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Puranium Energy Comments on Recent Namibia Media Articles
Toronto, Ontario--(Newsfile Corp. - June 8, 2023) - Puranium Energy Ltd. (CSE: UX) (FSE: 2DK) (the "Company" or "Puranium") today provides comments regarding a
About this update from Puranium Energy Ltd
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - June 8, 2023) - Puranium Energy Ltd. (CSE: UX) (FSE: 2DK) (the \"Company\" or \"Puranium\") today provides comments regarding a recent article in the media suggesting that the Government of Namibia is considering taking ownership stakes in key natural resource projects within the country. Investors can refer to: Bloomberg titled \"Namibia considers taking stakes in Mining and Petroleum Companies\" Africa Energy Chamber titled \"Government Not Looking at Raising O&G Stakes, Namibian Minister Clarifies During Paris Forum\" On behalf of the Puranium Board of Directors, President and CEO, Jason Bagg provides the following comments: \"Puranium Energy Ltd. and its advisors are not aware of any proposed legislation being considered that will impact mineral exploration stage companies operating in Namibia. Furthermore, we remind the investment community that any potential legislation being considered is proposed, not passed into law, and that the commentary in the articles were predominantly surrounding oil & gas projects in Namibia. Currently, the Namibian Government, through the national oil company NAMCOR, are entered into minority interests in oil & gas projects within the country. As of now, no minority interests are entered into metals and mining assets in the country such as gold, uranium, and diamond projects. Puranium understands that other jurisdictions in Africa have legislation that requires minority Government interests in advanced staged mining projects that are proceeding towards construction and production, and it is important to note that any minority interest, free-carried or otherwise, is subject to first demonstrating that a project is economically viable. \"Through its Namibia-based team, the Company maintains communications with Ministry of Mines & Energy and other relevant Ministries. The Company anticipates that engagement with the Ministries will increase in the future, including further relationships with key organizations in Namibia, such as the Chamber of Mines and the Namibian Uranium Association, as the Company's exploration projects are progressed. \"Puranium is confident that discussions about potential minority interests are very preliminary and that the Government of Namibia understands the value of foreign investment and the resulting local and count...