Critical One makes strategic uranium asset divestment

“Divesting the company’s uranium assets and focusing on the Howells Lake Antimony-Gold Project enhances our shareholder value by strategically refining the Company’s critical metals and minerals mission,” said Duane Parnham, Executive Chairman and CEO of Critical One. “I believe this shift in our critical metals strategy aligns with global market trends driven by the energy transition, and will offer higher growth potential and improved returns. Howell Lake’s antimony deposits allow us to capitalise on the rapidly growing demand for these critical metals. Plus, the project provides gold exploration upside in a period when the yellow metal’s value is reaching all-time market highs.”

Parnham added, “By forming this alliance with Dark Star, our investment in uranium continues to have great potential. This divestiture allows Critical One to focus on its capital allocation on high-margin, high-demand critical minerals, thereby optimising our portfolio for long-term profitability, reducing exposure to market risks, and strengthening our competitive position in a future-focused industry, ultimately driving sustainable value creation for shareholders.”

Under the terms of the letters of intent agreement (LOI), Dark Star has the opportunity to acquire all of Critical One’s interest in the Khan and Cobra Uranium Projects through staged cash payments and issuances of common shares to the company over a two-year period. No fairness opinion or independent valuation of the uranium assets was sought by Critical One or Dark Star for this agreement.

Read the article online at: https://www.globalminingreview.com/finance-business/13062025/critical-one-makes-strategic-uranium-asset-divestment/