Valor backers pump $5.4m in for Canadian uranium hunt
Valor Resources has extracted a handy $5.4m from the market to throw at its Canadian uranium projects as it ramps up exploration activities amid strengthening uranium prices. The Perth-based explorer is knee deep in a flurry of exploration activities as the uranium price is spurred on by increased global demand for yellow cake.
The company recently completed a placement through the issue of 319 million new shares priced at 1.71 cents. Curiously, the price represents a seven per cent premium to Valor’s closing market price of 1.6 cents on the 22nd November 2021 and a four per cent discount to the 15-day volume weighted average price.