OCR Text |
Show AMEX adding to U-ore property near Blanding Energy Resources Corporation Corpora-tion (AMEX) has made recent acquisition of uranium properties proper-ties in the vicinity of Blanding to bring its current holdings of contiguous property there to 42,000 acres, it was reported report-ed recently by the Mining Record. The company announced further that they had secured options to purchase over 15,000 more acres of potential uranium property near Blanding. Bland-ing. Ten miles east of this location, the company has a six month option to purchase another 5,000 acres. At this site, the company anticipates entering into a joint venture agreement with an unnamed firm for exploratory work to determine if the option should be exercised, based on the ' available uranium deposits. I Further joint venture discussions discus-sions are being held concern ing major holdings near Blanding, known as Black Mesa. A form of agreement will be presented to the board of directors at the regular meeting this month. AMEX reported a net income in-come of $1.94 million, or $1.05 per share, for the fiscal year ended June 30, 1977, it was reported, a jump from the $1.7 million for the previous year. |