Japanese entities, the Japan Australia Uranium Resources Development Co (JAURD) and the ITOCHU Corporation (ITOCHU) have the right to earn a 35% interest in the Lake Maitland Project upon paying a sum of US$39.66M.
Lake Maitland makes just over 1/3 of the currently indicated + measured resource (62Mlbs)
This amount exceeds the current market cap of the company.
I see this as an asset not liability, the Japanese coming onboard would be a massive vote of confidence for our project and securing long term offtake partners for the uranium.
Other Uranium developers with similar market cap are pretenders, only holding rudimentary tenements and Inferred pounds. They are riding the U wave.
Toro is the real deal
Ann: Trading Halt, page-46
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