In conjunction with the amended lease agreement, URI and Cameco have agreed to extend their amended 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 and will be the exploration operator for Phase III.URI secured $9 million in new surety bonds for the benefit of the Texas Commission on Environmental Quality for remediation and reclamation activities at the Company’s South Texas projects. The new bonds required $4.5 million in cash collateral and replaced the existing $9.0 million of fully collateralized financial surety instruments. The result is that $4.5 million will be released back to URI due to the lower cash collateral requirement.
Uranium Resources Provides Full Year 2012 Review And Outlines Near-Term Initiatives
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