Mega Uranium Ltd. (TSX:MGA) and NexGen Energy Ltd. announced a definitive agreement, allowing NexGen to acquire the majority of Mega’s Canadian uranium projects in exchange for 16,406,815 common shares.
As quoted in the press release:
The Canadian Projects and NexGen’s Radio project will collectively represent one of the most promising uranium exploration portfolios in Canada, with projects in the uranium-prolific Athabasca Basin that include:
- Radio: NexGen has an option to acquire a 70% interest in the Radio property, which is situated directly to the east of Rio Tinto Group’s Roughrider property. The Radio property covers interpreted eastern extensions of the E-W structure that hosts Roughrider, Roughrider Far East and Fission Energy Corp.’s J-zone. NexGen has recently secured drill permits for the Radio project and anticipates commencing drilling in Q1 2013.
Peninsula Energy (ASX:PEN) is set to be the ASX’s next uranium producer. Its flagship Lance Projects in Wyoming is headed towards production in 2015, with purchasing contracts secured for 2015 to 2024.Connect here and don't miss their next catalyst!Learn More