07:17 AM EDT, 10/28/2024 (MT Newswires) -- Uranium Royalty ( UROY ) said Monday that it acquired an existing royalty on the 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, which are operated by Cameco ( CCJ ) .

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 Scott Melbye, CEO of Uranium Royalty ( UROY ).