Uranerz Nichols Ranch Project Map

Uranerz Nichols Ranch Project Map

If the excitement in surrounding the Patterson Lake South discovery isn’t enough, the uranium sector got another boost after Uranerz Energy (URZ:TSX) announced a $10 million bought deal financing.  The underwriting was led by Uranerz supporter Haywood Securities and included Dundee and Cantor Fitzgerald.  The financing was priced at $1.17 per unit (only a slight discount to the market).

The Company is advancing the Nichols Ranch ISR uranium project in the Powder River Basin of Wyoming.  URZ recently announced a short-term $6 million debt facility while it awaits the decision of whether it will receive a $20 million low interest rate loan as part of a government sponsored program to support development in the state.  Uranerz intends to produce 600,000 to 800,000 pounds of uranium annually at $24 per pound (excluding taxes and royalties) at Nichols Ranch.

News Release here: Uranerz Announces US$10 Million Bought Deal Financing