Australian uranium explorer Marenica Energy (ASX: MEY), is putting a resolution to shareholders to change its name to Elevate Uranium Limited with the ASX listing code to change to EL8.

 The proposed new name was chosen to better reflect the company’s current activities, and to put focus on the company’s exploration, discovery and development of uranium resources in both Namibia and Australia.

The name conveys the benefits of Marenica’s U-pgrade^TM uranium beneficiation process. This patented technology elevates the grade of surficial uranium ore and reduces processing costs.

The name change also serves to elevate public understanding of uranium’s ability to produce a safe, carbon-free energy source to improve global living standards.

After a busy year, where the Company reached important milestones such as the discovery of Hirabeb, the proof of concept of their U-pgrade^TM test work program on Angela and a successful capital raise in October last year, the name change is an important next step for the company as it develops and grows beyond its ownership of the Marenica Uranium Project in Namibia. 

The company’s proposal to change its name was released only days after they announced the commencement of an extensive airborne electromagnetic survey over 1500 square kilometres of its uranium tenements in the Namib Area of Namibia, an area that hosts the Koppies and Hirabeb uranium discoveries and the recent discovery of a palaeochannel system at Namib IV.

Marenica’s Managing Director, Murray Hill, commented that “The commencement of the airborne electromagnetic geophysical survey marks an acceleration of our exploration efforts in Namibia.”

The survey commenced in April 2021 and is expected to take three months to finish. The purpose is to outline palaeochannels and identify fresh exploration drilling targets in the area.

“The EM survey will include Hirabeb where we have identified a palaeochannel longer than the width of the English Channel,” Hill said.

Marenica is now the holder of the largest, highly prospective uranium exploration leases in Namibia with a number of exciting projects underway.

Interested In Uranium? Speak to one of our advisors for details about similar investments in this area.

Reach Markets have been engaged by MEY to help manage their investor communications.

Sources:

• ASX: MEY announcement 12 April 2021
• ASX: MEY announcement 9 April 2021
• Stockhead: Marenica Energy’s airborne survey of its Namibia project takes off
• Marenica Energy: Share Price and Announcements