Canadian Mining Journal


CanAlaska Uranium regains momentum in the Athabasca

VANCOUVER — Project generator CanAlaska Uranium (TSXV: CVV; US-OTC: CVVUF) has been on a rough run since the Fukushima Daiichi nuclear disaster rocked the uranium industry in mid-2011, but the uranium junior remains one of the largest landholders in Saskatchewan’s Athabasca basin.

The company is sitting on 8,720 km2 in the region, where it has spent $85 million in exploration since 2004, and thanks to a pair of recent option agreements with notable uranium companies, it has re-emerged as an active explorer.

Five years earlier CanAlaska was humming along at $1.67 per share, with two partners funding large exploration programs on two slices of the Athabasca. The company had a joint venture at its West McArthur project, wherein Japan’s Mitsubishi would earn a 50% interest for $14.4 million in spending, while the Korean Uranium Consortium would invest $19 million to earn 50% in CanAlaska’s Cree East asset.

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