Australian Uranium Investing

2012 Uranium Industry Update

2012-01-21T14:55:00.000+10:00

Published on Saturday January 21 2012 (AEST)

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

Stealth Uranium Bull Market Begins In 2012

2012-01-20T07:53:00.000+10:00

Published on Friday January 20 2012 (AEST)

China's buying spree begins a stealth

Uranium Bull Market

"Smart" money flooding back to the sector?

China just went on a resource-buying spree of massive proportions.

I'm not talking about oil, natural gas, gold, copper, silver, or grain.

I'm talking about one of the world's most hated resources right now: uranium.

This time last year, nuclear energy was in the midst of a renaissance. Advocates were hailing it as a cheap, carbon-free source of energy. The entire sector soared.

Shares of major uranium miner Cameco doubled from June 2010 to February 2011. Uranium juniors like UEX Corp. performed even better. UEX's shares rose 298% from May 2010 to February 2011.

But in March 2011, an earthquake and tsunami struck Japan. They destroyed several nuclear reactors at the Fukushima Daiichi power complex. The resulting contamination was the second-worst nuclear disaster since Chernobyl.

Countries all over the world, including Germany and Japan, vowed to halt nuclear power production... Uranium mining and nuclear power became pariahs. The price of uranium fell about 45% from peak to trough. The sector wasn't just down... it was truly despised.

Here's the thing: China – one of the world's most important resource consumers – faces a severe shortage of electric power. It already consumes a huge amount of coal and natural gas to generate electric power. But it needs fuel from every source it can get, including uranium. It doesn't have the luxury of hysterical overreaction like Germany has.

And it's still scouring the earth for uranium.

Two Chinese national companies, China Guangdong Nuclear Power Holding Company and Hanlong Mining Investment, are trying to buy giant uranium deposits in Africa.

China Guangdong appears that it will succeed in buying Kalahari Minerals and Extract Resources, which co-own the fourth-largest uranium deposit in the world.

And Hanlong Mining Investment made a cash offer to take over Bannerman Resources in October 2011. The target of the deal is Bannerman's Etango project in Namibia. Etango is another of the world's largest undeveloped uranium deposits. The conditional offer was $144 million. Bannerman, which has a market value of around $62 million, turned it down.

These deals, along with a recent bidding war between Cameco and mining giant Rio Tinto, will "put a bid" beneath the world's best uranium deposits.

And that's not all the good news for the sector. Ten months after the Fukushima disaster, it looks like uranium prices might have finally bottomed.

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

Uranium Markets Go Bullish Into 2012-2013 Post Fukushima

2012-01-13T06:40:00.003+10:00

Published on Friday January 13 2012 (AEST)

Rapidly growing economies such as China and India are most focused on Nuclear Energy, as their need for electricity grows, Adnani said.

Supply of uranium to the world market has been supplemented with secondary sources of uranium, such as decommissioned Cold War nuclear warheads from Russia and the US, since the collapse of the Soviet Union, but this source is set to expire in 2013.

“That will be a real pinch in supply. The diminishing secondary supplies really drive supply and demand,” Adnani said.

There are around 60 reactors under construction around the world at the moment, with up to 300 planned over the next decade. At the moment, there are around 430 in total.

There is still a huge need for more electricity. Close to 20 percent of the world’s population – around 1.3 billion people - had no access to electricity in 2009, according to the International Energy Agency.

There has also been plenty of consolidation in the industry recently, as bigger players such as Rio Tinto, which completed the acquisition of Canadian uranium junior Hathor Exploration in January, looked for a presence in the nuclear space.

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

ENERGY Resources of Australia Negotiating A New Uranium Mining Deal

2012-01-05T10:34:00.001+10:00

Published on Thursday January 05 2012 (AEST)

ENERGY Resources of Australia is negotiating a new uranium mining deal with traditional owners in Kakadu National Park, and has $80 million worth of tenders up for grabs for work at the Ranger site.

ERA chief executive Rob Atkinson said the new uranium discovery at Ranger 3 Deeps, next to the existing Ranger pit, was one of the biggest recent finds in the world.

"A lot of deposits were found in the last 30 years but this was only discovered in 2008," he said.

There is an estimated 34,000 tonnes of uranium in the resource with an expected purity level of 0.34 per cent.

That makes it twice as big as the estimated billion-dollar, 14,000 tonne Angela and Pamela deposit, 25km south of Alice Springs, which has less than half the ore purity at 0.13 per cent.

ERA has all permissions and approvals in place to build a $120 million exploratory tunnel and drill tests to accurately measure the size of the find.

Work will start on the exploration incline in May, and the company has $80 million worth of tenders out for the work, particularly for underground mining contractors experienced in building tunnels.

"It's open to NT contractors but we are also considering interstate tenders," Mr Atkinson said.

He warned it would be tough to win, because ERA rejects contractors that other mines hire if they don't have enough experience.

"We want highly skilled, experienced operators," he said.

Workers will need to dig a 2000m tunnel about 450m beneath the surface, next to or within the existing Ranger Pit 3.

Mr Atkinson said the project would create about 100 jobs and would take about two and a half years to build. Without the new project, Ranger will run out of uranium to mine later this year.

But Mr Atkinson said the resource would not be mined unless traditional owners supported the project.

"We are in negotiations for a new mining agreement with the Mirarr," he said. While talks have been on for years, Mr Atkinson said they had picked up speed. "We're hopeful for it to be concluded in the next few months," he said.

"It's in both our interests to conclude as soon as possible so any improvements in the agreement can flow on to Aboriginal people. "I want the agreement done and dusted - it's important in any relationship to know where you stand."

Analyst firm UBS recently put a "sell" rating on the uranium miner on fears that higher-than-average rain could delay the Ranger 3 Deeps project.

UBS has valued ERA at $2.87 per share if Ranger 3 Deeps goes ahead but only 67c per share if it doesn't.

The miner was trading around the $1.22 mark last week, having risen on optimism after it escaped any flooding caused by Cyclone Grant.

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

Peninsula Energy On The Road To Uranium Production

2011-12-29T14:54:00.000+10:00

Published on Thursday December 29 2011

Peninsula Energy (ASX:PEN) has completed feasibility and economic studies of its Ross and Lance uranium projects in Wyoming and the results should enable Peninsular to gain project funding and become a uranium producer in 2013.

While some investors may be gun shy of uranium, a number of analysts are predicting that uranium prices could climb in 2012/13 due to delays in new supplies coming online and Russia's plans to stop exporting enriched uranium next year from its secondary supplies.

In addition, uranium industry company UxC compiled a report on the uranium market for the period 2013-2030. In part it said:

“Following the Fukushima accident, there still remains a deficit of supply from the perspective that current production levels are insufficient to meet required future demand given the expected continued growth of nuclear power and the decline in inventory supplies such as HEU that have recently been supplying the market.

"Given the need for increased production, the midpoint of our composite spot price forecast in-creases from $60 in 2013 to $83 in 2025."

Study Results

The Ross Definitive Feasibility Study (DFS) and the Lance Expanded Economic Study (EES) have confirmed the technical and economic viability of the Lance in-situ recovery (ISR) uranium projects in the Powder River Basin Wyoming, USA.

- Ross Definitive Feasibility Study (DFS) NPV US$46 million

- Lance Expanded Economic Study (EES) NPV US$207 million with an initial capital requirement of US$79 million including the capital cost of the Central Processing Plant (CPP)

The Lance projects (EES) included three production units planned at Ross, Kendrick and Barber deposits.

The DFS has been completed by Lyntek Inc. (Denver based engineers) on the June 2011 measured and indicated resources of 8.8 million pounds of uranium at the Ross production unit only and has established the operating costs, well-field parameters and development costs which in the EES are applied to all three production units.

Rockbury Capital FZ LLC and the Company have then applied these parameters to the EES which includes a total 23.3 million pounds of U3O8. This number assumes the conversion of a 12.1 million pounds of the 30.1 million pounds of inferred U3O8 resources that are currently delineated at the Lance projects to indicated category or better.

The EES anticipates the expanded project including Ross, Kendrick and Barber production units feeding a Central Processing Plant (CPP) with an expandable capacity of up to 3.0 million pounds per annum. The CPP evaluation was included in the Lyntek Scope of Work and as such is to a DFS level of accuracy.

