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Premier American Uranium Inc (PAUIF) provides critical updates through this dedicated news hub for investors tracking domestic uranium exploration and mining developments. Access official press releases and curated analysis covering operational milestones, regulatory compliance updates, and strategic initiatives in nuclear fuel resource development.
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Premier American Uranium has completed its acquisition of American Future Fuel, making AMPS a wholly owned subsidiary of PUR. Shareholders of AMPS received 0.170 PUR shares for each AMPS share held, resulting in 15,540,676 new PUR shares issued.
Additionally, PUR's private placement offering of 2,353,981 subscription receipts for $5.77 million has been completed, converting each receipt into one PUR unit. Each unit includes one share and a half-warrant, allowing holders to purchase shares at C$3.50 until May 7, 2026.
This strategic move secures PUR's position in key uranium districts in the US, with plans to launch drilling programs in New Mexico and Wyoming. The AMPS shares will be delisted from the Canadian Securities Exchange on June 27, 2024.
Premier American Uranium (TSXV: PUR, OTCQB: PAUIF) held its annual general and special meeting on June 25, 2024, where all matters put forward were approved by shareholders. This includes the re-election of existing directors and the conditional appointment of Jon Indall and Michael Henrichsen as directors, pending the closure of a Plan of Arrangement with American Future Fuel Indall brings nearly 40 years of experience in natural resources and environmental law, while Henrichsen has over 20 years of experience in the mining industry. CEO Colin Healey praised the appointments and highlighted future plans for drill programs in Wyoming and New Mexico. The Arrangement's closure is anticipated later this week.
Premier American Uranium (PAUIF) and American Future Fuel have announced an updated Mineral Resource Estimate (MRE) for the Cebolleta Uranium Project in New Mexico. The MRE, prepared by SLR International and effective as of April 30, 2024, reports 18.6 million pounds of Indicated Mineral Resources and 4.9 million pounds of Inferred Mineral Resources.
The update includes upgrading 80% of the previous Inferred Mineral Resources to Indicated status. The project has potential for expansion and further exploration, with a Preliminary Economic Assessment (PEA) being the next step. The report outlines a commodity price of US$80 per pound of U3O8, with cut-off grades of 0.072% eU3O8 for underground and 0.024% eU3O8 for open-pit mining.
Future work will focus on additional drilling to confirm historical data and expand the resource base. This represents a significant milestone for the project, which encompasses 6,717 acres of mineral rights and 5,700 acres of surface rights. Plans include infill drilling and further exploration in previously untested areas.
On May 28, 2024, American Future Fuel (AMPS) and Premier American Uranium (PUR) announced the approval of their Plan of Arrangement by AMPS shareholders, with 99.997% voting in favor. CEO of PUR, Colin Healey, highlighted the strategic benefits of the arrangement, including the acquisition of the Cebolleta project and securing positions in New Mexico, Wyoming, and Colorado. The arrangement coincides with the impending Prohibiting Russian Uranium Imports Act, which will bolster U.S. domestic nuclear fuel production with $2.7 billion in funding. CEO of AMPS, David Suda, expressed optimism for the future and the combined company's ability to advance projects. The completion of the arrangement is pending final court approval and regulatory consents, expected by the end of Q2 2024.
Premier American Uranium Inc. has started trading on the OTCQB Marketplace under the symbol PAUIF, enhancing visibility and value for shareholders. The CEO highlighted the strategic move to attract more investors and capitalize on the U.S. uranium market. The OTCQB listing offers transparency and regulatory standards, improving the trading experience for investors.
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