Sep 3 2015
GoviEx Uranium Inc. announced today that its strategic partner, Toshiba Corporation - one of the world's largest nuclear reactor vendors - has agreed to a two-year extension of an early redemption right of Toshiba's uranium loan (B Bond), to December 31, 2017.
"By agreeing to this extension, GoviEx and its strategic partner Toshiba reaffirm our commitment to the commercial development of the Madaouela Project in the prolific Arlit uranium-mining district of northern Niger," said Daniel Major, Chief Executive Officer.
Govind Friedland, GoviEx's Executive Chairman, welcomed the agreement as a "definitive confirmation of the ongoing, high-level and long-term support that we continue to receive from Toshiba, our largest nuclear-industry partner.
"We remain optimistic that the extended redemption date will more closely align with improved uranium market conditions. Indications from Japan point to the continued restart of idled nuclear power plants, and the outlook includes significant anticipated growth in nuclear power production in China, India and the Middle East," Mr. Friedland added.
GoviEx remains focused on advancing the mining permit application process for its Madaouela Project.
Source: http://www.goviex.com/