Five mining companies listed on the Namibia Stock Exchange are among the top 10 best performers for 2023.
The companies are Forsys Metals Corp., Deep Yellow Limited, Bannerman Energy, Paladin Energy Limited and Elevate Uranium.
Forsys Metals Corp. (80.4%) was the second-best performer after Standard Bank Holdings, while Deep Yellow Limited (71.6%) was third.
Bannerman Energy (64.6%) took up the fourth position, with Elevate Uranium (32.7%) in position nine.
Afritin Mining (now Andrada Mining) also did well (7.10%), but B2Gold (-3.40%) and Celsius Resources (-11.10%) did poorly.
Forsys Metals’ flagship project is Norasa, which includes the wholly owned Valencia project mining licence 149, which has a 25-year mining licence and a 100% interest in the Namibplaas project (EPL 3638), which is located 4.5 km northeast of Valencia.
The properties are approximately 75 km southwest of the town of Usakos, and together, they are known as the Norasa Uranium Project.
Valencia is on the farm Valencia 122, located approximately 75km northeast of Swakopmund in central-west Namibia, covering an area of 735.6 ha and is registered under the name Valencia Uranium (Pty) Ltd.
Mining licence 149 was converted from EPL 1496 on June 23, 2008, and is valid for 25 years from the date of issue by the mines ministry and is renewable.
Namibplaas is 4.5km northeast of the Valencia deposit on the farm Namibplaas 93, with a total surface area of 1,269 ha.
Forsys is actively engaged with the mines ministry to renew its EPL 3638 for further pit optimisation work at the Namibplaas site. This renewal is crucial for gathering data to secure a full mining licence 251 in application at Namibplaas.
DEEP YELLOW
A Deep Yellow 100% owned subsidiary, Reptile Mineral Resources manages the portfolio comprising the Reptile Project, Niva Joint Venture with JOGMEC and Yellow Dune Joint Venture.
Deep Yellow has 100% interest in the Reptile Project, 65% in the Nova Joint Venture, and 85% in the Yellow Dune Joint Venture.
The portfolio contains an overall resource of 159.3Mlb U3O8 grading 320ppm.
Bannerman’s flagship project is the Etango Uranium in the Erongo Region, 30 kilometres southeast of Swakopmund.
It possesses a world-class uranium mineral resource endowment of 207 Mlbs of contained U3O8 (100ppm U308 cut-off).
Etango has benefited from extensive exploration and feasibility activity over the past 15 years. This includes detailed feasibility work on a large-scale development of Etango that culminated in the 2012 Definitive Feasibility Study (DFS 2012) and 2015 DFS Optimisation Study (OS 2015).
Bannerman received a licence in December 2023 to
Paladin co-owns the Langer Heinrich Mine, which is set to start operations this quarter.
The Langer Heinrich Mine’s annual uranium output is enough to supply over ten 1,000 Mwe nuclear power plants for a year.
The deposit was discovered in 1973, and Paladin acquired Langer Heinrich Uranium (Pty) Ltd and its assets from Aztec Resources Ltd in August 2002.
Elevate Uranium owns the Koppies tenement EPL 6987 in the Namib Desert region. Exploration and subsequent resource drilling identified a 48 Mlb uranium resource less than 20m deep.
The company also owns Hirabeb, tenement EPL 7278, the company’s largest strategically located tenements in the Namib Desert.
There is also Namib IV on tenement EPL 7662, Marenica Uranium Project and Capri covered by EPL 7508.
