Welcome to Mantra Resources Limited
Mantra Resources Limited ('Mantra') is an emerging uranium company with a portfolio of quality projects in southern Africa. The Company is dual listed on the Australian Securities Exchange ('ASX') under the code 'MRU' and the Toronto Stock Exchange ('TSX') under the code 'MRL'. Mantra was recently added to the S&P/ASX 300 index.
The results of drilling at the Company’s flagship Mkuju River Project ('the Project') in southern Tanzania have confirmed the presence of multiple thick zones of sandstone-hosted uranium mineralisation at shallow depths at the Nyota Prospect ('the Prospect'). A Mineral Resource of 84.3 million pounds U3O8 (34% Indicated, 66% Inferred) has been estimated for the Prospect, and the potential exists to substantially grow the resource base with ongoing work.
The results of a Scoping Study completed in June 2009 confirmed the technical and economic viability of the Project, and its capacity to operate with strong cash margins. A Pre-Feasibility Study is well advanced and will be concluded during the March quarter of 2010, ahead of the award and commencement of a Definitive Feasibility Study.
Mantra is focused on aggressively pursuing the ongoing exploration, appraisal and potential development of this outstanding uranium Project in order to fulfil its strategic objective of becoming a significant uranium producer in the near-term.
Mantra's Board and senior management have extensive exploration, development and production experience in southern Africa, including Tanzania.
The Company has a strategic alliance with Highland Park S.A. (includes original founders and former executives of LionOre Mining International Limited) and strong cash reserves.
For an animated fly through of the Nyota Prospect please click here.
