Nov. 26, 2021
Consolidated Uranium Inc. (TSX-V: CUR)(OTC: CURUF) — trading firmly above C$3.00 per share in a rising uranium market — has announced the acquisition of the Milo Uranium-Copper-Gold-Rare Earth Project in Queensland, Australia.
The Milo deposit is a large breccia-style system characterized by occurrences of base and precious metals mineralization, including rare earth elements (REEs), which are very much in the news these days for their critical applications in the green-tech and defense-tech fields.
The Milo project is an excellent complement to CUR’s current base of exploration properties in Queensland — including the Ben Lomond and Maureen uranium-molybdenum projects — further bolstering the company’s position in the prolific, mining-friendly jurisdiction.
Consolidated Uranium CEO, Philip Williams — whom you’re about to hear from directly — commented via press release:
"With today’s signing of the Agreement, the Transaction will add another uranium project to the CUR portfolio with significant previous expenditures and historic mineral resources. Like many of our other projects we believe that Milo boasts strong exploration potential which we intend to pursue in short order. The project also fits well with our existing Queensland assets, namely Ben Lomond and Maureen, and will provide critical mass in an important global mining jurisdiction. We feel strongly that Milo will be a valuable project to CUR as it may be advanced as a uranium asset with additional historic mineral resources of rare earths, copper and gold. Currently the Queensland Government of Australia is highlighting rare earths as a priority for development as part of its New Economy Mineral Initiative. In October 2020 the Premier for Queensland announced a Government Initiative to develop New Economy Minerals within The North West Mineral Belt. Within this report Milo was highlighted as one of the potential development projects."
Consolidated Uranium also just announced an increase to its previously announced private placement from C$15 million to C$20 million on strong investor demand. As you’re about to discover, that capital raise will likely top out at C$25 million, which is a very significant ramp-up from an initial target of C$15 million.
Additionally, following up on Consolidated Uranium’s planned spinout of Labrador Uranium Inc. — Labrador Uranium will be adding the Mustang Lake Uranium Project to its portfolio of targets within the Central Mineral Belt of Labrador, Canada, by acquiring Mega Uranium’s 66% participation interest in the project.
The Mustang Lake project is situated along-strike to Paladin Energy’s existing Michelin deposit and aligns LUR with Mega Uranium’s exceptional team of uranium developers in the district.
Heading into what should be an exciting 2022, Consolidated Uranium remains focused on unlocking value for shareholders through potential restart programs at its past-producing US uranium mines via its strategic alliance with Energy Fuels while simultaneously initiating work programs at its uranium exploration projects in Canada, Australia, and Argentina.
Cashed-up and with things heating up across the company’s growing base of uranium assets, speculators can expect steady news flow from Consolidated Uranium over the next several quarters as the uranium bull really gets going.
Our own Gerardo Del Real of Junior Resource Monthly sat down with CEO, Philip Williams for a fascinating discussion on all-things Consolidated Uranium. Enjoy!
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Editor, Resource Stock Digest