Urano picks up advanced uranium properties in Utah, Colorado
CSE-listed Urano Energy has announced purchase agreements to acquire mineral claims and mining leases located in Utah and Colorado, covering various properties that are prospective for uranium mining.
The company, which is focused on conventional uranium assets in the US, will pay $5.87-million in cash and $4.80-million in shares for the assets.
The shares will be issued at a value equal to the 15-day volume weighted average price as at the date the payment is due.
The vendors will retain a 1% gross royalty in respect of all uranium produced from the mineral claims and a net smelter returns royalty equal to 10% on all vanadium produced on the property.
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