From the Uran site:Discovery and Integra have established a...

From the Uran site:

Discovery and Integra have established a company in Russia called Urasia Mining, the shares of which are owned 50% by Discovery and 50% by Integra.


The Board consists of two representatives of Discovery and two representatives of Integra. Integra will identify and, if Discovery agrees, seek to acquire for Urasia Mining rights to advanced uranium projects in Uzbekistan and Kazakhstan.

Discovery will contribute the first A$1,000,000 to Urasia Mining for acquisition, exploration and development of any advanced uranium project which is acquired.

Discovery may increase its interest in the project, should Integra elect not to contribute, to 60% by solely funding the next $1,000,000 expended, and to 70% by solely funding the next $1,000,000 expended.


Discovery may fund all subsequent expenditure in which case Integra’s 30% share will constitute a loan repayable to Discovery from first production.

Integra’s knowledge of uranium mineralization in the region, and its strong presence in Uzbekistan, provide opportunities to build a strong uranium portfolio in the region...


I did a bit of hunting on Integra the other night and they seem to be a well established company over there involved in resource operations and search technologies.

The ann does read as those the Discovery option is a done deal which would then put Uran in the same arrangement to buy out Integra's share of any findings.

Nice to know that with the SPP the funds to take this opportunity up will be available. I imagine with Kate's role she would have the inside knowledge of all potential of what's been identified and how likely this scenario is to occur. Working with an all ready established group over there could also help to avert problems dealing in that region.

Seems a smart move and like things heading in the right direction.