Energy Fuels Inc. (TSX:EFR) signed a Letter of Intent (LOI) to acquire Strathmore Minerals Corp. Under the terms of the LOI, Strathmore shareholders would receive 1.47 common shares of Energy Fuels for each common share of Strathmore held, resulting in the shareholders of Strathmore owning approximately 21% of the issued and outstanding shares of Energy Fuels upon completion of the Transaction.
Energy Company News Directory
Mining Weekly reported that Tanzania is trying to collect $206 million in taxes from Russian miner JSC Atomredmetzoloto (ARMZ), who has been awarded the licence to build the country's first uranium mine.
Bacanora Minerals Ltd. (TSXV:BCN) and Rare Earth Minerals Plc finalized a lithium farm-in deal that grants Rare Earth Minerals certain rights to participate in the drilling and project evaluation of the El Sauz and Fleur lithium concessions in northern Mexico.
American Vanadium Corp. (TSXV:AVC,OTCQX:AVCVF) entered into a master sales agreement with Gildemeister energy solutions, where the Company will market and sell Gildemeister's vanadium redox flow batteries in North America.
Tigris Uranium Corp. (TSXV:TU) and Wolfpack Gold Corp. announced the completion of a reverse takeover transaction through which Tigris acquired all of the issued and outstanding shares of Wolfpack and Wolfpack amalgamated with a wholly-owned subsidiary of Tigris.
Li3 Energy (OTCBB: LIEG) has entered into an agreement with Blue Wolf Mongolia Holdings with an agreement and plan of merger for an initial business combination.
The Wall Street Journal's Asia MoneyBeat reported that major coal miners operating in Australia — like Glencore Xstrata plc (LSE:GLEN) and Yancoal Australia Ltd. (ASX:YAL) — are eager to auction off port assets worth "tens of millions of dollars" that were hot assets only a year and a half ago. That indicates that they are not confident that coal prices will rebound in the near future.
Alpha Minerals Inc. (TSXV:AMW,FWB:E2GA), together with JV partner Fission Uranium Corp. (TSXV:FCU), reported that a $6.95 million summer and fall drill program has been set for their Patterson Lake South property on the southwest side of Saskatchewan's Athabasca Basin.
ABC News reported that Toro Energy's Australian uranium mine may be up against a number of economic challenges.
Majescor Resources Inc. (TSXV:MJX) announced that it has completed a non-brokered private placed for gross proceeds of $100,000.