1/2/2023 0 Comments Denison mines fission uranium![]() ![]() In the event that the mining licences are not issued and Uranium Industry does not otherwise elect to make the deferred payment by that date, the shares of Denison Mines (Mongolia) will be transferred back to Denison.ĭenison says it has carried out considerable work towards the submission of the mining licence applications and understands that all the necessary materials for the licence applications have been prepared and that the GSJV is eligible to receive the licences.ĭenison is in the process of merging with Fission Uranium to form Denison Energy Corp, consolidating the two companies' strategic uranium assets in Canada's Athabasca Basin, including Fission's Patterson Lake South project and Denison's interests in Wheeler River and the McClean Lake uranium mill. The deferred payment is guaranteed in the event that mining licences are granted to the GSJV for the Hairhan, Haraat, Gurvan Saihan, and Ulziit projects by 30 November. The venture now holds 167,260 hectares in four exploration licences which the GSJV wishes to convert into mining licences. ![]() The remaining 15% is held by Mongolian state-owned uranium company MonAtom. Denison acquired Geologorazvedka's share in 2011, giving it a total share of 85%. The GSJV was created in 1994 by Denison, the Mongolian government and Geologorazvedka of Russia to explore and develop uranium deposits, particularly those amenable to in-situ leach extraction, in the south Gobi region of Mongolia. ![]() Denison Mines (Mongolia) holds an 85% interest in the GSJV, as well as a 100% interest in GSJV's operator, Denison Mines Mongolia LLC. The transaction involves the transfer of all of the shares of Denison's wholly owned subsidiary, Denison Mines (Mongolia) Ltd, to Uranium Industry. Closing is set to take place on or before 8 September. of the Czech Republic for $20 million.ĭenison announced today that it has signed a definitive share purchase agreement whereby it will receive an initial payment of $250,000 on closing and a deferred payment of $19,750,000 by 30 November. Denison Mines is to sell its interest in the Gurvan Saihan joint venture (GSJV) in Mongolia to Uranium Industry a.s. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |