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Tournigan Energy Ltd.(TSXV:TVC) reported that is nearly ready to form its strategic alliance with AREVA. As part of this alliance, Tournigan will acquire seven uranium properties from Mawson Resources. The new properties are all located in Sweden and Finland, as the acquisition Tournigan will commence trade under the new name of European Uranium Resources Ltd.
Tournigan Energy Ltd.(TSXV:TVC) reported that is nearly ready to form its strategic alliance with AREVA. As part of this alliance, Tournigan will acquire seven uranium properties from Mawson Resources. The new properties are all located in Sweden and Finland, as the acquisition Tournigan will commence trade under the new name of European Uranium Resources Ltd. (TSXV:EUU).
As quoted in the press release:
The record date will be March 1, 2012, for the consolidation of the common shares of Tournigan on a 5 old for 1 new basis and its name will be changed to European Uranium Resources Ltd. At the opening of trading on March 1, 2012, the Company will trade on the TSX Venture Exchange as EUU.
Tournigan’s President and CEO, Dorian L, said:
We have been preparing for this re-launch of the Company as an advanced stage pure-play uranium company called European Uranium Resources Ltd with projects in Slovakia, Sweden and Finland. Europe has 186 nuclear power plants in operation and 19 new plants under construction and there is only one operating uranium mine within the European Union, in the Czech Republic. Clearly, Europe, a region with the world’s largest per capita consumption of uranium, has an urgent need to develop uranium production
Click here to read the Tournigan Energy Ltd. (TSXV:TVC) press release
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