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Cosa Resources Corp. ( (TSE:COSA) ) just unveiled an update.
Cosa Resources Corp. has granted Traction Uranium Corp. an option to earn up to an 80% interest in its Aurora uranium project in the southeastern Athabasca Basin, in a deal worth more than $10 million in exploration funding, cash and shares. The structure provides over $9 million in partner-funded exploration, $1.5 million in cash payments and 5 million Traction shares over five phases, with Cosa as initial operator earning an operator fee and retaining the ability to revert to full ownership if Traction exits early.
Aurora, located near the Key Lake uranium mill and past-producing mine, has seen no drilling since 1979, but recent geophysical work by Cosa has outlined priority targets with drilling planned for 2027. The transaction allows Cosa to advance Aurora with external capital while focusing its own resources on higher-priority joint ventures such as Darby and Murphy Lake North with Denison Mines, potentially strengthening its exploration pipeline and partnership-driven growth strategy in the Athabasca uranium sector.
More about Cosa Resources Corp.
Cosa Resources Corp. is a Canadian uranium exploration company focused on northern Saskatchewan’s Athabasca Basin region. Its roughly 237,000-hectare portfolio spans multiple underexplored, mostly 100%-owned and Cosa-operated joint venture projects, concentrated within or near established uranium corridors.
Average Trading Volume: 164,769
Technical Sentiment Signal: Buy
Current Market Cap: C$42.67M
Learn more about COSA stock on TipRanks’ Stock Analysis page.