Snow Lake, GUE form JV to acquire Pine Ridge Uranium Project in US

A production royalty will also be paid to Stakeholder Energy depending on the U3O8 realised price. Credit: RHJPhtotos/Shutterstock. Canada’s Snow Lake Energy and Australia’s Global Uranium and Enrichment (GUE) have announced the formation of a joint venture (JV) to acquire the Pine Ridge Uranium Project in Wyoming, US, from Stakeholder Energy.

The JV, named Powder River Basin, will be owned equally by Usuran Resources, a wholly owned subsidiary of GUE, and Snow Lake Exploration (US), a wholly owned subsidiary of Snow Lake Resources.

Under the terms of the agreement, Powder River Basin will pay a total of $22.5m in cash to Stakeholder Energy in three equal instalments.

The first payment of $7.5m is due at the closing of the deal, with the second and third payments scheduled for one and two years after closing, respectively.The transaction is expected to be completed by 22 April 2025, subject to standard closing conditions and regulatory […]

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