enCore Energy Corp (TSX-Venture:EU) cheered news Tuesday of a stronger position in properties in the American southwest.
The Vancouver-based miner has formed a pact with VANE Minerals (U.S.) LLC, giving EU exclusive access to certain VANE uranium exploration data and information as well as a first right of refusal covering seven of Vane’s current uranium projects in Arizona and Utah.
In exchange for this exclusive access and rights, the Company issued three million common shares in the capital of EU and has granted VANE certain back-in rights for any projects developed from the use of the data.
CEO Dennis Stover commented thus, “With 100% of our assets and clear focus in the United States, having this key set of projects and extensive vast data set covering the highest grade uranium targets in the U.S. puts enCore in an enviable position to take advantage of any upswing in uranium prices”.
enCore shares increased half a cent, or 4.6%, to 11.5 cents late Tuesday morning, on volume of 116,000 shares