Magnis Resources Limited (MNS)
Magnis Resources Limited, formerly Uranex Limited, is engaged in prospecting and exploration for graphite on its Nachu Project in Tanzania. The Nachu Project is located near Ruangwa in southeast Tanzania, circa around 220 kilometers from sea port town of Mtwara. The project consists of mineral resource estimate of around 156 metric tons at 5.2% graphite carbon (Cg) at 3% Cg cutoff grade. It consists of around 100 metric tons measured and indicated resources. The Nachu Tenement covers around 199 square kilometers area. The mineral resources are split into five deposits, which include block B, D, F, FSL and J. The Company's other projects include the Ruangwa tenement, located 35 kilometers north east of Nachu Project; the Mkuju project, which is located in southern Tanzania and comprises six granted licenses plus applications; the Manyoni Uranium project, located in central Tanzania, and the Thatcher Soak project located within Yilgarn Calcrete province of Western Australia.