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Powertech Uranium Corp.  TICKER: PWE:TSX DESCRIPTION: Powertech Uranium Corp. is a near term uranium producer, well positioned for rapid growth in the burgeoning U.S. nuclear power industry. The company’s property holdings cover more than 53,000 acres in the western U.S. Its core assets are the Dewey Burdock project in South Dakota and the Centennial project in Colorado, two advanced stage projects with National Policy 43-101 compliant inferred resources exceeding 17 million pounds of U3O8. The company targets low cost uranium properties with the shortest lead time to production and specializes in the safe and economical in-situ recovery (“ISR”) production method. The company has experienced management and a highly qualified technical team with more than 200 years of experience in all aspects of the uranium industry from exploration, permitting, designing, building, and operating ISR mines. Watch Business & Beyond presentation featuring Powertech Uranium. WEBSITE: http://www.powertechuranium.com The information below is based on the most recent information we have received from analysts and the companies participating in The Energy Report. We encourage you to visit the company's web site for updates. Synatom, a subsidiary of European energy giant Electrabel, has purchased 6 million additional shares of Powertech for $9 million. The deal, announced last month, gives Synatom a 19.6 percent ownership of Powertech and could eventually allow it to invest $33 million and own 33.9 percent of the company if all the options in the agreement are exercised by Synatom. "We are pleased to welcome Synatom as a substantial shareholder in the company," Powertech USA President Richard Clement said in a press release announcing the investment. "We anticipate a mutually beneficial working relationship and look forward to their input and knowledge of the worldwide uranium industry. The proceeds of this strategic investment by Synatom will help Powertech achieve its goal of becoming a significant in-situ recovery uranium producer in the United States." (7/4/08) - Northern Colorado Business Report
Powertech Uranium Corp. has sold 6 million shares in the company to the Société Belge de Combustibles Nucléaires Synatom SA, or Synatom, according to a Powertech press release. Synatom manages the fuel cycle for Belgium's nuclear power plants. It is a subsidiary of Electrabel, a European energy company, which is owned by Suez, an international industrial and services group that works in energy, water and waste management. The deal, which closed June 5, will raise $9 million (Canadian) for Powertech in working capital as it seeks permits for projects in Weld County and South Dakota." (6/10/08) - coloradoan.com
- ncbr.com
(54.7 million fully diluted) with cash at $6.5 million. Resources include Dewey Burdock in South Dakota with Inferred Resource of 7.6 million pounds U3O8 contained within 1.63 million tonnes grading 0.21% U3O8. The Centennial project in Colorado contains 9.7 million pounds U3O8 within 4.72 million tonnes grading 0.094% U3O8. " (4/8/08) -WENDELL ZERB, CANACCORD ADAMS
State officials have delayed a decision for three weeks on rules for groundwater permits that will be required of uranium companies. Mark Hollenbeck of Powertech Uranium Corporation says it's been gathering groundwater-quality data that's required as part of the permit process. The firm hopes to mine for uranium near Edgemont." (3/13/08) - keloland.com
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