URM Aims to Bolster America's Uranium Supply Solution First American Uranium Inc. (URM.c FAUMF) has entered an amended and restated option agreement to acquire 100% interest in the Red Basin uranium/vanadium Property.
The New Mexico-based project aims to contribute to America's domestic uranium supply solution, and the acquisition is scheduled for completion by late 2023.
CEO Shawn Balaghi emphasizes the importance of Red Basin's potential to provide critical uranium supply domestically.
Previous regional studies estimate the project to contain from 1.6 to 6.5M lbs of U3O8.
https://financialpost.com/globe-newswire/first-american-uranium-announces-accelerated-amended-and-restated-option-agreement-related-to-the-uranium-vanadium-mineral-claims-located-in-catron-county-new-mexico