Consolidated Uranium Spins Out LUR as Uranium Bull Rages On

Consolidated Uranium Inc. (TSX-V: CUR)(OTC: CURUF), currently trading around C$2.90 per share, has announced that its proposed spinout — Labrador Uranium (LUR) — has increased its uranium property holdings in Labrador, Canada, while bolstering its technical team ahead of a special meeting of shareholders scheduled for 3 February 2022. 

LUR’s current flagship is the Moran Lake Uranium Project located in the Central Mineral Belt (CMB) of Labrador, Canada. The company controls the majority of that mineral belt with a land package spanning approximately 125,000 hectares. 

LUR has identified more than 140 targets across its expansive property portfolio and is currently putting together a comprehensive exploration plan (see video) for summer 2022. 

In addition to the flagship Moran Lake property, the LUR team is focused on advancing the drill-ready Notakwanon Uranium Project, which was originally discovered by Altius Minerals. The company is working on permitting with plans to get the drills turning this summer. 

Labrador Uranium is well-funded, having raised approximately C$10 million. Led by CEO, Stephen Keith, the company has assembled a top-notch technical team with decades of combined experience in the uranium industry. With a dominant land position in the Central Mineral Belt, LUR’s focus now shifts to exploration on multiple projects. 

Pending the outcome of the special meeting of shareholders, LUR is expected to commence trading on the CSE under the symbol LUR sometime in the current quarter. 

Consolidated Uranium shareholders-of-record will gain direct exposure to this exciting new uranium venture with the receipt of LUR shares on a pro-rata basis based on the number of CUR shares held at the time of completion of the spinout transaction.

Cashed-up with approximately C$35 million in the bank — having recently closed on a C$20 million bought deal private placement — and with things heating up across the company’s growing base of uranium assets, speculators can expect steady news flow from CUR throughout 2022 as the uranium bull really gets going. 

Yours in profits,

Mike Fagan
Editor, Resource Stock Digest