Following the announcement of the Project's Feasibility Study ('FS') results on
The initial phase involved
This initial phase is now complete and has resulted in a preliminary short-list of approximately 20 institutions who will now move forward with the detailed due diligence phase. Prospective project financiers include a mix of commercial banks, export credit agencies, development finance institutions, equipment suppliers and alternative finance providers.
'We view the initial results from the project financing progress with
Prospective financiers will now be provided with additional information relating to the Company and Project through a virtual dataroom with the objective of obtaining formal expressions of interest ('EOIs'). Following receipt of EOIs,
The project finance process is expected to take several months and is being run in parallel to discussions with utilities regarding offtake. The Company will provide updates on the financing process as it progresses.
About
Endeavour Financial, with offices in
Neither the
About
GoviEx (TSXV: GXU) (OTCQX: GVXXF), is a mineral resource company focused on the exploration and development of uranium properties in
Contact:
Head of Investor Relations and Corporate Communications
Tel: +1-604-681-5529
Email: info@goviex.com
Web: www.goviex.com
Cautionary Statement Regarding Forward-Looking Statements
This news release may contain forward-looking information within the meaning of applicable securities laws. All information and statements other than statements of current or historical facts contained in this news release are forward-looking information.
Forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in GoviEx's periodic filings with Canadian securities regulators. When used in this news release, words such as 'will', 'could', 'plan', 'estimate', 'expect', 'intend', 'may', 'potential', 'should,' and similar expressions, are forward- looking statements. Information provided in this document is necessarily summarized and may not contain all available material information.
Forward-looking statements include those related to: (i) the Company's ability to receive suitable EOIs; and (ii) the method and timing of the project finance process or offtake discussions related to the
Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Such assumptions, which may prove incorrect, include the following: (i) that the Company will be successful in its project debt financing and offtake plans for the Madaouela Projects; and (ii) that the price of uranium will remain sufficiently high and the costs of advancing the Company's projects will remain sufficiently low so as to permit GoviEx to implement its business plans in a profitable manner.
Factors that could cause actual results to differ materially from expectations include (i) the inability of the Company to successfully complete its project debt financing and/or offtake plans for the
In addition, the factors described or referred to in the section entitled 'Risks Factors' in the MD&A for the year ended
Although GoviEx has attempted to identify important factors that could cause actual results, performance, or achievements to differ materially from those contained in the forward- looking statements, there can be other factors that cause results, performance, or achievements not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances, or results will materialize. As a result of these risks and uncertainties, no assurance can be given that any events anticipated by the forward-looking information in this news release will transpire or occur, or, if any of them do so, what benefits that GoviEx will derive therefrom. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and GoviEx disclaims any intention or obligation to update or revise such information, except as required by applicable law.
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