As readers may already know I am a big fan of royalty companies. It appears that a new royalty company is being formed to invest in uranium. Not much is known currently except that the name of the entity is “Uranium Royalty Corp.”
Here is one interesting news item regarding Uranium Royalty Corp.
“Canada-based Uranium Royalty Corporation (URC) has agreed to buy $25m of stock in its flotation and work with Yellow Cake to identify new sources of supply, according to IPO documents seen by the Financial Times.
Assuming Yellow Cake raises $160m from its IPO, URC will emerge with a 15.6 per cent stake in the company, which is planning to acquire 8.1m pounds of the radioactive material from a leading producer.”
I also found this nugget of information in the third quarter 2017 10Q for UEC:
“We acquired a total of 2,000,000 shares of Uranium Royalty Corp. (“URC”), a private entity investing in the uranium sector, for a total consideration of $151,676. In addition, one of our officers was appointed as a member of the board of directors of URC. As at October 31, 2017, we own a 14.5% interest in URC and certain of our officers collectively own an additional 11.6% interest in URC. As a result, our ability to exercise significant influence over URC’s operating and financing policies continues to exist as at October 31, 2017.”
The company directors are all experienced resource and/or uranium executives. The Directors are listed below:
Scott Melbye, who is currently working with UEC as an Executive Vice-President, he was Executive Vice President, Marketing, for Uranium One, responsible for global uranium sales activities. Prior to this, Scott spent 22 years with the Cameco Group of companies, both in the Saskatoon head office and with their U.S. subsidiaries. He had last served as President of Cameco Inc., the subsidiary responsible for marketing and trading activities with annual sales exceeding 30 million pounds U3O8.
Philip Williams appears to have been involved in multiple resource deals, while at Pinetree Capital.
Darin Milmeister, founded Extract Capital on March 7, 2012 and has been its Managing Partner since March 7, 2012. Mr. Milmeister is an accomplished Portfolio Manager and Research Analyst. He has years of capital markets and investment experience in the mining industry. He started his career in leveraged finance at Deutsche Bank. Subsequently he joined Chicago “based Delaware Street Capital as an analyst, before becoming a principal, while managing a long/short portfolio focused on basic materials. In 2011, he left Delaware Street Capital to establish Extract Capital. He served as a Director of U3O8 Corp. since July 2016 until June 22, 2017.
Mike Harrison, has been Managing Director of Sprott Resource Holdings Inc. since November 17, 2015. Mr. Harrison serves as Analyst of Barclays Capital Inc. He serves as Managing Director of Sprott Resource Corp. Mr. Harrison has been Independent Director of Hycroft Mining Corporation since January 2018. H
Here is a link to the current web page which just has Philip Williams listed as a contact.
The company looks like it has done two private placements.
One in October of 2017 for $660,000 and second raise that closed 7/3/2018 for $3.9 million.
Not much else known at this time but with the uranium market poised for a breakout it appears that this is a great time to start a uranium royalty company as many uranium juniors are starved for cash.
I will be waiting with great anticipation the roll out of this new company.
If anyone knows anymore information hit me up at [email protected]
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