Uranio AG signs MOU to secure electricity In the Central African Republic
News Release 8-2008 Basel, 9th October 2008
Uranio AG signs MOU to secure electricity In the Central African Republic
Uranio AG is pleased to announce that it has entered into a Memorandum of Understanding with Hydrofinance Limited to secure the electricity necessary for the development of their Uranium projects in the Bakouma region in the Central African Republic.
The directors are very pleased as the agreement underpins the viability of their projects as well as the emergence of the area as a major Uranium producing province.
The region has been recently subject to a variety of deals in the Resource sector, in particular the signing of an agreement between French Nuclear Company Areva and China Guangdong Nuclear Power Co and Chinas Sovereign Wealth Fund to take a 49% of Uramin (Shanghai Daily 9.10.).
The subsidiary of Areva, Uramin, is the owner of the Bakouma Uranium deposit adjoining Uranio's licenses.
On behalf of the Board of Directors
"David Risbey"
Director
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