Lincoln Minerals chief executive officer Jonathon Trewartha said: “With increased momentum to transition away from fossil fuels to enhance energy security, the demand for uranium continues to rise, underscoring its critical role as a stable and dependable source of energy. This changing market context presents Lincoln Minerals with potential opportunities to revisit and leverage its long-standing uranium project pipeline, which aligns perfectly with the Company’s attractive broader energy transition projects.”

Since 2020, several new uranium projects have emerged on the Eyre Peninsula, including Pinnacle Minerals’ Wirrulla project, Alligator Energy’s Samphire project and Power Minerals’ Whichelby project, all showing significant potential for growth and development in the region’s uranium sector.

Lincoln believes several of its uranium targets share geological similarities to the Samphire project which sits about 40km to the north-east with a JORC-compliant resource of 11.4 million tonnes at 720ppm for 18.1 million pounds of uranium oxide.

According to Geoscience Australia, South Australia is considered the most uranium-friendly State in the nation as it actively supports exploration for the controversial metal. In fact, the project approvals process in South Australia has even been streamlined.

BHP’s Olympic Dam deposit in SA is considered one of the biggest uranium deposits in the world, containing more than two million tonnes of uranium oxide.

Australia holds a strategic position in the market with almost a third of the global uranium resources, yet only 8 per cent of the world’s total is produced in the nation.

SA uranium mines lead the nation’s production with 5497 tonnes of uranium oxide produced in 2020. It is also home to one of only two Australian ports approved for uranium exports.

With uranium coming back into vogue and a grab bag of prospective targets across its extensive South Australian holdings, Lincoln appears to be gaining significant momentum in its bid to play a part in the energy transition industry.

Is your ASX-listed company doing something interesting? Contact: [email protected]