GXU:CC - GoviEx Takes Hit as Niger Cancels Mining Permit for Madaouela Uranium Project

2024-07-07 12:30:00 ET

GoviEx Uranium ( TSXV : GXU ,OTCQB:GVXXF) said on Thursday (July 4) that the Niger government has revoked revoked its rights to the perimeter of the Madaouela mining permit, placing it in the public domain.

Niger's political landscape has been unstable since a coup d’état last July 2023. General Abdourahamane Tiani's military junta took control of the country at that time, ousting President Mohamed Bazoum.

While GoviEx initially expressed optimism that it would be able to operate as normal at Madaouela, in April the government said it could lose its mining permit if it didn't commence mining operations by July 3.

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