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From: The Barracuda™4/1/2019 11:10:20 AM
   of 18504
 
Uranium SWU continuing to rise


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From: The Barracuda™4/2/2019 9:49:32 AM
   of 18504
 
NXE corp development travis McPherson interview


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From: The Barracuda™4/2/2019 10:46:50 AM
   of 18504
 
Perhaps spot uranium is now going to follow SWU ?


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To: The Barracuda™ who wrote (18140)4/2/2019 10:48:19 AM
From: The Barracuda™
   of 18504
 
Maybe I didn't make a mistake?


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To: The Barracuda™ who wrote (18142)4/2/2019 12:56:15 PM
From: jazzlover2
   of 18504
 
Will China be interested in Canadian uranium in light of recent political tension? I'm not counting on it.

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To: jazzlover2 who wrote (18147)4/2/2019 1:04:28 PM
From: The Barracuda™
   of 18504
 
Uranium is fungible. Canadian uranium will find its way to China one way or another.

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To: The Barracuda™ who wrote (18145)4/2/2019 1:05:07 PM
From: The Barracuda™
   of 18504
 
Bid increasing


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To: The Barracuda™ who wrote (18148)4/3/2019 8:32:57 AM
From: smh
   of 18504
 
Just like the other yellow.

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From: LoneClone4/4/2019 8:57:48 PM
   of 18504
 
Global Atomic Announces Further Assay Results from DASA Project

globenewswire.com


April 03, 2019 13:12 ET | Source: Global Atomic Corporation
photo-release


Figure 1 DASA mineralized zones and underground conceptual mine workings as per the PEA

Figure 1 DASA mineralized zones and underground conceptual mine workings as per the PEA
Global Atomic Corporation

TORONTO, April 03, 2019 (GLOBE NEWSWIRE) -- Global Atomic Corporation (“Global Atomic” or the “Company”), (TSX-V: GLO, FRANKFURT: G12) is pleased to report further assay results from holes drilled in 2018 at its DASA project, Republic of Niger. An updated mineral resource estimate is now underway, and will be published in the second quarter of 2019.

Highlights:

Hole DADH389 returned 96.0 meters (“m”) grading 2,570 ppm (0.26%) U3O8 from 492.0m to 589.0m in the Tegama Hill Main Zone, including 3.5m grading 29,222 ppm (2.92%) U3O8 from 546.5m to 550.0m

Hole ASDH552 returned 37.5m grading 7,131 ppm (0.71%) U3O8 from 244.0m to 281.5m in the Flank Zone

Hole ASDH563 returned 22.52% U3O8 over 3.5m hole ASDH563, from 235.5m to 239.0m in the Flank Zone Stephen G. Roman, President and CEO, commented, “DASA drill results continue to define an extraordinary sandstone hosted, Tier 1, uranium deposit. The consistency of the structure, high grades and thickness, make it amenable to large scale mining with low operating costs. DASA is the first major uranium discovery in Niger that is mineralized in three horizons, the Carboniferous, Triassic, and Jurassic.”

DASA Drilling Update:

In 2018, Global Atomic drilled 59 holes in a combination of diamond (DD), rotary destructive (RD) and rotary destructive with diamond tails (RD + DD). The drilling targeted mineralization in the Flank Zone and also extensions of mineralization to the northeast, southwest, and at depth, for a total of 26,450m.

Four holes were previously reported ( see Press Release, January 23, 2019) and the results from 10 of the final 34 holes are reported as ‘Highlighted Intersections’ in Table 1. One diamond hole, ASDH126B is being used for metallurgical test work. ASDH126B was drilled vertically through the Flank Zone. The probe assay result for ASDH126B were reported in May, 2018 and returned 204.1m grading 8,063ppm (0.81%) eU3O8 from 58.5m to 262.6m. The DASA deposit remains open along strike both to the northeast and to the southwest.

