Blue Sky Uranium Corp. (TSX-V: BSK) (FSE: MAL2) (OTC: BKUCF) has recently announced a significant development that has the potential to propel the company forward. Blue Sky has entered into a binding term sheet with Corredor Americano S.A. (“COAM”), a subsidiary of Corporación América Group, to complete an option agreement in relation to the Ivana Uranium-Vanadium Deposit.
Under the terms of the agreement, COAM has the opportunity to earn up to a 50% indirect interest in the Property by investing up to US$35M and advancing Ivana through to the completion of a feasibility study. Additionally, COAM can earn an extra 1% interest upon deciding to fund the capital cost of the Project and a further 29% interest by funding 100% of the estimated capital costs to achieve commercial production.
Nikolaos Cacos, Blue Sky President & CEO, expressed optimism about the partnership with COAM, highlighting the potential benefits for the company and its shareholders. The agreement sets a clear path for bringing Ivana into production in collaboration with a well-established group in Argentina.
The transaction is subject to various conditions, including obtaining approval from the TSX Venture Exchange and Blue Sky shareholders. However, if successfully completed, it could mark a significant step forward for Blue Sky Uranium Corp. and its plans for the Ivana Uranium-Vanadium Deposit.
The partnership with COAM represents a strategic move for Blue Sky, positioning the company for potential success in the uranium market. With the backing of a capable partner, Blue Sky is poised to make significant progress in the development of the Ivana deposit and further exploration activities in the region.
