E 08/1609 is situated 300km south-west of Karratha in the Ashburton region of Western Australia, which covers 169 square kilometers comprising uranium deposit, and is also known for copper, lead, zinc and gold.
The company has also agreed to increase its stake to 49% by acquiring an additional 24% interest in the Niger Project. Artemis has the right to increase its interest in the project to 51%. The Niger Project comprises two uranium tenements in Niger, West Africa, Tag II and Tag IV.
The Niger Project, which is a home to two uranium mines producing 12% of the world’s uranium supply, is situated in the Tim Mersoi Basin in North-East Niger. The Tag II and Tag IV tenements, that are situated adjacent to another major uranium deposit “Teguidda”, cover around 1,000 square kilometers.
The company has agreed to acquire 100% of its 51% owned subsidiary, Arminco, which holds 49% stake in the Niger Uranium Project.