In the EES the first production unit will be at Ross with a capacity of 750,000 pounds per annum and production ramping up over 3 years to 2.19 million pounds per annum steady-state production with the inclusion of the Kendrick and Barber production units.

Costs

All important steady state total production cost was estimated at US$31.55 per pound U3O8 including indirect taxes, royalties and ongoing well-field development (C1 cash costs of US$11.93 per pound).

Mining

In situ mining (ISR) is a form of solution mining where uranium is removed from sandstone formations by the same chemical process that deposited it there in the first place. Currently the in-situ process is the single largest producer of U3O8 globally accounting for approximately 41% of all primary production.

ISR mining and processing of uranium consists of two steps: recovering uranium from the mineralised sandstone host via the cycling of recovery solutions through it and the processing of this uranium-rich solution into yellowcake.

Infrastructure

The Lance projects are located in north-eastern Wyoming, about 32 kilometres north of Moorcroft and adjacent to the ranching community of Oshoto. Moorcroft lies adjacent to the I-90 Interstate highway. From the Interstate turn off there is approximately eight kilometres of paved road followed by approximately 48 kilometres of graded roads.

Within the project areas, existing land uses include: livestock grazing, oil production, fodder crop production, communication, power lines and a road transportation network.

Infrastructure within the project area includes roads, utilities, oil wells and activities associated with agriculture (including livestock and hay production). There are several maintained roads and three power lines that pass through the project area.

Revenues

Sales of U3O8 are predominantly contracted on a long term basis with prices determined by a pre-set formulae linked to the reported term and/or spot prices. In the DFS, Lyntek has used a price forecast of US$63.31-79.50 per pound for the 2013-2022 period of operations.

For EES modelling purposes the Company has adopted a price forecast based on a UX Consulting Inc. (UxC) independent report on the long term uranium market for the period 2013-2030. The EES assumes U3O8 production is sold at a contract price of US$62.58 per pound, 2011 base escalated at an average 2.6% per annum.

Permitting

Following a recent review of the permitting strategy the company "is confident in finalising permitting." In addition all new project areas are being designed so they are contiguous with the Ross permit area and as such will be deemed to be amendments to the Ross Permit (once issued) rather than standalone applications. This strategy will significantly reduce the permitting process and timing going forward.

Project funding

The Company is well advanced in structuring and implementing the funding plan for the development of the operation.

It is anticipated that funding will be sourced from a combination of debt and equity.

Rockbury Capital FZ LLC and Boswell Capital Corporation have signed Non Disclosure Agreements with several international banking and uranium industry groups. These groups are currently reviewing the Company’s electronic data room with a view to proposing a financing arrangement, or part thereof. In several cases this will be combined with U3O8 sale and purchase arrangements.

Moving ahead

The Lance ISR uranium projects are ready to be progressed to development stage following relevant permitting and project funding factors which are all well advanced.

Total construction time is estimated at six months and first commercial U3O8 production remains on track for late 2012 (subject to permitting), ramping up over 2013.

This timeline to first commercial U3O8 production is subject to final Board approval which is expected before March 2012.

The company is now working towards detailed design and engineering and to awarding an EPCM contract for the projects ahead and the commencement of site preparation works. In addition, the Company is assembling a highly experienced team to successfully transition from explorer to producer and have the financial capacity to fast track the project implementation where possible.

Analysis

The outcomes of the feasibility study and economic studies of Peninsula's Wyoming uranium projects indicate viable uranium projects with a sufficient margin and buffer over costs of production. Capital costs are also reasonable given the significant scale and production levels envisaged in the studies. This should combine to ensure that project funding is available given the high quality of the projects.

Given the production timeline of the projects should coincide nicely with lower market supplies of uranium in 2013 and beyond.

Long term contract prices offer a higher revenue potential for Peninsula. While it has been a tough road for uranium companies post Fukushima, there are very few listed companies with advanced stage uranium projects that can propel a company from explorer to producer within 12-18 months.

Peninsula Energy provides a compelling uranium counter for longer term investors, with $23 million in cash, trading a significant discount to intrinsic value and longer term valuation with a number of catalysts for re-rating ahead.

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

Black Range Minerals Ltd. : Appointment of New Managing Director

2011-12-22T20:58:00.001+10:00

Published on Thursday December 22 2011

APPOINTMENT OF NEW MANAGING DIRECTOR

Black Range Minerals Limited ("the Company") is very pleased to announce the appointment of Mr. Tony Simpson to the Company's Board of Directors. Mr. Simpson will immediately assume the position of Managing Director.

Mr. Simpson is a mining engineer with over 40 years industry experience. During his career he has held numerous senior management, technical and operational positions.

For the past two years Mr. Simpson was employed by ASX-listed Peninsula Energy Limited as its Chief Operating Officer. In this position he was directly responsible for the successful exploration and permitting activities at Peninsula's Lance Uranium Project in Wyoming, USA.

The Company believes that the experience and knowledge Mr. Simpson gleaned while working on the Lance Uranium Project will be of considerable benefit to the Company as it takes its Hansen/Taylor Ranch Uranium Project in Colorado, USA, through feasibility studies and mine permitting.

The Company's previous Managing Director, Mike Haynes, will continue to serve on the Company's Board as a Non-executive Director. The Company is very pleased to welcome Mr. Simpson to the Board.

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

North Korea Agrees To Suspend Uranium Enrichment

2011-12-18T11:11:00.001+10:00

Published on Sunday December 18 2011

SEOUL — North Korea has agreed to suspend its enriched-uranium nuclear weapons program, a key United States demand for the resumption of disarmament talks, according to news reports.

Yonhap news agency and the Chosun Ilbo daily quoted an unidentified diplomatic source saying the Washington had also agreed to provide the North with up to 240,000 tonnes of food aid.

Pyongyang pledged "to implement initial measures of denuclearisation that include a suspension of its uranium enrichment program," Yonhap said.

The North apparently agreed to put stricter and clearer monitoring systems in place to ensure that the food aid reached those most in need, according to the source, Yonhap said.

The agreements came when Robert King, US special envoy for North Korean human rights, met with Ri Gun, head of North American affairs at North Korea's foreign ministry, on Thursday and Friday in Beijing, the source said.

The reports could not be independently confirmed.

Suspending the uranium enrichment programme -- first disclosed by the North one year ago -- is a key demand of Washington's before six-party negotiations can resume.

The North quit the six-party forum -- which also includes China, Russia, Japan and South Korea -- in April 2009, one month before its second nuclear test.

Pyongyang has long said it wanted the six-nation talks to re-start, but without preconditions.

But the United States says the North must first show "seriousness of purpose" by shutting down the enrichment programme.

According to both Yonhap and Chosun Ilbo, the two countries were likely to hold a third round of talks this coming week in Beijing to discuss resuming the six-party talks.

Glyn Davies, the US special representative on North Korea, will likely meet with North Korean First Vice Foreign Minister Kim Kye-Gwan in Beijing around Thursday, the source said.

North Korea was promised 500,000 tonnes of food aid from the United States when it dismantled part of its nuclear facilities in Yongbyon in 2008.

It had received 170,000 tonnes by the time the aid was suspended in 2009 as tensions worsened over the North's nuclear programs.

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

Bannerman Resources Pushes On With Capital Raising

2011-12-14T11:50:00.000+10:00

Published on Wednesday December 14 2011

URANIUM aspirant Bannerman Resources is not waiting for its troubled Chinese suitors to get their house in order, and will push ahead with a capital raising to help fund work on its flagship project in Namibia.

Bannerman went into a trading halt yesterday and is expected to emerge in the next 48 hours with plans to raise up to $15 million.

Bannerman was forced to walk away from takeover talks with Chinese investor Sichuan Hanlong Group after Hanlong could not guarantee funding arrangements from Chinese banks.

Hanlong's push into Australia's resources sector has been hampered by an insider trading investigation involving key executives, including managing director Steven Hui Xiao.

His wife, Xike Hu, yesterday agreed to a travel ban (until March) demanded by the Australian Securities and Investments Commission.

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

U.S. Nuclear Plants Will Favor Domestic U.S, Mine Supplies

2011-12-03T09:22:00.000+10:00

Published on Saturday December 03 2011

Regulatory approvals in the U.S. regarding new and expanding uranium mines have come under the microscope at London financial analysts Libertas Partners. This follows the recent comment from Cameco (TSX:CCJ) that its subsidiary, Power Resources, has faced frustrations from the regulatory processes in Wyoming. They have been trying to bring into production new wellfields into production at the Smith Ranch-Highland mine.

