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The latest announcement is out from Pegasus Resources ( (TSE:PEGA) ).
Pegasus Resources has secured an Other Business Arrangement with Utah’s School and Institutional Trust Lands Administration, giving it exclusive rights to explore for uranium and associated metalliferous minerals on about 640 acres in Emery County for five years. The deal underscores Pegasus’s strategic push into U.S. uranium assets as it broadens its North American footprint in energy-related minerals.
Under the arrangement, Pegasus will pay US$6 per acre annually and conduct staged exploration including geophysical surveys, permitting, drilling and technical studies. The OBA allows conversion of all or part of the ground into mineral leases if exploration and payment conditions are met, potentially advancing the company’s uranium portfolio and offering future development optionality for investors and local stakeholders.
More about Pegasus Resources
Pegasus Resources Inc. is a diversified junior Canadian mineral exploration company focused on uranium, gold and base metal properties across North America. The company also seeks additional resource opportunities to enhance shareholder value, positioning itself within the broader critical minerals and precious metals exploration space.
Average Trading Volume: 98,223
Technical Sentiment Signal: Sell
Current Market Cap: C$2.79M
For detailed information about PEGA stock, go to TipRanks’ Stock Analysis page.