Table 1. Highlighted intersections from DASA

ZoneHole IDSectionHorizonFrom
(m)
To (m)Length
(m)
U3O8
ppm
U3O8
%
Flank ZoneASDH5521950NW1244281.537.57,1310.71


Incl.250253.53.523,6682.37
ASDH5652000NW194.5983.56590.07


2101.5149.5481,6950.17


Incl.147148152,4745.25
ASDH5671950NW2110152.542.51,9250.19


Incl.115.2142.527.32,4050.24
Tegama ZoneASDH5772550NW5545577325,6800.57


Incl.5535631017,2371.72


Incl.554557.5351,8855.19
DADH3882600NW3495.551822.51,7210.17


Incl.502513.511.52,9550.3


Incl.512512.50.542,8054.28


4521.5557.5361,0750.11


Incl.537538.51.55,2400.52
DADH3892700NW2518.5588.5702,9650.3


Incl.542.55507.518,0951.81


Incl.543.5544.5125,4122.54


Incl.547.5549.5244,1324.41


Incl.58558836,0340.6

ASDH5692100NW3495.5537.5422,5500.25


Incl.512.55174.516,6011.66
ASDH5742050NW4490.5570.5801,7470.17


Incl.491.5501.5103,5560.36


Incl.511517.56.54,8890.49


Incl.513515.52.58,0630.81
Tegama South ZoneASDH5422350NW2344.535914.51,8280.18


incl.353358.55.52,8140.28
ASDH5482450NW2118145271,2440.12


Incl.12012882,2490.22


Incl.123.5124.513,6850.37


All drill holes were tested with a downhole radiometric gamma probe during 2018, and 38 were sent for chemical assay at ALS Global, Vancouver. The ALS Global laboratory has an upper assay limit of 17.62% U3O8. Ultra high grade samples, that exceeded ALS Global upper limits, were sent to the SGS Lakefield laboratory in Ontario and are reported in percentage U3O8, not parts per million. Two ultra high grade intervals were returned, as shown in Table 2 below.

Table 2. Ultra high grade results

ZoneHole IDSectionHorizonFrom (m)
To (m)
Length (m)
U3O8 %
Flank ZoneASDH5431950NW1234.0
234.5
0.5
21.36%
ASDH5631950NW1235.5
239.0
3.5
22.52%


CSA Global are in the process of updating the Mineral Resource Estimate (MRE) including recent results and then finalizing a new mine plan in a Feasibility Study to be released in Q4. The Feasibility Study will be based on commencing mining operations with shipments to Orano Mining under the MOU signed July 17, 2018.

QP Statement

George A. Flach, Vice President of Exploration, P.Geo. is the Qualified Person (QP) as defined in NI 43-101 and has prepared, supervised the preparation of, and approved the scientific technical disclosure in this news release.

About Global Atomic

Global Atomic Corporation is a TSX Venture listed company providing a unique combination of high grade uranium development and cash flowing zinc concentrate production.

The Company’s Uranium Division includes six exploration permits in the Republic of Niger covering an area of approximately 750 km2. Uranium mineralization has been identified on each of the permits, with the most significant discovery being the DASA deposit situated on the Adrar Emoles III concession, discovered in 2010 by Global Atomic geologists through grassroots field exploration.

Global Atomics’ Base Metals Division holds a 49% interest in Befesa Silvermet Turkey, S.L. (“BST”) joint venture, which operates a processing facility, located in Iskenderun, Turkey, that converts Electric Arc Furnace Dust (“EAFD”) into a high-grade zinc oxide concentrate which is sold to zinc smelters around the world. The Company’s joint venture partner, Befesa Zinc S.A.U. (“Befesa”, listed on the Frankfurt exchange under ‘BFSA’), holds a 51% interest in and is the operator of the BST joint venture. Befesa is a market leader in EAFD recycling, capturing approximately 50% of the European EAFD market with facilities located throughout Europe and Korea.

BST is well underway with an expansion project to significantly modernize and expand its processing plant in Turkey. The expansion is targeted to double annual production of zinc from 30 million lbs to 60 million lbs and is supported by EAFD supply currently available for processing in Turkey. The new plant is scheduled for completion by September 2019.

