DGAP-Media: Uranio AG: Announcement
(firmenpresse) - Uranio AG / Enterprise
04.03.2010 18:34
Dissemination of a Media Release, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Basel, 4th March 2010
Uranio AG is a Swiss based exploration company focused on the exploration
and development of uranium deposits worldwide. Itss shares are traded on
the Frankfurt Stock Exchange under the WKN: A0M KD4 (ISIN: CH0028827852)
The Company owns more than 80.000 hectares of exploration licences in
Argentina and two consessions in the world famous Central African Republic
uranium area Bakouma known as Bakouma North and Ndenguiero. More details on
www.uranio.ch
The Board of Uranio AG ('the Company') is pleased to announce that it has
now entered into a binding heads of agreement ('the Heads of Agreement')
with Mercator Gold plc ('Mercator'), Company listed on the AIM market of
the London Stock Exchange, with respect to all exploration and mining
licenses and applications held by the Company's subsidiary in Argentina
Uranio del Sur ('the Licenses').
Highlights
- Terms agreed on which Mercator may, at its option, earn in to an interest
of up to 70% in the Licenses ('the Earn In') by expending the sum of
US$5.7m on exploration, evaluation, development and associated activities
over a period of four years.
- For the duration of the Earn In, Mercator would pay to Uranio AG the sum
of US$150,000 per year.
- A four-month due diligence period, extendable by three months, has
commenced. The due diligence is to include ground scintillometer surveys
and surface sampling with a view to delineating areas of economic uranium
mineralisation. Mercator's due diligence is expected to culminate in the
completion of a desktop study on the Licenses, which would be shared with
Uranio for its use.
- Argentina is recognised as a highly prospective territory for uranium
exploration, and the French nuclear energy group AREVA is known to be
considering the construction of a uranium mill in the country.
- The Licenses, which total in excess of 80,000 hectares of granted
tenements, will be evaluated for uranium as well as precious and base metal
potential.
- The Licenses include one 4,000 hectare tenement located in close
proximity to the historic Los Mogotes Colorados uranium mine.
The Board of Uranio AG is confident to improve shareholders value by
enhancing the value of its Argentinean assets through the signed joint
venture with Mercator.
On behalf of the Board of Uranio AG,
Luca Tenuta (CEO)
04.03.2010 18:34 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Datum: 04.03.2010 - 18:34 Uhr
Sprache: Deutsch
News-ID 17151
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 255 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-Media: Uranio AG: Announcement"
steht unter der journalistisch-redaktionellen Verantwortung von
Uranio AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
