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Western Uranium & Vanadium Corporate Update24.01.2022 | 14:55 Uhr | GlobeNewswire
Toronto, Jan. 24, 2022 - Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) ("Western" or the "Company") is pleased to provide the following updates. OTCQX Best 50 Weld County DJ-Basis Oil and Gas Lease Sunday Mine Complex Project Update Market Update and Strategic Positioning With its view of improved uranium markets, Western restarted mining operations at the SMC project to expand near-term production capacity. Prior to commencing the 2021 project, the SMC mines were among few mines in the world that were "ready-to-produce" and among the most advanced conventional mines in the U.S. Now the SMC is even better positioned for an upturn in uranium prices and demand. In support of this view, Western has increased its exposure to uranium prices by acquiring strategic physical uranium which has a current market value of USD$5.5 million. The balance sheet has been further enhanced by the final closing of a private placement that raised CAD$4.6 million during December 2021 and January 2022. Additional working capital will be provided by monthly royalty payments from the Weld County oil and gas property. Western has now simultaneously advanced the company into its best ever mining operations and strongest financial position in anticipation of improving uranium market conditions. About Western Uranium & Vanadium Corp. Western Uranium & Vanadium Corp. is a Colorado based uranium and vanadium conventional mining company focused on low cost near-term production of uranium and vanadium in the western United States, and development and application of kinetic separation. Cautionary Note Regarding Forward-Looking Information: Certain information contained in this news release constitutes "forward-looking information" or a "forward-looking statements" within the meaning of applicable securities laws (collectively, "forward-looking statements"). Statements of that nature include statements relating to, or that are dependent upon: the Company's expectations, estimates and projections regarding exploration and production plans and results; the timing of planned activities; whether the Company can raise any additional funds required to implement its plans; whether regulatory or analogous requirements can be satisfied to permit planned activities; and more generally to the Company's business, and the economic and political environment applicable to its operations, assets and plans. All such forward-looking statements are subject to important risk factors and uncertainties, many of which are beyond the Company's ability to control or predict. Please refer to the Company's most recent Management's Discussion and Analysis, as well as its other filings at www.sec.gov and/or www.sedar.com, for a more detailed review of those risk factors. Readers are cautioned not to place undue reliance on the Company's forward-looking statements, and that these statements are made as of the date hereof. While the Company may do so, it does not undertake any obligation to update these forward-looking statements at any particular time, except as and to the extent required under applicable laws and regulations. FOR ADDITIONAL INFORMATION, PLEASE CONTACT: Robert Klein Dieser Artikel stammt von Rohstoff-Welt.de
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