Canadian Firm Buys Utah Town, RV Parks

Email This Post Email This Post Print This Post Print This Post

December 10, 2007 by   - () Leave a Comment

A Canadian mining company that bought a mothballed uranium mill in Ticaboo, Utah, has now bought the entire private community from a Wyoming company, according to The Associated Press.
Toronto's SXR Uranium One bought the south-central Utah town for its housing. The property includes mobile home and RV parks, the infrastructure for a housing subdivision, a restaurant and general-goods store. The deal even came with a boat.
Wyoming-based U.S. Energy Corp. had owned the mill and town and sat on the assets for more than two decades, waiting for the uranium market to rebound. It operated the mill for only 2 1/2 months in 1982, when the market crashed.
U.S. Energy sold the mill for $6.6 million cash and stock in Uranium One and the promise of royalties. It sold the town for $2.7 million.

[Slashdot] [Digg] [Reddit] [Facebook] [Google] [StumbleUpon]


Feel free to leave a comment...
and oh, if you want a pic to show with your comment, go get a gravatar!