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Toshiba gets out of a uranium deal

Toshiba gets out of GoviEx deal, Mining Journal , 4 Mar 18, 

Japanese conglomerate Toshiba has severed an offtake and bond agreement with uranium producer GoviEx Uranium (CN:GXU) following the sale of its Westinghouse nuclear division to Brookfield.

Toshiba and the Africa-focused uranium explorer signed a US$40 million deal in 2012 in which the Japanese company lent the equivalent of 200,000 pounds of U3O8 (with the bond now worth 382,193Ib because of the compounded interest), as well as an offtake and shareholding agreement.

GoviEx will pay $4.5 million to get out of the bond by the end of the month, it said.

The developer is still working on financing the $220 million Madaouela project…..http://www.mining-journal.com/project-finance/news/1316062/toshiba-gets-out-of-goviex-deal

March 5, 2018 - Posted by | general

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