Creasy acquires major U3O8 stake

Notable gold prospector Mark Creasy has spent $200,000 acquiring a major interest in West Perth-based uranium explorer U3O8.

In a notice to the Australian Securities Exchange today, Mr Creasy, through his private investment company Yandal Investments, acquired a 6.13 per cent stake, paying around 3.8 cents for each U3O8 share.

Shares in U3O8 closed up 1.5 cents to 16.5 cents today.

U3O8 recently undertook a one-for-four rights issue with each new share priced at 10 cents each to raise $2.1 million.

The issue was fully underwritten by Giralia Resources, which Mr Creasy holds a stake in.

U3O8 also raised a further $1 million through a share placement.