Japanese Consortium’s stake in Uranium One
Thursday, February 19, 2009 at 5:47PM
Uranium Stocks in Uranium Mining Stocks
The Tokyo Electric Power Company logo
The Tokyo Electric Power Company logo

A Japanese industrial and financial consortium formed by The Tokyo Electric Power Company, Incorporated, Toshiba Corporation, and The Japan Bank for International Cooperation are providing for the private placement of an aggregate of 117,000,000 common shares of Uranium One, for gross proceeds of approximately C$270 million for a 20% stake in Uranium One.

BNN interviewed Jean Nortier, president and CEO, Uranium One, to find out what this means for the miner, which has been beaten down badly in the past year. Click here to watch the clip.

Part of this deal has 20% of future production allocated to the new partner however the price for that supply was not stated which we found difficult to grasp.

Longer term Jean Nortier is bullish on Uranium prices however he did not expect to see much improvement in the near term price.

To read the recent press release in full please click here.

Uranium One Incorporated trades on the Toronto Stock Exchange under the symbol of UUU, has a market capitalization of $920.25 million with 469.52 million shares outstanding and closed in Toronto at a $1.96.

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Article originally appeared on Uranium Stocks (http://www.uranium-stocks.net/).
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