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Uranium Resources hits financing snag, opts out of Rio Algom purchase
Posted on June 26, 2008
Uranium Resources Inc. [Nasdaq:URRE] said Thursday that it's decided to terminate and agreement to purchase Rio Algom Mining from BHP Billiton. The company said current market conditions had prevented it from borrowing the $180 million needed to finance the deal. The company had already incurred and capitalized $1.2 million in costs associated with the transaction. This if further evidence of the difficulties facing junior miners in obtaining financing....
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