Key contacts:


















Stephen G. Roman







Merlin Marr-Johnson
Chairman, President & CEO







Executive VP
Tel: +1 (416) 368-3949







Tel: +44 7803 712 280
Email: sgr@globalatomiccorp.com







Email: mmj@globalatomiccorp.com
The information in this release may contain forward-looking information under applicable securities laws. Forward-looking information includes, but is not limited to, statements with respect to completion of any financings; Global Atomic’s development potential and timetable of its operating, development and exploration assets; Global Atomic’s ability to raise additional funds necessary; the future price of uranium; the estimation of mineral reserves and mineral resources; conclusions of economic evaluation; the realization of mineral reserve estimates; the timing and amount of estimated future production, development and exploration; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental and permitting risks. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", “targets”, "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". All information contained in this news release, other than statements of current and historical fact, is forward looking information. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Global Atomic to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks described in the annual information form of Global Atomic and in its public documents filed on SEDAR from time to time.

Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Although management of Global Atomic has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Global Atomic does not undertake to update any forward-looking statements, except in accordance with applicable securities laws. Readers should also review the risks and uncertainties sections of Global Atomic’s annual and interim MD&As.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

?A figure accompanying this announcement is available at globenewswire.com





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To: LoneClone who wrote (18151)4/4/2019 9:11:05 PM
From: LoneClone
   of 18504
 
Uranium Participation Corporation Reports Financial Results for the Year Ended February 28, 2019

ca.finance.yahoo.com

CNW GroupApril 4, 2019

TSX Trading symbol: U

TORONTO, April 4, 2019 /CNW/ - Uranium Participation Corporation ("UPC" or the "Corporation") today filed its Financial Statements and Management's Discussion & Analysis ("MD&A") for the year ended February 28, 2019. Both documents can be found on the Company's website ( www.uraniumparticipation.com) or on SEDAR ( www.sedar.com). The highlights provided below are derived from these documents and should be read in conjunction with them. All amounts are in Canadian dollars, unless otherwise noted. View PDF version

Selected financial information:








February 28,
2019


February 28,
2018

Net asset value (in thousands)

$

655,778

$

463,329

Net asset value per common share

$

4.75

$

3.50

U3O8 spot price(1) (US$)

$

28.00

$

21.25

UF6 spot price(1) (US$)

$

87.00

$

62.00

Foreign exchange rate (US$ to CAD$)


1.3169


1.2809


(1) Spot prices as published by Ux Consulting Company, LLC ("UxC").

Overall Performance

The net gain for the year ended February 28, 2019 was mainly driven by unrealized net gains on investments in uranium of $174,201,000 and income from uranium relocation agreements of $541,000, offset by operating expenses of $4,090,000 (2018 – net loss due to unrealized net losses on investments in uranium of $29,368,000, realized losses on the sale of conversion components of $4,079,000, and operating expenses of $4,038,000, slightly offset by income from uranium relocation agreements of $224,000).

Unrealized net gains on investments in uranium during the year ended February 28, 2019 were mainly due to the increase in the spot price for uranium. The spot prices during the fiscal year increased from US$21.25 per pound U3O8 and US$62.00 per KgU as UF6 at February 28, 2018, to US$28.00 per pound U3O8 and US$87.00 per KgU as UF6 at February 28, 2019. The unrealized net gain on investments in uranium was also positively impacted by a 3% increase in the U.S. dollar to Canadian dollar exchange rate during fiscal 2019. Unrealized net losses on investments in uranium during the year ended February 28, 2018 were mainly due to the decrease in spot prices from US$22.25 per pound U3O8 and US$64.00 per KgU as UF6 at February 28, 2017, to US$21.25 per pound U3O8 and US$62.00 per KgU as UF6 at February 28, 2018. The unrealized net loss on investments in uranium was also negatively impacted by a 3% decrease in the U.S. dollar to Canadian dollar exchange rate during fiscal 2018.

