Uranium veteran takes the reins at Okapi

Okapi has enhanced its uranium credentials with the appointment of veteran mining executive Andrew Ferrier as its new managing director.

This is timely given the company’s recent uranium-centred moves such as the acquisition of six advanced uranium exploration projects in Canada’s Athabasca basin and definition of a maiden JORC resource at its Tallahassee uranium project in Colorado.

Ferrier has more than 15 years of experience in both management, corporate finance and principal investing roles in the global mining sector including senior roles for mining-focused private equity investment firm Pacific Road Capital.

More importantly for Okapi Resources (ASX:OKR), he has significant knowledge and understanding of the North American uranium space thanks to his heavy involvement in the development, permitting and sale of the Reno Creek ISR Uranium project in Wyoming, the largest permitted preconstruction ISR project in the US.

“The board is delighted to secure Andrew as Okapi’s managing director. Andrew is an exceptional leader with a successful track-record of identifying, developing and selling North American uranium assets,” chairman Peretz Schapiro said.

“Andrew has a deep understanding of global capital markets and is ideally placed to execute Okapi’s strategy of becoming a new leader in North American carbon-free nuclear energy.

“The board is confident that Andrew has the necessary experience and skill set to optimise Okapi’s existing assets and to maximise its strategic options so as to deliver shareholder value.”

Executive director David Nour will retire at the company’s upcoming annual general meeting on 30 November 2021.

Uranium assets

Okapi’s Tallahassee uranium project covers 7,500 acres in the Tallahassee Creek Uranium District and hosts a maiden resource of 25.4 million tonnes at 490 parts per million uranium oxide for 27.6 million pounds of U3O8.

This has potential for resource growth given that much of the ground is either untested or poorly tested by drilling.

Its recently acquired projects in Canada are also highly prospective given that they are located on the margin of the Athabasca Basin, which hosts large, high-grade uranium mines such as Cameco’s McArthur River and Cigar Lake mines.

Adding interest, the target unconformity that hosts the uranium mineralisation is relatively shallow in this area.

The company also has the option to acquire 100% of the high-grade Rattler Uranium Project in Utah, which includes the historical Rattlesnake open pit mine.

This article was developed in collaboration with Okapi Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.