A-Cap Energy Limited – ASX: ACB, OTCMKTS: APCDF, FRA: VUT.F
A-Cap Energy Limited (Stock Symbols – ASX: ACB, OTCMKTS: APCDF, FRA: VUT.F) is an Australian mineral exploration and development company. The company focuses on conducting greenfield base metals exploration for uranium, coal, nickel, cobalt, and base metal deposits.
The company holds 1 mining license for the flagship Letlhakane uranium project and 12 prospecting licenses covering approximately 8,499 square kilometers situated in Botswana.
Its property portfolio comprises the Letlhakane Uranium project located in the Republic of Botswana, Africa, and the Wilconi Nickel-Cobalt Project located in Western Australia.
Inclusion in Global X Uranium ETF
A-Cap Energy Limited has been added to the Global X Uranium ETF (NYSE:URA), one of the world’s largest and most well-known uranium ETFs. With around US$1.18 billion in net assets, the Global X Uranium ETF provides investors with exposure to companies involved in uranium mining and the production of nuclear components.
Traded on Multiple Exchanges
A-Cap Energy is traded on two public stock exchanges: the Frankfurt Stock Exchange and the Botswana Stock Exchange. A-Cap Energy Limited has been listed on the Frankfurt Stock Exchange since May 2019, and on the Botswana Stock Exchange since September 2006.
Letlhakane Uranium Project
The Letlhakane Uranium Project is located approximately 80 kilometers (49 miles) from the town of Francistown in Botswana.
The Letlhakane Project is one of the world’s ten largest undeveloped Uranium deposits. The project is located close to important transportation routes in Botswana, including a sealed all-weather highway, railway line, and national power grid. These transportation routes will help keep the costs of future developments low.
The Letlhakane Project was granted a Mining License on September 12, 2016. The licence is valid for 22 years. The Department of Environmental Affairs approved the project’s Environmental Impact Statement on May 13, 2016. Provisional surface rights were granted on June 6, 2016.
On July 10, 2017, a letter was sent to the Department of Mines (DoM) to say that the pre-construction and construction period would be delayed by two years. On September 20, 2017, the Company received a letter from The Botswana Minister of Mineral Resources, Green Technology and Energy Security formally advising the Company that the amendment to the program of works for Mining Licence 2016/16L was approved.
Due to market conditions, once again, the Company sent a request to amend the start date and received a letter from the Botswana Minister of Mineral Resources, Green Technology and Energy Security confirming that the amendment was approved. The amended date for the commencement of the pre-construction and construction period is 30th October 2021 which was then approved to push the start of construction to 30th September 2024 by amending a condition of the granted Mining Licence.
A-Cap Energy is keeping its Letlhakane Project going by using a small team in Botswana. This way they can keep the license and stay in good communication with the local communities. There has been some increase in the price of uranium this year, which is a good sign for the future since there will be more demand than supply.
Amazingly, the Letlhakane deposit is a very large deposit with a joint ore reserves committee (JORC) resource of approximately 365.7 million pounds U3O8. This includes a high-grade resource of approximately 103 million tons at 450 parts per million (ppm) U3O8. As uranium prices rise, the market cap (market capitalization) of this company should increase measurably.
A-Cap Energy provides the following global uranium resource chart on their website:
The flagship Letlhakane project is planned as an open pit mine. The mine is planned to produce up to 3.75 million pounds of uranium per year once in production. The project has an estimated mine life of 18 years.
Did we mention that this project is among the top 10 undeveloped uranium deposits on Earth?
Environmental Impact Statement Status
The Letlhakane Project has passed a major milestone, with the Environmental Impact Statement (EIS) being approved by the Botswana Department of Environment Affairs (DEA) in May 2016. This is an important requirement for A-Cap, as it moves closer to securing a mining license for the project.
Botswana Will Benefit
A-Cap remains committed to developing the Letlhakane Project, with the support of key stakeholders, as the first uranium mine in Botswana. A-Cap is dedicated to maintaining excellent relationships with all Botswana stakeholders, through regular meetings and engagements with all ministerial departments and communities. Botswana is a stable, multi-party democracy that has been in place since 1966. The country has a skilled mining workforce and the highest GDP per capita in Africa. Mining accounts for 40% of the current GDP and is critical for continued economic growth.
Wilconi Nickel-Cobalt Project
The company’s Wilconi Nickel-Cobalt Project is its first nickel-cobalt laterite project. This project is located approximately 700 kilometers (435 miles) from Perth, Australia.
Ownership Interest
Through a definitive farm-in joint venture with Blackham Resources, A-Cap Energy will secure a 75% interest in the project. This project is in the Wiluna region and has had several prior explorers evaluating the potential of the region.
Project End Customers
The Wilconi Project will focus on supplying cobalt and nickel materials to the global electric vehicle (EV) market by establishing key strategic and commercial relationships to take advantage of new materials processing and refinery technologies, particularly in the production of cobalt and nickel sulfates products used directly in battery manufacture. This will help to ensure a reliable and affordable supply of these important materials for the burgeoning EV market.
Deposit Details
The Wiluna nickel-cobalt deposit is located in a region known as the Archaean Norseman-Wiluna greenstone belt. This belt is home to many different types of nickel-cobalt mineralization, including the Wiluna deposit. This deposit is formed through lateralization of the Perseverance ultramafic sequence and extends along strike for around 20 km and is up to 1,500 m wide.
Updated Resource
A-Cap Energy (A-Cap) has upgraded the Wilconi Ni-Co resource, with parts of the resource now reported as Indicated. The upgrade is a result of a 256 RC infill drilling program conducted in 2021.
A-Cap Energy Limited (formerly A-Cap Resources Limited) is based in West Perth, Australia.
While considering this individual company, also take a look at these other uranium stocks to include in your portfolio.
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A-Cap Energy Limited - ASX: ACB, OTCMKTS: APCDF, FRA: VUT.F
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