"Regarding the timing of the recent media release announcing the consumation of the sale of 107,000 pounds of U308, we are required by stock exchange rules to release any information that is material within 3 days of occurrence. The sale of u308 on the spot market usually takes several weeks between time of the offer for sale and the completion of signed, firm contracts between buyer and seller. In this case, we released this information on the same day we received confirmation from our sales agent (Denison Mines), that we had in hand a firm, signed final contract for the sale of product we offered to the market. Prior to execution of a firm, signed contract, even though the price has been agreed to, the buyer could at any point withdraw their offer. Each sale requires a separate contract to be executed between buyer and seller regardless of how many past transactions have occurred between the two parties.
I hope this clarifies the timing of the release. We are conducting business "as usual" despite the buyout offer from Denison and you can expect to see other media releases in the future from us as the information warrants. If I can provide any further clarification, I would be happy to attempt to do so".
WCU Price at posting:
23.0¢ Sentiment: None Disclosure: Held
