Ubaryon Pty Ltd, a company in which Snow Lake Resources Ltd. holds an indirect stake through its 19.9% interest in Global Uranium and Enrichment Limited (GUE), announced a strategic partnership with Urenco Limited. Urenco, a global uranium enrichment company, has signed a non-binding Term Sheet to invest A$5.0 million in Ubaryon over three years for a 13% stake.
This agreement is a significant milestone for Ubaryon's uranium enrichment technology, providing strategic validation and substantial resources and expertise to de-risk its commercialization. GUE will remain the largest shareholder in Ubaryon with a 21.9% interest post-transaction.
Ubaryon's technology has been independently assessed at Technology Readiness Level (TRL)-4, confirming successful validation of critical components in a laboratory environment. This partnership with Urenco, which operates enrichment facilities globally, enhances Snow Lake's exposure to the midstream nuclear fuel supply chain.
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