
Refined Energy terminates its Dufferin uranium option in Saskatchewan after a technical review, shifting focus to the Golden Goose gold-antimony project in Newfoundland. A NI 43-101 report is due soon.
Refined Energy Corp. (CSE: RUU) (OTC: RRUUF) said Wednesday it terminated its option to earn an interest in the Dufferin Uranium Project in Saskatchewan, choosing instead to focus on its Golden Goose gold-antimony project in Newfoundland.
The decision came after an initial exploration program and technical review, the Vancouver-based company said. Refined expects to receive an independent NI 43-101 technical report for the Golden Goose project in the near term and will develop exploration plans from there.
CEO Mark Fields thanked Eagle Plains Resources Ltd. for the opportunity and said the company remains "committed to a disciplined approach to capital allocation."
The shift from uranium to gold-antimony marks a strategic pivot for Refined, which describes itself as a Canadian mineral exploration company focused on strategic projects in tier-one jurisdictions. The company's portfolio now centers on the Golden Goose project in Newfoundland, a jurisdiction that has seen increased mining interest in recent years.
Jared Suchan, P.Geo., a geological consultant to the company and a qualified person under NI 43-101, reviewed the scientific and technical information in the release.
Refined shares closed at C$0.055 on the Canadian Securities Exchange, up from C$0.05 the prior session on light volume. The stock has traded between C$0.02 and C$0.22 over the past 52 weeks.
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