Libertas has gone on to look at other companies operating within the U.S. and how they are affected by the American regulators. Even though the prospects for uranium post-Fukushima are poor, the report says, the demand outlook within the U.S. remains good due to the highly enriched uranium agreement is set to expire in 2013. This was the deal that allows recycling of Russian military stockpiles of uranium which now account for 13 per cent of world supply and, more importantly, 45 per cent of annual U.S. requirements.

Libertas notes that the Russians are looking to extend these contracts - hence the acquisitions of Uranium One and, through that former Canadian-owned company, the Australian uranium company Mantra Resources (whose project is in Tanzania). But because of security-of-supply concerns, the report says U.S. nuclear utilities are keen to secure greater domestic supplies.

In general, the new U.S. projects are modest in size. Production is generally below 1 million pounds a year, in-situ leaching costs are about $20/lb (against this week’s $US52.25/lb spot uranium price) while for underground mines it comes out at about $30/lb. The companies are:

Vane Minerals (AIM:VML) - operating in Utah and Arizona, began their mining lease application process in mid-2010.

Bayswater Uranium (TSX.V:BYU) - in application process in Wyoming, hopes to get into production in 2015.

Black Range Minerals (ASX:BLR) - this Australian company is aggressively advancing feasibility studies and mine permitting activities at its Colorado Taylor Ranch/Hansen Uranium Project. Combined, the Taylor Ranch and Hansen uranium projects are one of the largest within the United States, with 90 million pounds of U3O8.

Titan Uranium (TSX.V:TUE) - has several advanced projects, especially Sheep Mountain in Wyoming. Has just agreed to merge with Energy Fuels (TSX:EFR) which plans to build a uranium-vanadium mill in Colorado. Approvals could be finalised in March.

Peninsula Energy (ASX:PEN) - this Australian company is going through permitting process for the Ross/Lance in-situ leaching project in Wyoming. Air quality permit received. Production target unclear.

Strathmore Minerals (TSX:STM) - partner with Sumitomo in Roco Honda underground project in New Mexico. Environmental Impact Statement scheduled for completion in December 2012, with a decision on mine permit shortly thereafter.

Uranerz Energy (TSX:URZ) - first production planned for late 2012 with all Federal and Wyoming permits in place.

Uranium Energy (NYSE:UEC) - has just begun production at the Palangana in-situ leach mine in Texas

Uranium Resources (Nasdaq:URRE) - two fully licensed facilities in Texas while New Mexico ISL mine due to produce in June quarter, 2013.

Ur Energy (TSX:URE) - five years into the regulatory process in Wyoming, this company now awaits only one final approval. State mining permit in place. First production expected in June quarter, 2013.

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

Toro Energy Seeks Partners For $280m WA Uranium Mine

2011-12-01T07:39:00.000+10:00

Published on Thursday December 01 2011

TORO Energy will consider all project funding options as it moves towards developing Western Australia's first uranium mine.

"In Australia there are four operating uranium mines," Toro Energy managing director Greg Hall said.

"Going forward, we are the lead company. We're on a path, subject to WA and federal approvals, that means we will be the next uranium mine."

Mr Hall told the company's annual general meeting in Adelaide yesterday Toro estimated it will cost about $280 million to build the mine at Wiluna in south-central WA.

The Norwood company intends to lodge its final Environmental Review and Management Program for Wiluna with the WA Government this month and anticipates government approvals by mid-2012, leading to commissioning in 2013.

Toro was looking for options to fund Wiluna, which would produce about 820 tonnes a year of uranium.

"We have been searching, and discussing, with potential cornerstone investors and joint venture partners," he said. " ... we're looking at potential methods of financing the project.

"In the current climate, the most likely method will be a joint venture partner who takes part-ownership in return for both funding and offtake of uranium. While we're marketing uranium directly to nuclear utilities to put in place contracts that'll give us good returns, we're also keeping aside a portion of offtake for those tentative joint venture discussions."

Chairman Erica Smyth said the company was proceeding very cautiously.

"We will need the stars to align, but we believe they will," she said.

"We're looking at all the options to finance this." Both Dr Smyth and Mr Hall said the industry had been dealt a severe blow by the Fukushima disaster.

Nonetheless, sentiment had bounced back far more quickly than the post-Chernobyl era.

"Due to the immediate precautionary 20km evacuation zone, the International Atomic Energy Agency preliminary summary is that `to date no health effects have been reported in any person as a result of radiation exposure from the nuclear accident'," Dr Smyth said. "(And) it is now believed that no member of the pub- lic was exposed to any harmful levels of radiation."

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

Namibia Clears Extract To Construct Husab Uranium Mine

2011-11-30T20:10:00.000+10:00

Published on Wednesday November 30 2011

Extract Resources has won a licence to develop its Husab uranium mine in Namibia, which could help push up the price a Chinese suitor may offer for the $2 billion Australia-based company in a widely expected buyout bid.

State-owned China Guangdong Nuclear Power Corp (CGNPC) is in talks to take over Extract's 43 percent shareholder, Kalahari Minerals, with Husab, the world's fourth-largest uranium deposit, seen as the key target.

Extract said on Wednesday it had accepted the terms that Namibia's Ministry of Mines and Energy had set for granting a licence for Husab, and the ministry would direct the mining commissioner to issue a licence for the project.

"This marks the final step to achieving all of the permits that we need in order to begin the development of the Husab Uranium Project," Extract Chief Executive Jonathan Leslie said in a statement.

He said talks with financiers and potential strategic partners to help raise the $2 billion needed for the project were progressing.

Extract has been in talks with global miner Rio Tinto to link development of Husab with Rio's neighbouring Rossing uranium mine. Rio Tinto owns an 11 percent stake in Kalahari and a 14 percent stake in Extract.

CGNPC, which first approached Kalahari in March just before Japan's Fukushima disaster, has until December 8 to decide whether to go ahead with a bid for Kalahari or be forced to wait a further six months before it can come back with another offer.

Under Australian rules, CGNPC would be required to follow up with an offer for Extract once it owns more than 20 percent of the company, unless the securities regulator grants an exception.

CGNPC's intentions on Extract became clearer on Tuesday, when both Extract and Kalahari said CGNPC was talking to Namibia's state-owned Epangelo Mining Co about buying a 10 percent stake in Husab.

The only way Epangelo could buy a 10 percent stake in the project from CGNPC would be if CGNPC owned a controlling interest in Husab, which is 100 percent-owned by Extract.

Extract shares rose 1.5 percent to A$8.07 in early trade on Wednesday in a weaker broader market.

Four analysts have estimated that based on the 243.55 pence per share offer that CGNPC is discussing for Kalahari, Extract would be worth between A$8.75 and A$9.00 a share.

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

Lynas Corporation Aiming For Operating Licence

2011-11-19T14:31:00.000+10:00

Published on Saturday November 19 2011

Although there were rumours that Lynas would be granted the pre-operating licence this week, the Atomic Energy Licensing Board (AELB) has yet to announce this.

Firm is ready to operate and eager to prove critics wrong, says managing director

Lynas senior manager (engineering services) Wee Tiat Eng showing the monitor of the airborne monitoring system which detects the radiation level at the plant in Gebeng. - Luqman Hakim Zubir

Lynas Corporation is hoping to get its pre-operating licence soon to prove that its plant in Gebeng is safe and not hazardous to the environment.

Lynas Malaysia Sdn Bhd managing director Datuk Mashal Ahmad said this was the company's immediate concern as the licence would also prove that other allegations against the Lynas Advanced Materials Plant (LAMP) were baseless.

"The sooner we get the licence, the faster we can do this. If we cannot prove that our operations are safe, the plant will be shut down," he said at a special briefing and visit to LAMP yesterday.

Present were Lynas Malaysia senior manager (technical services) Robin Zhang from China, and its radiological safety adviser Professor Dr Ismail Bahari of Universiti Kebangsaan Malaysia.

Mashal said the first phase of the rare earth processing facility, costing about RM1.3 billion, was expected to operate in January.

"We have fulfilled all the requirements by the international and local agencies, and it will take about a month to bring in the raw material from Australia."

The two-year licence will allow the company to import and process raw material. The authorities will only grant an operating licence if they are satisfied that Lynas had fulfilled all the requirements and met the international standards.

