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Canadian firm eyes multimillion funding to advance uranium project in Guyana
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Kaieteur News
Canadian firm eyes multimillion funding to advance uranium project in Guyana…eyes EPA approval this month(Kaieteur News) – Canada-based U92 Energy Corp. is set to raise up to C$7 million in public offerings and C$1.5 million in non-brokered private placement, to advance its Kurupung Uranium Project located in Region Seven (Cuyuni-Mazaruni), as the company anticipates the Environmental Protection Agency (EPA) will approve its drill programme this month.
The Toronto-based uranium explorer listed on the TSX Venture Exchange announced on 7th August that it had filed its final short form prospectus in connection with the public offering announced last month.
The Kurupung Uranium Project spans approximately 92.2 square kilometres and carries a historical resource estimate of 20.6 million pounds of uranium.
The diamond drill rig assigned to U92 is already in Guyana to commence phase one drilling on high-priority targets at the project.
Moreover, there have been concerns over the proposed uranium project from civil society and politicians.