SXR Update

SXR Uranium One continues its path of consolidation. SXR announced today that it has entered agreement with US Energy Corp. and its affiliate, Crested Corp., for the purchases of Shootaring Canyon Uranium Mill, as well as uranium exploration properties in Utah, Wyoming, Arizona, and Colorado.

SXR has offered, in the purchase, 6.6+ million shares, plus $750,000 USD. Also, an additional $20 million USD once the mill reaches commercial production and $7.5 million USD once SXR makes its first uranium delivery to the mill. US Energy will also receive 5% gross procedes from the sale of commodities produced at the mill with a maximum of $12.5 million USD. The Shootaring Canyon Mill is the last conventional uranium mill built in the U.S., and is located near several known uranium deposits.

Like I have said, I expect consolidation to continue, and companies like SXR and Denison will be at the forefront. It's also important to realize that a transaction of this nature is another example of foreign based companies getting their hands on more and more of the U.S.' natural resources.

Side note: Trade Tech has made it official. The spot price of U3O8 has gone to $85 /lb. Wow.