Strateco Resources Inc SRSIF

Energy

Strateco Resources Inc. is a mining company. The Company is engaged in uranium exploration and development. The Company's Matoush project is located in the Otish Mountains of northern Quebec, approximately 275 kilometers north of Chibougamau and over 210 kilometers northeast of Mistissini. The Matoush project consists of the Matoush, Matoush Extension and Eclat properties, as well as the Pacific-Bay-Matoush property. The Matoush project comprises approximately 590 claims covering a total area of over 31,195 hectares. The Matoush property is located approximately 275 kilometers north of Chibougamau in the Otish Mountains of northern Quebec, Canada. The Eclat property is located in the Otish Mountains of northern Quebec, immediately south of the Matoush property. The Matoush Extension property is located north, west and east of the Matoush property in the Otish Mountains, in Northern Quebec. The Pacific-Bay Matoush Property is located in the Otish Mountains in northern Quebec.

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Strateco Resources Inc

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Comment by stockwhispereron Nov 28, 2010 7:46pm

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Post# 17768589

RE: RE: Quebec AND THIS COULD HELP TOO.

English Translation

Uranium: more openness to foreign capital
Posted November 27, 2010 at 18:00 | Updated November 27, 2010 at 18:00

• While the federal government PotashCorp saved from the clutches of a buyer Anglo-Australian, he plans to relax foreign investment rules in the uranium sector. And Saskatchewan, the world capital of uranium production, is on the same wavelength.
The Harper government had indicated its intention in the throne speech last March protecting national security, our government will ensure that no unnecessary regulation will harm the growth of the Canadian mining of uranium unduly subjecting foreign investment restrictions. "

Conservative MP Brad Trost, Saskatoon-Humboldt, has since introduced a private bill to this effect, but this project has not yet progressed to the House of Commons.

Current rules prevent foreign shareholders from owning more than 49% of a company producing uranium. The Government may grant exemptions, such as allowing the French company Areva to operate the McClean.

Saskatchewan, which has fiercely fought to derail the takeover of PotashCorp, is this time for a relaxation of rules. Then it could improve its image in foreign investment. It is a way to tell investors, "Yes, we are ready to do business," said Brad Trost in an interview with The Globe and Mail.

According to Premier Brad Wall, the difference between this issue and the matter PotashCorp is the amount of strategic reserves at stake and the risk he could lose a "champion" of Canada. The province also does not see the rules change for Saskatchewan society Cameco, which produces 16% of uranium in the province.

Cameco is because special rules determined during the birth of the company in 1987. No foreign shareholder may own more than 15% of the shares, and all foreigners can not own more than 25% of voting rights. It nevertheless allows Cameco to count on 50 to 55% of shareholders based outside of Canada.

The spokesman for Cameco, Rob Gereghty, said the company is not opposed to a relaxation of rules. But she wants Canada to obtain the converse to enable it to invest in certain countries closed to this chapter, like Russia, China, India or Brazil.

Impact on developers

Chairman and CEO of Strateco Resources, Guy Hebert, note that the current rules "broadly restrict foreign investment in Canada." "That's why we lost the first rank of producers (in the hands of Kazakhstan)," he adds.

Exploration companies as Strateco, which is developing a project in Quebec, are not covered by the policy of foreign ownership. But it still affects them. Investors can show chilly to take control of an exploration company knowing that it must absolutely find a Canadian partner before the production stage.

In the case of Strateco, notes Mr. Hebert, potential buyers of uranium may well agree to partner with a minority stake, as they get their hands on part of the production. But mining companies would be interested to Strateco take control of the company, says Mr. Hébert. What is not currently possible.