Askari Metals Secures Strategic Investment to Advance Tanzanian Uranium Projects.

Askari Metals Limited (ASX: AS2) has raised funds through a strategic placement to drive its exploration and development activities in Tanzania’s burgeoning uranium sector and Namibia’s Uis Lithium Project. The funds will also support general working capital. The company recently acquired the Matemanga Uranium Project in Southern Tanzania, located near the Nyota Uranium Mine, and the Eyasi Uranium Project in Northern Tanzania. Both projects exhibit significant radiometric anomalies, highlighting strong potential for uranium mineralization. Askari is conducting due diligence to expand its Tanzanian uranium portfolio further, aiming for district-scale development.

Director Gino D’Anna emphasized the company’s strategic move into high-demand uranium and its vision for African exploration. Askari is also exploring divestment strategies for its Australian assets. The placement will fund continued project expansion, with settlement expected by 10 January 2025, marking an exciting growth phase for the company.

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