Uranium Exploration (U3O8)

[NYBob]

Cameco closes acquisition of Kintyre property -
Monday August 11, 12:43 pm ET

Cameco closes joint venture acquisition of Kintyre uranium property in Australia

SASKATOON, Saskatchewan (AP) --

Cameco Corp., -
the world's biggest uranium producer, says it has closed the acquisition of a 70 percent stake in the Kintyre uranium exploration project in western Australia for $346.5 million, along with partner Mitsubishi Group.

Cameco said Monday the joint venture is 70 percent owned by Cameco and 30 percent by Mitsubishi Development Pty Ltd., a unit of Japanese resources and industrial giant Mitsubishi Corp.

The partners bought the Kintyre project from global giant Rio Tinto for $495 million through a bidding process.

The Saskatchewan-based Cameco said it will operate the project and is funding its share of the purchase price through existing credit lines.

http://biz.yahoo.com/ap/080811/canada_australia_cameco.html?.v=1

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