Atomic Eagle secures Niger mining agreement for uranium project

• Atomic Eagle agreed to terms for a mining convention with Niger to regain control of the Madaouela Uranium Project.
• The company's stock jumped 19.57% to $0.55 following the market update.
• The deal creates a dual-asset platform alongside its existing flagship project to expand production capacity.

Atomic Eagle (ASX:AEU) has executed an agreement with the Republic of Niger to re-establish its interest in the Madaouela Uranium Project, which contains an estimated 116.5 million pounds of triuranium octoxide.

The agreement grants a new exploitation permit to Madaouela Mining Company SA, providing the company with a 60% controlling interest while the state holds 40%.

Under the framework terms, the arrangement incorporates tax stabilisation provisions and legal protections to secure project off-take agreements.

The site is supported by roughly 600,000m of historic drilling and approximately US$160 million in prior investments.

Following the announcement, the Atomic Eagle share price was up at $0.55.

The transaction adds scale to the business alongside its 58.8 million pound resource at the flagship Muntanga project in Zambia.

The company stated that the secondary asset increases strategic flexibility to evaluate development, funding, and optimisation pathways.