Orpheus Uranium’s Expansion Hinges on Regulatory Approvals and Stakeholder Engagement

Strategic Acquisition Expands Orpheus Uranium’s Footprint

Orpheus Uranium Limited (ASX: ORP) marked a pivotal quarter ending March 2025 by securing a 100% acquisition of the Pirie Basin Uranium Project, announced shortly after the quarter’s close. This acquisition, sourced from FMG Resources Pty Ltd, a wholly owned subsidiary of Fortescue Ltd, adds a substantial 1,100 square kilometres of highly prospective ground adjacent to Alligator Energy’s Samphire Uranium Project, a site already known for significant uranium mineralisation.

The Pirie Basin is recognised as one of South Australia’s most promising sedimentary uranium provinces, hosting fertile source rocks of the Gawler Craton’s Hiltaba Suite. Historical drilling has revealed uranium grades up to approximately 535 ppm U3O8, underscoring the basin’s potential for new discoveries. This acquisition strategically complements Orpheus’s existing South Australian projects in the Frome and Radium Hill basins, collectively positioning the company across three of the state’s most prospective uranium provinces.

Capital Raising Fuels Exploration Momentum

Supporting this expansion, Orpheus successfully completed a $1.25 million capital raising concurrent with the acquisition announcement. These funds are earmarked to initiate a comprehensive exploration program on the Pirie Basin Project, signaling the company’s commitment to advancing its uranium assets through active fieldwork and data analysis.

Exploration expenditure for the quarter totaled $210,000, focused on geophysics, technical studies, and land access, with no production or development costs incurred. The company ended the quarter with a robust cash position of $3.57 million and liquid investments valued at $0.56 million, providing a solid financial foundation for its exploration agenda.

Progress Across South Australian and Northern Territory Projects

Beyond the Pirie Basin, Orpheus continues to advance its Frome Project, located near Boss Energy’s Gould’s Dam deposit, with ongoing engagement with the Adnyamathanha Traditional Lands Association to facilitate regulatory approvals for advanced exploration. Similarly, at Radium Hill South, the company is collaborating with the Wilyakali Native Title Aboriginal Corporation to progress access agreements and prepare for heritage surveys and drilling.

In the Northern Territory, the Mount Douglas project remains a focal point, with recent gravity surveys processed in partnership with the Northern Territory Geological Survey. Plans for infill gravity surveys and subsequent drilling are set for the dry season, contingent on land access and exploration results. The company also applied for a new exploration licence at Conways, expanding its unconformity-style uranium portfolio in a region historically significant for uranium mining.

Corporate and Stakeholder Engagement

Orpheus’s corporate activities included the sale of 4 million shares in Prospect Resources Ltd, generating $426,000 in gross proceeds while retaining a significant shareholding and milestone rights. The company also held an Extraordinary General Meeting to refresh placement capacity and approve options issuance related to prior capital raises.

Crucially, Orpheus maintains active and respectful engagement with traditional landowners and native title groups across its tenements, recognizing the importance of these relationships in securing regulatory approvals and advancing exploration. This approach aligns with the company’s strategy to responsibly develop uranium projects in mining-friendly jurisdictions.

Looking Ahead

With a strengthened landholding, fresh capital, and a clear exploration roadmap, Orpheus Uranium is well positioned to leverage the rising demand for uranium driven by global nuclear energy expansion. The company’s diversified portfolio across sedimentary and unconformity-style uranium provinces offers multiple avenues for discovery and development in the coming months.