While Falco Resources fully owns the Quebec-based Horne project, Glencore has the right to buy back the 65% stake in the mine it inherited when it bought Xstrata.
With prices set to double by 2018, we've seen the bottom of the uranium market, and the negative sentiment that has followed this resource around despite strong fundamentals, is starting to change.
Wood Mackenzie expects to see further cuts throughout the year and investment levels continue to shrink as more projects are dropped and companies struggle to breakeven.