US EditionPublished • loading... • Updated
Mustang Energy Corp. Enters Option Agreements with Thunderbird Resources Ltd.
- Thunderbird Resources Ltd. and Mustang Energy Corp. signed binding agreements on June 5, 2025, for uranium projects in the Athabasca Basin.
- The deals arose from Thunderbird’s divestment strategy and Mustang's portfolio synergy, as highlighted by Thunderbird Chairman George Ventouras.
- Mustang earns a 60% interest in Cluff Lake and a 51% interest in Surprise Creek by providing Thunderbird with shares valued at C$100,000, paying C$20,000 in cash, and committing to spend C$1 million on exploration for each project.
- Mustang pays an additional C$100,000 cash after stage one and may earn up to 80% in Cluff Lake and 80% in Surprise Creek by further expenditures and payments.
- Thunderbird will reallocate C$980,000 from its Firetail Resources shares to exploration and expenses, enabling Mustang to expand uranium and copper prospects.
Insights by Ground AI
12 Articles
12 Articles
Thunderbird Resources Sells Uranium Project Stake
Thunderbird Resources (ASX:THB) has entered a binding agreement to sell 80% of its Cluff Lake North and Surprise Creek uranium projects to Mustang Energy Corporation (CSE:MEC). Located in the Athabasca Basin, the projects are considered prospective for uranium, with Surprise Creek also showing copper potential. The deal unfolds in stages; Mustang Energy initially earns a 60% stake in Cluff Lake and 51% in Surprise Creek by issuing C$100,000 in s…
Coverage Details
Total News Sources12
Leaning Left8Leaning Right1Center2Last UpdatedBias Distribution73% Left
Bias Distribution
- 73% of the sources lean Left
73% Left
L 73%
C 18%
Factuality
To view factuality data please Upgrade to Premium
