30%

The decline in Oakbay’s shares during a year

Oakbay’s market capitalisation was R12 billion yesterday. Its shares have fallen 30 percent in a year.

According to Oakbay, its priority focus is on uranium, with the main asset – Shiva Uranium – intended to be the first dedicated uranium mine in Africa. It has said it will require at least R800 million for optimum uranium production in the North West.

Oakbay mines gold deposits as a by-product and also offers outsourced contracting to the mining industry. These initiatives diversify revenue streams and are intended as a source of funding for current uranium resource development and as a cost underpin for future uranium production.