Uranium One’s Resurrection

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Thu, Jul 2, 2009
Uranium Market News
Post by Melissa Pistilli, Uranium Reporter

Seeking Alpha(EDITORIAL) reports Uranium One’s comeback.

It seems that Uranium One has raised the stakes.  They entered into an agreement to purchase half of another uranium mine in Kazakhstan, which will increase the company’s production in 2010 by 35%.  In exchange for this ownership stake, Uranium One will issue 117 million shares and US$90 million to JSC Atomredmetzoloto, a Russian state-owned uranium miner (another US$60 million payment is contingent on whether certain tax issues can be worked out).  The other 50% of the mine is owned by JSC Kazatomprom, the Kazakh state-owned uranium miner, who also holds stakes in Uranium One’s other mines.

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