Madison Metals provides update for uranium forward sales agreement

Since November 2023, Madison Metals has successfully received funds for its first tranche of the Company’s forward sales agreement, at an average price of US$68/lb. This achievement underscores the uranium agreement’s effectiveness in securing favourable pricing, well above the contractual established US$45 price floor. As there is no price ceiling, Madison’s forward sales agreement provides upside potential for advantageous pricing, as the market continues to surge. The significant flexibility of the forward sales agreement allows the Company to adapt and capitalise on the uranium market’s upward price trajectory.

Given the exceptional performance of the current uranium market, with an 88% spot price increase in 2023 and an additional 10% increase in the first two weeks of 2024, Madison is well-positioned to leverage these robust market conditions.

“Our strategic mining assets in Namibia, Africa, backed by decades of expertise, position us as a leading upstream explorer and developer that can fast-track to uranium production. We’re not just creating value for our shareholders; we’re setting the pace for the future of sustainable energy. This is more than a market trend – it’s a fundamental shift in the global energy market, and Madison is positioned to be a major player at the heart of it,” said Duane Parnham, Executive Chairman and CEO of Madison Metals.

Read the article online at: https://www.globalminingreview.com/finance-business/24012024/madison-metals-provides-update-for-uranium-forward-sales-agreement/