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August 6, 2009

Uranium Star Acquires Control of Madagascar’s Green Giant

Canada’s Uranium Star is to take complete ownership of the Green Giant Vanadium project in Madagascar having purchased the remaining 25% stake from Madagascar Minerals (MMR). The company signed a purchase and sale agreement with MMR for $100,000 soon after it announced a major vanadiu

By cms admin

Canada’s Uranium Star is to take complete ownership of the Green Giant Vanadium project in Madagascar having purchased the remaining 25% stake from Madagascar Minerals (MMR).

The company signed a purchase and sale agreement with MMR for $100,000 soon after it announced a major vanadium discovery and is now preparing for the project’s advancement, Uranium Star said.

As part of the agreement, Uranium Star will pay MMR a 2% net smelter royalty with a buyback option.

The company plans to conduct an extensive drill programme later this year with an aim to define a minimum of 200 million tonnes of appreciable vanadium mineralisation.

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