Strathmore, KEPCO to Develop Uranium Project in US

Aug. 08, 2011 08:27AM PST

EBR reports Strathmore Minerals(PINK:STHJF) and Korea Electric Power Corporation (NYSE:KEP) to develop Gas Hills uranium properties in Wyoming, US.

The press release is quoted as saying:

Under the terms of the agreement, KEPCO will subscribe for a $8m placement in common shares of Strathmore, along with $2m project development allowance, which will be used for the phase one exploration and development of the Gas Hills properties.
On completion of first phase, KEPCO may enter into a second phase of the programme, to earn up to a 40% interest in the Gas Hills properties, with additional expenditure of $35m over the subsequent three years.

Click here to access the entire news release.