Uranium American Resources, Inc Announces Official Name Change and Pivots to Uranium and Vanadium Focus
Uranium American Resources, Inc. (formerly Tonogold Resources, OTC PINK:TNGL) has announced its official rebranding, marking a strategic shift towards uranium and vanadium assets. The company is acquiring three projects in the western USA: the Marysvale Project (hardrock uranium and vanadium mine), SKY Project (uranium roll front asset), and Stateline Project (19 historic high-grade mines).
The projects were acquired between 2017-2020 during low uranium prices. Historic estimates indicate over 1Mlb U3O8 at Sky Project and approximately 2.9Mlb U3O8 at Marysvale. Over 80% of historical convertible noteholders have supported this transition by converting their notes to equity at $0.10 per share. The company is currently working on changing its ticker symbol, though it will continue trading as TNGL until FINRA processes are complete.
Uranium American Resources, Inc. (precedentemente Tonogold Resources, OTC PINK:TNGL) ha annunciato il suo ufficiale rebranding, segnando un cambiamento strategico verso le risorse di uranio e vanadio. L'azienda sta acquisendo tre progetti nel ovest degli Stati Uniti: il Marysvale Project (miniera di uranio e vanadio a roccia dura), il SKY Project (attività di uranio a roll front) e il Stateline Project (19 storiche miniere ad alta legge).
I progetti sono stati acquisiti tra il 2017 e il 2020 durante un periodo di prezzi bassi per l'uranio. Le stime storiche indicano oltre 1Mlb U3O8 nel Sky Project e circa 2.9Mlb U3O8 a Marysvale. Oltre l'80% degli storici detentori di obbligazioni convertibili hanno sostenuto questa transizione convertendo le loro obbligazioni in azioni a $0.10 per azione. L'azienda sta attualmente lavorando al cambiamento del proprio simbolo azionario, anche se continuerà a essere scambiata come TNGL fino al completamento dei processi FINRA.
Uranium American Resources, Inc. (anteriormente Tonogold Resources, OTC PINK:TNGL) ha anunciado su rebranding oficial, marcando un cambio estratégico hacia activos de uranio y vanadio. La compañía está adquiriendo tres proyectos en el oeste de EE.UU.: el Marysvale Project (mina de uranio y vanadio de roca dura), el SKY Project (activo de uranio de roll front) y el Stateline Project (19 minas históricas de alta ley).
Los proyectos fueron adquiridos entre 2017 y 2020 durante un período de precios bajos de uranio. Las estimaciones históricas indican más de 1Mlb U3O8 en el Sky Project y aproximadamente 2.9Mlb U3O8 en Marysvale. Más del 80% de los tenedores históricos de notas convertibles han apoyado esta transición convirtiendo sus notas en acciones a $0.10 por acción. La compañía está trabajando actualmente en cambiar su símbolo de cotización, aunque continuará comerciando como TNGL hasta que se completen los procesos de FINRA.
Uranium American Resources, Inc. (이전 Tonogold Resources, OTC PINK:TNGL)는 공식 브랜드 변경을 발표했으며, 이는 우라늄 및 바나듐 자산으로의 전략적 전환을 의미합니다. 회사는 미국 서부에서 세 개의 프로젝트를 인수하고 있습니다: Marysvale Project (경암 우라늄 및 바나듐 광산), SKY Project (우라늄 롤 프론트 자산), Stateline Project (19개의 역사적인 고등급 광산).
이 프로젝트들은 2017-2020년 동안 우라늄 가격이 낮을 때 인수되었습니다. 역사적 추정치는 Sky Project에서 1Mlb U3O8 이상, Marysvale에서 약 2.9Mlb U3O8를 나타냅니다. 역사적인 전환 가능 채권의 80% 이상이 $0.10의 주식으로 채권을 전환함으로써 이 전환을 지지했습니다. 회사는 현재 티커 기호 변경 작업을 진행 중이며, FINRA 프로세스가 완료될 때까지 TNGL로 계속 거래될 것입니다.
Uranium American Resources, Inc. (anciennement Tonogold Resources, OTC PINK:TNGL) a annoncé son rebranding officiel, marquant un changement stratégique vers des actifs d'uranium et de vanadium. La société acquiert trois projets dans l'ouest des États-Unis : le Marysvale Project (mine d'uranium et de vanadium à roche dure), le SKY Project (actif d'uranium en front roulant) et le Stateline Project (19 mines historiques de haute qualité).
Les projets ont été acquis entre 2017 et 2020 lors de faibles prix de l'uranium. Les estimations historiques indiquent plus de 1Mlb U3O8 au Sky Project et environ 2.9Mlb U3O8 à Marysvale. Plus de 80 % des détenteurs historiques de notes convertibles ont soutenu cette transition en convertissant leurs notes en actions au prix de 0,10 $ par action. La société travaille actuellement à changer son symbole boursier, bien qu'elle continue d'être échangée sous le nom de TNGL jusqu'à ce que les processus FINRA soient terminés.
