Moab Minerals completes acquisition of Linx Resources Pty Ltd

Moab Minerals Limited (ASX: $MOM) has successfully completed the acquisition of 81.85% of the shares of Linx Resources Pty Ltd, solidifying its ownership of Linx to 89.6%. This acquisition includes a diverse portfolio of advanced, large-scale uranium projects in Tanzania, notably the Manyoni and Octavo Uranium Projects, covering a total of 216 km². With approximately $1.9 million in cash and equivalents, Moab is well equipped to fund exploration and development initiatives.

Executive Commentary on Acquisition and Exploration Plans

Moab Managing Director, Malcolm Day, expressed, 'The completion of the acquisition of such high potential uranium projects is transformational for the Company. There is a large volume of historic exploration data, including drilling data, that the Company has access to, effectively saving time and money. Given the current uranium price, Moab is in the right place at the right time to re-evaluate the Manyoni Uranium Project and to commence exploration on the Octavo Uranium Project.'

Summary of Acquisition and Future Plans

Moab Minerals' acquisition of Linx Resources Pty Ltd, securing ownership of advanced uranium projects in Tanzania, marks a significant milestone for the company. With strategic locations and access to modern infrastructure, the Manyoni and Octavo Uranium Projects present promising opportunities. The company's plans for extensive drilling and exploration activities demonstrate a strong commitment to unlocking the potential of these assets. Moab's ambitions to re-evaluate the Manyoni Uranium Project and commence exploration on the Octavo Uranium Project align with the current uranium price, positioning the company for potential growth and development in the uranium sector.