Dourado Resources
Dourado Resources (ASX: DUO) is a Perth based exploration company that has been established to predominantly explore for deposits of gold, copper and uranium mineralisation.
Dourado Resources' Eclipse Uranium IPO to deliver significant share holding
Wednesday, May 05, 2010
Dourado Resources (ASX: DUO) has updated shareholders on the recent decision to divest its uranium assets in the Northern Territory as part of a new Initial Public Offering to focus on uranium exploration.
As announced to ASX, on 5 March 2010 and approved by shareholders on 21 April 2010, Dourado plans to spin-out its uranium assets into a new IPO by Eclipse Uranium Ltd, which is currently wholly owned by Dourado.
Peter Del Fante, Managing Director, said the divestment will deliver Dourado a significant share holding and board representation in a cashed up entity that has the sole focus of exploring for uranium in the Northern Territory.
A successful listing of Eclipse on the ASX will deliver Dourado, a holding of between 20% and 33% depending on the amount raised from the Initial Public Offering.
Eclipse will have a large landholding, having also obtained an option to acquire exploration assets from Cauldron Energy (ASX: CXU), announcements dated 5 March and 23 April 2010).
The company said these exploration projects are well positioned in fertile uranium provinces. They are relatively un-explored for uranium, despite their prospectivity and the Northern Territory being a major focus for uranium exploration in Australia.
Eclipse has recently lodged its prospectus with the ASIC.
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