Uranium American Resources, Inc. (früher Tonogold Resources, OTC PINK:TNGL) hat sein offizielles Rebranding angekündigt, was einen strategischen Wandel zu Uran- und Vanadiumvermögen markiert. Das Unternehmen erwirbt drei Projekte im Westen der USA: das Marysvale Project (Hartgestein-Uran- und Vanadiummine), das SKY Project (Uran-Rollfront-Vermögen) und das Stateline Project (19 historische Hochgradminen).
Die Projekte wurden zwischen 2017 und 2020 während niedriger Uranpreise erworben. Historische Schätzungen deuten auf über 1Mlb U3O8 im Sky Project und etwa 2,9Mlb U3O8 im Marysvale hin. Über 80 % der historischen Inhaber von wandelbaren Anleihen haben diesen Übergang unterstützt, indem sie ihre Anleihen zu einem Preis von 0,10 $ pro Aktie in Eigenkapital umgewandelt haben. Das Unternehmen arbeitet derzeit an der Änderung seines Tickersymbols, wird jedoch bis zum Abschluss der FINRA-Prozesse weiterhin als TNGL gehandelt.
- Strong shareholder support with 80% of noteholders converting to equity at $0.10/share
- Portfolio includes three historic uranium/vanadium production sites
- Historic estimates show significant uranium resources (>1Mlb U3O8 at Sky Project, ~2.9Mlb U3O8 at Marysvale)
- Assets acquired during low uranium price period (2017-2020), suggesting favorable acquisition costs
- Historic resource estimates are not NI43-101 compliant
- Projects require updating of resources and mining approvals
- Company still pending FINRA approval for name and ticker change
WOODLAND HILLS, CA / ACCESS Newswire / February 4, 2025 / Uranium American Resources, Inc. (formerly Tonogold Resources, Inc., (OTC PINK:TNGL)) is proud to announce a significant milestone in its strategic transition, with the company officially rebranding as Uranium American Resources, Inc. effective immediately. The Company is also in the process of changing its ticker symbol and will update shareholders on this progress. Pending completion of the formal name and ticker update process with FINRA, the Company's common stock with continue to trade under the old Company and TNGL ticker symbol.
This rebranding marks a pivotal shift in the company's focus to uranium and vanadium assets, aligning with the growing demand for clean energy solutions and positioning Uranium American Resources as a key player in the U.S. nuclear energy sector.
The company is in the process of acquiring three unique low risk projects located in west central USA known for Historic Production of Uranium & Vanadium close to significant mines and operating plants.
The land was acquired during periods of low uranium prices between 2017 and 2020, including:
Marysvale Project: A hardrock uranium and vanadium mine with significant historic production.
SKY Project: A uranium roll front asset with promising in-situ recovery potential.
Stateline Project: A cluster of more than 19 historic high-grade vanadium and uranium mines located across Montrose County, Colorado, and San Juan County, Utah.
The projects contain highly prospective geology, confirmed by historical mining activities and supported by comprehensive existing datasets, enabling a fast track to updating Resources and mining approvals.
Table 1: Project Drilling, Historic Mining and Historic Estimates.
Project | Drillhole Data | Historic Mines1 | Historic Estimate2 |
Sky | >150 Drillholes | - | >1Mlb U3O8 |
Stateline | >30 Drillholes | 19 U & V Mines | - |
Marysvale | >120 Drillholes | 3 U Mines | ~2.9Mlb U3O8 |
Shareholder Support for Strategic Change
This positive transformation has received resounding support from shareholders, with over
The market has responded favorably to the company's strategic pivot, with the share price reflecting the strong investor confidence in the new vision and growth potential of Uranium American Resources.
CEO William Hunter commented:
"We're pleased to announce our name change and continuing to move this transaction forward. With the increased focus on producing "clean" energy, we believe our current strategy uniquely positions Uranium American Resources as a leader in the US nuclear industry. We continue to discuss partnerships and transactions with other leaders in the industry and look forward to providing updates in the near future."
The company looks forward to providing further updates as it progresses these exciting acquisitions and builds a sustainable future in clean energy production.
Enquiries
For further information, please contact:
William Hunter
Interim CEO, Uranium American Resources, Inc.
M: +1 203 856 7285
1 USGS MRDS database.
2 Historic Estimates are not considered NI43-101.
SOURCE: Uranium American Resources, Inc.
View the original press release on ACCESS Newswire
FAQ
What are the three main projects acquired by Uranium American Resources (TNGL)?
How much historical uranium resources do TNGL's projects contain?
What was the conversion price for TNGL's noteholders in the 2025 strategic change?
When did TNGL acquire its uranium and vanadium projects?
How many historic mines are included in TNGL's Stateline Project?
