Source: Sharecast
Metals One said the acquisition the Squaw Creek Claims, which holds the Squaw Creek uranium project, represent its second uranium project in the US, and complements the recently completed acquisition of the Uravan Uranium-Vanadium Project in Colorado.
The AIM-listed group acquired 100% of the SQ Claims for $50,000 in cash and the issuance of 500,000 new ordinary shares at 19.03p per share, equivalent to a 5% discount to its five-day volume-weighted average price.
Metals One said the acquisition further consolidates its position in the US uranium sector, aligned with its strategy to advance critical mineral assets essential to the clean energy transition.
It also noted that with uranium demand forecast to rise amid global nuclear energy expansion and increasing geopolitical focus on domestic supply, Metals One sees "significant long-term value" in US-based assets.
Chairman Craig Moulton said: "We are pleased to have completed our second outright US uranium acquisition in the Shirley Basin, Wyoming, following our successful acquisition in Colorado. This follows our entry into the Red Basin, New Mexico, via NovaCore Inc last week also.
"We continue to build momentum with our North American strategy and this positions us to advance exploration across three highly prospective districts with strong historic uranium pedigree and near-term exploration upside."
As of 0945 BST, Metals One shares were up 4.17% at 12.23p.
Reporting by Iain Gilbert at Sharecast.com