PHOENIX, Oct. 05, 2018 (GLOBE NEWSWIRE) -- GoviEx Uranium Inc. (TSX-V: GXU; OTCQB: GVXXF) (“GoviEx” or “Company”) is looking to a better uranium market on the horizon. Daniel Major, Chief Executive Officer, talked with Stock Day’s Everett Jolly about what sets GoviEx apart from competitors.
“We have three major projects with a very large total mineral resource, but more importantly, two fully-permitted projects. So, based on what we see in the improving uranium price, we can start to move towards development and look for leverage, not only on that uranium price, but also as GoviEx moves towards becoming a producer.”
The uranium development company has all of its projects in Africa. Major said that GoviEx recently has put more resources towards technology and has added an extra property to the project in Zambia. Jolly then noted that uranium prices are down right now, but showing signs of recovery. He asked Major what GoviEx has to offer to investors at this time. Major said it’s about how advanced their project is.
“We’ve got an advanced uranium project. We think uranium prices are on the turn. We’ve already seen a steady tick up this year – up from 20 dollars per pound to 27 dollars.” He also reiterated that two of their projects are fully permitted, which can take some companies ten to fifteen years to achieve. “Our projects are ready to go. We are already talking to the banks and working on a feasibility study for our Madaouela Project in Niger.”
Jolly wanted an outlook from Major on the uranium market and a general idea of what types of industry use uranium.
“Uranium is used almost exclusively for the production of energy in nuclear reactors,” said Major. He explained that Japan, China, India and the African nations are beginning to drive the market for nuclear energy. “It is one of the cheapest clean energy sources out there,” he explained.
“You’ve got a market looking at a supply deficit now and it needs a much higher price to justify projects,” he said. “That’s where GoviEx comes in. We’ve got projects ready to fill the growing supply gap.”
For the full interview on where the uranium industry is headed and how GoviEx fits in to the market, listen to the podcast here: https://upticknewswire.com/featured-interview-ceo-daniel-major-of-goviex-uranium-inc-otcqb-gvxxf/
About GoviEx Uranium
GoviEx is a mineral resource company focused on the exploration and development of uranium properties. GoviEx’s principal objective is to become a significant uranium producer through the continued exploration and development of its Mine Permitted Madaouela Project and its other uranium properties in Africa.
For more information go here: www.goviex.com
Contact:
Govind Friedland, Executive Chairman
Daniel Major, Chief Executive Officer
+1 604-681-5529
info@goviex.com
This release may contain forward-looking information within the meaning of applicable securities laws. All information and statements other than statements of current or historical facts contained in this release are forward-looking information. Such statements and information may be identified by words such as "about", "approximately", "may", "believes", "expects", "will", "intends", "should", "plans", "predicts", "potential", "projects", "anticipates", "estimates", "continues", or similar words or the negative thereof or other comparable terminology. Forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in GoviEx's periodic filings with Canadian securities regulators. Information provided in this release is necessarily summarized and may not contain all available material information.
Forward-looking statements include, without limitation, statements regarding the expected timing of the development and potential advancement to production of GoviEx’s mine-permitted projects, the expected recovery of the market price of uranium, and anticipated direct and indirect effects of an increasing uranium market price on GoviEx’s ability to advance its mine-permitted projects towards production.
Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which GoviEx operates, are inherently subject to significant operational, economic, and competitive uncertainties and contingencies. There can be other factors that cause results, performance, or achievements not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances, or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this release are made as of the date of this release, and GoviEx disclaims any intention or obligation to update or revise such information, except as required by applicable law.
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SOURCE:
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