re: azr uranium / pdn
eccoi, thanks for the reminder...
Hence I dug this one out of the archives...
Talks about Aztec receiving a royaly from PDN from the Langer Heinrich... has anyone read anything more about this? Is this royalty still intact???
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Aztec Resources sells Langer Heinrich uranium project
With its primary focus on the Koolan Island iron ore project and the Brockman tantalum/polymetallic project, Aztec Resources has reached agreement with Paladin Resources for the sale of its interest in the Langer Heinrich uranium project in Namibia, southern Africa.
Over the past 18 months, the Langer Heinrich project has been maintained at minimal levels. The company believes that the future potential of the Langer Heinrich uranium deposit, and hence value for Aztec Resources, can be best achieved by a company with a dedicated focus. The letter of agreement therefore provides for the company to receive a sales royalty of $0.12/kg of yellow cake, together with a cash consideration of $15,000.
The sale will allow Aztec to benefit from any future development of the project, without the need for the further allocation of funds that it says will be better directed to the Koolan Island and Brockman projects .
The company has written off all expenditure incurred on the Langer Heinrich project ($2.2m) and will bring to account future royalty income on a cash received basis.
2 August 2002
AZR
aztec resources limited
