Welcome to our dedicated page for Tonogold Res news (Ticker: TNGL), a resource for investors and traders seeking the latest updates and insights on Tonogold Res stock.
The TNGL news archive on Stock Titan covers the corporate evolution of Tonogold Resources Inc. into Uranium American Resources, Inc. and the company’s shift toward uranium and vanadium assets. Company releases describe how Tonogold entered into a binding agreement to acquire JAG Minerals Pty Ltd, whose subsidiary JAG Minerals USA Inc. holds three projects in the western-central United States: the Sky Project, the Stateline Project, and the Marysvale Project.
News items linked to the TNGL symbol detail milestones such as the approval of the rebrand to Uranium American Resources Inc., subsequent announcements about the official name change, and the later confirmation that the OTC ticker symbol changed from TNGL to UARI. These updates explain the strategic rationale for focusing on uranium and vanadium projects in historic mining districts located near existing processing plants.
Investors can review technical updates on the Sky, Stateline, and Marysvale projects, including historic drilling data, historical resource estimates, and sampling results. Releases discuss scintillometer readings and assays at Stateline, historic uranium estimates and drilling at Marysvale, and historic roll-front uranium mineralization and resource estimates at Sky. Corporate news also addresses capital structure changes, such as the conversion of a significant portion of convertible loan notes and equity financings intended to support the JAG Minerals acquisition.
This TNGL news page serves as a historical record of announcements issued while the company traded under the TNGL symbol and during its transition to Uranium American Resources, Inc. and the UARI ticker. Readers interested in the company’s uranium and vanadium focus, project portfolio, and corporate restructuring can use this archive to trace key developments over time.
Uranium American Resources, Inc. (OTCID:TNGL), formerly Tonogold Resources, has announced its official ticker symbol change to OTCID:UARI, marking a strategic transition into the uranium and vanadium sector. The company is acquiring three historic uranium and vanadium projects in the western USA:
The portfolio includes the Stateline Project with 19 historic mines across Colorado and Utah, the Sky Project with over 150 drillholes and potential for in-situ recovery, and the Marysvale Project with historic production and approximately 2.9Mlb U3O8 in historic estimates. The assets were strategically acquired between 2017-2020 during low uranium prices.
Uranium American Resources Inc (OTC Pink:TNGL) has secured a $3.5 million capital raise from a US institutional investor to complete its acquisition of JAG Minerals Pty Ltd. The funding comes through a unit transaction priced at $0.06 per share, representing a premium to UAR's current market price.
The deal includes warrants allowing the investor to purchase additional shares at $0.10 per share over a 48-month period. The company has raised over $4.0 million in the past twelve months. UAR also plans to implement a reverse stock split to reduce outstanding shares.
Uranium American Resources, Inc. (formerly Tonogold Resources, OTC PINK:TNGL) has announced its official rebranding, marking a strategic shift towards uranium and vanadium assets. The company is acquiring three projects in the western USA: the Marysvale Project (hardrock uranium and vanadium mine), SKY Project (uranium roll front asset), and Stateline Project (19 historic high-grade mines).
The projects were acquired between 2017-2020 during low uranium prices. Historic estimates indicate over 1Mlb U3O8 at Sky Project and approximately 2.9Mlb U3O8 at Marysvale. Over 80% of historical convertible noteholders have supported this transition by converting their notes to equity at $0.10 per share. The company is currently working on changing its ticker symbol, though it will continue trading as TNGL until FINRA processes are complete.
Tonogold Resources (OTC Pink:TNGL), soon to be rebranded as Uranium American Resources Inc., has expanded its uranium and vanadium portfolio across three strategic projects in the western-central USA. Key developments include:
- Expansion of the Sky Property in Wyoming by 1,285 acres, building on existing 57 patented mining claims with historic resources of over 1M lbs U₃O₈
- Stateline Project sampling revealed high-grade mineralization with scintillometer readings up to 45,200 cps, showing >1% uranium and >1% vanadium
- Marysvale Project in Utah has historic resource estimates of up to 2.9 million lbs of U₃O₈
The company plans a 1-for-15 reverse stock split and has appointed new leadership, with over 80% of CLN holders converting into the new uranium/vanadium program.