On the continuous protests by anti-Lynas groups, Mashal said it was unfortunate the public was still being fed with misleading information by those who claimed to be experts.

He stressed that the raw material for the plant, which is rare earth concentrate from Mount Weld in Western Australia, had very low levels of radiation and the facility would treat the waste water and gas emission before releasing them into the environment.

"We are willing to engage in talks with any party if they are sincere in wanting to understand our operations. If need be, we can arrange for a visit to our plant," said Mashal.

The media was later brought to the AELB office at the LAMP compound, where a RM1.4 million airborne monitoring system was installed to gauge the radiation level in the area.

A similar device will be installed at the district police headquarters here and the public can read the radiation level on the monitors set up at various locations around here.

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

IEA URANIUM REPORT NOVEMBER 2011

2011-11-11T14:26:00.003+10:00

Published on Friday November 11 2011

Versant Partners reported the International Energy Agency (“IEA”) has said nuclear energy remains the only viable solution to meet the global energy needs.

As quoted in the market news:

In a report released Wednesday, November 09 2011 the IEA outlined that global nuclear generation capacity could fall 15% by 2035 if countries like Germany and Belgium continued with their decommissioning plans. However, this pullback would only mean an increased demand for coal and gas, which would further deteriorate the environment and produce carbon emissions.

Click Below to read the Versant Partners press release.

____________________________________

PDF 2011 URANIUM REPORT

___________________________________

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

Deep Yellow Triples Ongolo Alaskite Resource In Namibia

2011-11-08T09:00:00.000+10:00

Published on Tuesday November 08 2011

PERTH (miningweekly.com) - Uranium developer Deep Yellow has tripled its Joint Ore Reserves Committee-compliant resource for its Ongolo Alaskite deposit, in Namibia.

The indicated and inferred mineral resource estimate has been tripled to 20.5-million tons, at 400 parts per million (ppm) uranium oxide (U₃O₈) for 18-million pounds of U₃O₈.

This has increased the total Omahola project resource base to 38.6-million pounds of U₃O₈at an average grade of 338 ppm, and Deep Yellow’s total Namibian resource base to 107-million pounds U₃O₈.

“We have concentrated our exploration efforts primarily along the Inca-Ongolo trend and have been consistently rewarded with wide, high-grade intersections,” said Deep Yellow MD Greg Cochran.

“These have now been included to give us a tripling of the Ongolo resource, which remains open along strike. We can expect more success from this region, including a resource upgrade on the satellite MS7 deposit, before the end of the year,” he added.

Deep Yellow recently submitted an environmental impact assessment for the Inca and Red Sands areas, which make up the Omahola project.

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

Uranium Mining & Formation 3D Video

2011-11-05T17:19:00.000+10:00

Published on Saturday November 05 2011

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

EXTRACT Resources Hopes To Secure Husab Mining Licence

2011-11-05T07:54:00.000+10:00

Published on Saturday November 05 2011

Australian Uranium Explorer Extract Resources hopes to secure amining licence from the Namibian government for its $US1.66billion ($1.54bn) Husab uranium project by next month.

"We're hoping for it at the end of the year and we've not heard any negative things coming out (of the government) which would give us alarm," Extract chief executive Jonathan Leslie said after the company's annual general meeting in Perth.

The company continues to pursue a standalone development for Husab, potentially one of the world's biggest uranium mines, despite the possibility it may become a takeover target if China Guangdong Nuclear Power makes a cash bid for Extract's 43 per cent shareholder Kalahari Minerals, Mr Leslie said.

Extract lodged a mining licence request last December, and the application is under "active consideration", he said.

"We've had strong interest for project financing from global banks," he said, adding Extract continues talks aimed at bringing in a strategic partner for Husab.

"We haven't closed off discussions with anyone -- we've kept lines of communication open with all those people in the partnership process," he said.

In February, Extract revealed it was in talks with 14 per cent shareholder Rio Tinto over combining Husab with Rio's neighbouring Rossing mine.

Asked whether Extract had any direct contact with CGNPC, Mr Leslie said: "They are, again, obvious people to be part of the partnership process."

On October 10, British-based Kalahari said it had restarted talks with CGNPC, five months after one of China's biggest nuclear power generators walked away from a $1.2bn bid.

In response, Extract said it had talked to Australia's securities regulator about a potential bid for the company by CGNPC. Under Australian law companies making a fresh investment in a company must make a full takeover bid if their stake exceeds 19.9 per cent.

Mr Leslie said he was confident in the demand for uranium, despite moves by several countries to scale back nuclear programs in the wake of the March 11 earthquake in Japan.

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

Uranium Exploration Boom Embraces Western Australia

2011-11-02T12:25:00.001+10:00

Published on Wednesday November 02 2011

The size of Western Australia's uranium industry has grown exponentially, almost quadrupling in the last four years.

The WA Mines Department has reportedly released data showing 46 companies have been licenced to explore for uranium since 2008, according to The West Australian.

It also released figures showing exploration expenditure reached an all time high of $100 million.

This was driven by a 277% increase in uranium exploration investment since FY 2007/08, when only $26.7 million was invested.

The Australian Uranium Association (AUA) say the state is ahead of the rest of the nation in uranium exploration.

"The results are a strong sign of the confidence the uranium industry has in the medium and long-term outlook for the nuclear industry," it added.

Mining financial services and analysis firm Mine Life agreed.

Gavin Wendt, director of Mine Life, said that nuclear energy has bright future ahead.

He pointed to Rio Tinto's recent acquisition of Canadian firm Hathor Exploration for US$ 570 million as a sign that uranium is in demand.

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

China Expected To Shake Up Global Uranium Market

2011-10-27T06:45:00.000+10:00

Published on Thursday October 27 2011

CHINA over the next decade is tipped to do for uranium what it has done for iron ore, with demand to rise significantly.

Interest in the energy source is increasing again after a decline due to last year's Fukushima nuclear disaster in Japan.

CRU Strategies associate consultant Alan Trench told yesterday's Mining 2011 Resources Convention in Brisbane that Chinese demand could transform the uranium market over the next decade, just as it had shaken up iron ore.

The consensus among keynote speakers yesterday was that uranium was the commodity to watch. The mood was less positive about the iron ore price, which had softened in recent weeks.

Peter Kerr, chief financial officer of uranium takeover target Bannerman Resources, said the sector was definitely improving after a difficult year following the Japanese disaster.

Free trial

China's Hanlong Group made a $145 million bid for Bannerman in July. The target rejected the offer as too low but is talking to the suitor and other parties about developing its Namibian project.

Mr Kerr said the discussions had covered growth in China and its nuclear power ambitions.

"It gives us, as a junior uranium developer, some comfort that there are people in China saying this is not a slowdown and that there is evidence that there is real driving growth here," he said.

Global mining giant Rio Tinto put its weight behind the sector with its $C578m ($549m) bid for Canadian uranium junior Hathor Exploration. The market is also waiting for Extract Resources to be taken out as a result of China's Guangdong Nuclear Power bidding for the Namibia-focused company's major shareholder, Kalahari Minerals.

"It has been tough because of the political comments that have been made, but when you look at the fundamentals of what the big developing countries want to do, the fundamentals are very strong," Mr Kerr said.

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

Black Range Minerals Limited (ASX:BLR) Completes Drilling Program At The Hansen Uranium Deposit

2011-10-24T12:31:00.000+10:00

Published on Monday October 24 2011

ASX Listed Black Range Minerals is pleased to advise that it has completed its inaugural drilling program at the Hansen and Picnic Tree Uranium Deposits in Colorado, USA.

A total of eight diamond core holes were drilled at the Hansen Deposit for 1,741 metres and a further three diamond core holes for 170 metres were completed at the Picnic Tree Deposit. These holes were drilled to obtain additional geological, geotechnical, metallurgical and hydrological data.

Data acquired will be used to update the previous feasibility studies that were undertaken into the development of the Hansen Deposit during the early 1980s.

Analytical results from recent drilling at the Hansen Deposit have been reported previously. These included:

- 11.1 metres at 0.111% eU3O8, including

4.1 metres at 0.165% eU3O8,

1.8 metres at 0.200% eU3O8

- 1.7 metres at 0.138% eU3O8

- 24.8 metres at 0.070% eU3O8

- 13.4 metres at 0.063% eU3O8

- 33.5 metres at 0.061% eU3O8, including

10.1 metres at 0.093% eU3O8,

4.3 metres at 0.100% eU3O8, and

1.5 metres at 0.171% eU3O8

Drilling at the Picnic Tree deposit confirmed the presence of shallow, high-grade mineralisation.

