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U3O8 Corp. Defines a Clear Path Forward for the Laguna Salada Uranium-Vanadium Deposit
U3O8 Corp. Defines a Clear Path Forward for the Laguna Salada Uranium-Vanadium Deposit ...
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[{"type":"text","content":"\n\n\n\nU3O8 Corp. Defines a Clear Path Forward for the Laguna Salada Uranium-Vanadium Deposit\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Nov. 16, 2017\n\n\n\nTORONTO, Nov. 16, 2017 /CNW/ - U3O8 Corp. (TSX: UWE), (OTCQB: UWEFF) (\"U3O8 Corp.\" or the \"Company\") is pleased to outline how the offer of a C$1 million line of credit by the Company's founder and director, Dr. Keith Barron, in addition to funds recently raised by the Company, will be used to undertake proof-of-concept work on its Laguna Salada uranium-vanadium deposit in Argentina.  The funds allow the Company to do specific test work that, if successful, is likely to significantly improve the economics of Laguna Salada by lowering operating and capital costs from those determined in the positive preliminary economic assessment (\"PEA\") undertaken in 2014.  \n\n\"I believe that there is a clear path for U3O8 Corp. to become a uranium and vanadium producer from the Laguna Salada Deposit,\" said Dr. Keith Barron.  \"To help U3O8 Corp. achieve that goal, I have pledged to support the Company with a convertible debt facility of up to C$1 million to be paid back in shares in a maximum of three years.  I cannot think of a more concrete way to demonstrate my faith in the Company: I will finance the Company at a zero-interest rate and will only be repaid in shares in the future when the share price is likely to have strengthened on the back of successful proof-of-concept test work.\"  \n\n\"The monies will be used to finance proof-of-concept production tests.  In addition, I have released my Manager of Operations at the Potentate Sapphire Mine in Montana – where we process gravel to recover gemstones - to U3O8 Corp. on a temporary basis. John Rae is a Mining Engineer who will draw on his extensive experience to optimize the screening and washing of gravel at Laguna Salada to ensure that its mineralization is concentrated in the most cost-effective way.  This pilot-scale test work will use standard road-building and alluvial mining equipm...