Overview of C29 Metals activities for the period ending 31 March 2024

C29 Metals Limited (ASX: $C29) has reported significant developments for the period ending 31 March 2024. The company acquired the Ulytau Uranium Project in Kazakhstan, which holds a Non-JORC foreign estimate of 9.85M/lbs Uranium. Additionally, experienced mining executive Shannon Green joined as the Managing Director, and firm commitments were received to raise $3m for exploration at the Ulytau Uranium Project.

Executive Commentary on Recent Developments

The Managing Director of C29 Metals, Shannon Green, expressed enthusiasm for the transformative acquisition of the Ulytau Uranium Project in Kazakhstan. Green highlighted the project's substantial potential, with a Non-JORC foreign estimate of 9.85M/lbs Uranium and the drilling approval process already underway. The company also secured firm commitments to raise $3m for exploration at the project, signaling an exciting period ahead as they advance Ulytau and create shareholder value.

Summary of Quarterly Activities and Outlook

C29 Metals' acquisition of the Ulytau Uranium Project marks a significant milestone, with the potential for substantial uranium reserves. The firm commitments to raise $3m for exploration at the project demonstrate confidence in its prospects. The company's focus on advancing Ulytau and the positive outcomes from the Mayfield Copper-Gold Project's maiden drilling program indicate an optimistic outlook. With cash on hand of $1.090m and the recent placement, C29 Metals appears well-positioned to pursue its business objectives and drive further exploration and development initiatives.