Results in HNDD0011 included:

- 6.1 metres at 0.203% eU3O8, from 40.5 metres, including 4.3 metres at 0.277% eU3O8, from 41.2 metres

It is noted that numerous holes drilled during the recently completed program were located primarily to evaluate geotechnical conditions, rather than to evaluate resource grade, thickness and continuity, which has been well defined with the abundance of previous drilling data.

Representative ore samples from both the Hansen and Picnic Tree Deposits are now being collected.

These will be sent to suitable laboratories for metallurgical test work.

Mine design work for both deposits has also commenced. This work is an integral part of updating the historic feasibility study and determining the optimal development path for the Project. Results of this ongoing work will be reported as they come to hand.

Background - Hansen/Taylor Ranch Uranium Project

The Hansen Uranium Deposit was discovered in 1977 and fully permitted for mining in 1981. The global uranium market subsequently collapsed and mining never eventuated.

More than 1,000 holes were drilled and three feasibility studies completed to evaluate the Hansen Deposit previously.

The Company now holds a direct 24.5% equity interest in the Hansen Uranium Project that covers approximately 3,500 acres and includes the Hansen and Picnic Tree Uranium Deposits. It also holds the exclusive right to secure the remaining 75.5% interest in this Project area, together with the exclusive right to acquire a 100% interest in a further 9,500 acres at the Taylor Ranch Uranium Project, which is located immediately adjacent to, and north of, the Hansen Project.

When applying a 0.025% cut-off grade, the JORC Code compliant Indicated and Inferred resource for the combined Hansen/Taylor Ranch Uranium Project comprises:

68.9 Mt at 0.060% U3O8 for 90.9 million pounds of U3O8

The high-grade and robust nature of the mineralisation at the Hansen/Taylor Ranch Project is demonstrated when applying a 0.075% cut-off grade to the resource calculation. The JORC Code compliant Indicated and Inferred resource for the combined Hansen/Taylor Ranch Uranium Project then comprises:

16.6 Mt at 0.120% U3O8 for 43.8 million pounds of U3O8

The combined Hansen/Taylor Ranch Uranium Project is one of the largest uranium projects within the USA - which as a nation is the largest consumer of uranium in the world. With domestic mines within the USA producing less than 10% of the uranium consumed in the country on an annual basis, the development of such a large and strategic asset should be regarded highly.

Black Range continues to advance feasibility and environmental studies at the Hansen/Taylor Ranch Uranium Project as quickly as possible.

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

Rio Begins Focus On Uranium

2011-10-22T14:36:00.000+10:00

Published on Saturday October 22 2011

RIO Tinto has placed another big bet that uranium demand will rebound from its post-Fukushima decline.

Following its $342 million contribution to the $500 million equity raising by troubled Ranger uranium miner ERA, Rio has now slapped down $C578 million ($A554 million) in a white-knight bid for Canada's Hathor Exploration.

But to secure control of Hathor and its super-high-grade Roughrider deposit in Canada's Athabasca Basin in northern Saskatchewan, Rio will first have to see off the home-town favourite to secure control of Hathor - Cameco.

Advertisement: Story continues below

Cameco, which dominates the Athabasca, home to more than 23 per cent of the global supply of uranium, put Hathor in play on August 30 with a $C3.75-a-share unsolicited offer. Hathor went looking for a white knight and found one in Rio with its agreed $C4.15 a share counter-offer.

Hathor shares promptly ran to $C4.40 a share as investors bet that Cameco - Canada's uranium king and owner of nearby mines in the Athabasca - would have to come back with a higher offer, one that in the first instance would have to cover the $C20 million break fee that Rio secured with Hathor.

Hathor's pride and joy is its Roughrider deposit. It is not overly big at 26,000 tonnes of uranium but its grade of more than 11 per cent uranium oxide is exceptional compared with global averages. In comparison, ERA's Ranger mine in the Northern Territory grades less than 1 per cent uranium oxide.

A preliminary economic assessment of Roughrider indicated that it had a net present value of $C1 billion. But that was based on only part of the known resource, with drilling by Hathor pointing to resource upgrades over time.

Rio's agreed bid for Hathor does not have to pass Canada's ''net-benefit'' test for foreign investment because the book value of Hathor's assets falls below the trigger point for Ottawa to get involved.

It was the net-benefit test that last year brought undone BHP Billiton's $40 billion for Potash Corp. BHP walked away from the bid after a provincial political backlash to foreign control of Potash meant Ottawa was not going to give the OK.

But Rio does face a longer-term issue should it win the day with the Hathor bid and look to develop Roughrider. That is because Canada limits foreign ownership of producing uranium mines to 49 per cent. Higher levels are OK if the project is considered Canadian-controlled or if a Canadian partner cannot be found.

As good as its grade is, Roughrider is years away from development, giving Rio time to sort through the foreign investment issues.

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

Extract Resources Seeks Funding For Its Namibian Uranium Project

2011-09-15T06:40:00.000+10:00

Published on Thursday September 15 2011

EXTRACT Resources has begun talks with potential lenders to its $US1.66 billion ($1.61bn) Husab uranium project in Namibia, in a major test of financiers' willingness to support new uranium mines following Japan's nuclear crisis.

Perth-based Extract has approached several financing agencies and banks, seeking support for its plans to process 15 million tonnes of ore annually at Husab, which would make it one of the world's largest uranium mines.

"Extract intends to finance the development of Husab with a combination of debt and equity," chief executive Jonathan Leslie said in Extract's annual report.

Spot uranium prices continue to trade near lows reached soon after three Fukushima Daiichi nuclear reactors exploded. Long-term contract prices have fallen 12 per cent since Japan's March 11 earthquake and tsunami.

The long-term contract price is expected to stay in a $US60-$US75/lb trading band but analysts say spot uranium could fall to $US45.95/lb from the current $US52.75/lb on fears of weak demand in Japan and Germany.

The long-term price "should support development decisions at a number of advanced uranium development projects, particularly in Namibia," Sydney-based Resource Capital Research wrote in a report this month.

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

Northern Minerals - Further High Grade, Heavy REE Results From Browns Range Drilling

2011-09-07T21:18:00.000+10:00

Published on Wednesday September 07 2011

Northern Minerals (ASX: NTU) has received further exciting Heavy Rare Earth Element (HREE) results from drilling at its Browns Range project in northern WA (see Figure 1 below), which have confirmed and extended the high value HREE mineralisation.

The results feature several significant intersections with Total Rare Earth Oxide (TREO) in excess of 1%. The assays are from the first half of an 11,000m RC drilling program at Browns Range, and follow the previous results announced in July 2011.

The Company now has assays from the first 72 holes from the 134 holes drilled to date, covering four highly prospective areas of mineralisation (Area 5, Area 5 North, Gambit and Wolverine - see Figure 2 below). Best results from the 61 holes assayed in this recent batch include (all from Gambit prospect):

· NMBRRC055 - 11m @ 2.07% TREO (0.19% Dy2O3) from 35m

· NMBRRC057 - 18m @ 1.19% TREO (0.11% Dy2O3) from 51m

· NMBRRC045 - 9m @ 1.68% TREO (0.15% Dy2O3) from 86m

· NMBRRC046 -11m @ 1.07% TREO (0.10% Dy2O3) from 48m

· NMBRRC051 - 7m @ 1.61% TREO (0.15% Dy2O3) from 66m

· NMBRRC059 - 3m @ 2.31% TREO (0.21% Dy2O3) from 42m

· NMBRRC056 - 3m @ 1.48% TREO (0.13% Dy2O3) from 45m

· NMBRRC048 - 3m @ 1.54% TREO (0.14% Dy2O3) from 30m

NB - TREO: Total Rare Earth Oxides - Total of La2O3, CeO2, Pr6O11, Nd2O3, Sm2O3, Eu2O3, Gd2O3, Tb4O7, Dy2O3, Ho2O3, Er2O3, Tm2O3, Yb2O3, Lu2O3, Y2O3

A key feature of the results is the xenotime hosted REE mineralisation, and the dominance of high value heavy REE. HREO accounts for an average 83% of the TREO from Gambit, with high levels of dysprosium a key feature. With limited sources of new and available global supplies, dysprosium has become of critical economic importance in the development and implementation of clean energy technology.

