In short: Acquisition closed "in the last month" for $1.1bn: the former Union Pacific land grant, "5.3 million acres" of surface and mineral rights "from Cheyenne all the way to Salt Lake City," with "five of the world's lowest cost and largest soda ash mines." EBITDA "around 75 million with the likely potential to increase that two and a half times in the coming years."
12:29But as we hold that land today, 5.3 million acres, we own the surface rights and all the mineral rights from Cheyenne all the way to Salt Lake City. We have five of the world's lowest cost and largest soda ash mines. Trona soda ash is a key ingredient in glass, container glass, flat glass, but more importantly, it's a near-term robust generator of cash flow.
In short: The $1.1 bn acquisition closing this month: ~800,000 acres of surface rights plus mineral rights across oil and gas, uranium, critical minerals, trona and soda ash, generating ~$74m EBITDA and $30–50m free cash flow annually. Melbye's framing is that it funds the uranium franchise rather than replacing it.
19:18This is Uranium Royalty acquiring what was the historic Union Pacific land grant that the US government gave to Union Pacific Railroad to build the Intercontinental Railway back in 1860. And with that land becomes all the mineral rights and surface rights. So, in this transaction, we would become the second largest public company land owner in the United States, largest in Wyoming, 800,000 acres of surface rights, and the rest basically mineral rights.
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