mcarthur river mine stock
Under the Cigar Lake joint venture agreement and related agreements, made effective Jan. 1, 2002, the mineral lease and mineral claims were divided into the Cigar Lake lands, consisting of ML-5521 and claim S-106558, and the Waterbury Lake lands, consisting of the remaining 36 claims. (2) Uranium 2020: Resources Production and Demand -- IAEA and NEA joint report. View 33 Mcarthur River Mining jobs at Jora, create free email alerts and never miss another career opportunity again. In total the company used 1 trading name. The Company generally relies on publicly available information regarding these properties and related operations and generally has no ability to independently verify such information. Mcarthur River Mining Pty Ltd has been using the Mcarthur River Mine Joint Venture trading name since 2000-07-10 (it has to be noted that the Australian Business Register no longer collects or updates trading names). In December, 2020, Cameco announced that it had suspended operations at Cigar Lake due to impacts from COVID-19. It’s the highest grade depository of uranium in the world with major deposits including Cameco’s McArthur River Mine (the world’s largest high-grade uranium deposit) and Cigar Lake Mine, Nexgen’s Arrow Project, Fission’s PLS Project, and Denison’s Wheeler River Uranium Project which includes the high-grade Phoenix and Gryphon deposits. The sacred site watchdog says it is deeply concerned by the NT Government's greenlight for Glencore's McArthur River Mine expansion, and has warned against a repeat of WA's Juukan Gorge disaster. The mineralization occurs between 410 to 450 metres below surface with a strike length of approximately 1,950 m. In addition to the resources outlined above, the historical Tibia Lake showing has been outlined approximately 800 metres north of the Cigar Lake mine, though the deposit does not have any resources attributed to it as disclosed by Cameco. The mine was in production since 1999 until placed on care and maintenance in 2018 due to uranium market conditions. Darcy Hirsekorn, the Company's Chief Technical Officer, has supervised the preparation of and reviewed the technical information contained in this presentation. The production track record of McArthur River and Cigar Lake demonstrates the true scale of these mines. Total consideration payable by the company under the transaction is $11.5-million (U.S.), which will be satisfied by the company on closing by paying $10.0-million (U.S.) (approximately $12.7-million (Canadian)) in cash and issuing 970,017 common shares. Mining at McArthur River utilizes unique ground freezing to mitigate risks of high-pressure groundwater and a blend of blasthole stoping and raisebore mining. Commerce Policy |
The production track-record of McArthur River and Cigar Lake demonstrates the true scale of these mines. Certain statements in this news release may constitute "forward-looking statements", including those regarding the expected completion of proposed acquisitions, uranium markets and expectations regarding projects in which the Company has an interest. This accretive acquisition capitalizes on our first mover advantage to become a royalty holder on two of the most significant mines in the sector. The mine is currently owned by a joint venture between Cameco (69.805 per cent) and Orano (30.195 per cent). McArthur River Project: 1% Gross Overriding Royalty ("GOR") on an approximate 9% share of uranium production derived from Orano's ownership interest (~30%). Parent company Teck has a market cap … With major producers as operators, we have the benefit of counterparties with proven operating track records and best in class environmental, social and corporate governance (ESG) practices. The mine is located approximately 620 kilometres north of Saskatoon, Saskatchewan. As of the end of December, 2020, the two mines have produced a total of about 418 million lb of U3O8, with 325 million lb from McArthur River and 93 million lb from Cigar Lake. Under the Cigar Lake Joint Venture Agreement and related agreements, made effective January 1, 2002, the Mineral Lease and Mineral Claims were divided into the Cigar Lake lands, consisting of ML-5521 and claim S-106558, and the Waterbury Lake lands, consisting of the remaining 36 claims. Status of the McArthur River and Cigar Lake Mines: Pursuant to the Agreement, URC has agreed to acquire the royalties from Reserve Industries Corp. and Reserve Minerals Inc. for a total purchase price of US$11.5 million (approximately, C$14.6 million). The report was the last of five reports into the McArthur River mine. There is also scope for production growth once operations resume, as the joint venture partners, Cameco and Orano, have disclosed receipt of permit approvals to further increase