Managing Director George Bauk said the high levels of HREE, and the fact that the majority of other new and developing REE projects were dominated by light REE, made the Browns Range project unique.

"The high grades and the widths of these intersections at Gambit are giving us considerable confidence in the project, particularly with the exciting early indications from the completed drilling at the adjacent Wolverine which look even better," he said.

"It means Browns Range is really shaping up as a significant new discovery, and a potential HREE project of global significance," Mr Bauk said.

Another key advantage of the Gambit mineralisation is the relatively low levels of uranium and thorium with an average of only 37ppm uranium per 1% TREO (cut-off of 0.2% TREO). Metallurgical test work indicates that thorium is not directly associated with the xenotime mineralisation, and therefore can be readily removed.

The Company has also completed a number of holes at the nearby Wolverine prospect, with early analysis using a portable XRF unit returning outstanding HREE intersections over significant widths up to 40m. Laboratory assay results from several of these holes are pending, and the first are expected to be available within two weeks, with the remainder expected during October.

Northern Minerals has also received additional results from Area 5 North, which have revealed numerous low-grade REE (0.2% - 0.5%) intersections.

Mr Bauk said "At current REO prices the mix of high value HREE at Browns Range has an estimated in ground value of US$4,000/t for every 1% TREO".

"Our relatively simple processing route and high value HREE mix compared to other light REE projects gives us the confidence to develop a business model based on moving this project into concentrate production in less than five years. The ability to produce a high grade concentrate from a relatively simple flow sheet means significantly less time and capital costs than are typically associated with other light REE projects which can take 10 - 15 years to get into production and cashflow," he said.

Gambit Prospect

At the Gambit Prospect, a total of 57 holes (NMBRRC034 - 072 & NMBRRC093 - 110) have been completed to date, with assays now received up to hole NMBRRC072. Holes were drilled 20-25m apart on north-south trending sections every 50 metres. Drill hole fences were directed alternately north and south to intersect an interpreted dominant east-west trending sub-vertical fault structure. The program was targeted at the peak of an east-west trending soil geochemical anomaly which extends over 2km (see Figure 3 below). The drilling completed to date has partly tested an area approximately 600m by 200m in extent (see Figure 4 and 5 below), with most of the drilling focused on an area 300m long.

Significant REE mineralisation (>0.2% TREO) has been intersected on all drill traverses across the 600m wide zone. Mineralisation is hosted by quartz-veined, silicified and/or hematitic arkosic sandstone, and appears to be controlled by an east-west trending fault structure(s), and northwest trending cross-cutting structures. The geometries of the mineralised zones are currently being assessed, with several possible interpretations for the orientations. One interpretation is that mineralisation is broadly sub-vertical, with higher-grade zones at fault intersections which create pipe-like plunging shoots.

Closer-spaced drilling (25m spaced sections) and core drilling is required in order to gain a better understanding of the structural controls on mineralisation. Further assay results from the remainder of the holes at Gambit (NMBRRC093 - 110) are expected next month.

Analysis of the assay results has shown the REE mineralization to be dominated by heavy rare earths with an average of 83% of TREO being heavy rare earths (above a cut-off of 0.2% TREO).

Wolverine Prospect

A total of 33 holes (NMBRRC073 - 092 & NMBRRC111 - 123) have been drilled at the Wolverine prospect. Holes have targeted a soil geochemical anomaly which extends for approximately 500m and is spatially coincident with a west northwest trending fault breccia structure. Drilling has been completed on north-south traverses approximately 25m apart over an area approximately 400m in strike length. Portable XRF measurements of samples from drill holes at the western end of the geochemical anomaly have indicated significant widths of REE mineralisation over a strike length of approximately 180m. Assay results are currently pending with results from holes NMBRRC073 - 092 expected within two weeks.

Paladin Energy Seeks Partners For Global Growth

2011-09-04T11:07:00.000+10:00

Published on Sunday September 04 2011

ASX-LISTED African uranium producer Paladin Energy is looking to bring in partners to speed up work on its global portfolio of development projects.

The Perth-based group revealed in an investor briefing yesterday that it had eight ''genuine inquiries'' from potential joint-venture partners and it was a ''reasonable aim'' to have something finalised by the end of the calendar year.

But the prospect of big-spending joint-venture partners picking up the pace on the development of Paladin's uranium deposits beyond its present two African mines failed to excite the market.

Shares in the company weakened 3.5¢ to $1.99, continuing the slide from the $5 a share that Paladin commanded before investor confidence in uranium stocks was undermined by the partial meltdown at Japan's Fukushima nuclear power plant in March.

Paladin managing director John Borshoff told the investor briefing that introducing joint-venture partners to fund new developments would achieve growth in a much less costly manner. ''This program of monetising some of our non-producing projects with third-party engagement for minority interest[s] was always on our agenda,'' he said.

''We are positioned to make Paladin a partner of choice and this is reflected in the interest and the intensity of discussions we are having.''

Mr Borshoff said that while uranium prices had weakened following Fukushima, the future of the global nuclear power industry was assured. The effect of Fukushima on demand would be minimal, he said.

Demand for uranium would be driven by nuclear programs in China, Korea, India, Russia and the Middle East.

Mr Borshoff said Japan itself would take a ''pragmatic approach'' and return to nuclear to reduce its ''vulnerability and risky exposure'' to energy supplies.

Paladin's executive general manager of marketing, Dustin Garrow, tipped in the briefing that uranium prices were set to rise. ''Over the last three or four weeks, we've started to see a noticeable increase in interest in the term market, both in formal requests as well as off-market inquiries,'' Mr Garrow said.

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

Cameco Offers $520M for Hathor Exploration

2011-08-27T16:02:00.000+10:00

Published on Saturday August 27 2011

Cameco Corp. has launched a hostile $520-million bid for junior miner Hathor Exploration Ltd. in an attempt to take control of one of the best uranium discoveries in Saskatchewan in years.

Saskatoon-based Cameco offered $3.75 a share in cash, which represents a premium of 40% over Hathor's closing price on Thursday.

Cameco said it reached out to Hathor last week in an attempt to strike a friendly deal, but launched the hostile bid after it failed to make progress.

Cameco covets Hathor's Roughrider project, a high-grade uranium deposit that was discovered in 2008. It has indicated and inferred resources of nearly 58 million pounds of uranium.

"The market has recognized the exceptional job Hathor has done with the Roughrider deposit and the company's other properties," Cameco chief executive Tim Gitzel said in a statement.

"Given our financial strength, development expertise, existing infrastructure and experience in the Athabasca region, we feel we are in a unique position to build on that success and further advance the Roughrider deposit."

The uranium market has been in a funk since the Fukushima nuclear disaster in March, and Mr. Gitzel has hinted that he may try and take advantage of the slump and pursue acquisitions. This is his first big move as CEO since taking over in July.

Hathor's stock shot up 46% by 10 a.m. Friday, with shares trading at $3.90, above the price offered in Cameco's bid, suggesting investors expect the negotiations are not over yet.

The offer is open for 60 days and requires a minimum tender of of two-thirds of Hathor shares.

The bid implies an enterprise value of US$8.70 per pound of contained uranium, Edward Sterck, an analyst with BMO Capital Markets, said in a note Friday.

This is a bargain compared to Russian company ARMZ's purchase of Australian Mantra Resources Ltd. earlier this year (priced at US$10 per pound) but is richer than China Guangdong Nuclear Power Group's proposed offer for South African Kalahari Minerals plc (priced at US$6.30 per pound), he said.

"Given the nature of the Athabasca deposits, 58 million pounds may not constitute critical mass for the Roughrider deposit, suggesting that Cameco sees upside potential to the current resource base and sees synergies with its existing operations."

The company has said the all-cash bid will be fully funded from existing funds. Mr. Sterck noted that as of June 30, Cameco had $346-million in cash on hand, suggesting it may have to liquidate some of its $873-million in short-term investments to make the Hathor purchase.

He maintains an Outperform rating on Cameco and a share price target of $28.00. Its stock was trading down about 2% at $21.55 Friday morning after markets opened.

