3O8, indicating significant potential for uranium deposits. The company plans to initiate drilling in 2023.
Madison Metals Inc. (OTCQB: MMTLF) announced its intention to implement a normal course issuer bid (NCIB) starting October 28, 2022. Over the next 12 months, the company plans to repurchase up to 940,000 common shares, approximately 5% of its outstanding shares, at market price. This buyback aims to address the perceived undervaluation of the shares and is seen as a prudent use of funds. Integral Wealth Securities Limited has been appointed to facilitate the repurchases, which are expected to enhance shareholder value.
Madison Metals Inc. (OTCQB: MMTLF) announced a successful initial tranche of capital inflow from its collaboration with Lux Partners Ltd., totaling USD $5.12 million. This funding stems from the launch of Lux Uranium tokens, which have surpassed sales projections, offering a discounted entry to the uranium market. Madison is set to supply 7.65 million pounds of U3O8 through a five-year exclusive agreement to back these NFTs. The company, focused on uranium production in Namibia and Canada, aims to leverage blockchain technology for asset tokenization.
