The Conversation (0)
Kivalliq Energy (TSXV:KIV) CEO Jim Paterson provided an update to investors about activities in the last nine months. Highlights include: in July, pursuant to the Mining Option Agreement, Kivalliq received an initial cash payment of CDN$125,000 and acquired ownership of 1,969,828 common shares of Roughrider; in August, Kivalliq and Roughrider began its exploration program at the Genesis Property.
As quoted in the press release:
As an industry, we continue to await clarity on the timing of restarts of Japanese nuclear reactors, as this may provide a catalyst for a reversal in the three year trend of pricing weakness in the uranium spot market. Generally, we have found an improving “mood” amongst industry participants and a corresponding increase in staking activity and financings for uranium exploration in Canada. On August 1, Kivalliq closed a private placement of 5,172,728 units at a price of $0.22 per unit for total gross proceeds of $1,138,000.7 Kivalliq will use the net proceeds from this financing to fund mineral exploration in Saskatchewan and the Nunavut Territory, Canada.
We look forward to providing you another CEO update early in the New Year, this time with initial results from our 2014 exploration campaign at the Genesis Property, and our plans for the Company in 2015.
Click here to read the Kivalliq Energy (TSXV:KIV) press release
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