Overview
- On Dec. 16, Skyharbour closed the acquisition of RTEC’s approximately 42.3% stake in Russell Lake for C$10 million, with C$2 million paid on signing and C$8 million at closing.
- Skyharbour granted RTEC a 0.25% net smelter returns royalty and reported its interest increased to 100% prior to new joint venture arrangements, subject to existing third-party royalties.
- Denison and Skyharbour formed four exploration joint ventures from claims that previously comprised Russell Lake, located adjacent to the Wheeler River project.
- Denison will operate the Wheeler North and Wheeler River Inliers JVs with ownership interests of 49% and 70%, while Skyharbour operates the Russell Lake and Getty East JVs with Denison holding 20% and 30%.
- Denison obtained options to increase its ownership in Wheeler North and Getty East to up to 70%, as the 73,314-hectare property benefits from Highway 914 access and a nearby high‑voltage powerline between Key Lake and McArthur River.