Strathmore Minerals Corp. (TSX-STM / OTCQX-STHJF)Strathmore is one of the largest holders of in-ground uranium resources in the United States. The Company's goal is to become a leading uranium producer in the United States. Its core projects are located in the two largest historical uranium producing regions: the Grants Uranium District in New Mexico and the Gas Hills Uranium District in Wyoming.
Strathmore is advancing two core uranium development projects towards production: Roca Honda in New Mexico and the Gas Hills in Wyoming. In 2007, Roca Honda was partnered with Sumitomo Corporation of Japan under the jointly owned subsidiary Roca Honda Resources LLC ("RHR"). In October 2009, RHR submitted its Roca mine permit application. A mine permit decision is expected in 2013. In February 2012, Strathmore optioned its 100% owned Gas Hills uranium properties in Wyoming to Korea Electric Power Corp. (KEPCO), as part of a two phase exploration, development and permitting program. Phase I is continuing. KEPCO can earn-in up to 40% of the Gas Hills by electing to proceed to Phase II and by incurring expenditures of US $32 million over three years beginning in 2013. A decision is expected by Q3 2013. Strathmore submitted its Gas Hills mine permit application in November, 2012.
In February, 2012, KEPCO became the Company's largest shareholder with an 11.8% equity stake, by completing a US $8 million common share private placement at a price of C$0.55 per share. In May, 2012, Strathmore acquired Saratoga Gold Company Ltd and its "Copper King" gold-copper project in Wyoming.