Presently, ARMZ is prospecting uranium in Canada. The company has set up two JVs with Cameco: Northern Basins Uranium Ltd. (NBUL) and Karhu Geology LLC. NBUL is already prospecting uranium, while Karhu is expecting to receive the permit this year. This year ARMZ is planning to set up a JV with Mongolia and is expecting the signing of a Russian-Mongolian inter-governmental agreement on the protection of investments. ARMZ is also prospecting uranium in Armenia. Until recently the company has operated only in Russia and Kazakhstan.
