Canada’s largest uranium producer Cameco has signed an agreement with explorer ALX Uranium to acquire 27 mineral claims within the Patterson Lake South (PLS) uranium camp, located in the south-western Athabasca Basin, in Sasktchewan.
Under terms of the deal, Cameco will pay ALX C$170 000 in cash. ALX will retain a net refining returns (NRR) royalty on certain of the claims, subject to Cameco buying out 0.25% at any time for C$750 000, and a 2% NRR subject to a reduction of 1% at any time for C$500 000.