During the fourth quarter of fiscal 2019, the Corporation recorded an unrealized net loss on investments in uranium of $30,577,000 and a net loss for the period of $32,171,000. The unrealized net loss on investments in uranium was predominantly driven by the decrease in the spot price of uranium from US$29.10 per pound U3O8 and US$89.25 per KgU as UF6 at November 30, 2018, to US$28.00 and US$87.00, respectively at February 28, 2019. The unrealized net loss on investments in uranium was also negatively impacted by a 1% decrease in the U.S. dollar to Canadian dollar foreign exchange rate in the period. During the fourth quarter of fiscal 2018, the Corporation recorded an unrealized net loss on investments in uranium of $10,703,000 and a net loss for the period of $16,284,000, predominantly driven by the decrease in the spot price of uranium from US$22.00 per pound U3O8 and US$62.00 per KgU as UF6 at November 30, 2017, to US$21.25 and US$62.00 respectively at February 28, 2018, as well as the 1% decrease in the U.S. dollar to Canadian dollar foreign exchange rate in the period. During the fourth quarter of fiscal 2018, the Corporation also recognized a realized loss on the sale of conversion components of $4,079,000.

Total equity increased to $655,778,000 at February 28, 2019, from $463,329,000 at February 28, 2018. The increase in equity was due to the net proceeds of the Company's $23,009,200 equity financing, which resulted in the issuance of 5,612,000 common shares, as well as the net gain for the year.

The Corporation had an effective tax rate of nil for the years ended February 28, 2019 and February 28, 2018, primarily due to the Corporation's available tax shelter giving rise to a net deductible temporary difference – for which the Corporation does not recognize deferred tax assets.

Taken together, UPC's NAV per share increased to $4.75 at February 28, 2019, from $3.50 at February 28, 2018.

Current Market Conditions

Aftershocks echoing throughout the nuclear fuel industry from the 2011 Fukushima Daichii nuclear incident, which led to the multi-year shutdown of all nuclear power generation in Japan, have produced several years of challenging market conditions. In fiscal 2019, however, several significant industry events have helped set the stage for sustained positive change in future years. Stability and a rising uranium price is a welcome change for the nuclear fuel industry, which has been plagued by volatility and a sustained multi-year decline in both the spot price and long-term contract price of uranium. During fiscal 2019, the uranium price declined from approximately US$21.25 per pound U3O8 (at the beginning of the year) to an intra-year low of US$20.50 per pound U3O8 in April 2018, before strengthening and climbing steadily through the balance of the fiscal year to end the 2019 fiscal year at US$28.00 per pound U3O8.

The recent strength in the market has been supported, in part, by a number of events on the supply side. Most significant of these events was Cameco Corp's ('Cameco') announcement that the temporary shutdown of the McArthur River mine would become indefinite, with the timing of a restart dependent on future contracting and market conditions. Tied to this statement was Cameco's confirmation of its continued commitment to meeting existing customer obligations by purchasing large volumes of uranium in the spot market. National Atomic Company Kazatomprom ('Kazatomprom') added to this supply-side shift by keeping its promise to curtail its own production, resulting in a 20% reduction from previously planned production levels. Kazatomprom also indicated that they will maintain this reduced level of production in calendar years 2019 and 2020. Other curtailment efforts have also occurred – including Paladin Energy Ltd. placing its Langer Heinrich operation in Namibia on care and maintenance. The primary production landscape changed further with the decision by Rio Tinto to sell its 68.2% share in the Rössing operation in Namibia to China National Uranium Corporation. This sale does not create a fundamental change to supply and demand in the near term, but it does likely mean that Rössing production, which had been a staple of western utilities for decades, will now likely be destined for Chinese consumption going forward.

