#Argentina #Blue Sky Uranium #Ivana Deposit #Rio Negro #Abatare Spain

Blue Sky Uranium Expands Operations Through Earn-In Agreement with COAM

Blue Sky Uranium Corp. has recently announced the initial closure of an important earn-in transaction with Abatare Spain, S.L.U. (commonly referred to as COAM). This collaboration is set to enhance the exploration and development of the Ivana Uranium-Vanadium Deposit, located in Argentina's Rio Negro Province, a region rich in mineral resources and growth potential.

As per the details of the agreement signed on February 27, 2025, Blue Sky Uranium and its subsidiaries have bestowed upon COAM the exclusive rights to potentially acquire an entry into the project, aiming for up to an 80% indirect interest in the Ivana deposit. The terms stipulate that COAM can secure a 49.9% equity interest by investing US$35 million within the first three years of the project – referred to as the PE Earn-In Period.

Upon the successful completion of a feasibility study, COAM then holds the opportunity to expand to an 80% ownership by funding further expenses with a cap of US$160 million to push the project into commercial production. This structured approach not only promises to bring financial support for the project’s development but also ensures strategic backing from a well-established entity like COAM that has extensive experience in the energy sector.

The initial progress of this joint venture commenced with COAM contributing an initial amount of US$650,000 and a Corporate Guarantee valued at US$2,350,000, amounting to a total of US$3 million which aligns with their first-year commitment. Such investments underscore the growing interest in the Ivana project and signify trust in Blue Sky’s potential to deliver a successful mineral venture.

Nikolaos Cacos, President and CEO of Blue Sky, expressed optimism about this partnership, emphasizing the strategic advantages it affords the company. “This agreement not only secures our 20% stake in the joint venture but also allows us the possibility to preserve value through anti-dilution measures as the project develops,” he noted. Cacos added that the venture also includes a call-option agreement enabling further resource exploration in adjoining properties.

To effectively manage this new endeavor, a technical committee has been established, marking the commencement of accelerated activities aimed at evaluating and optimizing the resource potential of the Ivana property.

Further encapsulating the financial clarity surrounding this agreement, Blue Sky has secured advisory services through firms like ACP Capital Markets LLC and Southern Cone Partners. These advisory roles will oversee upcoming financial operations and enhance the overall governance of the joint venture. Each firm has structured an advisory fee model to ensure continued guidance throughout the transaction period.

In a broader perspective, Blue Sky Uranium aims to redefine its operations and extend its market influence by securing leading positions in uranium exploration and production. The overarching goal is to deliver excellent returns to shareholders while fostering responsible mining practices that respect local communities and the environment.

COAM, belonging to the Corporación América Group, stands as an influential player within the energy sector, highlighting stringent advancements in numerous industries such as infrastructure and agribusiness. Its involvement in this project may not only amplify the operational capabilities of Blue Sky but also cement lasting improvements within the region’s resource management ecosystem.

As the partnership progresses, both parties are poised to experience mutual benefits from their shared pursuit of unlocking the potential of Argentina’s vast uranium resources, with the potential for increased investments and resource discoveries spearheaded by Blue Sky and its stable partnership with COAM.

Through consistent financial and strategic collaboration, this venture sets a promising trajectory for uranium mining in Argentina, bringing together the expertise of global energy stakeholders and local resource developers in a joint mission towards sustainable mineral extraction.