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UraniumSA Limited

Publié le 15 avril 2016

Quarterly Activities Report

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Quarterly Activities Report

OVERVIEW


15 April 2016


ASX ACTIVITIES REPORT

3 months ended:

31 March 2016


UraniumSA Limited ("UraniumSA")

ASX Code: USA


ABN 48 119 978 013

Ground Floor

28 Greenhill Road

Wayville SA 5034

Phone +61 8 8132 0577

Fax +61 8 8132 0766

www.uraniumsa.com.au [email protected]


BOARD OF DIRECTORS


Alice McCleary Chairman Martin Janes Director Russel Bluck Director & Geoscience Manager

David Paterson Director & Acting CEO


PROJECTS

South Australia

Samphire ELs 4979, 5426 JV

Blackbush MC 4280

Murninnie EL 5440

Wild Horse Plains EL 4693 JV Muckanippie EL 4694


ISSUED CAPITAL

15 April 2016

Shares on Issue: 187,859,273 Quoted shares: 187,859,273

Unlisted Options: 9,650,000


INVESTOR INQUIRIES

[email protected]


Inquiries regarding this report and company business may be directed to:

David Paterson - Acting CEO

+61 8 8132 0577

+61 417 823 654

VISIT OUR WEBSITE

www.uraniumsa.com.au



SAMPHIRE PROJECT & EXPLORATION

Work continued on the Blackbush deposit with ongoing investigative metallurgical work being a focus along with examination of the relationship between basement-hosted and sediment-hosted uranium mineralisation.

Other work involved interpretation of historical exploration results relevant to three exploration licence applications, ELA's 2015 / 00113, 00114 and 00126.

CORPORATE

UraniumSA directors have for some time considered a demerger of the Samphire Project Uranium Assets. In a release to ASX (6th April 2016) the directors proposed a significant restructure of the company through the demerger of a restructured Samphire Uranium Pty Ltd (Samphire or SUPL), the owner of the Samphire Project Uranium Assets (refer Fig 1 and proposed organisation structure page 5), to a separate standalone unlisted public company Samphire Uranium Limited ('SUL'). Subject to shareholder approval, shareholders in UraniumSA will receive a pro-rata in-specie distribution of shares in SUL.

More detail of the proposal including an indicative timetable, is provided in the ASX release of 6th April 2016.

UraniumSA believes that a demerger transaction is now the best means of maintaining the value of the Samphire Project Uranium Assets at a reduced cost inside SUL as an unlisted public company. This will leave the listed entity UraniumSA to continue its other exploration initiatives and pursue other value adding activities.

The proposed restructure will include the completion of two capital raisings (refer Finance section below) to fund working capital and ensure that UraniumSA and SUL have sufficient funds, management structures and operational flexibility to support their ongoing activities.

New Projects - UraniumSA has for many quarters indicated that it was seeking and evaluating other opportunities in the energy and wider resources sector. This process continues and has been extended to businesses outside the resources sector.

FINANCE

UraniumSA has today released full details of a Share Purchase Plan (SPP) focussed on raising approximately $400,000. Each Shareholder will be entitled to subscribe for additional shares in the company to a maximum value of

$15,000. SPP shares will participate in the proposed demerger.

Taylor Collison are Broker to the SPP and have been mandated to raise $1.0 million by way of a placement post the proposed demerger. Shareholder approval will be sought for the placement.

During the period the terms of the secured convertible debit facility were re- negotiated and extended with a new expiry of the 3rd May 2018. (ASX 1st March 2016) A $100,000 drawn down occurred in March. (ASX 11th March 2016).

Exploration expenditure for the period was $32,000. Cash position at the end of the period is $136,000. The convertible debt facility is fully drawn at $300,000.

Estimated expenditure for the June 2016 quarter is $150,000.


1

ACTIVITIES

Refer to Figure 1: - Tenement Location Map.


SAMPHIRE EXPLORATION ASSETS - assets of SUL post merger approval

Exploration interests which are owned by SUPL (a wholly owned subsidiary of UraniumSA) comprise:

  • MULLAQUANA - EL 4979) 100%. Covers the Blackbush and Plumbush sediment-hosted uranium deposits and other named and un-named uranium and base metal prospects.


  • MURNINNIE - EL 5440 100%. Covers a prospective portion of the western margin of the Pirie Basin.


  • MIDGEE - EL 5426 in joint venture with Stellar Resources Limited (ASX: SRZ), 73% interest. Covers the southern extensions of the Plumbush deposit which remains open and undrilled to the south and west.


  • WILD HORSE PLAIN - EL 4693 in joint venture with Archer Exploration Limited (ASX: AXE) 100% of uranium only. The title covers the Ben Buy and Boothby unconformity style uranium prospects.


    Activities

    No field work was carried out during the period.

    Work has continued on the Blackbush deposit (EL 4979) with ongoing investigative metallurgical work, conceptualisation of alternative mining methods, and examination of the relationship between basement-hosted and sediment-hosted uranium mineralisation.

