GoviEx Uranium Inc (TSX-V:GXU, OTCQX:GVXXF). said that the government of the Republic of Niger has agreed to defer the taxes payable for the surface area of its Madaouela project due later this month by 50%.
According to the terms of the deferment, GoviEx will pay 50% of the surface area taxes amounting to US$2.8 million in July 2022 and the remaining 50% in December 2022.
"Once again, the government of Niger has proven to be an excellent partner and willing to work with GoviEx,” company CEO Daniel Major said in a statement.
READ: GoviEx Uranium eyes completion of Madaouela feasibility study in Q3 this year; updates on positive progress of Mutanga drilling
“We welcome the deferment and look forward to further progress with the development of Madaouela. Our feasibility study is due in Q3 and it represents another step towards Madaouela becoming a producing asset," he added.
Madaouela is GoviEx’s flagship mine-permitted uranium development project jointly owned with the Niger government holding a 20% interest and GoviEx, the majority 80%.
GoviEx is a mineral resource company focused on the exploration and development of uranium properties in Africa. Its principal objective is to become a significant uranium producer through the continued exploration and development of its flagship mine-permitted Madaouela project in Niger, its mine-permitted Mutanga project in Zambia, and its multi-element Falea project in Mali.
Contact the author at jon.hopkins@proactiveinvestors.com