District Metals (DMX.V) has reached an agreement with the owner of the remaining four mineral licenses on the Viken project in Sweden it didn’t own yet. District is acquiring all four licenses for a small upfront cash an stock payment and it’s only when/if the uranium exploration and mining moratorium gets lifted that the vendor gets a nice pay day. The image below shows the payment schedule.
District’s timing to consolidate the district makes sense as the odds of the moratorium being lifted are increasing. The company now owns the entire almost-11,000 hectare Viken property which hosts 1.15 billion pounds of uranium with 1.04 billion pounds of uranium, almost 17 billion pounds of vanadium pentoxide, and in excess if 1.5B and 2B pounds of molybdenum and nickel respectively in the inferred resource estimate.
Over the past twelve months, District Metals has positioned itself to take advantage of a potential lifting of the ban on uranium exploration and mining in Sweden.
Disclosure: The author has a long position in District Metals. District is a sponsor of the website. Please read the disclaimer.