Rob Chang, an analyst with Versant Partners, said the offer could also spark interest in the much smaller Fission Energy Corp., a uranium producer with a market capitalization of $50.4-million. Fission's Waterbury Lake "J-Zone" discovery is directly adjacent to Hathor's Roughrider deposit.

"We believe this bid from Cameco is the positive catalyst many have been waiting for to reignite interest in the uranium space," Mr. Chang said in a note Friday.

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

Toro Energys Theseus Project Turns Into Major Uranium Discovery

2011-08-21T19:40:00.000+10:00

Published on Sunday August 21 2011

Toro Energy (ASX: TOE) string of high grade results has confirmed the Theseus Prospect in Western Australia to be a large uranium mineralised system covering over 7.5 square kilometres.

To continue to unlock the significance of this discovery, Toro will now ramp up drilling targeting the definition of higher grade uranium zones.

Drilling highlights include:

- 4.46 metres at 837 ppm eU3O8 from 98.11 metres, including 1.54 metres at 1909ppm eU3O8;

- 9.02 metres at 619 ppm eU3O8 from 100.38 metres, including 1.46 metres at 2204ppm eU3O8; and

- 3.54 metres at 378 ppm eU3O8 from 105.63 metres, including 0.44 metres at 1469ppm eU3O8.

An air-core drilling campaign kicked off at the prospect earlier in the month, with 19 of the planned 60 holes having been drilled and gamma logged so far to total depths ranging from 103 metres to 210 metres, passing through a basement interface at roughly 125 metres.

What is so important for the discovery, is that twelve of the nineteen holes drilled so far report uranium intersections with grades above 100ppm eU3O8, and widths greater than 0.5 metres - pointing to an extensive system.

Greg Hall, managing director, added “We are excited and encouraged by the size, extent and grade of uranium mineralisation so far intersected.

"Toro’s systematic approach to defining the location of the higher grade uranium mineralisation in Theseus is key to ensuring the system is well defined before more closely spaced drilling is used to define a resource prepared in accordance with the JORC code.”

Importantly - the minimum extent of the system is now 5 kilometres by 1.5 kilometres, and open in all directions.

Geologically, Theseus is situated within an interpreted northerly trending palaeovalley broadly defined by previous drilling.

The prospect is part of Toro's wholly owned flagship Lake Mackay Project, located 650 kilometres west of Alice Springs but inside the Western Australia border.

Toro is also developing the advanced Wiluna uranium project which is further west in the state and scheduled for first production from late in 2013, pending government approvals.

Potential In-Situ Recovery

Toro has outlined the lithological and mineralogical association at Theseus saying that it is very similar to the 4 Mile and Beverley uranium deposits in South Australia which are currently being developed or are in production.

Both uranium deposits are amenable to In Situ Recovery (ISR) where slightly acidified water is pumped to depths of 150 metres through confined sand layers, extracting and transporting uranium to a surface processing plant.

The company added that similarities can also be drawn to operating ISR mines in the US and Kazakhstan where uranium mineralisation is mined by ISR techniques.

The geological environment and the consistency of the mineralised zones at Theseus, albeit at an early stage, supports the possibility of ISR extraction methods as a potential development scenario - although the development scenarios and economics remain undefined at this time.

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

Uranium Mine Proposed Near Whyalla

2011-08-12T19:54:00.000+10:00

Published on Friday August 12 2011

The mining company Uranium SA has applied to begin full scale trials at a proposed uranium mine site near Whyalla on South Australia's Eyre Peninsula.

The company wants a mining licence for its 225-hectare Blackbush deposit 20 kilometres south-west of Whyalla and three kilometres from Spencer Gulf.

Uranium SA says it hopes to confirm exploration results that showed considerable uranium deposits in the area. The company says if the application is successful,full-scale production could begin by the end of next year.

If approved, the project would be the latest major development in the area, with a deep-sea port, explosives factory and desalination plant already in the pipeline.

About 100 tonnes per year could be mined at the site if it reaches full production.

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

Deep Yellow Confirms Ongolo Alaskite Project MS7 Discovery

2011-08-09T18:39:00.000+10:00

Published on Tuesday August 09 2011

Deep Yellow (ASX: DYL) has received more wide high grade intercepts from reverse circulation (RC) drilling along the Ongolo-INCA trend in Namibia, which could potentially join up with the Ongolo resource area.

Chemical assays at the MS7 Prospect include 36 metres at 536 parts per million (ppm) uranium (U3O8) from 142 metres, and 44 metres at 506 ppm U3O8 from 38 metres.

The MS7 main mineralised zone is now 400 metres long and 200 metres wide. Drilling is continuing to test the potential that MS7 may ultimately join up with the Ongolo Alaskite Resource area.

A shallow very high grade intercept from RC drilling at the INCA FS Prospect has also intersected 22 metres at 1,195 ppm U3O8 from 32 metres.

Greg Cochran, Deep Yellow's managing director, said “Ongolo MS7 is starting to look more and more like the Ongolo Deposit, although it may be structurally simpler which works in our favour.

"In addition, the possibility that it could join up with Ongolo means that we may have discovered a much larger higher grade alaskite deposit.”

On May 12 Deep Yellow achieved a maiden Indicated and Inferred Mineral JORC Resource estimate for the Ongolo Alaskite deposit, totalling 6.9 million tonnes (Mt) at 410 parts per million (ppm) for 6.2 million pounds (Mlbs) uranium (U3O8) at a 275 ppm cut-off.

The MS7 alaskite discovery is located about 2 kilometres to the west of the Ongolo deposit. The main mineralised zone extends about 400 metres along the strike and is up to 200 metres wide.

Seven RC rigs and two diamond rigs are now drilling in the Omahola Project area. A number of mineralised holes at Ongolo, MS7 and INCA FS, which also had high-grade downhole gamma logging results are still in the process of being assayed.

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

Northern Minerals(Uranium) Ltd Targets Rare Earths Production Within 5 years

2011-08-04T08:31:00.000+10:00

Published on Thursday August 04 2011

In the race to produce rare earths outside China, which supplies most of the world's output of the metal elements used in high-tech, Australian explorer Northern Minerals (NTU.AX) could be the next hot play.

Northern Minerals unveiled encouraging drilling results from its Browns Range project in Western Australia last week, where it said it found a high proportion of two of the heavy rare earths elements that are in tightest supply.

That sets it apart potentially from the two companies outside China producing rare earths elements, Lynas Corp (LYC.AX) and Molycorp Minerals (MCP.N), which mostly have light rare earths elements.

Northern Minerals was particularly excited about its find as the geology shows it should be able to produce a concentrate relatively easily, cheaply and quickly.

"We're looking for ways to bring this to market as soon as possible," Managing Director George Bauk told Reuters in an interview on Tuesday, noting it was looking to produce in five years rather than 10-15 years for typical projects.

The Browns Range project could be developed for about one-tenth the typical billion dollar cost of a rare earths project, as the company plans to sell the elements in concentrate rather than building an expensive processing plant, he said.

"The industry needs this product as soon as possible. If we spent a lifetime trying to crack it ourselves, we may miss a critical window of opportunity," he said.

With its bigger proportion of the heavy rare earths elements dysprosium and yttrium, Northern Minerals is not in competition with Lynas and Molycorp, Bauk said.

"They're definitely exposed to the right end of the spectrum," said David Brennan, an analyst at Daiwa Securities.

Moves by China to restrict production of heavy rare earths elements, partly due to environmental concerns, have sent prices for dysprosium, used in magnets for wind turbines, mobile phones and hybrid cars, rocketing to $2,840 (1,744.36 pounds) per kilogram from $400 per kg at the beginning of 2011.

Yttrium, used to make phosphors used in energy efficient lighting, TV screens and computer displays, has nearly doubled in price to $179 per kg over the same period.

Lynas produces just 44 tonnes of dysprosium out of 22,000 tonnes a year of rare earths produced, while Molycorp has none.

Another advantage of the Browns Range find is that it has about one-quarter the radioactivity that Lynas has, well below detectable levels, which should make any project there less controversial than other rare earths projects.

"There's no current issues that we can perceive," Bauk said of the radioactivity.

Lynas owns 7.9 percent of Northern Minerals, and the company's top 10 owners own 50 percent of the stock.

Its shares last traded down 3 percent at A$0.80, valuing the group at A$137 million. It hit a three-month high of A$0.90 last week.

