JOHANNESBURG (miningweekly.com) – Shareholders of Turkey-focused Uranium Resources have approved the company’s $12-million funding arrangement with Aspire Capital Fund, the ASX-listed uranium developer reported on Thursday.
The purchase agreement, under which Uranium Resources would place stock with Aspire over a 30-month term, was executed in April.
“With shareholders' support, and despite a challenging commodity and capital markets environment, we have been able to make important progress in the execution of the strategy we defined three years ago – that is, to advance the development of low-cost, near-term production,” said Uranium Resources president and CEO Christopher Jones.
Uranium Resources was focused on advancing the Temrezli in-situ recovery project in central Turkey. It also controlled extensive exploration properties under nine exploration and operating licences covering about 13 000 ha with numerous exploration targets, including the potential satellite Sefaatli project.
The company also had assets in the US.