Gladiator Resources (ASX:GLA) is seeking to divest its Tanzanian assets including the Mkuju Project, which comprises the South-West Corner, Mtyona, Likuyu North and Foxy prospects.
The company is currently in discussions with several groups to purchase the uranium assets, strengthening its balance sheet.
Gladiator will use the proceeds of the sale to focus on the company’s US-based rare earth assets.
Parties are expected to make offers in the coming months according to a statement provided to the ASX earlier today.
Gladiator’s landholdings is proximal to the Uranium One’s Nyota Project, which has retained more than $1.2 billion in investments.
In July, Uranium One commissioned a pilot processing facility that intends to process up to 3,000 tons of uranium annually.
Gladiator Resources is a uranium explorer focused on advancing its current portfolio of assets, while also assessing other opportunities that align with the global shift to clean energy.
Write to Maddison Elliott at Mining.com.au
Images: Gladiator Resources
