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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Post by bob--tenon Jan 04, 2012 11:16am

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Post# 19368680

Yesterdays news. Are they short of money ?

BOUCHERVILLE, QUEBEC--(Marketwire - Jan. 3, 2012) - Strateco Resources Inc. ("Strateco") (TSX:RSC.TO - News)(FRANKFURT:RF9.F - News) is pleased to announce the closing, on December 29, 2011, of a $3 million bridge loan with SIDEX LP ("SIDEX").

The loan is secured and must be repaid within 30 days from the receipt of the 2011 tax credits for resources, or at the latest, by December 31, 2012. The loan bears interest at an annual rate of 8%. The use of the funds is at the discretion of the Company.

That's about $20,000 in monthly interest payments.

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