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Uranium Royalty Corp. Acquires Additional Royalty on the Churchrock Uranium Project, New Mexico, USA
Uranium Royalty Corp. Acquires Additional Royalty on the Churchrock Uranium Project, New Mexico, ...
About this update from Uranium Royalty Corp
[{"type":"text","content":"\n\n\n\n Uranium Royalty Corp. Acquires Additional Royalty on the Churchrock Uranium Project, New Mexico, USA\n \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 Canada NewsWire\n \n\n\n\n\n\n VANCOUVER, BC\n \n\n ,\n \n\n July 29, 2024\n \n\n /CNW/ -\n \n Uranium Royalty Corp. (NASDAQ: UROY, TSX: URC)\n \n (\"\n \n URC\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that it has entered into a binding royalty purchase agreement to acquire an additional royalty on a portion of the Churchrock uranium project (\"\n \n Churchrock Project\n \n \" or the \"\n \n Project\n \n \") owned indirectly by Laramide Resources Ltd. (\"\n \n Laramide\n \n \") in\n \n New Mexico, USA\n \n . The Churchrock Project is an advanced stage, ISR uranium project located in the Grants Mineral Belt of\n \n New Mexico, USA\n \n , 12 miles northeast of\n \n Gallup\n \n , New Mexico. Laramide has disclosed that the Churchrock Project and nearby properties represent one of the largest and highest-grade undeveloped ISR uranium projects in\n \n the United States\n \n .\n \n\n\n Transaction Highlights:\n \n\n\n\n The royalty is structured as a Gross Overriding Royalty of 6% \"Mine Price\", which anticipates recovery of reasonable and actual costs to transport the mineral to the final point of sale. The royalty covers the 10 patented mining claims in Section 8 property (640 acres) that comprise New Mexico Mineral Survey 2220 on the Churchrock Project.\n \n\n\n\n Total consideration payable by the Company under the transaction is\n \n US$3.5 million\n \n , which will be satisfied by the Company on closing by paying\n \n US$1.75 million\n \n in cash to each of the vendors, each of whom owns an undivided one-half interest in the royalty. The purchase price for the royalty will be funded from cash and liquid assets on hand.\n \n\n\n\n The recently released technical report on the Churchrock Project (the \"\n \n Churchrock Technical Report\n \n \") highlights a total Inferred Mineral Resource of 50.8 million pounds (\"\n \n Mlbs\n \n \") U\n \n 3\n \n O\n \n 8\n \n for the Project, in...