12:22 PM EDT, 10/28/2024 (MT Newswires) -- Uranium Royalty ( UROY ) said Monday it acquired an existing royalty on Cameco's ( CCJ ) Millennium and Cree Extension uranium projects in Saskatchewan for $6 million.

The company said the royalty is a net profit interest of 10% on an approximate 21% stake in the projects.

The royalty becomes payable after recovery of all qualifying preproduction expenditures incurred after the establishment of the royalty, according to Uranium Royalty ( UROY ).

"The transaction is another example of our ability to leverage the URC team's experience and networks to source and execute accretive uranium royalty transactions," said chief executive Scott Melbye.

The company's shares were last seen up $0.13 to $4.16 on the Toronto Stock Exchange.

Price: 4.16, Change: +0.13, Percent Change: +3.23