TNT Mines Ltd (ASX:TNT) is investigating the possibility of facilitating further trading liquidity and addressing offshore demand by seeking quotation to trade on the OTCQB Venture Market and/or OTCQX Best Market in North America.
This move follows increasing levels of inbound international enquiry and investor interest from North America coinciding with the announcement on May 11, 2020, that TNT would acquire the high-grade East Canyon Uranium-Vanadium Project in Utah, USA.
Regulatory changes announced recently by the US Government as well as supply cuts and positive price action in uranium, have generated significant interest in the US uranium thematic with limited opportunities to invest in US-based uranium projects.
The company’s board does not intend to issue further securities as part of any plan to see quotation on these platforms.
OTC Markets Group Inc (OTCQX:OTCM) operates both the OTCQB Venture Market and OTCQX Best Market for US and global securities.
TNT will provide further updates on any efforts to facilitate North America trading in its shares as the matter progresses.
East Canyon project
On June 16, the company completed the acquisition of a high-grade uranium-vanadium project in the prolific Dry Valley/East Canyon mining district of southeast Utah.
With the company’s acquisition of Vanacorp Aust Pty Ltd and wholly-owned US subsidiary Vanacorp USA LLC, TNT has a new asset in the East Canyon Uranium Vanadium Project along with a new director in Peter Woods.
In prolific belt
East Canyon project is within the extended Uravan Mineral Belt, an important source of uranium and vanadium ore in the US for more than 100 years.
This project is also within easy 50-kilometre trucking distance of the only fully permitted and fully operational conventional uranium-vanadium mill in the US, Energy Fuels Inc’s (TSE:EFR) (NYSEAMERICAN:UUUU) White Mesa Mill.
The acquisition coincides with positive market fundamentals for uranium and resulting upward price movement.