New Opportunities Team
The Directors are committed to maintaining the Company’s interests in the Alligator Rivers Uranium Province whilst actively seeking other business opportunities including in other commodities. In this regard, the Company has allocated $100,000 of the late 2016 capital raising to the evaluation of other business opportunities.
In early 2017, the Company commenced the process of actively evaluating other business opportunities and will also be actively seeking introductions through the networks immediately available to it through its Directors and also with Macallum Group. The Company has entered into a binding memorandum of understanding with Macallum Group whereby Macallum Group has agreed that any projects identified by Macallum Group that would be a suitable fit for the Company will be introduced to the Company as a priority.
A New Opportunities Team with an agreed Terms of Reference was established in late December 2016. The Team will meet at least monthly with regular progress reporting back to the Board. The Team comprises two independent directors, the Exploration Manager, an external geological consultant, and an external business advisor. Authority is in place to engage suitable advisors on an as needs basis to assist with the evaluation of new business opportunities.