Nexus Uranium Options Its JD Property Within the Arizona Strip Project
Nexus Uranium (NEXU.CN) on Tuesday said it optioned its JD property, a collection of six Bureau of Land Management (BLM) lode mining claims covering a single breccia-pipe uranium target within its Arizona Strip Project to a closely held British Columbia numbered company.The optionee, 1584563 B.C. Ltd., is committing to C$1.85 million in exploration expenditures over a four-year earn-in period. It will also make pay C$310,000 in cash and issue up to 2.6-million shares at a deemed price of C$0.05 each.Nexus retains a 2% net smelter return royalty on the property, half of which may be bought back for a cash payment of C$2 million, the company said.The company's shares were last seen down C$0.05, or 7.1%, to $0.65 on the Canadian Securities Exchange.Price: $0.65, Change: $-0.05, Percent Change: -7.14%
