Daniel Stewart and Company: URU Metals

Daniel Stewart and Company reported on the valuation of Uru Metals (LSE:URU) stake in UrAmerica.

As quoted in the press release:

Valuation of Stake in UrAmerica:

• URU Metals owns a 7.36% stake in UrAmerica which has uranium mining rights in Argentina.

• UrAmerica has signed a Strategic Alliance Agreement with Cameco Global South America.

• Cameco has purchased 19.9% of UrAmerica’s equity for $10m giving them certain rights.

• Cameco now has the exclusive right to acquire 70% of each deposit discovered by UrAmerica within all the mining rights currently controlled by the company in the San Jorge Basin, Chubut Province, Argentina.

• UrAmerica will hold the balance of 30% of such deposits.
• This implies that based on the purchase price URU Metals’ 7.36% stake in UrAmerica is valued at approximately $3.7m.

Click here to read the Daniel Stewart and Company press release.