- Labrador Uranium Inc. (LUR) has signed a purchase agreement with Beaconsfield Ventures Ltd. to acquire the Anna Lake Project and the Moran Lake B-Zone prospect
- Labrador Uranium will acquire the assets in exchange for five million of its common shares
- The price per share will be determined on the expected November 1st closing date
- Labrador Uranium will also assume an existing 2.00 per cent net smelter royalty owed to a third party
- Labrador Uranium Inc. (LUR) is up 5.26 per cent and is trading at $0.40 per share as of 3:59 p.m. ET
Labrador Uranium (LUR) has signed a purchase agreement with Beaconsfield Ventures to acquire the Anna Lake Project and the Moran Lake B-Zone prospect.
Labrador Uranium has agreed to acquire the assets in exchange for five million of its common shares, and the price per share will be determined on the closing date, which is expected to be November 1st. The company will also assume Beaconsfield’s responsibilities to pay an existing 2.00 per cent net smelter royalty to a third party.
Stephen Keith, CEO of Labrador Uranium, commented,
“The Anna Lake Project completes a strategic land package that contains multiple uranium and polymetallic targets. The Moran Lake B zone prospects strategically add to our Moran Lake Project and provide LUR with additional exploration targets.”
According to the company, the Anna Lake Project has inferred mineral resources of 5.1 million tonnes with 4.91 million pounds of uranium oxide.
The project is along strike from the Melody Hill prospect, where high-grade uranium values have been found in granite boulders. Labrador’s 2022 fieldwork to the northeast of the Anna Lake Property exposed a similar boulder train.
Labrador Uranium Inc. (LUR) is up 5.26 per cent and is trading at $0.40 per share as of 3:59 p.m. ET.
