Energy Ventures: Umine Uranium Project and Big Apple Gas Prospect

Prominence Energy (ASX: PRM) has secured AU$1.55 million for its Umine Uranium Project Investment in Kazakhstan and the advancement of the 100% owned Big Apple Gas Prospect. The investment aims to propel existing projects forward, including the farm-out activities at Big Apple. PRM plans to invest US$200,000 in Umine LLP, a Kazakh company, acquiring a 20% equity interest.

Umine intends to rehabilitate the abandoned Djideli Uranium processing site to produce and sell Uranium. Notably, Djideli was a high-grade uranium mining site from 1972 to 1985. The project is significant as it combines energy production with environmental remediation. Umine's approach aligns with carbon-free electricity generation goals. The funds raised will also facilitate PRM's exploration of new ventures, ensuring adequate working capital for future endeavors.

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