What Moab does

Moab Minerals Limited (ASX:MOM, formerly Delecta Ltd) is an Australian-domiciled, ASX-listed junior mining exploration and project-development company headquartered in North Perth, Western Australia. Founded in 1999 and managed since inception by Malcolm Day, the company holds an 11–50 employee organisation built around a portfolio of early-stage uranium, vanadium, gold, copper, cobalt, and lithium exploration assets. Its core assets are the 60%-owned REX Uranium-Vanadium Project in Colorado's Uravan Mineral Belt (containing historic mines such as Blackfoot/Rattlesnake, Wedge, Merry Widow, Sunbeam, and Vanadium King, covering approximately 5,000 acres of BLM claims within trucking distance of the only operating US conventional U-V mill at White Mesa), and the Manyoni and Octavo uranium projects in Tanzania held through its majority-owned subsidiary Katika Resources Ltd (acquired July 2024), with Octavo directly adjacent to Rosatom's Nyota deposit. Secondary assets include the Highline Copper-Cobalt Project in Southern Nevada, the Speedway Gold Project in Western Utah, the Woodlands and Mt Amy Projects in Western Australia, and a 14.64% interest in CAA Mining (Ghana lithium and gold, acquired June 2023).

Its core technology is conventional mineral exploration — geological surveying, drilling, sampling, and metallurgical analysis — applied via domain-specialised targeting methods such as Uravan Mineral Belt Salt Wash paleo-channel mapping (REX) and Tanzanian Archaean Shield schröckingerite/carnotite targeting (Manyoni/Octavo). The company leverages legacy exploration datasets from prior owners such as Uranex Ltd at Manyoni as a starting baseline and uses an in-country partner (Galo Capital Ltd, 20% holder in Katika, whose MD serves as Exploration Manager) to manage Tanzanian operations, community, and regulatory interfaces.

Moab is pre-revenue: it generates no product sales and creates shareholder value by acquiring and advancing exploration-stage projects toward resource definition, then either developing toward production or transacting via farm-out/joint-venture or offtake arrangements with larger mining counterparties (the value-prop described in the input). Customer-facing activity is limited to ASX-mandated disclosure (announcements, investor presentations, AGM/IR engagement) and to the ASX-listed equity itself as the distribution channel to retail and institutional investors globally. Monetisation events to date include the 2023 CAA Mining equity stake, the 2024 Katika majority acquisition (undisclosed), and the announced 2026 issuance of 62.5 million ordinary shares for the AuKing tenement package; an Imbas Mining acquisition was terminated following unsatisfactory due diligence.

Name

Moab

Legal name

Moab Minerals Limited

Website

https://moabminerals.com.au

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

11–50 employees

Short description

Moab Minerals Limited (ASX:MOM) is a pre-revenue Australian junior mining exploration and project-development company advancing a multi-jurisdiction portfolio of uranium, vanadium, gold, copper, cobalt, and lithium assets, with core projects in Colorado (USA) and Tanzania, targeting future offtake or farm-out deals with mining counterparties and listed equity investors as its distribution channel.

Ownership category

akta.pro rank

Product category

Mineral Exploration

NAICS

Copper, Nickel, Lead, and Zinc Mining (21223)

SIC

Metal Mining (1000)

akta.pro primary industry

Exploration & Resource Development (Critical Minerals) (IMAKAFAL)

akta.pro secondary industry

Copper Exploration & Resource Development (IMAKADAA)

Keywords

• Uranium exploration
• Mineral exploration
• Vanadium mining
• Critical minerals development
• Project development

Headquarters

HQ city

Perth

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Others

Revenue model

1. Pre-Revenue Exploration: Moab Minerals is a pre-revenue junior exploration company. The company generates no current revenue from its mining projects. Value creation comes through exploration success, resource definition, and either development toward production or farm-out/joint venture arrangements with larger mining companies.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Moab Minerals is a pre-revenue junior mineral exploration and project development company that acquires, explores, and develops uranium, vanadium, gold, copper, cobalt, and lithium exploration assets across Tanzania, the United States, Western Australia, and Ghana. The company does not currently produce or sell minerals; value creation is intended through exploration success, resource definition, and future farm-out, joint venture, or offtake arrangements with larger mining counterparties.

Product overview

Moab Minerals (ASX:MOM) is a mining exploration and project development company with a portfolio of uranium, vanadium, gold, copper, and cobalt projects. The company's primary focus is on the REX Uranium-Vanadium Project (60% owned) in Colorado's Uravan Mineral Belt, and the Manyoni and Octavo Uranium Projects in Tanzania acquired in 2024 through subsidiary Katika Resources Ltd. The company also holds the Highline Copper-Cobalt Project in Nevada, Speedway Gold Project in Utah, and Woodlands and Mt Amy Projects in Western Australia, plus a 14.64% stake in CAA Mining for Ghana lithium and gold exploration.