    A PhD research project focused on uranium mineralisation associated with the Samphire granite commenced at Adelaide University at the start of the academic year. The student was selected following an international competitive process and has commenced familiarising himself with the geology and data available for the Samphire Project. We look forward to a productive ongoing collaboration with Adelaide University and the student.

    SUPL was successful in April 2015 in securing a South Australian State Government PACE Discovery drilling grant of $65,000 (ASX 14 April 2015). Unfortunately it has not been possible to advance the drill program with the stipulated timeframe.

    Work was re-focussed on the Blue Well Dam base metal prospect within EL 4979 at the end of the quarter. Potential exists for assistance from the South Australian State Government (DSD Minerals - PACE Copper Initiative) to part fund drilling and some other related costs. SUPL plans to lodge an application before the end of April 2016.

    Stellar Resources lodged a standard renewal with the regulator for EL 5426 on 22 February 2016.

    Figure 1: Map of central South Australia showing UraniumSA's existing tenements and applications.

    OTHER EXPLORATION ASSETS - continuing UraniumSA assets post merger approval

  • MUCKANIPPIE - EL 4694 is owned 100% by Fatjack Pty Ltd, a wholly owned subsidiary of UraniumSA. The tenure covers the Wigetty prospect which is an ilmenite-magnetite-apatite deposit, the historic Malbooma gold working and other un-named gold prospects, and various base metal and rare earth element prospects. UraniumSA has also progressed exploration on prospects referred to as Satisfaction Bore and White Nose Bore.


    Activities

    No fieldwork was carried out during the period. Identification of potential JV partners continued.


  • WHYMLET - ELA 2015/00126 was made by Boston Minerals Pty Ltd (Boston), a wholly owned subsidiary of UraniumSA Limited. The area has been offered and negotiations with the regulator to accept a reduced area are progressing. The area covers basement complex and cover sequence targets which are prospective for IOCGU, black-shale hosted and unconformity styles of mineralisation.


    Activities


    Work was carried out during the period continuing interpretation of past exploration results with a view to outlining an initial exploration program.


  • SHEOAK HILL and LOCK - ELA's 2015/00113 and 2015/00114 were made by Boston.

Negotiations with the regulator to reduce the application areas and amalgamate the applications continue. The area covers the Driver River airborne radiometric anomaly and the titles are prospective for unconformity style uranium mineralisation.


Activities


No field work was completed during the period. Interpretation of past exploration results with a view to outlining an initial exploration program continued.

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UraniumSA Limited

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UraniumSA est une société d’exploration minière d'uranium basée en Australie.

Ses principaux projets en exploration sont KINGOONYA, TARCOOLA, MUCKANIPPIE et MULLAQUANA en Australie.

UraniumSA est cotée en Australie. Sa capitalisation boursière aujourd'hui est 2,8 millions AU$ (2,1 millions US$, 1,8 millions €).

La valeur de son action a atteint son plus haut niveau récent le 21 janvier 2011 à 0,70 AU$, et son plus bas niveau récent le 11 octobre 2017 à 0,01 AU$.

UraniumSA possède 349 549 984 actions en circulation.

