Uranium One Inc SXRZF

RE: RE: RE: not good

[demarko]

DJ Kazakhstan Accuses Ex-Kazatomprom Executives Of Illegal Deals
ALMATY, Kazakhstan (Dow Jones)--Kazakhstan"s national security committee Wednesday said former senior executives of state nuclear fuel company Kazatomprom had illegally transferred stakes in uranium mines to offshore companies.
The committee said in a statement that former Kazatomprom chief executive Mukhtar Dzhakishev had established a private company, Ken Dala KZ, which later received free rights to develop part of Mynkuduk uranium mine in southern Kazakhstan.
The committee also said Kazatomprom sold 30% in Kyzylkum, developer of the Khorasan-One uranium mine, for "only" 15.6 million tenge ($104,000) to an offshore company. Canada"s Uranium One Inc. (UUU.T) has a 30% stake in Kyzylkum, and a consortium of Japanese companies and Kazatomprom own the rest.
The committee also said it has discovered illegal stake transfers in other mines.
Uranium One"s Senior Vice-president Paul Clarke, who also runs the company"s Kazakhstan operation, said he couldn"t comment on the committee"s statement.
Dzhakishev, longtime CEO of the Kazakh company, and six other executives are under investigation, the committee said. Dzhakishev was sacked from his position and arrested last week.