Highlights

  • Elevate Uranium shares rose 12% to AUD 0.28 during the session.
  • Elevate increased its ownership of the Marenica Uranium Project to 90%.
  • The Marenica resource increased by 31% in June 2026.
  • Koppies has a uranium resource base of 76.2 million pounds of U3O8.

Elevate Uranium Ltd (ASX:EL8) shares moved higher as the company continues to increase its uranium exposure across Namibia.

EL8 shares were trading at AUD 0.28, up 12%, giving the company a Market Capitalisation of approximately AUD 131.79 million. The stock remains 6.67% lower over the past year.

Elevate’s portfolio includes multiple uranium resources and exploration targets in Namibia alongside Australian assets.

Marenica Ownership Rises to 90%

Elevate announced in July that it had increased its ownership of the Marenica Uranium Project to 90%.

The transaction increases the company’s economic exposure to a project where the resource base had already expanded materially during 2026.

In June, Elevate reported a 31% increase in the Marenica uranium resource.

The company has been progressing pre-development work across the project while refining its broader Namibian development strategy.

Koppies Provides Another Large Resource Base

Elevate’s Koppies Project remains another major component of the Namibian portfolio.

In April, the Koppies resource base increased to 76.2 million pounds of U3O8.

The project forms part of a wider uranium district that includes Hirabeb and other exploration targets.

Elevate has also been developing its proprietary U-pgrade process, which is designed to reject a large proportion of barren material before conventional processing.

Pilot Plant and Development Work Continue

The company has been advancing pilot-plant work to test the U-pgrade process at a larger scale.

The technology is intended to reduce the mass of material requiring Downstream processing and could become relevant to future project Economics if testing continues to support its application.

The June-quarter activities report also covered ongoing resource and development work across the Namibian portfolio.

What Could Drive Elevate Uranium Shares Next?

Further resource work and pre-development studies at Marenica and Koppies are likely to provide future milestones.

Pilot-plant results, uranium market conditions and exploration drilling across the wider Namibian portfolio could also influence the next phase.

Elevate Uranium Outlook

Elevate is building a larger uranium position in Namibia through increased Marenica ownership, resource growth and continued work at Koppies. Development studies and process testing will be central to determining how the company converts its resource base into a future project pathway.