GB Energy (GBX)

Shares / Stock Code

GBX

Stock Exchange / Sharemarket

ax

GB Energy (GBX) invests in and operates gas and oil exploration and production Licences in Central Europe. The company has acquired interests in seven licences in the eastern Czech Republic. Mainly it is focused on developing and commercialising early stage energy projects through its strategy of project acquisition in the energy and clean-tech and renewable energy sectors.

The company's vision is to identify and partner with outstanding and innovative technology companies - that address a high growth market opportunity - by investing their expertise and capital. GB Energy invests in the early stages of business development including start-up companies and proof of concept funding.

GB Energy through 100% owned subsidiary GBE Exploration Pty Ltd holds three uranium exploration licences in Slovakia covering Permian volcanosedimentary sequences. In nearby licences Canadian company Tournigan Energy Ltd have completed a positive Preliminary Assessment (Scoping Study) and is moving towards a Prefeasibility Study on the development of a published 31 million pound resource at Kuriskova (Indicated Resource 1.19MT grading 0.558% U3O8 for 14.6 million pounds and Inferred Resource 3.78MT grading 0.215% U3O8 for 17.9 million pounds).

Modern systematic uranium exploration programmes have not been conducted on the GB Energy licences which cover uranium mineralisation areas initially explored by the Soviets in the 1960’s. GB Energy has commenced the year 2 exploration programme on the three licences including ground radiometric surveys.