Uranium Energy Corp. (NYSE:UEC) announced on Tuesday that it has acquired a portfolio of exploration-stage projects in Saskatchewan’s Athabasca Basin from Rio Tinto Exploration Canada, a subsidiary of Rio Tinto Inc, for a total consideration of C$1.5 million.
The diversified North American-focused uranium company said the assets are comprised of a 60% equity stake in the Henday Lake joint venture, 100% of the Milliken project, and a 50% equity interest in the Carswell joint venture project.
"This is our third acquisition in the Athabasca Basin in the last 12-months and builds on the landmark acquisitions of UEX and the Roughrider project," Uranium Energy Corp. (NYSE:UEC)CEO Amir Adnani said in a statement.
"This acquisition represents an important component in our strategy to assemble a premier North American uranium portfolio, featuring near-term US production, Canadian development-stage projects including joint ventures, and a pipeline of exploration projects with excellent growth potential," he added.
Uranium Energy noted the transaction adds 44,444 acres of prospective ground in the Athabasca Basin to its existing portfolio of 1,091,639 acres.
The company added that it had $125.4 million of cash and liquid assets and no debt, as of April 30, 2023.
Contact Sean at sean@proactiveinvestors.com