Blue Sky Uranium Announces Binding Term Sheet for Ivana Uranium-Vanadium Deposit in Argentina
10.06.2024 | NewsDirect
Blue Sky Uranium CEO Niko Cacos joined Steve Darling from Proactive to share news the company has entered into a binding term sheet with Corredor Americano, an Argentine company, to complete an option agreement regarding the Company's Ivana Uranium-Vanadium Deposit.Cacos told Proactive that Corredor Americano can earn up to a 50% indirect interest in the Property by spending up to 35 million dollars advancing Ivana through to the completion of a feasibility study and drilling key exploration targets located in adjacent areas of the Property. Following a positive feasibility study, Corredor can earn an additional 1% upon its decision to fund the capital cost of the Project and further 29% interest by funding 100% of the estimated capital costs to achieve commercial production.
Cacos emphasized the strategic importance of this agreement with its recent PEA for the Amarillo Grande Project confirming the Ivana deposit as a potential candidate for low-cost uranium production. The proposed transaction provides compelling benefits for Blue Sky and its shareholders by setting a clear path to bring Ivana to production in partnership with one of the most capable groups in Argentina.
The collaboration with Corredor Americano is expected to accelerate the development of the Ivana deposit, leveraging Corredor's expertise and financial strength. This partnership aims to unlock the full potential of the deposit, ensuring a streamlined path towards commercial production.
The terms of the agreement reflect a structured approach to project development, with Corredor Americano taking on significant financial commitments to advance the Ivana project. This includes funding for extensive drilling programs and feasibility studies, aimed at confirming the project's viability and outlining a clear route to production.
As the project progresses, Blue Sky Uranium will provide regular updates on key milestones and developments, ensuring transparency and keeping stakeholders informed. The company remains committed to advancing its portfolio of uranium and vanadium assets, capitalizing on favorable market conditions and the growing demand for these critical minerals.
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Proactive North America
+1 604-688-8158
NA-editorial@proactiveinvestors.com
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