According to the World Nuclear Association ('WNA'), as at the end of the 2019 fiscal year, there are 445 nuclear reactors operable in 30 countries. These reactors can generate almost 396 gigawatts of electricity ('GWe'), which equates to approximately 10% of the world's electrical requirements and 21% of electrical requirements in Organisation for Economic Co-operation and Development ('OECD') member countries. As at February 28, 2019, are also 57 nuclear reactors under construction in 15 countries, with the principal drivers of this expansion being China (13 reactors under construction), India (7), Russia (6), South Korea (5), UAE (4) and the United States (4). In addition, there are another 126 reactors currently being planned around the world. Importantly, in February 2019, the Chinese government announced, after a brief hiatus in the approval of new reactor projects in that country, the preliminary approval for the construction of four new domestically designed HPR1000 reactors.

According to UxC's Q1 2019 Uranium Market Outlook ('Q1 2019 Outlook'), global nuclear power capacities are projected to increase to 462 reactors, generating approximately 453 GWe in 35 countries by 2035. In the Q1 2019 Outlook, UxC estimates base case demand in 2019 to be 195 million pounds U3O8. UxC also estimates that annual uranium demand could grow to 210 million pounds U3O8 under their base case for 2035, and to more than 290 million pounds U3O8 in their high case for the same period.

The Japan story remains a slow moving one, but generally positive. Japan's restart effort continues to advance, with the country finally beginning to make meaningful progress in bringing its nuclear fleet back online. In fiscal 2019, Japan increased its total number of nuclear reactors in operation to nine, proving that there is a path to restart in the country. Perhaps more important was the fact that while Japan has struggled with timely restarts over the past eight years, the global nuclear energy industry has continued to advance and has now grown such that the current level of global nuclear power generation has recovered to the pre-Fukushima levels. From this point forward, additional Japanese restarts can be seen as an added bonus to global nuclear generation.

The steady price rise in fiscal 2019 can also be attributed to the high volume of uranium transacted in the spot market. In calendar year 2018, spot market volumes set a record – exceeding 88 million pounds U3O8 and surpassing the previously recorded high of 56 million pounds U3O8 in 2011. While certain nuclear utilities looked to take advantage of low-priced uranium available in the market, the increase in transaction volume was mostly fueled by producer and trader buying resulting from production cutbacks, as well as renewed interest from financial investors speculating in the physical market. While spot market volumes exceeded expectations, long-term contracting in the market continued to lag. Market participants have entered into long term contracts for less than 400 million pounds of U3O8 over the past five years – a period in which consumption exceeded 800 million pounds U3O8.

While uncertainty surrounding Fukushima has started to fade and signposts suggesting that buyers are planning to begin long-term contracting have emerged, a Section 232 trade petition in the United States has brought renewed uncertainty to the market over the last several months. The petition was submitted to the US Department of Commerce ('DOC') at the end of fiscal 2018 by US uranium producers Energy Fuels Inc. and UR Energy Inc., requesting that the DOC investigate whether uranium imports into the United States are detrimental to that country's national security. Uncertainty from the Section 232 trade petition has gradually increased as we approach the conclusion of the DOC investigation. The companies who introduced the trade petition proposed a 25% domestic purchase quota for US utilities as a potential remedy; however, the DOC has the discretion to propose any remedy that it may consider appropriate, ahead of a final decision by the US President as to the implementation of any trade measure. It is expected that the findings of the DOC, as well as an ultimate decision by the US President on whether a remedy will be imposed and what it will look like, could be announced as early as the second calendar quarter of 2019. The overhang created by this potential trade action has had a direct impact on utility procurement, especially those based in the US – causing them to retreat from the market until the impact of the petition is better understood. This slowed purchasing led UxC to revise its projections in its Q1 2019 Outlook, such that cumulative uncovered nuclear utility requirements are now 1.6 billion pounds of U3O8 through 2035.

