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Uranium Resources Signs Further USD200,000 Loan With Estes

Fri, 20th Mar 2015 09:06

LONDON (Alliance News) - Tanzania-focused uranium explorer Uranium Resources PLC on Friday said it has signed a USD200,000 loan facility with major shareholder and strategic investor Estes Ltd.

The loan is in addition to the USD1 million facility Estes provided the company in March 2013 and the USD300,000 loan signed in March 2014.

Estes owns a 56% stake in the company.

"The board remains optimistic about the potential of its Mtonya uranium deposit despite the depressed uranium market and we are encouraged by the continued support from our strategic investor Estes," said Managing Director Alex Gostevskikh.

Shares in Uranium Resources were untraded Friday, having last traded at 0.425 pence.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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