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QX Resources Limited (ASX:QXR)

ALERT: Price-sensitive ASX Announcement for QXR
Current share price for QXR : $0.003 -0.001 (-25%)+
Announcement
Release
26 Aug 2025 10:00AM
Price at Release
$0.004
Full Release
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Summary
QX Resources Limited (QXR) has announced the acquisition of a highly prospective uranium project, known as the Madaba Project, located in southern Tanzania. The company has entered into a binding agreement to acquire a 92% interest in the Madaba Project from a private Tanzanian company, subject to shareholder approval and other conditions. The project covers a significant area with known uranium mineralisation, including historical drill results and radiometric anomalies. QXR plans to undertake further exploration to delineate resources and to advance the project towards development. The acquisition is part of QXR’s strategy to expand its portfolio of battery and critical minerals, with uranium seen as a core asset due to the global shift towards clean energy. The company is confident that the Madaba Project will provide substantial value to its shareholders and aligns with its growth ambitions in the critical minerals sector.
Key Points
  • QX Resources Limited announced acquisition of Madaba Uranium Project in Tanzania.
  • Binding agreement to acquire 92% interest in the project from a private Tanzanian entity.
  • Project area contains significant uranium mineralisation with historical exploration data.
  • Acquisition subject to shareholder approval and satisfaction of other conditions precedent.
  • QXR will conduct further exploration and resource delineation upon completion of acquisition.
  • Madaba Project aligns with QXR’s strategy to grow in critical and battery minerals sector.
  • Uranium seen as core asset given increasing demand for clean energy solutions.
  • QXR believes the acquisition will add significant value for shareholders.
  • Company continues to evaluate additional opportunities aligned with its growth strategy.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.