Santoy Resources Ltd. TSXV-SAN


Symbol: TSX-V: VAE
Last: $0.26
Day High: $0.28
Day Low: $0.26
Volume:
Change: even
Date: 03-09-2010
Time: 15:59
15-20 min delay
Trading in Canadian $





Virginia Energy Resources Inc. (TSX.V: VAE) is focused on the exploration and development of uranium, coal, gold and other minerals in North America. We are well financed and hold interests in advanced through early stage projects in Virginia, Saskatchewan, Quebec, Mexico and Labrador. The company explores on its own account and in joint venture with industry partners. The JV approach is a reflection of the high risk involved in exploration ventures, and is used as a method of increasing our exposure to discoveries while committing less funding. Virginia Energy is committed to grow shareholder value through investment in world-class projects in stable geopolitical regions. On July 21, 2009, Virginia Uranium Ltd. merged with Santoy Resources Ltd. to form Virginia Energy Resources Inc (VAE). The management team behind the new company is made up of highly experienced technical and financial professionals with a history of success in the discovery, development and operation of gold and uranium mines in North America, including the Eskay Creek, Snip and Brewery Creek gold mines in British Columbia and several uranium producers in Saskatchewan and the western USA.

Virginia's most important asset is a 22.2% stake in the giant Coles Hill, Virginia uranium deposit. Through a first right of refusal on future financings, Virginia has the option to increase this investment as the project advances. As a major shareholder of TSX-listed Boss Power Corporation, Virginia also holds a 32.7% interest in the high-grade Blizzard uranium deposit in British Columbia. This asset has been damaged through a ban on uranium mining imposed by the Government of British Columbia, and Boss is seeking compensation for damages through a court action. Virginia also holds an 8% carried interest in the Bingo and other deposits in the La Ronge Gold Belt Project, Saskatchewan, which is being advanced towards commercial production by TSX-listed Golden Band Resources Inc. Golden Band has the right to purchase Virginia's interest for between $3.75 and $4 million under different scenarios.

The Company's most important and active exploration projects are its Murphy River and Hatchet River uranium properties in the Athabasca basin which are held in a 50-50 Joint Venture with Denison Mines Ltd., and its Xemplar Option uranium properties in the Otish Basin of Quebec, where Virginia can earn up to 100% interest through an option agreement with Xemplar Energy Corp.


Mar 08, 2010: News Releases: Virginia Reports Study Underway for Coles Hill Ura... (more...)
Mar 05, 2010: News Releases: Virginia Energy Releases High-Grade Uranium Assays... (more...)
Mar 04, 2010: News Releases: Virginia Energy Releases Final 2009 Uranium Assays... (more...)

Mar 7 - 10, 2010: PDAC 2010 - Metro Toronto Convention Centre, South Building, Toronto, Canada






Virginia Energy Resources Inc. TSXV-VAE