Other important demand-side events in fiscal 2019 have contributed to shifting market sentiment including positive news from some of the world's leading economies. In November, France released its anticipated energy plan, answering questions that had emerged regarding potential plans by the country to reduce its reliance on nuclear energy. Under the new energy plan, France upheld its goal, introduced by previous French President Hollande, to reduce its reliance on nuclear energy to 50%, but extended the time frame for this change by a decade, from 2025 to 2035. This was seen as a considerable win for nuclear energy both in France, and globally. Closely following the news from France, was an announcement by the European Commission that it will adopt a long-term climate plan that calls for the European Union to become the first major 'climate neutral' economy by 2050. The plan focuses heavily on the energy sector, stating that renewables and nuclear power will be the backbone of a carbon-free European power system. As well, China continued building on its existing reactor portfolio by starting seven new reactors in fiscal 2019. Adding to this accomplishment, China became the first to commercially operate two new reactor designs – Westinghouse Electric Company's AP1000 and France's EPR. Completion of these new designs was a positive signal to the industry that the designs work and will aid deployment of these reactor designs in other jurisdictions.

Subsequent Event

Effective April 1, 2019, the Corporation entered into a new management services agreement with the Manager (the 'MSA'). The management fee structure in the 2019 MSA is unchanged from the 2016 MSA, with the Manager being entitled to the following: a) a base fee of $400,000 per annum, payable in equal quarterly installments; b) a variable fee equal to (i) 0.3% per annum of the Corporation's total assets in excess of $100,000,000 and up to and including $500,000,000, and (ii) 0.2% per annum of the Corporation's total assets in excess of $500,000,000; c) a fee, at the discretion of the Board, for on-going monitoring or work associated with a transaction or arrangement (other than a financing, or the acquisition of or sale of U3O8 or UF6); and d) a commission of 1.0% of the gross value of any purchases or sales of U3O8 or UF6, or gross interest fees payable to the Corporation in connection with any uranium loan arrangements.

The term of the 2019 MSA is for five years, ending on March 31, 2024. In addition, the 2019 MSA includes a termination provision whereby, subject to certain exceptions, if the 2019 MSA is terminated early by the Corporation, the Manager will receive a termination payment equal to the base and variable management fees that would otherwise be payable to the Manager (calculated based on the Corporation's current uranium holdings at the time of termination) for the lesser period of a) three years; or b) the remaining term of the 2019 MSA.

The remainder of the terms of the 2019 MSA are the same as the 2016 MSA.

Outstanding Share Data

At April 4, 2019, there were 138,060,713 common shares issued and outstanding. There are no stock options or other equity instruments issued and outstanding.

About Uranium Participation Corporation

Uranium Participation Corporation is a company that invests substantially all of its assets in uranium oxide in concentrates ("U3O8") and uranium hexafluoride ("UF6") (collectively "uranium"), with the primary investment objective of achieving appreciation in the value of its uranium holdings through increases in the uranium price. Additional information about Uranium Participation Corporation is available on SEDAR at www.sedar.com and on Uranium Participation Corporation's website at www.uraniumparticipation.com.

Cautionary Statement Regarding Forward-Looking Statements

Certain information contained in this press release constitutes forward looking statements or forward looking information. These statements can be identified by the use of forward looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "plan", "should", "believe" or "continue" or the negative thereof or variations thereon or similar terminology. In particular, this press release contains forward-looking information pertaining to the value of the Corporation's investments and expectations regarding uranium spot prices and uranium market factors, including expectations regarding uranium production levels, reactor restarts, levels of uncommitted utility reactor requirements, anticipated market supply and demand, the development of new nuclear power projects, the potential impact of international trade actions, and other statements regarding the outlook for the uranium industry and market.

By their very nature, forward looking statements involve numerous factors, assumptions and estimates. A variety of factors, many of which are beyond the control of UPC, may cause actual results to differ materially from the expectations expressed in the forward looking statements. For a list of the principal risks of an investment in UPC, please refer to the "RISK FACTORS" section in the Corporation's MD&A dated April 4, 2019 available under UPC's profile at www.sedar.com. These and other factors should be considered carefully, and readers are cautioned not to place undue reliance on these forward looking statements. Although management reviews the reasonableness of its assumptions and estimates, unusual and unanticipated events may occur which render them inaccurate. Under such circumstances, future performance may differ materially from those expressed or implied by the forward looking statements. Except where required under applicable securities legislation, UPC does not undertake to update any forward looking information.

SOURCE Uranium Participation Corporation


View original content: newswire.ca

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