ASX-listed Gladiator Resources Ltd (GLA) announced it is in discussions with multiple groups for the purchase of its Tanzanian uranium prospects located within the Mkuju region in the south-west of the country.

The company said offers on the prospects — South-West Corner, Mtyona, Likuyu North and Foxy — were expected in the coming months, with proceeds likely to strengthen its balance sheet and allow Gladiator to focus on rare-earth projects in the United States.

“The Board believes that completing a transaction has the potential to be transformational, crystallising near-term value in Tanzania while securing a strong cash position that allows Gladiator to drive its US rare earth strategy and reducing dilution to shareholders,” the company said. “Shareholders will be updated in line with the Company’s continuous disclosure obligations and are cautioned that no transaction may eventuate.”

Investor interest in Tanzania’s uranium sector is growing, with the Mkuju River deposit estimated to contain 58,500 tonnes of uranium, making it one of the largest in Africa, according to Nuclear Business Platform. Meanwhile, the United States is working to secure critical rare-earth supplies, holding around 1.8mn tonnes of reserves but currently operating only one mine at Mountain Pass, California, according to the US Geological Survey.

Gladiator’s assets are located near Uranium One’s Nyota Project, where more than AUD1.2bn has been invested, including a pilot uranium processing facility commissioned in July 2025 with planned output of up to 3,000 tons a year.

As bne IntelliNews reported, laboratory analyses from Gladiator’s Likuyu North deposit confirmed significant uranium mineralisation, including intersections of 0.4 metres at 1,031 ppm U₃O₈ and 1.7 metres at 690 ppm U₃O₈. The results suggest the potential for resource expansion, with mineralisation extending 350 metres southeast of the existing 4.6-mn-pound Mineral Resource Estimate.