Against a backdrop of firming uranium prices and a resurgent uranium sector, Anglo Canadian Uranium (URA-V) is putting together a consortium with three companies to advance a number of U.S. uranium exploration projects and build a mill.
Anglo Canadian has 13 exploration projects, all 100%-owned, mostly in Colorado, and also in Utah and New Mexico. It is forming the consortium with Drilling Consultants, Bluebird Partners and Mancos Resources.
Bluebird Partners is an exploration company with uranium properties in southwestern USA. Drilling Consultants has uranium projects in Colorado, Utah and New Mexico. Mancos Resources and its wholly-owned subsidiary Bluerock Energy are in the process of permitting a uranium mill near the town of Green River, Utah. The mill has not been built yet.
Anglo Canadian Uranium has 40.1 million shares outstanding, or 46.7 million shares fully diluted. On the news, the shares gained 3.5¢ to 13¢, with 448,000 shares changing hands. The shares have been trading in a 2.5-26¢ range over the past 12 months.
In addition to its uranium exploration projects in the U.S., Anglo Canadian has two uranium exploration projects in Quebec’s Otish basin, and a number of gold exploration projects. On January 31 the company had working capital of $1 million.
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