Antinuclear

European company sell off its uranium asset to Australian company (unprofitable?)

European Uranium to sell Slovakia uranium projects to Forte Energy Proactive Investors,  by Deborah Bacal 4 April 14 European Uranium Resources (CVE:EUU) said it has agreed to sell its Kuriskova and Novoveska Huta uranium projects in Slovakia to Australia’s Forte Energy NL (ASX:FTE) (LON:FTE) for approximately $8.5 million plus a production royalty. The deal represents the sale of the company’s only remaining mineral projects.  It told investors in a statement Friday that it now plans to investigate mineral projects to option or acquire in “multiple commodities” in Europe, with the deal today giving the company the initial funding to implement its business strategy.

The binding heads of agreement with Forte, a dual-listed exploration and development company with a portfolio of uranium assets in the Republics of Mauritania and Guinea, is subject to regulatory and shareholder approvals of both companies…..

….French nuclear energy giant Areva currently holds a 4.5% stake in Forte. http://www.proactiveinvestors.com/companies/news/53229/european-uranium-to-sell-slovakia-uranium-projects-to-forte-energy-53229.html

April 5, 2014 - Posted by Christina Macpherson | AUSTRALIA - NATIONAL, business, uranium