Consolidating the Global Uranium Space One Acquisition at a Time

by Mike Fagan

Mike Fagan


International Consolidated Uranium (TSX-V: CUR)(OTC: LBHRF) — currently trading around C$1.90 per share — is acquiring 100% of the high-grade Matoush Uranium Project located in Quebec, Canada. 

Matoush is considered an advanced-stage exploration project (413 mining claims; 217 sq km) with a substantial high-grade historic resource of:

  • 586,000 tonnes Indicated at an average grade of 0.95% U3O8 containing 12.3 million lbs of U3O8
     
  • 1,686,000 tonnes Inferred at an average grade of 0.44% U3O8 containing 16.44 million lbs of U3O8

International Consolidated Uranium CEO, Philip Williams – whom you’ll be hearing more from in just a second – commented via press release: 
 

“We are very pleased to add another high-grade, advanced stage project, in a top ranked mining jurisdiction, to our global project portfolio. As with our other projects, Matoush was the subject of significant past exploration and economic evaluation work. It stands out for its high-grade and sizeable historical resource, ranking as one of the highest-grade undeveloped uranium projects outside of the Athabasca Basin in Saskatchewan as well as its promising exploration potential. We look forward to bringing a fresh perspective to development of the project with a focus on engagement with the local indigenous stakeholders before undertaking any project level activity. We recognize that uranium mining can be a lightning rod issue and, as such, it is incumbent on us to garner social acceptance before attempting to advance a project. Fortunately, uranium mining in Canada, under the strict regulation of the Canadian Nuclear Safety Commission, has an excellent track record with studies showing no significant impacts to the health of the public living near uranium mines or mills. Canada's long-standing experience in uranium mining has resulted in the development of stringent regulations and leading practices for the protection of health and safety of persons and the environment which, of course, we intend to adhere to fully.”
 

The Matoush acquisition adds to an already impressive property portfolio for International Consolidated Uranium, which includes:

  • 100%-interest in the Dieter Lake Uranium Deposit in north-central Quebec, Canada
     
  • 100%-interest from Mega Uranium Ltd. (TSX: MGA) in the Ben Lomond and Georgetown Uranium Projects in Australia
     
  • 100%-interest from IsoEnergy Ltd. (TSX-V: ISO) in the Mountain Lake Uranium Project in Nunavut, Canada
     
  • 100%-interest in the Moran Lake Uranium and Vanadium Project in Labrador, Canada
     
  • 100%-interest from U3O8 Corp. (TSX-V: UWE-H) in the Laguna Salada Uranium and Vanadium Project in Argentina 
     
  • 80%-interest in the Mount Roe Gold Project in the Pilbara region of Western Australia 
     
  • 70% earn-in with Meliadine Gold Ltd. in the Kuulu Gold Project in Nunavut, Canada

Additionally, Int’l Consolidated Uranium has announced a minimum C$7.5 million bought deal financing — scheduled to close on or about June 3, 2021 — with proceeds to be used for exploration and development of the company’s uranium properties, potential accretive acquisitions, and for working capital and general corporate purposes. 

The company is also the beneficiary of strong financial backing from Sachem Cove Partners and Segra Capital — perhaps the two best-known financial institutions in the worldwide uranium market. 

Right now, indicators are pointing to a major resurgence in the global uranium market, which makes International Consolidated Uranium — with its impressive property portfolio and sub-C$75 million market cap — absolutely one-to-watch in the junior uranium space. 

Our own Gerardo Del Real of Junior Resource Monthly sat down with International Consolidated Uranium president & CEO, Philip Williams, to discuss the latest acquisition, the new financing, and the laser-focused acquisition strategy going forward.  CLICK HERE TO LISTEN. Transcript is also available. 

Be sure to also click here to view our brand new report on International Consolidated Uranium.  

Yours in profits,

Mike Fagan

Mike Fagan
Editor, Resource Stock Digest
 

Mike Fagan has mining in his blood. As a teenager he staked countless gold and silver properties in Nevada alongside his dad, Brian Fagan, who created the Prospect Generator model that’s still widely used today in the resource space. One of those staking projects was put into production by a major Canadian mining company — a truly rare and profitable experience. That background uniquely qualifies him as a mining stock speculator. One of the most well-known names in the business, Mike is now putting that experience to use for the benefit of Resource Stock Digest and Hard Asset Digest readers.