Mega Uranium Announces US$44m Global Investment

Canadian mineral resources company Mega Uranium is to invest US$44m in uranium global exploration for 2008.

The company will fund 20 exploration programmes around the world, a total of 82,000m of drilling in Australia, Canada, Argentina, Cameroon and Mongolia.

Over 80 percent of the company's uranium budget will be spent on Canada (US$20.5m), Australia (US$11.7m) and Cameroon (US$6m), says Mega.

The US$44m does not include funding of ongoing prefeasibility studies of Mega's Ben Lomond and Lake Maitland uranium resources in Australia.

By staff writer