View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
August 26, 2021updated 06 Apr 2022 12:56pm

Okapi boosts uranium portfolio with Tallahassee acquisition

Tallahassee owns the Tallahassee project in Colorado and holds an option to acquire 100% of the Rattler project in Utah.

Okapi Resources has finalised the acquisition of Tallahassee Resources gaining a suite of high-grade uranium assets in the US.

The deal was completed more than a month after Okapi signed a deal to acquire Tallahassee by issuing 33.5 million shares and 16.75 million options. The transaction secured shareholders’ approval last week.

Tallahassee Resources owns a 100% interest in mineral rights that includes around 7,500 acres in the Tallahassee Creek Uranium District of Colorado.

According to a JORC 2004 Mineral Resource estimate, the Tallahassee Uranium Project contains 26 million pounds (Mlb) of U₃O₈ at a grade of 540ppm U₃O₈, with significant exploration upside.

Tallahassee Resources also holds an option to acquire 100% of the Rattler Uranium Project in Utah.

Okapi executive director David Nour said: “This acquisition is truly transformational for Okapi and underpins our new strategy to become one of the most prominent uranium developers in North America.

“We believe that the global push towards clean energy as a way of lowering carbon emissions will significantly increase global demand for uranium for the foreseeable future. Okapi is well-placed to take advantage of this once in a generation macro-economic shift.”

Okapi has already started fieldwork at the Rattler Uranium Project and plans to initiate a drilling programme in the coming months. A drilling campaign at Tallahassee is also in the pipeline.

Okapi seeks to become a new leader in carbon-free nuclear energy in North America through accretive acquisitions and exploration of high-grade uranium assets.

The company recently completed a share placement and now holds around A$6m ($4.35m) in cash and cash equivalents.

Related Companies

Free Report

What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The mining industry's most comprehensive news and information delivered every month. The mining industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy