TinyGemsBreaks – Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR), Astron Corp. Enter MOU to Develop Australia-Based REE and Mineral Sands Project
Energy Fuels (NYSE American: UUUU) (TSX: EFR), a leading U.S. producer of uranium, rare earth elements (“REE”) and vanadium, has entered into a nonbinding Memorandum of Understanding (“MOU”) with Astron Corporation Limited to jointly develop the Donald Rare Earth and Mineral Sands Project in Victoria, Australia. According to the MOU, Energy Fuels has exclusive rights through March 1, 2024, to conduct due diligence on the project and negotiate definitive and binding agreements regarding the joint venture. The agreement outlines plans for Energy Fuels to invest approximately $122 million to earn a 49% interest in the venture and to issue $17.5…