Valor gets bigger hook into Canadian uranium project

A uranium sample from Hook Lake, where Valor Resources now holds an 80 per cent stake. Valor Resources has secured an 80 per cent share of the highly-prospective Hook Lake uranium project in Canada, just two days after acquiring the 83-square-kilometre Frazer Lake lithium project across the country in Ontario.

The company today confirmed it had made the third and final “anniversary” payment to Skyharbour Resources to complete the Hook Lake deal. As part of a revised agreement, it was required to pay Skyharbour C$75,000 (AU$85,300) and issue it 31.75 million shares.

Hook Lake is in the Athabasca Basin in northern Saskatchewan – a region that has become widely known as being the world’s leading producer of high-grade uranium.

While the lithium price has retreated during recent times, the price of uranium has been running hard and recently surged to more than USD$100 (AU$154) per pound. The significant price lift has placed […]

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