GoviEx and Toshiba Agree to Two-year Bond Extension

GoviEx Uranium (XSE:GXU) announced that its strategic partner Toshiba (TYO:6502) has agreed to a two-year extension  of an early redemption right of Toshiba’s uranium loan (B Bond), to December 31, 2017.
As quoted in the press release:

Govind Friedland, GoviEx’s Executive Chairman, welcomed the agreement as a “definitive confirmation of the ongoing, high-level and long-term support that we continue to receive from Toshiba, our largest nuclear-industry partner. GoviEx remains focused on advancing the mining permit application process for its Madaouela Project.

Daniel Major, CEO of GoviEx, commented:

By agreeing to this extension, GoviEx and its strategic partner Toshiba reaffirm our commitment to the commercial development of the Madaouela Project in the prolific Arlit uranium-mining district of northern Niger.

Govind Friedland, executive chairman of GoviEx, commented:

We remain optimistic that the extended redemption date will more closely align with improved uranium market conditions. Indications from Japan point to the continued restart of idled nuclear power plants, and the outlook includes significant anticipated growth in nuclear power production in China, India and the Middle East.

Click here to read the full GoviEx Uranium (XSE:GXU) press release.