Strathmore is one of the largest holders of in-ground uranium resources in the United States. The Company’s goal is to become a leading uranium producer in the United States. Its core projects are located in the two largest historical uranium producing regions: the Grants Uranium District in New Mexico and the Gas Hills Uranium District in Wyoming.
Strathmore is advancing two core uranium development projects towards production: Roca Honda in New Mexico and the Gas Hills in Wyoming. In 2007, Roca Honda was partnered with Sumitomo Corp of Japan under the jointly owned subsidiary Roca Honda Resources LLC (“RHR”). In October 2009, RHR submitted its Roca mine permit application. A mine permit decision is expected in 2013. In February 2012, Strathmore optioned its Gas Hills uranium development project to Korea Electric Power Corp. (KEPCO). KEPCO can earn-in up to 40% of the Gas Hills by incurring expenditures of US $32 million over three years beginning in 2013. Strathmore expects to submit its Gas Hills mine permit application this year.
In February, KEPCO completed a US $8 million common share private placement at a price of C$0.55 per share. In May, Strathmore acquired Saratoga Gold Company Ltd and its “Copper King” gold-copper project in Wyoming. KEPCO is Strathmore’s largest shareholder with an 11.8% equity stake. – See more at: http://localhost:8080/portfolio/strathmore-minerals-company-snapshot#sthash.n5qKDHdh.dpuf
