Atomic Eagle evaluates development opportunities at Madaouela
- Atomic Eagle secured a 60% controlling interest in the 116.5 million pound Madaouela Uranium Project following agreement execution with the Republic of Niger.
- The transaction formally resolves historical arbitration proceedings while strengthening the company's African asset portfolio alongside its flagship Muntanga Project.
- Atomic Eagle stated it plans to evaluate technical options to support larger-scale development pathways at the site.
Atomic Eagle (ASX:AEU) executed a mining convention with the Republic of Niger to re-establish a 60% controlling stake in the 116.5 million pound Madaouela Uranium Project.
The agreement formalises commercial resolution terms reached in August, restoring operational control over the deposit located in northern Niger's Tim Mersoi Basin.
"Madaouela is already an advanced uranium development project supported by extensive drilling, engineering and feasibility work completed previously by GoviEx," said Atomic Eagle CEO Phil Hoskins.
Under the joint venture structure, Atomic Eagle holds 60% ownership, while the Republic of Niger holds the remaining 40% interest through a 15% free-carried share and a 25% contributing share.
Following the announcement, the Atomic Eagle share price was unchanged at $0.49.
The company stated that both parties agreed to discontinue historical ICSID arbitration proceedings as part of the legal and fiscal framework.
The foreign mineral resource estimate at Madaouela contains 116.5 million pounds of triuranium octoxide at an average grade of 1,282 parts per million.
