Morning Briefing: Property Acquisitions in the Uranium Exploration Space
Good morning and welcome to the Mining Stock Daily Morning Briefing. I’m Trevor Hall.
Its Wednesday, November 27th.
The precious metals stabilized yesterday after a tumultuous beginning of the week. As president-elect Donald Trump announced tariffs on both Canada and Mexico, along with additional tariffs on China, gold investors once again began reeling with the idea of potential trade war impacts. Gold closed the day at $2621 front month, up 1/10th of a percent. Silver, up a half a percent yesterday, closing at $30.40 per ounce. Copper was the big loser on the day, down more than 1.2% and closing at $4.05 per pound.
We’ll get to the news from the miners and explorers here in a moment, but first a quick word about today’s sponsor.
This episode of Mining Stock Daily is brought to you by… Arizona Sonoran Copper.
Arizona Sonoran Copper Company (ASCU:TSX) is focused on developing its brownfield copper project on private land in Arizona. The Cactus Mine Project is located less than an hour's drive from the Phoenix International airport. Grid power and the Union Pacific Rail line situated at the base of the Cactus Project main road. With permitted water access, a streamlined permitting framework and infrastructure already in place, ASCU's Cactus Mine Project is a lower risk copper development project in the infrastructure-rich heartland of Arizona.For more information, please visit www.arizonasonoran.com.
And Here’s what you need to know this morning…..
Cosa Resources has entered into an acquisition agreement with Denison Mines ti acquire the interest in three of Denison’s uranium exploration projects in the Athabasca Basin. The Projects consist of the Murphy Lake North Project, located within four kilometres of IsoEnergy's Hurricane Deposit, the Darby Project, located ten kilometres west of Cameco's Cigar Lake Mine, and the Packrat Project, located 19 kilometres southwest of the Rabbit Lake Mill. Cosa will acquire a 70% interest in each of the Projects from Denison. Cosa will issue 14,195,506 common shares, equivalent to 19.95% of the outstanding Common Shares of Cosa upon completion of the Transaction. (TSX-V: COSA) (OTCQB: COSAF) News Release
And there’s more deals to share in the uranium space today. Urano Energy has entered into purchase agreements to acquire mineral claims and mining leases located in Utah and Colorado, covering various uranium properties that are prospective for uranium mining in consideration for an aggregate of US$5,865,000 in cash and US$4,800,000 in shares of the Company, payable in installments over five years. 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. All vendors are at arm's length to the Company. (CSE: UE) (OTCQB: UECXF) News Release
American Pacific Mining reported assays from 88 rock samples and 141 soil samples collected during this field season. Rock samples returned highlights of 80.6, 38.48 and 19.85 g/t Au and Copper grades of up to 5.2% and 3.3%. The Phase II, 3000m drilling program is being finalized and within the permitting process. The Madison Project was host to small-scale production that concluded in 2012, with 2.7 million pounds of copper produced at grades ranging from 20-30% copper. (CSE: USGD) (OTCQX: USGDF) News Release
Lithium Ionic has received a non-binding letter of interest from Export-Import Bank of the United States to provide up to US$266 million in debt financing for its flagship Bandeira Lithium Project in Brazil. This funding represents 100% of the capital expenditure outlined in its recent Feasibility Study. EXIM’s funding commitment to the Company is conditional upon Lithium Ionic completing the application for funding, satisfactory due diligence by EXIM and EXIM’s customary approval process of a final financial commitment. No information regarding the terms of the debt deal were provided in the news, although it was noted that the financing’s maximum repayment term is 15 years. (TSXV: LTH; OTCQX: LTHCF) News Release
Premium Resources reported their initial mineral resource estimate for the Selkirk Mine in Botswana. The report shows an inferred mineral resource of 44.2 million tonnes at .81% CuEq with contained metal of 132,000 tonnes of copper and 108,000 tonnes of nickel. Palladium and platinum also provide credit to the numbers here. The company says they are evaluating whether the initial MRE cut-off grade assumptions can be improved through future engineering and metallurgical studies. (TSXV: PREM) News Release
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