LONDON (Thomson Financial) - Nufcor Uranium Ltd. said it has agreed to
purchase 237,000 kilos of uranium for $38.9 million from a major international
counterparty for payment and delivery in the fourth quarter.
The purchase is equivalent to approximately 620,532 pounds of triuranium
octoxide (U3O8) at an inferred price of $59.03 per pound.
The company said it intends to pay for the purchase from existing cash
resources and via the proceeds of its proposed offering of new shares in Canada,
but that if the offering does not go ahead it will fund the purchase via the
sale of existing uranium assets and new credit facilities.
Nufcor added it expects its preliminary prospectus for the Toronto Stock
Exchange listing to be approved by Canadian regulators by the end of this month.
TFN.newsdesk@thomson.com
ran/vlb
COPYRIGHT
Copyright Thomson Financial News Limited 2008. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|