Korea Electric to Buy Shares of Strathmore Minerals

Mining Weekly reported Strathmore Minerals (TSX:STM) will sell 13.9% of its shares to Korea Electric Power Corporation (NYSE:KEP) for $8 million.

As quoted in the market news:

Strathmore will use the proceeds to fund development of its Gas Hills project in Wyoming, and Kepco will be allowed to earn a 40% stake in the properties for an additional $32-million spent over three years.

Click here to read the full Mining Weekly report.