Preliminary Short Form Base Shelf Prospectus on Sedar $500MMFor those who have not yet seen this announcement things just became very serious here!
The company is embarking on raising up to $500MM in capital through the issuing of new shares over a 25 month period. Obviously for the capital cost of constructing the mine.
Gives absolute credibility to the viability of the deposit, the mine and the company's resolve to proceed to production. The timeline of 25 months is important to note as this should put an end date for the initial construction phase (allowing production capital to take over).
Overall I see this as highly positive and will allow the share value to rise over time as mine construction progresses and moreso if the price of uranium continues to rise.
Check out the filings on Sedar. Lots of fine print to go through!