Radio Fuels Energy is focused on the development of its 100%-owned Eco Ridge property located in northern Ontario, approximately 11 kilometres east of the City of Elliot Lake and 400 kilometres northwest of Toronto.
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Video Transcript:
I’m Kamantha Naidoo for Investmentpitch Media
Radio Fuels Energy Corp. is one of the latest new listings on the Canadian Securities Exchange, trading under the symbol “CAKE”.
The company recently raised gross proceeds of $25,495,570 from the placement of 63,807,024 units priced at $0.40 per unit.
Each unit consisted of one share and one-half a warrant with each full warrant exercisable at $0.50 for 60 months.
The shares are trading at $0.41.
The company is focused on the development of its 100%-owned Eco Ridge property located in northern Ontario, approximately 11 kilometres east of the City of Elliot Lake and 400 kilometres northwest of Toronto.
Production in the Elliott Lake District commenced in 1958 and ended in 1996, when the last mine in the district was shut down due to the low demand and oversupply of uranium.
The Elliot Lake mining camp, formerly known as the uranium capital of the world, has produced more than 270 million pounds of U3O8 from vast, strata-bound deposits.
Uranium and thorium occur within the Huronian Supergroup at several localities in the region with the mineralized reefs of the Elliot Lake mining camp well known for their consistency and size.
For more information on the property, including details of a Resource Estimate dated August 19, 2021, please refer to the NI 43-101 Technical Report, dated September 14, 2021, which is available on Sedar.com.
This image shows a typical cross section through the deposit.
The uranium mineralization is consistently concentrated at the base of the main conglomerate bed and the uranium content decreases toward the top of the bed.
According to the Technical Report, the Mineral Resources at Eco Ridge have excellent potential for expansion, with low exploration risk, with the deposit remaining open down-dip.
For more information, please visit the company’s website www.radiofuels.ca, contact Cejay Kim, President and CEO, at 778-886-1826 or by email at cejay.kim@gmail.com.
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I’m Kamantha Naidoo for Investmentpitch Media