production up to 43 Mlbs U3O8 per year. The mine has been in production since 2015 until Cameco announced that operations were temporarily suspended in both March and. The company intends to execute on its strategy by leveraging the deep industry knowledge and expertise of its management team and the board to identify and evaluate investment opportunities in the uranium industry. In 2020, we began a program to advance the assessment of innovation opportunities at the McArthur River mine and Key Lake mill. The company currently expects to finance the transaction through its current cash position and holdings of listed securities. From there it is shipped around the world. The company later established and maintained a royalty position that ultimately paid off with the discovery of the world-class McArthur River and Cigar Lake mines on ground covered by the royalty. The company currently holds a … Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS. ", Scott Melbye, chief executive officer of the company, stated: "This transformational transaction provides URC a key building block for our business with exposure to potential near- and longer-term cash flow from existing world-class operations. The McArthur River Mine is a fully developed underground mine operation located in Northern Saskatchewan, Canada approximately 620 km north of Saskatoon. McArthur River handling and processing of mineralized material Mined material is scanned and transported in load-haul-dump vehicles and depending on grade and production requirements fed directly to the underground grinding circuit, stockpiled underground in … Jobs in McArthur River Mining. Find the latest MINERCO INC (MINE) stock quote, history, news and other vital information to help you with your stock trading and investing. The mine was in production from 1999 until placed on care and maintenance in 2018 due to uranium market conditions. Mcarthur River Mining Pty Ltd was registered for the GST on 2000-07-01. The Cigar Lake deposit was discovered in 1981 and placed into production in 2014. The McArthur River deposit is a high-grade, unconformity-related uranium deposit with an average stated grade of 6.89% U3O8 for remaining reserves disclosed by Cameco as at December 31, 2020. A number of factors could cause actual results to differ materially from such forward-looking statements, including, without limitation, any inability to satisfy conditions to completion of the transaction or to complete the transactions as contemplated or at all, any ability of such operators to achieve production, risks inherent to royalty companies, uranium price volatility, risks related to the operators of the projects underlying the Company's existing and proposed interests and those other risks described in the Company's Management's Discussion and Analysis for the year ended April 30, 2020 and other disclosure documents, available on SEDAR at www.sedar.com. Specifically, as a royalty holder, the Company has limited, if any, access to the properties subject to its interests. In December 2020, Cameco announced that it had suspended operations at Cigar Lake due to impacts from COVID-19. it is located in northern saskatchewan, 620 kilometres north of saskatoon. The Cigar Lake mine is operated by Cameco in joint venture with Orano, Idemitsu Canada Resources Ltd., and TEPCO Resources Inc. Location: Northern Saskatchewan Licensee: Cameco Corporation Status: Operating Licence issued: November 1, 2013 Licence expires: October 31, 2023 Start of commercial operation: 1999 Cameco discovered the McArthur River ore body in 1988. The ore is ground, thickened and blended into a slurry which is then shipped 69 km south to the McClean Lake mill for processing and production of calcined uranium ore concentrate. They should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved. The McArthur River project is comprised of one mineral lease, ML 5516, covering 1,380 hectares, and a further 23 mineral claims totaling 84,508 hectares. This project is located in the Athabasca Basin in Saskatchewan and lies between 6 and 30 km west of the producing McArthur River mine (225.5 million pounds U3O8 grading 13.5% U3O8 per tonne produced from 2000 to 2012). The Company's management and the Board include individuals with decades of combined experience in the uranium and nuclear energy sectors, including specific expertise in mine finance, project identification and evaluation, mine development and uranium sales and trading. The ore is ground, thickened and blended into a slurry which is then shipped 80 km south to the Key Lake mill for processing and production of calcined uranium ore concentrate. The project is currently owned by a joint venture between Cameco (69.805%) and Orano (30.195%). The Cigar Lake joint venture partners are