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Korea Electric to Buy Shares of Strathmore Minerals
Feb. 02, 2012 01:56PM PST
Long TailMining Weekly reported Strathmore Minerals (TSX:STM) will sell 13.9% of its shares to Korea Electric Power Corporation (NYSE:KEP) for $8 million.
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.