Uranium Equities

The PhosEnergy Process is the innovative solution providing the change required to rejuvenate the uranium from phosphate streams industry.

A globally innovative, patented process, the PhosEnergy Process was developed to deliver the recovery of uranium as a by-product in the manufacture of phosphate based fertilizers.

Uranium Equities Limited, through USA registered Company Urtek LLC (Urtek), is aggressively undertaking the development of this new technology. 

In November 2009 Uranium Equities announced it had secured funding of up to US$16.5M through Cameco Corporation for the continued development and commercialisation of the PhosEnergy Process.  Through a tranched investment Cameco has the right to earn up to 70% of UEQ’s 90% stake in the technology.   The first three tranches totalling US$12.5M have been made by Cameco.  Cameco has the option to cease sole funding at the conclusion of each tranche.

If Cameco funds the entire US$16.5M referenced above, Cameco has also agreed to provide a funding facility for a minimum of 50% of UEQ’s portion of capital expenditure related to the construction of the first commercial plant developed by the joint entity under terms to be determined which would include repayment out of earnings.

In August 2011, Cameco consolidated its ownership in the PhosEnergy Process through the purchase of the Founders’ 10 per cent shareholding (the Founders’ Shares) for US$4.5 million.  The consideration of US$4.5 million represents a substantial 80 per cent premium to the pro-rata earn-in rights which Cameco and UEQ currently hold in the PhosEnergy Process. 
Uranium Equities has a six month option, expiring 27 February 2012, to acquire 30 per cent of these Founders’ Shares for US$1.35 million payable to Cameco plus reasonable cash holding costs.

Non-provisional patent applications have been filed in the USA, Jordan and the Patent Cooperation Treaty (PCT) signatory countries as of 31 July 2009. An additional provisional patent application for a process complimentary to the PhosEnergy process has been filed in Australia.

Rapid development of the technology continues to be a major priority for Uranium Equities Limited.