If Mega exercises this right, it will also be eligible to receive certain future payments based on the achievement of specific milestones connected to the spot price of uranium.īen Lomond represents the cornerstone asset for the Company in Queensland where we now have multiple projects in two important uranium districts.

The option to purchase the Ben Lomond project was exercised, triggering Mega’s right to sell the Georgetown project to Consolidated for an additional $500,000, payable in cash or common shares, at Consolidated’s discretion.

This price was determined using the five-day volume weighted average price of the common shares.Īdditionally, Mega Uranium is entitled to earn certain future payments as a result of the exercise of the option, but only if certain milestones related to the spot price of uranium are met, as stated in the company's news release from May 14 th, 2020.

Fission 3.0 Announces Details of Summer Work Programs at Athabasca Basin RegionĬonsolidated Uranium has finished buying the Ben Lomond project for a total of $3,500,000, which includes $2,500,000 for the option’s exercise and an additional $535,000 for the contract’s spot price contingent payment provisions.īy issuing 1,340,548 common shares of Consolidated at a deemed price of $2.264 per share up to June 10 th, 2022, which is the second business day before the date the option was exercised, the total amount of $3,035,000 was satisfied.

The Sustainable Underground Mining Project: Eliminating CO2 Emissions with Smart Technology.

Fission 3.0 Announces Results of Summer Work Programs on Athabasca Basin Projects.

Fission uranium share price