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U3O8 Corp. Defines a Clear Path Forward for the Laguna Salada Uranium-Vanadium Deposit
Nov. 16, 2017 08:44AM PST
Battery MetalsU3O8 Corp. (TSX: UWE), (OTCQB: UWEFF) (“U3O8 Corp.” or the “Company”) is pleased to outline how the offer of a C$1 million line of credit by the Company’s founder and director, Dr. Keith Barron, in addition to funds recently raised by the Company, will be used to undertake proof-of-concept work on its Laguna Salada uranium-vanadium deposit in Argentina. The funds allow …
U3O8 Corp. (TSX: UWE), (OTCQB: UWEFF) (“U3O8 Corp.” or the “Company”) is pleased to outline how the offer of a C$1 million line of credit by the Company’s founder and director, Dr. Keith Barron, in addition to funds recently raised by the Company, will be used to undertake proof-of-concept work on its Laguna Salada uranium-vanadium deposit in Argentina. The funds allow the Company to do specific test work that, if successful, is likely to significantly improve the economics of Laguna Salada by lowering operating and capital costs from those determined in the positive preliminary economic assessment (“PEA”) undertaken in 2014.
Company founder and director Dr. Keith Barron said:
Company founder and director Dr. Keith Barron said:
“I believe that there is a clear path for U3O8 Corp. to become a uranium and vanadium producer from the Laguna Salada Deposit. To help U3O8 Corp. achieve that goal, I have pledged to support the Company with a convertible debt facility of up to C$1 million to be paid back in shares in a maximum of three years.”