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sxr Uranium One CEO denies reports that Honeymoon Project in Australia is for sale
sxr Uranium One CEO denies reports that Honeymoon Project in Australia is for sale.
About this update from Uranium One Mining Corp.
[{"type":"text","content":"\n\n\n\n\nSEC Exemption No. 82-4831\n\nTrading Symbol: SXR - The Toronto Stock Exchange\n\nTORONTO, Jan. 12 /CNW/ - The President and CEO of sxr Uranium One Inc.,\nNeal Froneman, today clarified the company's intentions over the Honeymoon\nproject in South Australia.\nUranium One was formed last month through the reverse takeover of\nSouthern Cross Resources Inc. (SXR) of Canada by South African mining group\nAflease Gold and Uranium Resources Inc.\nAs a consequence, the Honeymoon asset, which had been held by SXR, is now\nwholly owned by Uranium One.\nSaid Mr. Froneman:\n\"There have been reports that the old SXR held talks with interested\nparties from China about the Chinese acquiring a stake in Honeymoon.\n\"The talks were not conclusive, and as far as Uranium One is concerned,\nHoneymoon is a core asset of our global company and is not up for sale.\n\"I am on record as having said that the new Board of Uranium One will be\nasked to take a decision on the project later this year, and I expect to be in\na position to make a recommendation to the board by June.\n\"I cannot prejudge that decision, but would emphasize that the strategy\nof Uranium One is to develop our assets, and a positive decision on Honeymoon\nwould be beneficial to South Australia in terms of the local economy and of\nemployment.\"\nHoneymoon is one of the very few fully permitted uranium projects in the\nworld, and would employ in-situ leach technology.\nThe project has NI 43-101 compliant indicated resources of 9.3m lbs of\nuranium oxide.\n\nForward-looking statements\nThis announcement contains certain forward-looking statements. These\nforward-looking statements are subject to a variety of risks and uncertainties\nwhich are beyond sxr Uranium One's control (including among others regulatory\nand shareholder approval and market fluctuations), which could cause actual\nevents or results to differ materially from those anticipated in such forward-\nlooking statements. In this announcement, predictions about the future\nstrategy are forward-looking statements. Readers should not place undue\nreliance on forward-looking statements.\n\nNotice To Investors\nThis announcement does not constitute an offer to sell or an invitation\nto purchase or subscribe for any securities.\n%SEDAR: 00005203E\n\n\n","length":2327,"tagName":"div"}]