Thursday, April 28, 2011

Gold One Limited To Acquire Rand Uranium For $US250m

Published on Thursday April 28 2011 (AEST)-Australia

ASX Listed Gold One International Ltd (GDO)will buy Rand Uranium Ltd for $US250 Million ($A230.7 million) in cash to get the South African miner's Gold and Uranium reserves.

Rand Uranium will bring its 150,000 ounces of annual gold production and gold resources of about 13.5 million ounces.
The annual production figure would take Gold One's yearly total to 300,000 ounces.

Rand Uranium also has a Uranium mineral resource base of about 90 million pounds, Sydney-based Gold One said in a statement on Thursday.

Gold One said the takeover would allow the company to consider gold and uranium co-production, which could significantly reduce the cash cost per ounce of gold production.

A feasibility study on the uranium potential was 70 per cent complete.

'The Rand Uranium operations represent one of the few established shallow gold producing operations in South Africa,' Gold One chief executive Neal Froneman said.

The joint owners of Rand Uranium - Pamodzi Uranium, Pamodzi Cooke and Armgold/Harmony Joint Investment Company - had accepted Gold One's offer.

Gold One said it secured a $US210 million underwritten facility to fund part of the takeover.

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Friday, April 22, 2011

James Kenny of Frontier Rare Earths Discusses REE Valuation

Published on Friday April 22 2011 (AEST)-Australia

James Kenny, Director and CEO for Frontier Rare Earths Limited (TSX: FRO)
(TSX: FRO.WT), a mineral exploration and development exclusively focused on the development of rare earths projects in Southern Africa, discusses the challenges innate in placing effective market valuations on REE resource companies.

Discussing the 43-101 process, coining 'The Big 5' (Neodymium, Praseodymium, Europium, Terbium, and Dysprosium) he makes a case for why investors need to pay particular attention to the Company's Project, Size of the Resource, Capital Expenditure and of course, the Metallurgy/Minerology.

Frontier's flagship asset is the Zandkopsdrift rare earth project, which is located in the Northern Cape Province of South Africa and is one of the largest undeveloped, advanced rare earth deposits worldwide. 

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Monday, April 18, 2011

Peninsula Energy Gains Key Permit For Lance Uranium Site In Wyoming

Published on Saturday April 16 2011 (AEST)-Australia

The Wyoming Department of Environmental Quality on Wednesday April 12 2011, granted the permit to Strata Energy Inc., a wholly owned subsidiary of Peninsula Energy Ltd., for its Lance project.

The deep disposal well license, the first of the three main licenses needed by the company to start mining, allows Peninsula to construct and test five in-situ recovery wells at the project site, located near Oshoto in Crook county.

In in-situ recovering mining, a solution of water and sodium bicarbonate is pumped underground to dissolve uranium ore into the solution, which is then brought to the surface by production wells.
The uranium is then "dried" to produce U308, sometimes known as yellowcake because of its color and consistency.

"The grant of the DDW permits is the major milestone we need to achieve in the permitting process and another important step toward the company commencing mineral extraction operations at Lance."

The company stated the DDWs "will be used to inject low-level wastes into an isolated rock formation at a depth in excess of 8,000 feet below the surface."

Peninsula expects these to meet the water management requirement of an ISR operation at the Ross Project.

The permit was issued after a review by both the WDEQ and United States Environmental Protection Agency (USEPA) as well as a public notification and comment period, and is the culmination of 30 months of detailed environmental, geological, hydrological data gathering and analysis by the company.

Peninsula is now waiting on the review and grant of its Source Material Licence and it’s Permit to Mine applications lodged with the NRC and WDEQ on 31 December 2010 and 13 January 2011 respectively.

On March 25 Peninsula intersected more high grade uranium from drilling at its Lance uranium project, which will add to Inferred Resources at the next Resource upgrade.

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Friday, April 15, 2011

Paladin Achieves Record Uranium Sales For March 2011 Quarter

Published on Friday April 15 2011 (AEST)-Australia

Paladin Energy Has Reported Record Uranium Sales For The Quarter Ended March, Despite a 4% Decrease In Production Figures.

During the three months to March, Paladin sold around 1,4-million pounds of uranium oxide (U3O8), generating a record revenue of $92,5-million.

Overall production for the quarter also reached around 1,4-million pounds, which was a 4% decrease on the 1,46-million pounds of U3O8 produced in the December quarter, but an increase on the 1,1-million pounds of U3O8 produced in the previous corresponding quarter.

The Kayelekera mine, in Malawi, hit record production during the quarter, with a step-change in plant performance achieved during the quarter, Paladin reported.

The uranium miner told shareholders that the project had produced 606 034 lb of U3O8 during the quarter under review, which was a 14% increase on the previous quarter.

Production during the month of March at the Kayelekera operation reached 93% of the plant capacity, with the operation producing some 253 036 lb of U3O8.

The Langer Heinrich operation, in Namibia, however, saw a 14% decrease in production, owing to abnormal rainfall in the three months to March, particularly during the latter part of the quarter.

Paladin noted that this had restricted access to higher-grade mining areas and increased the difficulty in treating wet ore. As a consequence, the Langer Heinrich operation only produced 795 815 lb of U3O8 during the period, compared with a nameplate 925 000 lb.

Meanwhile, Paladin reported that the Langer Heinrich stage three expansion project was progressing, and has entered the commissioning phase. The stage three expansion would see the operation increase its current capacity to around 5,2-million tons a year.

The uranium miner said on Friday that the front-end feed preparation, crushing and scrubbing circuit was on track for production ramp-up during April, while the increased throughput capacity and scrubbing efficiency at the front-end was expected to quickly add to the production capacity of the processing plant.

The stage three expansion was currently 92% complete.

Paladin also reported that the stage four feasibility study, which was targeting a combined 8,7-million tons a year production level, remained on schedule for completion during the December quarter.

The environmental impact assessment documentation was nearly ready for final submission and work on the process design of the new plant has advanced significantly.

A new mining design and production schedule has also been completed and a conceptual design for the tailings deposit was being reviewed.

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FUKUSHIMA - Pure Politics France- v -America

Published on Friday April 15 2011 (AEST)-Australia

Friday April 15 2011 
Nicholas Smith, an independent strategist, 
says Japan's move to upgrade the nuclear disaster
was a diplomatic move and does not reflect the situation on the ground.

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Tuesday, April 12, 2011

Northern Minerals HREE Rare Earth Projects

Published on Tuesday April 12 2011 (AEST)-Australia

Northern Minerals has Announced the appointment of Mr Dudley Kingsnorth as a non executive director.

Mr Kingsnorth is an International leader in Rare Earth Elements with more than 20 years experience in the development, evaluation and marketing of Rare Earth Projects.

He has been consulting to Northern Minerals on the development of its REE projects in northern Australia for the past 12 months and a contract covering these specialist services continues until the end of November 2012. Mr Kingsnorth’s REE experience includes managing director of IMCOA and editor for the last three Roskill REE Reports.

Here's a Comparison between NTU's 
Browns Range HREE composition to John Galt and Current related pricing.

Big Five? Rare Earths: 
Neodymium, Praseodymium, Europium, Terbium, and Dysprosium.?

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