Investors Send Shares of CanAm Uranium Corp. (CAUI.OB) Up Sharply Early Thursday, as Company Provides Update
CanAm Uranium Corp. (CAUI.OB) announced a Corporate Update Thursday morning which outlined some very key points:
Since CanAm Uranium’s Board of Directors chose to focus on Uranium as the cornerstone of the company, Uranium has increased from roughly $40 per pound to $135 per pound at its current spot price as of July 2nd 2007.
CanAm has grown to over 4,000 investors and 159,000 acres of prospective Uranium Properties in some of the world’s most prolific uranium mining areas including Bancroft, Ontario and the Athabasca Basin Saskatchewan.
At Bancroft, CanAm Uranium Corp.’s fieldwork focus has been the development of the optioned mineral claims in Bancroft by drilling for as high of grade as possible concentrations of U3O8 in radioactive pegmatite. The Bancroft Uranium Property comprising of 8 optioned mineral claims consists of 3 million historic pounds of Uranium.
At Wheeler-Beckett, CanAm Uranium Corp. has title of 100% of a 51,000 hectare, 11 claims property located in South East Athabasca Basin Saskatchewan. CanAm Uranium Corp. decided in early 2007 that the Athabasca Basin hosts some of the most successful Uranium Mines and Companies in the world, and therefore, the rate of success by growing within the Athabasca Basin would move CanAm Uranium to the forefront of Uranium Exploration Companies.
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