Key Developments: Crosshair Energy Corp (CXZ)
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23 May 2013
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Latest Key Developments (Source: Significant Developments)
Wealth Minerals Ltd Enters Into Letter Of Intent With Crosshair Energy Corporation
Wealth Minerals Ltd announced that it has entered into a Letter of Intent (LOI) with Crosshair Energy Corporation, a public company headquartered in Vancouver, BC, to sell Crosshair all of Wealth's prospective uranium properties in Argentina. The consideration for the sale of the properties is payments to Wealth of CAD 1.0 million in cash (less the amount of any outstanding liabilities associated with the sale properties and assumed by Crosshair) and the issuance to Wealth of one million Crosshair common shares. The cash payments and share issuances will be done over a two year period, with CAD 300,000 and 750,000 Crosshair shares due on closing. In addition, Wealth retains a 1% yellowcake royalty on all uranium production and a 1% NSR royalty on all other minerals. Full Article
Crosshair Energy Corporation Begins 2012 Drill Program At Juniper Ridge, Wyoming
Crosshair Energy Corporation announced the Bureau of Land Management (BLM) and Wyoming Department of Environmental Quality (WYDEQ) have approved the addition of 149 exploration, delineation, and infill boreholes to Crosshair's 2011 Notice of Intent to Drill (NOI) at its wholly owned Juniper Ridge Uranium Project near Baggs, Wyoming. Drilling started on July 14, 2012. The first phase of this 2012 drilling program, totaling approximately 24,300 feet (7,407 metres), is designed to delineate open mineralization trends, bolster uranium resource certainty and investigate potential additional resources in areas not covered by historic data or Crosshair's 2011 drilling. Full Article
Crosshair Energy Corporation Prepares For Transition With New President And Chief Executive Officer
Crosshair Energy Corporation announced the appointment of Mr. Mark Ludwig, PE, as President & Chief Executive Officer (CEO)effective April 30, 2012. Mr. Ludwig was appointed Chief Operating Officer in July 2011 and brings more than 30 years of mining, management and mineral exploration and development experience to his new role. Mr. Ludwig takes over from Mr. Stewart Wallis, who is retiring from his role as President & CEO but will remain as a member of Crosshair's Board of Directors and a consultant to Crosshair as well as the entire Forbes West group of companies. Full Article
Crosshair Exploration & Mining Corp. Announces Name Change To Crosshair Energy Corporation
Crosshair Exploration & Mining Corp. announced that its name has changed to Crosshair Energy Corporation. Crosshair's trading symbols: CXX on the Toronto Stock Exchange and CXZ on the NYSE Amex will remain unchanged. It is anticipated that the Company's common shares will commence trading on the NYSE Amex under the new name on November 1, 2011, and on the Toronto Stock Exchange on November 2, 2011. Full Article
Crosshair Exploration & Mining Corp. Announces Proposal To Acquire Uranium Assets From Australian American Mining Corporation Limited
Crosshair Exploration & Mining Corp. announced that it has delivered a proposal to Australian American Mining Corporation Limited (AusAm) for the acquisition of AusAm's United States uranium assets, namely the Apex/Lowboy Project, Lone Star Project and Rio Puerco Project (the AusAm Uranium Assets). Under the proposal, AusAm would receive consideration of USD12.85 million for the AusAm Uranium Assets payable in Crosshair shares. In return, Crosshair would acquire the AusAm Uranium Assets and be responsible for progressing them and enhancing their value. Full Article
Crosshair Exploration & Mining Corp. Commences Drilling At Juniper Ridge
Crosshair Exploration & Mining Corp. announced that drilling has commenced at the Juniper Ridge Uranium Project in southwest Wyoming. The 2011 program will consist of 400 holes drilled to an average depth of 200 feet for a total of 80,000 feet (24,400 metres) of drilling in order to confirm historical results. The drill program will be complimented by a metallurgical program with the goal of confirming and expanding the historical uranium resource into a National Instrument (NI) 43-101 compliant resource. Full Article
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