CanAlaska Uranium has symbol CVV on the TSX Venture Exchange.
In May 2016, CanAlaska announced a separate deal on another of its properties with another big name in mining. That agreement is with De Beers Canada to explore for diamonds in Saskatchewan’s northwestern Athabasca basin.
Exploration in the area is focused on uranium, and until now has not been thought of as suitable for diamond mining. But after examining a high-resolution, airborne geophysical survey carried out by the Saskatchewan Geological Survey in 2011, De Beers thinks that a series of magnetic anomalies could indicate the presence of 75 kimberlite targets—a solidified magma that flows to the surface from deep within the earth’s mantle, lifting diamonds from far below the surface.
Until January 2016, CanAlaska Uranium had another joint venture agreement with Mitsubishi Corp. in place for its West McArthur project in the Athabasca basin. Under the terms of that deal, the Japanese company would receive 50% interest in the property for its investment of $14.4 million in exploration spending. However, Mitsubishi pulled out by selling its interest to CanAlaska in exchange for $600,000 and a 1% royalty arrangement.
In February 2016, Canadian major Cameco chose to option the property, which sits 15 kilometres west of its 70% owned McArthur River uranium mine.
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CanAlaska has now partnered with mining giant Cameco for uranium exploration in Saskatchewan’s Athabasca basin. Another joint-venture deal, with De Beers, adds more risk for the company.
CANALASKA URANIUM (symbol CVV on the TSX Venture Exchange; www.canalaska.com) explores for uranium—and now diamonds—in Saskatchewan’s… Read More
A: CanAlaska Uranium, $0.98, symbol CVV on the TSX Venture Exchange (Shares outstanding: 26.7 million; Market cap: $29.3 million; www.canalaska.com), explores for uranium—and now diamonds—in Saskatchewan’s Athabasca Basin region.
The stock has moved up this year as the company took on a.. Read More
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CanAlaska Uranium Ltd., symbol CVV on Toronto, has agreed to sell up to 3,150,000 units for $0.69 each. Each unit consists of one common share and one half of a warrant. One whole warrant will let the holder buy an additional common share for $0.83.
CanAlaska… Read More
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