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Powertech Uranium Corp. reports that it has entered into an agreement with Neutron Energy Inc. to acquire additional land at its Dewey-Burdock project, South Dakota. The terms of the Agreement provide for the retention of a 30% net proceeds interest by Neutron from future production on the acquired acreage and Powertech will be the operator. As additional consideration, Powertech …
Powertech Uranium Corp. reports that it has entered into an agreement with Neutron Energy Inc. to acquire additional land at its Dewey-Burdock project, South Dakota.
The terms of the Agreement provide for the retention of a 30% net proceeds interest by Neutron from future production on the acquired acreage and Powertech will be the operator. As additional consideration, Powertech has agreed to transfer to Neutron approximately 360 acres of claims and leases, along with associated historical drilling data, in South Dakota.
President of Powertech, Richard Clement says:
“This exchange of properties between Powertech and Neutron will assist both companies in achieving their goals of consolidating key acreage that will strengthen their strategic positions at each of their priority uranium development projects. Our acquisition of these key claims and leases, along with the recent acquisition of claims from Bayswater Uranium Corp., will bring Powertech’s land position to approximately 18,000 acres of mineral interests and surface rights at the Dewey-Burdock project.”
For full details of this press release, click this link. To view Powertech’ company profile, click here. Follow developments in uranium mining and exploration for free. Sign on to the Uranium Investing Newsletter.