Uranium Resources Expands Agreement with Cameco; Shares Steady Late

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Uranium Resources, Inc. ( URRE ) announced the expansion and extension of its South Texas exploration agreement with Cameco Texas, Inc., a subsidiary of Power Resources, Inc., which is a subsidiary of Cameco Corporation ( CCJ ).

Additionally, the company signed an amendment to its uranium mining lease option in Kenedy County, Texas for the Tecolote tract, approximately 22,700 net acres that will be a part of the exploration program.

Under the terms of the amended exploration agreement, both parties have agreed to extend the exploration agreement to a five-phase, five-year exploration program to include Tecolote. Cameco has committed $4.3 million to increase its interest to 70% in the expanded program.

Cameco will fund and be the exploration operator for Phase III.

URRE shares are unchanged after hours at $0.39.

CCJ shares are flat late at $19.93.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: CCJ , URRE

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