TORONTO (miningweekly.com) – Uranium junior Hathor, which graduated to the TSX main board on Tuesday, has received three mineral leases for its Roughrider project in Saskatchewan.
The Saskatchewan Ministry of Energy and Resources will need to convert the mineral leases into mining leases to allow the company to produce the nuclear fuel at the project.
Hathor rose 3% on the news to trade at C$1,94 a share in early Toronto trade.
The company was trading at C$2,75 a share before the Japanese nuclear crisis wiped billions off the market capitalisations of uranium firms.
Roughrider is located 25 km from Cameco Corp’s Rabbit Lake mine.
Hathor CEO Michael Gunning on March 18 called the deposit “a best of breed asset capable of generating value during any point of a commodity price cycle”.