currently Cameco (50.025 per cent), Orano Canada Inc. (37.1 per cent), Idemitsu Canada Resources Ltd. (7.875 per cent) and TEPCO Resources Inc. (5 per cent). The following map outlines the location of each of the projects underlying the royalties to be acquired under the Agreement: www.UraniumRoyalty.com. In addition, such publicly available information may relate to a larger property area than that covered by the company's interests. McArthur River The McArthur River Mine is a fully developed underground mine operation located in Northern Saskatchewan, Canada approximately 620 km north of Saskatoon. Innovation. The McArthur River Mine is a fully developed underground mine operation located in Northern Saskatchewan, Canada approximately 620 km north of Saskatoon . Mineralization occurs between 500 to 640 metres below surface with a strike length of approximately 1,800 metres. Although discovered in the 1950s, when it was originally called the HYC or "Here's Your Chance" deposit, it only opened as a mine in 1995. All rights reserved. (Source: Cameco) After the closure of McArthur River, this was the only majority-owned producing mine of Cameco. The cash portion of the purchase price will be financed through cash and securities on hand. Reserve Minerals is a subsidiary of U.S.-based Reserve Industries Corp., a family business, owned and operated by the Melfi family of New Mexico since 1957. McArthur River Mine Modified Open Cut Project Public Environmental Report Section 4 McArthur River Diversion 4-6 this covers 10,000 km2. Mcarthur River Uranium Mine Mcarthur river is the world's largest high-grade uranium deposit. Included in the royalty is the option to take physical uranium in kind by giving a 45-day notice; Cigar Lake/Waterbury project: 20-per-cent net profits interest (NPI) on a 3.75-per-cent share of overall uranium production, derived from Orano's ownership interest (37.1 per cent). Uranium Royalty Corp. has entered into a definitive agreement to acquire existing royalty interests on the McArthur River and Cigar Lake mines in Saskatchewan, Canada. The McArthur River deposit was discovered in 1988 and went into production in 1999. Uranium Royalty Corp. is a pure-play uranium royalty company focused on gaining exposure to uranium prices by making strategic investments in uranium interests, including royalties, streams, debt and equity investments in uranium companies, as well as through holdings of physical uranium. This accretive acquisition capitalizes on our first mover advantage to become a royalty holder on two of the most significant mines in the sector. Pursuant to the agreement, the company has agreed to acquire the royalties from Reserve Industries Corp. and Reserve Minerals Inc. for a total purchase price of $11.5-million (U.S.) (approximately, $14.6-million (Canadian)). McArthur River - 1% GOR on an approximate 9% share of overall uranium production, drawn from Orano's 30.195% ownership interest. According to Cameco, the restart of the mine is a commercial decision that will be based on Cameco's ability to commit production from the operation under acceptable long-term contracts. In addition, such publicly available information may relate to a larger property area than that covered by the Company's interests. 1 UxC Q4 2020 Market Outlook – Base case 2021 demand projection, 2 Uranium 2020: Resources Production and Demand – IAEA and NEA Joint Report. The Helikian Athabsaca group unconformably overlies the Wollaston Domain, archean age (2.2 Billion year old) metamorphic rocks. McArthur River Mine is one of the world’s largest providers of zinc in bulk concentrate form. As a profit based interest, this royalty will begin to generate revenue after cumulative expense accounts, including development costs, are exhausted. The Cigar Lake deposit is a high-grade, unconformity-related uranium deposit with an average stated grade of 15.92% U3O8 for the above-estimated reserves. It is operated by McArthur River Mining (MRM), a subsidiary of the Swiss mining company Glencore. Canada's
The company generally relies on publicly available information regarding these properties and related operations and generally has no ability to independently verify such information. Included in the royalty is the option to take physical uranium "in kind" by giving a 45-day notice. in Geology from the University of Saskatchewan, is a qualified person as defined in National Instrument 43-101 and is registered as a professional geoscientist in Saskatchewan. As a profit-based interest, this royalty will begin to generate revenue after cumulative expense accounts, including development costs, are exhausted. The McArthur River project comprises one mineral lease, ML 5516, covering 1,380 hectares, and a further 23 mineral claims totalling 84,508 hectares.