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MENAFN - ProactiveInvestors - Australia - 19/11/2012

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(MENAFN - ProactiveInvestors - Australia) Anatolia Energy (ASX: AEK) has acquired 26.1% of its joint venture partner Vetter Uranium, giving it an effective 52% interest in an advanced uranium project in Central Anatolia, Turkey.

Aldridge Minerals (CVE: AGM) will be paid C250,000 for its stake in Vetter. It has also agreed to sell its remaining equity stake of 6.4% in Anatolia consisting of 10 million shares priced at A0.05 each.

Canadian investment company, Sprott Asset Management has purchased 9 million shares while the remaining shares have been acquired by Anatolia's managing director Jim Graham.

Vetter holds a 65% direct interest in Anatolia Uranium, which owns the project.

Anatolia has the right to acquire up to 75% in Anatolia Uranium by spending A15 million in two A7.5 million tranches on the project.

It had previously earned 9.7% in the joint venture by bringing total expenditure to date to A5.3 million.

The project is located within one of Turkey's key uranium regions, close to established infrastructure and includes the Temrezli uranium deposit, one of Turkey's largest and highest grade uranium deposits, with a Resource of 17.41 million pounds of contained uranium.

 






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