Forte Energy NL has recently completed a strategic realignment to position itself as a West African-focused uranium explorer with over 12,700 square kilometres of prospective tenure in Mauritania and Guinea.
The Company’s Mauritanian assets are being progressed through a Strategic Alliance and Cooperation Agreement with the French-based multinational industrial and nuclear energy giant, Areva NC, which holds a strategic interest in Forte Energy of more than 10% and is the Company's largest shareholder.
The agreement provides Forte with access to Areva’s extensive uranium exploration database as well as technical cooperation and on-ground support in advancing exploration and evaluation.
History
Previously known as Murchison United NL and under former management, the Company’s activities were focused on its Australian copper and cobalt interests and other world-wide base-metal projects.
Following significant management and board changes in 2004, the focus of the Company shifted to uranium and other energy-related projects. This led to the Company successfully obtaining a number of uranium exploration licences in both Guinea and Mauritania in 2005 and 2006. Numerous field expeditions and drilling campaigns carried out by the Company have confirmed the strong potential for its projects to host significant uranium deposits.
A New Vision
Global acknowledgement of the need to decrease carbon emissions and the call for viable, sustainable energy alternatives have seen governments worldwide increasingly turning to nuclear energy as a feasible and attractive energy option.
A persistent deficit between uranium demand and supply has existed for two decades and international inventories are steadily being depleted, creating a highly favourable environment for exploration.
Forte Energy’s new strategic positioning sees the Company poised to capitalise on current uranium market conditions.