OVERVIEW
18 May 2016
ASX RELEASE
18 May 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
18 May 2016
Shares on Issue: 187,859,273 Quoted shares: 187,859,273
Unlisted Options: 9,650,000
INVESTOR INQUIRIES
[email protected]
SHARE PURCHASE PLAN (SPP) RESULT
and
EXTRAORDINARY GENERAL MEETING DATE
UraniumSA is pleased to advise that the SPP as detailed in ASX release dated 15 April 2016 raised $399,050 which is in line with the Company's fund raising objective. The funding will assist in the facilitation of the proposed demerger of the Samphire Uranium Project Assets (ASX 6 April 2016) and identification of new business opportunities for the Company.
UraniumSA will be mailing and releasing to ASX on Friday, 20 May 2016, a detailed notice of meeting for shareholders to consider the proposed demerger of the Samphire Uranium Project Assets.
The extraordinary general meeting date is Wednesday, 22 June 2016.
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
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About UraniumSA Limited
UraniumSA is an Adelaide based explorer specialising in uranium mineralisation within a substantial portfolio of properties in South Australia's Gawler Craton.
The Company has discovered sediment hosted uranium mineralisation within Exploration Licence 4979, Samphire, which is located 20km south of the industrial city of Whyalla on the eastern Eyre Peninsula in South Australia. The Exploration Licence is owned and operated by Samphire Uranium Pty Ltd, a wholly owned subsidiary of UraniumSA Limited.
The Samphire project contains the:
Blackbush deposit with an estimated inferred resource 64.5 million tonnes of mineralisation at a bulk grade of 230ppm containing 14,850 tonnes U3O8 at a 100ppm eU3O8 cut-off grade (JORC 2012).
Plumbush deposit with an estimated inferred resource 21.8 million tonnes of mineralisation at a bulk grade of 292ppm containing 6,300 tonnes U3O8 at a 100ppm eU3O8 cut-off grade (JORC 2004).
On 6 April 2016 the Company announced a proposal that involves the demerger of a restructured Samphire Uranium Pty Ltd to Samphire Uranium Limited ('SUL') as a separate standalone unlisted public company. SUL is the owner of the Samphire Project Uranium Assets. Subject to shareholder approval the demerger will result in the following structure with UraniumSA shareholders owning shares in both entities pro-rata to their holding in UraniumSA at the time.
ORGANISATION STRUCTURE - 2016 (Post - Proposed Demerger)
A B
UraniumSA Limited
(ASX code: USA Ultimate Holding Co.)
Samphire Uranium Limited
(unlisted Public Company)
Fatjack Pty Ltd (100%)
Boston Minerals Pty Ltd (100%)
Angus Resources Pty Ltd (100%)
Function
Corporate strategy and delivery, finance and asset management/asset holder
Function Subsidiary holding exploration assets
Function Subsidiary holding exploration assets
Function
Owner of Samphire Project, exploration for uranium and base metals
Function
owner and operator of plant and equipment
Assets
100% Fatjack Pty Ltd
100% Boston Minerals Pty Ltd
Assets
EL4694 - Muckanippie (basement complex)
Assets
Cleve Project
ELA 2015/00113 - Sheoak Hill
ELA 2015/00114 - Lock
Cariwerloo Project
ELA 2015/00126 - Whymlet
Assets
Samphire Project (host of Blackbush & Plumbush deposits)
EL4979 - Mullaquana
EL5426 - Midgee (JV Hiltaba) EL5440 - Murninnie
EL4693 - Wild Horse Plain (JV Pirie Resources Pty Ltd) (100% interest in JV Uranium)
Samphire - Nonowie pastoral leases
100% Angus Resources Pty Ltd (owner of plant & equipment)
Assets
Backfill And rehabilitation plant, down hole geophysical logging plant
The exploration results and mineral resources reported herein, insofar as they relate to mineralisation, are based on information compiled by Mr Russel Bluck a Director of UraniumSA Limited and Member of the Australian Institute of Geoscientists with sufficient experience relevant to the style of mineralisation and type of deposits being considered, and to the activity which is reported to qualify as a Competent Person as defined by the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code, 2012 Edition). Mr Bluck consents to the inclusion in the report of matters based on his information in the form and context in which it appears. It should be noted that the abovementioned exploration results are preliminary.
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