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Rapports annuels de UraniumSA Limited
ASX Announcement - Annual Report to Shareholders
ASX Announcement - Annual Report to shareholders
2009 Annual Report
Financements de UraniumSA Limited
14/09/2016Placement
14/09/2016placement
Attributions d'options de UraniumSA Limited
04/03/2011Lapsed options and Unlisted options on issue
Nominations de UraniumSA Limited
21/05/2009appointed BGF Equities as manager
Rapports Financiers de UraniumSA Limited
30/09/2013ASX Announcement - Annual Financial Report 2013
Projets de UraniumSA Limited
25/10/2013ASX Announcement - Targeting High Grade Uranium
27/09/2013ASX Announcement - Samphire Project Update
25/07/2012ASX Announcement - Enhanced Confidence for Samphire Uranium ...
13/06/2012ASX Announcements - AusIMM International Uranium Conference ...
29/05/2012ASX Announcement - Energy Resources Roadshow 2012 - Presenta...
29/05/2012ASX Announcement - High Grade Focus
15/05/2012ASX Announcement - High Grade Uranium
18/04/2012ASX Announcement - Continuation of Drilling
21/03/2012ASX Announcement - High Grade Uranium
15/02/2012ASX Announcement - Commencement of Drilling
22/06/2011(Mullaquana)UraniumSA finalises drill pattern construction for its Mulla...
15/04/2011ASX Announcement - Blackbush Land Purchase
14/04/2011ASX Announcement - Amendment:Plumbush Maiden Resource Estima...
08/04/2011ASX Announcement - Plumbush Maiden Resource Estimate
24/03/2011(Mullaquana) Extraction of Uranium from Saline Water and Paydirt Uranium...
22/02/2011(Mullaquana)Commonwealth Referral Decision
02/12/2010ASX Announcement - Resource Estimate Increase
02/12/2010UraniumSA increases resource estimate at its Blackbush Prosp...
20/01/2009(Mullaquana)highlights new mineralised basin at Eyre Peninsula project
17/04/2008(Mullaquana)ADVANCING THE MULLAQUANA DISCOVERY
02/01/2008(Mullaquana)MULLAQUANA – DRILLING TO END OF 2007
Communiqués de Presse de UraniumSA Limited
18/07/2016Section 708A Notice
05/07/2016Final Demerger Detail
22/06/2016Funding Facility update and Appendix 3B
22/06/2016160622_section708notice_lmc shares.pdf
22/06/2016Section 708A Notice
17/06/2016Demerger Update
20/05/2016Notice of Extraordinary General Meeting/Proxy Form
17/05/2016Share Purchase Plan Result and EGM Date
13/05/2016Extraordinary General Meeting - ASX Waiver
03/05/2016Share Purchase Plan - Extension to Closing Date
03/05/2016160503_sppextension to closing date asx release.pdf
15/04/2016160415_uraniumsa_ltd_spp_offer_documents_final.pdf
15/04/2016Quarterly Activities Report
06/04/2016Demerger of Samphire Project Uranium Assets
29/01/2016Quarterly Activities Report
11/01/2016Section 708A Notice
20/12/2015FUNDING FACILITY - Drawdown $100,000
03/11/2015Change of Directors Interest Notice_x2
19/10/2015Annual General Meeting - ASX Waiver
28/09/2015Securities Trading Policy
28/09/2015Appendix 4G and Corporate Governance Statement
31/07/2015Quarterly Activities Report
28/07/2015FUNDING FACILITY - Tranche 1 Drawdown $100,000
03/07/2015Secion 708A Notice
03/07/2015Appendix 3B
14/04/2015PACE Grant Approval From South Australian Government
25/02/2015Half Yearly Report and Accounts
30/01/2015Quarterly Activities Report
13/01/2015Appendix 3B
12/01/2015Section 708 Notice
25/11/2014Section 708 Notice
21/11/2014Chairman's Address to Shareholders
14/11/2014WILD HORSE PLAIN EL4693 TRANSFER
24/10/2014Quarterly Activities Report
26/03/2014Samphire Metallurgy Update
12/02/2014ASX Announcement - Director's Statement - Wigetty
12/02/2014ASX Announcement - Maiden Exploration Target - Wigetty
28/11/2013ASX Announcement - Chairman's Address to Shareholders
27/11/2013ASX Announcement - Mining South Australia Conference 2013 - ...
28/10/2013ASX Announcements - Quarterly Activities Report and Quarterl...
26/10/2013ASX Announcement - Notice of Annual General Meeting/Proxy Fo...
24/10/2013defines new high grade uranium at Whyalla project in SA
01/08/2013ASX Announcements - Quarterly Cashflow Report and Quarterly ...
01/05/2013ASX Announcement - Samphire Granite Update
29/04/2013ASX Announcement - Paydirt Uranium Conference 2013 - Present...
26/04/2013ASX Announcements - Quarterly Cashflow Report and Quarterly ...
31/01/2013ASX Announcements - Quarterly Activities Report and Quarterl...
24/10/2012ASX Announcements - Chairman's Address to Shareholders, AGM ...
22/10/2012ASX Announcements - 5B Quarterly and Quarterly Activities Re...
04/10/2012ASX Announcement - MOU with Clean TeQ
11/09/2012ASX Announcement - Retirement of Director
13/07/2012ASX Announcements - Quarterly Activities Report and Quarterl...
27/04/2012ASX Announcements - Quarterly Activities Report and Quarterl...
01/03/2012ASX Announcement - Paydirt Uranium Conference 2012 - Present...
03/05/2011ASX Announcement - Appendix 3B
29/04/2011ASX Announcements - Quarterly Activities Report and Quarterl...
28/04/2011ASX Announcement - Issue of unlisted options to an employee
14/04/2011ASX Announcement - Uranium and Rare Earth Roadshow Presentat...
24/02/2011ASX Announcements - Broker and Investor Presentation and Med...
23/02/2011ASX Announcement - Unlisted Share Options Issued
14/02/2011ASX Announcement - Appendix 3B
11/02/2011ASX Announcement - Half Yearly Accounts
26/01/2011 - Placement of shortfall and Appendix 3B
09/10/2009USA ASX release
10/09/2009Listed Bonus Options Expiring 18 January 2010
20/08/2009Release - UraniumSA expands new uranium 'district'
17/07/2009 June quarterly report
09/07/2009Presentation 9th July 2009
03/07/2009UraniumSA Share Placement
19/06/2009USA JV release - JV Prospectivity
12/06/2009USA ASX release
26/05/2009Rights issue
20/05/2009Research report says UraniumSA shares undervalued
19/05/2009discovery in Sth Australia has gone unnoticed
23/01/2009Complement person statement
12/03/2008Two uranium trends confirmed near SA's Whyalla
04/07/2008PROMOTIONAL FLYER
17/04/2008UNLISTED EMPLOYEE OPTIONS CANCELLED
17/04/2008THREE JOINT VENTURES TO EXTEND URANIUM EXPLORER
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