Continental says Newmont Goldcorp has until July 12 to exercise its right to maintain its ownership of the company in connection with the private placement.
Brazil has a backlog of more than 20,000 areas where mining rights expired or were otherwise lost by their previous holders, equivalent to roughly 10% of the areas with pending mining permits.
While uranium oxide prices continue to drift in the doldrums, several uranium companies have still raised a bit of money to explore and carry out modest programs.