Differentiator

Problem solved

Functional benefit

Products and services

• REX Uranium-Vanadium Project Uranium-vanadium exploration project located in the Uravan Mineral Belt of Colorado, USA. The project is 60% owned by Moab Minerals and contains historic uranium mines including Blackfoot/Rattlesnake, Wedge, Merry Widow, Sunbeam and Vanadium King, covering approximately 5,000 acres across 256 contiguous BLM mining claims.
• Manyoni Uranium Project Uranium exploration project in Tanzania, approximately 100km northwest of Dodoma. Held through Moab's majority stake in subsidiary Katika Resources Ltd, with substantial historical drilling data from prior Uranex Ltd programs.
• Octavo Uranium Project Uranium exploration project in Tanzania adjacent to Rosatom's world-class Nyota Uranium Deposit (formerly ASX-listed Mantra Resources Ltd; A$1.02bn takeover in 2011). Geological model targets uranium in Triassic sandstone overlying granite basement rocks.
• Highline Copper-Cobalt Project Copper-cobalt exploration project in the mineral-rich Goodsprings district of Southern Nevada, USA, comprising 5 patented mining claims totaling 90.4 acres, located 48 km southwest of Las Vegas.
• Speedway Gold Project Gold exploration project located in Western Utah, USA, held by Moab Minerals as part of its diversified multi-commodity portfolio.
• CAA Mining Interest 14.64% minority interest in CAA Mining, an exploration and development company focused on lithium and gold exploration in Ghana, Africa, providing Moab shareholders with interest in three lithium projects complementary to its existing assets.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Katika Resources LtdcoreStrategic or Co-development Partner · 8 July 2024Moab Minerals acquired a majority stake in Katika Resources Ltd (a Tanzanian company) on 8 July 2024. Katika Resources holds the Manyoni and Octavo uranium projects in Tanzania. This acquisition was the primary transaction that expanded Moab's portfolio into Tanzania uranium exploration.
• CAA MiningminorStrategic or Co-development Partner · 1 June 2023In June 2023, Moab acquired an initial 14.64% interest in CAA Mining, an exploration and development company focused on lithium and gold exploration in Ghana, Africa. This provides Moab shareholders with exposure to three lithium projects complementary to existing assets.
• Galo Capital LtdcoreStrategic or Co-development PartnerGalo Capital Ltd owns 20% of the shares in Katika Resources Ltd. The Managing Director of Galo Capital, Mr. Lugembe Kahungwa, serves as Exploration Manager for in-country operations. This partnership provides local Tanzanian expertise, in-country management, and government relationships essential for operating in Tanzania.
• AuKingminorStrategic or Co-development PartnerMoab Minerals is acquiring four strategic uranium tenements adjacent to its Manyoni Uranium Project from AuKing, subject to shareholder approval. The consideration is 62.5 million ordinary shares, expected to be issued in June 2026.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Energy Fuels Inc: NYSE/TSX-listed uranium and vanadium producer operating the White Mesa Mill — the exact toll-milling asset Moab's REX project is targeting. Highly comparable given shared Uravan Belt operational footprint and toll-milling relationship.
• NexGen Energy: TSX-listed uranium developer advancing the Arrow deposit in Canada's Athabasca Basin. Comparable as a uranium pure-play developer with global tier-one asset ambition, offering investors an alternative leveraged uranium exposure.
• Uranium Energy Corp: NYSE/TSX-listed uranium producer and developer with US-focused ISR operations in Texas and Wyoming. Comparable as a US-uranium operator with toll-milling-adjacent positioning similar to what Moab targets at REX.

Direct peers

• Deep Yellow Limited: ASX-listed uranium developer with Tumas project in Namibia and Mulga Rock in Western Australia. Comparable as a multi-asset uranium developer with African and Australian exposure at a similar scale.
• Peninsula Energy: ASX-listed uranium developer restarting the Lance ISR project in Wyoming, USA. Comparable to Moab given its US uranium focus and ISR/toll-milling pathway similar to what REX could pursue.
• Boss Energy: ASX-listed uranium developer restarting the Honeymoon ISR mine in South Australia. Directly comparable as a junior uranium developer with a clear production pathway, similar headcount, and shared ASX small-cap investor base.
• Paladin Energy: ASX-listed uranium developer and producer focused on Langer Heinrich (Namibia). Comparable as a uranium pure-play with multi-jurisdiction African and Australian exposure at a similar early-to-mid stage of development.
• Bannerman Energy: ASX-listed uranium developer advancing Etango project in Namibia. Comparable as a uranium single-commodity junior developer targeting production within a similar ASX small-cap band.
• Lotus Resources: ASX-listed uranium developer advancing the Kayelekera project in Malawi. Comparable as a junior uranium developer in Africa with similar exploration-to-development stage and small-cap profile.
• Aura Energy: ASX-listed uranium/tin developer with Tiris project in Mauritania. Comparable as a junior uranium developer with a similar asset scale and exploration-to-development stage.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/MoabMineralsLtd
• LinkedInlinkedin.com/company/moab-minerals

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Moab