Comment: Please notice below two articles about uranium mining companies stock dealings. If Virginia allows uranium mining to take place in Southside, will we be able to find the original owners of the uranium mining and milling corporations. We have seen already the mergers of Canadian uranium mining corporations merging with the local uranium company in Virginia. This will make it harder to follow the original owners once the uranium mining, milling is abandoned, and it becomes a superfund site. Therefore, the taxpayers will be paying for a uranium mining and milling superfund cleanup. Demand now the State of Virginia to ban uranium mining and milling today! August 10, 2009
Uranium One Inc. announced that it has entered into a definitive agreement to acquire 100% of the MALCO Joint Venture (”MALCO”) from wholly-owned subsidiaries of AREVA and EDF for US$ 35 million in cash.
The assets of MALCO include the licensed and permitted Irigaray ISR central processing plant, the Christensen Ranch satellite ISR facility and associated U(3)O(8) resources located in the Powder River Basin of Wyoming.
The Irigaray and Christensen Ranch facilities are expected to form the basis of a new operating plan for the Company’s projects in Wyoming. Uranium One anticipates that its Moore Ranch project will now become a satellite ISR operation, with loaded resins being transported to Irigaray for further processing into dried U(3)O(8). Uranium One’s additional projects in the Powder River Basin, including Ludeman, Peterson, Allemand-Ross and Barge could also be developed as satellite operations with final processing through Irigaray.
Jean Nortier, President and Chief Executive Officer of Uranium One said:
“The acquisition of the Irigaray and Christensen Ranch ISR facilities is an excellent complement to our current Wyoming uranium resource portfolio. By acquiring existing, licensed production facilities, we will reduce the permitting and construction risk associated with developing our own central production plant. Now, with a clear path to commencing uranium production in the U.S., we believe that the underlying value of our Wyoming asset base will become apparent.”
Closing of the transaction is expected to take place during H1 2010 and is subject to regulatory approvals including U.S. Nuclear Regulatory Commission (”NRC”), Wyoming Department of Environmental Quality (”WDEQ”), Texas Commission on Environmental Quality and the Committee on Foreign Investment in the United States. Closing is also subject to a financing condition which the Company expects will be satisfied by the completion of the previously announced private placement of 117,000,000 common shares of Uranium One to a consortium of Japanese companies for proceeds of approximately C$ 270 million
http://www.miningtopnews.com/uranium-one-enters-into-definitive-agreement-to-acquire-christensen-ranch-and-irigaray-in-wyoming.html
Cameco Prepares to Sell Stake in Centerra, Globe and Mail Says
By Kevin Bell
Aug. 10 (Bloomberg) -- Cameco Corp. is preparing to sell its 49 percent stake in Centerra Gold Inc. through a public stock offering that may raise more than C$600 million ($555 million), the Globe and Mail reported.
The Saskatoon, Saskatchewan-based uranium mining company hired RBC Dominion Securities and CIBC World Markets to handle the stock sale, the newspaper said today, citing unidentified people.
Cameco had signaled it intended to sell its gold holdings and concentrate on uranium, the Globe said. Political conditions in Kyrgyzstan and Mongolia, where Centerra operates, have stabilized, clearing the way for a sale, it said.
http://www.bloomberg.com/apps/news?pid=20601082&sid=aADpI1_6dQxw
Uranium One Inc. announced that it has entered into a definitive agreement to acquire 100% of the MALCO Joint Venture (”MALCO”) from wholly-owned subsidiaries of AREVA and EDF for US$ 35 million in cash.
The assets of MALCO include the licensed and permitted Irigaray ISR central processing plant, the Christensen Ranch satellite ISR facility and associated U(3)O(8) resources located in the Powder River Basin of Wyoming.
The Irigaray and Christensen Ranch facilities are expected to form the basis of a new operating plan for the Company’s projects in Wyoming. Uranium One anticipates that its Moore Ranch project will now become a satellite ISR operation, with loaded resins being transported to Irigaray for further processing into dried U(3)O(8). Uranium One’s additional projects in the Powder River Basin, including Ludeman, Peterson, Allemand-Ross and Barge could also be developed as satellite operations with final processing through Irigaray.
Jean Nortier, President and Chief Executive Officer of Uranium One said:
“The acquisition of the Irigaray and Christensen Ranch ISR facilities is an excellent complement to our current Wyoming uranium resource portfolio. By acquiring existing, licensed production facilities, we will reduce the permitting and construction risk associated with developing our own central production plant. Now, with a clear path to commencing uranium production in the U.S., we believe that the underlying value of our Wyoming asset base will become apparent.”
Closing of the transaction is expected to take place during H1 2010 and is subject to regulatory approvals including U.S. Nuclear Regulatory Commission (”NRC”), Wyoming Department of Environmental Quality (”WDEQ”), Texas Commission on Environmental Quality and the Committee on Foreign Investment in the United States. Closing is also subject to a financing condition which the Company expects will be satisfied by the completion of the previously announced private placement of 117,000,000 common shares of Uranium One to a consortium of Japanese companies for proceeds of approximately C$ 270 million
http://www.miningtopnews.com/uranium-one-enters-into-definitive-agreement-to-acquire-christensen-ranch-and-irigaray-in-wyoming.html
Cameco Prepares to Sell Stake in Centerra, Globe and Mail Says
By Kevin Bell
Aug. 10 (Bloomberg) -- Cameco Corp. is preparing to sell its 49 percent stake in Centerra Gold Inc. through a public stock offering that may raise more than C$600 million ($555 million), the Globe and Mail reported.
The Saskatoon, Saskatchewan-based uranium mining company hired RBC Dominion Securities and CIBC World Markets to handle the stock sale, the newspaper said today, citing unidentified people.
Cameco had signaled it intended to sell its gold holdings and concentrate on uranium, the Globe said. Political conditions in Kyrgyzstan and Mongolia, where Centerra operates, have stabilized, clearing the way for a sale, it said.
http://www.bloomberg.com/apps/news?pid=20601082&sid=aADpI1_6dQxw
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