TONOGOLD Resources Inc. (OTC PINK:TNGL) has released a presentation detailing its acquisition of JAG Minerals Pty , marking the culmination of 12 months of collaborative work. The company highlights the historic, low-risk districts of uranium and vanadium production near existing mineral production and processing facilities. TONOGOLD aims to accelerate the exploration, development, and production of these critically important minerals.
CEO William Hunter expressed optimism about the transaction, emphasizing the strategic importance of nuclear power in an increasingly electrified economy. The company believes this acquisition will position it as a leader in the uranium industry. The detailed presentation is available on TONOGOLD's website, providing shareholders with comprehensive information about the acquisition and its potential impact.
TONOGOLD Resources Inc. (OTC PINK:TNGL) has announced that it has received commitments for the conversion of approximately 80% of its outstanding convertible loan notes (CLNs) into common stock at a price of $0.10 per share. This conversion is a important step towards closing the previously announced acquisition of JAG Minerals Pty , a large, diversified US-focused uranium company.
The company views this as a significant milestone, demonstrating the support of CLN investors for the JAG Minerals acquisition and its US-based uranium projects. TONOGOLD is continuing discussions with additional CLN holders to potentially increase the conversion percentage further. This development is part of the company's ongoing efforts to restructure its capital structure, as announced on April 10, 2024.
TONOGOLD Resources Inc. (OTC PINK:TNGL) and merger partner JAG Minerals USA, Inc. have provided an update on historic resource estimates for their Marysvale Project in Southwestern Utah. Key highlights include:
1. A historic resource estimate of up to 2.9 million lbs U3O8 within 300-500 feet of the surface.
2. Historic drilling of 115 holes, including 102 by Phillips Minerals in the 1970s and 13 by Trigon Exploration in 2007.
3. Potential to double or triple the historic estimate.
4. Notable drill intercepts include 88.0 ft @ 0.07% eU3O8 and 47.5 ft @ 0.13% eU3O8.
5. The company plans to enhance the project's value through targeted drilling and updating the NI 43-101 Technical Report.
The historic estimates are not compliant with current reporting standards and require further verification.
TONOGOLD Resources Inc. (OTC PINK:TNGL) has entered a binding share purchase agreement to acquire 100% of JAG Minerals Pty , which owns JAG Minerals USA Inc. The acquisition includes three uranium/vanadium projects in West-Central USA. The total purchase price is $8.5 million, comprising $6.5 million in TONOGOLD shares at $0.04/share and $2 million in cash. To close the deal, TONOGOLD will complete a $500,000 convertible loan note, restructure existing note holders, and raise up to $6 million in equity. Post-acquisition, TONOGOLD will change its name to Uranium American Resources, Inc. The deal aims to accelerate development of the Marysvale, SKY Project, and thirteen historic high-grade vanadium/uranium mines in Colorado and Utah.
Tonogold and JAG Minerals announced an amendment to their Term Sheet, extending the Exclusivity Period to July 30, 2024. They reported scintillometer readings up to 45,200 cps at the Stateline Project, with assays showing over 1% Uranium and Vanadium. Seven samples were taken from zones with visible carnotite and uraninite, providing a basis for future drilling operations. The Stateline Project, covering 2.75 square miles, includes former uranium/vanadium mines in the La Sal Creek District. Historic vanadium content averages 1.5%. Future plans include diamond drilling and gamma logging of 15-20 holes. CEO William Hunter emphasized the commitment to completing the transaction and expanding claims in Wyoming, Utah, and Colorado.
TONOGOLD Resources Inc (TNGL) announced that its merger partner, JAG Minerals USA, Inc., has expanded its uranium portfolio by acquiring two new Wyoming State leases near the Sky Project, adding 5.2km2 to the highly prospective region. The Sky Property is strategically located adjacent to Uranium Energy Corp's Wyoming Projects, with proximity to licensed processing plants. The historical resource estimates and ongoing exploration activities indicate promising future prospects for the company.