Blaze Minerals expands critical metals portfolio

Blaze Minerals (ASX:BLZ) has executed a binding agreement to acquire a 60% stake in Gecko Minerals Uganda. This acquisition includes two key projects in Uganda: the Ntungamo and Mityana Projects, which are rich in critical metals like beryllium and lithium. This strategic move aligns with Blaze's focus on critical metals and exploration is set to commence soon.

Outlook on Blaze Minerals' strategic acquisition

Blaze Minerals' acquisition of a 60% stake in Gecko Minerals Uganda marks a significant step in their strategic focus on critical metals. The Ntungamo and Mityana Projects are poised for exploration, with plans to test the grade and geometry of pegmatites. This move allows Blaze to potentially capitalize on growing demand for critical metals essential for various technological and industrial applications. The company plans to issue 625 million shares as part of the transaction, which remains subject to shareholder and regulatory approvals. The acquisition also includes an option to acquire the remaining 40% of Gecko within two years, further solidifying Blaze's ambitions in the critical metals sector.

Executive insights on strategic acquisition

Mathew Walker, Corporate Director of Blaze, highlights the acquisition as a strategic move that promises near-term excitement and exploration progress. Mark Gasson, Chairman of Gecko, expresses enthusiasm for collaboration and exploration potential in Uganda.