27 Jul (NucNet): Vancouver-based Bayswater Uranium Corporation has completed its merger with Kilgore Minerals, creating a uranium exploration and development company with combined working capital of 42 million Canadian dollars (CAD) (40 million US dollars, 29 million euro).
Bayswater has a property portfolio consisting of large exploration land holdings in Canada’s uranium regions. The company said on completing the merger it now has advanced uranium properties with historical uranium resources having near term production potential in the US.
In Canada, Bayswater says it is the only uranium explorer to have major landholdings in each of Canada’s most important producing and exploration regions – the Athabasca Basin, the Central Mineral Belt, the Thelon Basin and the Hermitage Belt.
In 2007 and early 2008, approximately CAD 20 million has been budgeted for exploration in Canada with the goal of bringing all properties to the drilling stage.
In the US, Bayswater is now one of the largest uranium property holders with 22 projects including holdings in Nevada, Wyomong and Montana.
>>Related reports in the NucNet database (available to subscribers)
World’s Uranium Resources ‘More Than Adequate’ For Growth Of Nuclear Energy (News No. 115, 1 June 2006)
Canada Uranium Firms Plan Merger To Form ‘Major Player’ (News No. 67, 20 March 2007)
