Strathmore Minerals (TSE:STM)(OTCQX:STHJF) is best known for its substantial uranium resources but a recent deal will see the company bringing its expertise to bear in the gold-copper space.

Strathmore Minerals (TSE:STM)(OTCQX:STHJF) shares rallied more than 10 percent Wednesday, after it said it inked a definitive deal for an US$8 million private placement financing with Korea Electric Power Corp (KEPCO) late yesterday, with the potential for up to a US$40 million joint venture.

After completing the share subscription agreement, KEPCO will pay Strathmore US $10 million - $2 million as a project development allowance for the Gas Hills project, and $8 million as a subscription for new common share

The Roca Honda Uranium Project is a joint venture between Strathmore (60%) and Sumitomo (40%), located in McKinley County, in the Grants Mineral Belt of North West New Mexico.

Despite the current weak uranium market, Strathmore has reached a number of corporate milestones by focusing on its long-term development strategy.

A recent resource upgrade highlighted the world-class potential of Elemental Minerals’ Kola potash deposit, which is part of its Sintoukola property in the Republic of Congo. The company has deliberately remained below the radar, allowing the project to speak for itself. The latest results promise to lift the veil of anonymity.

Toronto's main market was back in the red Wednesday, on slumping commodities and skepticism that EU leaders will be able to devise a plan in the day’s meetings regarding the region's debt crisis.

EurOmax Resources' (CVE:EOX)(OTCQX:EOXFF) share consolidation is the first step in a process that will transform the junior explorer into a London-based exploration and development company.

Silver Bull Resources (TSE:SVB)(AMEX:SVBL) Tuesday said a new NI 43-101 report currently being completed will show a 39 per cent increase in the open pittable resources at the Shallow Silver Zone at its Sierra Mojada project in Mexico.

Geomega Resources (CVE:GMA) unveiled Thursday preliminary metallurgical results from its Montviel rare earths-niobium project near Level-sur-Quévillon, Québec, with recoveries as high as 97% total rare earth oxides (TREO).