Mining
Basin Energy is a uranium exploration and development company with an interest in three highly prospective projects positioned in the Southwest corner and margins of the world-renowned Athabasca Basin in Canada.
- North Millennium – The initial target is an interpreted extension of the Millennium Mother Fault intersecting a strong basement conductor. The project is located 7KM north of Cameco’s Millennium Deposit which contains 104.8Mlb U3O8 at 3.76%
- Geikie – Located on the eastern fringe of the basin, adjacent to recent exploration success by 92Energy and Baselode Energy. Historically largely overlooked, the initial targets are from surface. Six initial targets have been prioritised using existing geophysical and geochemical data.
- Marshall – Interpretation of historic geophysical data suggests a metasedimentary basin with a graphitic basal unit, cross cut by a magnetic and conductive NE/SW structure – indicative if a geological setting suitable for high-grade uranium mineralisation. The project is located 10KM west of the Millennium Deposit.
Basin Energy have formed an exemplary management team with direct experience in uranium exploration and development. Blake Steele, non-executive chairman, brings both corporate and management experience within the uranium sector, as the former President and CEO of recently acquired Azarga Uranium Corp, which he led for nearly a decade. Peter Moorhouse, managing director and geologist, brings 17 years of mining and exploration experience, predominantly within the uranium sector. Additional geology, corporate financing and investment banking experts create a well-rounded team ready to capitalise on the company’s projects
Basin Energy has a clear exploration strategy for each of its projects which will bring strong newsflow with the immediate commencement of field activity, geophysical data processing and target generation work across all three projects, with a maiden drilling campaign at Geikie targeted for Q1-CY2023. The company is highly leveraged to exploration success with a market capitalisation of A$16.2 million at the IPO issue price of A$0.20 per share and strong cash balance of A$9.6 million (enterprise valuation of A$6.6 million) upon listing. Substantial shareholders on listing include CanAlaska Uranium Ltd (TSX V:CVV) (19.9%), prominent North American and Asia Pacific resource funds (14.8%), and Board, Management & Founders (7.9%).
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