Daiwa's Brennan said financing was becoming easier to secure funds for rare earths projects, but if there was any kind of credit freeze, new projects would need to find other sources of funding, such as joint ventures with buyers.

Bauk said the company was already talking to potential off-takers for the project, including Japanese companies whom he declined to name, and said those rare earths elements buyers would be one potential source of funding for the project.

With A$7.7 million cash on hand, the company has ample funds for its drilling plans this year at Browns Range and its John Galt prospect before it goes into feasibility studies.

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

Significant Progress Made On The Acquisition Of The Hansen Uranium Deposit

2011-08-02T19:35:00.000+10:00

Published on Tuesday August 02 2011

Black Range Minerals Limited (ASX:BLR) is very pleased to advise that all conditions precedent pertaining to the definitive agreement, executed with STB Minerals LLC ("STB") earlier this year, to acquire its 51% interest in the Hansen Uranium Deposit in Colorado, USA, have been satisfied.

This is an important milestone for the Company as the owners of the surface rights over the Hansen Uranium Deposit have now explicitly approved mining of the deposit. Furthermore the ownership of the deposit (51% STB - 49% NZ Minerals LLC ("NZ")) has been categorically and indisputably resolved.

The Hansen Uranium Deposit itself hosts JORC Code compliant indicated and inferred resources totalling:

28.4 Mt at 0.064% U3O8 for 39.4 million pounds of U3O8.

This deposit is located immediately adjacent to the Company's Taylor Ranch Uranium Project. Combined these two projects host JORC Code compliant indicated and inferred resources of:

68.9 Mt at 0.060% U3O8 for 90.9 million pounds of U3O8.

The Company now has the exclusive rights to acquire 100% of the minerals rights on approximately 13,000 acres at these Projects.

Payment of additional consideration to STB and NZ

With all conditions precedent satisfied, in accordance with its definitive agreements with STB and NZ, the Company has made payments comprising US$1 million cash and US$1.25 million worth of shares in Black Range (30,585,140 shares) to STB and a further US$1 million cash and US$1 million worth of shares (27,996,857 shares) to NZ.

Transfer of 24.5% interest in the Hansen Uranium Project to Black Range Minerals Limited

Having made the above mentioned payments to NZ, NZ will now irrevocably transfer 50% of its mineral rights (for a net 24.5% interest in the Hansen Uranium Project), to Black Range. The Company has the exclusive right to acquire NZ's remaining 24.5% interest in the Hansen Project by bringing it to production and making an additional payment of US$2 million in cash and US$2 million in shares.

The Company also has the exclusive right to acquire STB's 51% interest in the Hansen Project at any time in the next six years by completing certain work programs and by making additional staged payments. These comprise:

(i) US$1.25 million of shares in 6 months;

(ii) US$2 million in cash and US$7.5 million in shares at any time in the next six years. If this payment is not made within the next 3 years then in order to extend its option to acquire STB's 51% interest for a further 3 years the Company is required to pay an additional US$1 million in cash and US$1 million in shares.

Update of Previous Feasibility Study

A 10-12 diamond core-hole drilling program is progressing well at the Hansen Project. The purpose of this program is to acquire additional technical data so that the previous feasibility studies, which were undertaken on the Deposit during the early 1980s, can be updated.

A decision on the best development path for the project will then be made.
Background - Hansen/Taylor Ranch Uranium Project

The Hansen Uranium Deposit was discovered in 1977 and fully permitted for mining in 1981. The global uranium market subsequently collapsed and mining never eventuated.

More than 1,000 holes were drilled and three feasibility studies completed to evaluate the Hansen Deposit previously.

The Company now holds a direct 24.5% equity interest in the Hansen Uranium Project that covers approximately 3,500 acres and includes the Hansen and Picnic Tree Uranium Deposits. It also holds the exclusive right to secure the remaining 75.5% interest in this Project area, together with a 100% interest in a further 9,500 acres at the Taylor Ranch Uranium Project, which is located immediately adjacent to, and north of, the Hansen Project.

When applying a 0.025% cut-off grade, the JORC Code compliant indicated and inferred resource for the combined Hansen/Taylor Ranch Uranium Project comprises:

68.9 Mt at 0.060% U3O8 for 90.9 million pounds of U3O8

The high-grade and robust nature of the mineralisation at the Hansen/Taylor Ranch Project is demonstrated when applying a 0.075% cut-off grade to the resource calculation. The JORC Code compliant indicated and inferred resource for the combined Hansen/Taylor Ranch Uranium Project then comprises:

16.6 Mt at 0.120% U3O8 for 43.8 million pounds of U3O8

The combined Hansen/Taylor Ranch Uranium Project is one of the largest uranium projects within the USA - which as a nation is the largest consumer of uranium in the world. With domestic mines within the USA producing less than 10% of the uranium consumed in the country on an annual basis, the development of such a large and strategic asset should be regarded highly.

Black Range continues to advance feasibility and environmental studies at the Hansen/Taylor Ranch Uranium Project as quickly as possible.

For the complete Black Range announcement including tables and figures, please refer to the following link:
http://media.abnnewswire.net/media/en/docs/ASX-BLR-551920.pdf

About Black Range Minerals Limited

Black Range Minerals Limited (ASX:BLR) is an Australian Stock Exchange-listed company focused on growth through acquisition, exploration and development of resources projects.

The Company is focused on advancing the high-grade Taylor Ranch/Hansen Uranium Project in Colorado, USA towards production.

The 100% owned Taylor Ranch Uranium Project contains JORC Code compliant indicated and inferred resources of more than 60 million pounds of U3O8. Immediately adjacent is the Hansen Uranium Project, which the Company recently secured exclusive rights to acquire a 100% interest in. The combined assets comprise one of the largest uranium projects within the USA.

The Company is constantly assessing other investment opportunities, including the acquisition of additional quality projects in the resources sector.

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

Namibia Approves Infrastructure For Bannerman’s Etango Uranium Project

2011-07-28T21:28:00.000+10:00

Published on Thursday July 28 2011

PERTH ASX- and TSX-listed Bannerman Resources has received environmental clearance from the Namibian Ministry of Environment and Tourism for the linear infrastructure for its Etango uranium project.

The environmental clearances gave approval for a linear infrastructure corridor from the existing nearby public road to the project site, and included road, rail, power lines, telecommunications and a water pipeline.

“The grant of the environmental clearance for the linear infrastructure associated with the Etango uranium project, following an extensive documentation and public consultation programme, demonstrates the ongoing support of the Namibian government for the project,” said CEO Len Jubber.

Bannerman, which China’s Hanlong Mining Investments wants to buy, received the environmental clearance for the development of the Etango project last year, based on the configuration set in the 2009 environmental- and social-impact assessment (ESIA).

An updated ESIA and accompanying environmental and social management plan, incorporating the now expanded resource area and site layout refinements, would be lodged for public comment during the next quarter, following which it would be submitted to the Namibian Ministry of Environment and Tourism for approval.

Jubber said that upon the receipt of an updated environmental clearance for the development of the Etango project, Bannerman would lodge supplementary information with the Ministry of Mines and Energy in further support of the existing Etango mining licence application.

The Etango project currently has a measured resource of around 62.7-million tons, grading 205 ppm for 28.3-million pounds of uranium oxide, an indicated resource of 120.4-million pounds, and an inferred resource of 63.9-million pounds.

On Monday, Extract Resources also announced that Namibia had granted it environmental approval for the linear infrastructure to service its Husab uranium mine.

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

Jorc Resource Up Black Range Minerals 51% Upgrade to 90.9 Million Pounds Of Uranium At Hansen/Taylor Ranch Uranium Project

2011-07-20T11:19:00.003+10:00

Published on Wednesday July 20 2011

Black Range Minerals Limited (ASX:BLR) is very pleased to advise that it has completed a calculation of the resource for the combined Hansen/Taylor Ranch Uranium Project in Colorado, USA.

This resource calculation follows the execution, earlier this year, of agreements that provide the Company the exclusive right to acquire 100% of the Hansen Uranium Deposit, which was discovered in 1977 and fully permitted for mining in 1981, prior to the collapse of the global uranium market.

More than 1,000 holes were drilled and three feasibility studies completed to evaluate the Hansen Deposit previously. Information from these holes has been used to calculate a JORC Code compliant resource estimate for the areas covered by recent agreements.

This resource estimate has been integrated with previously calculated JORC compliant resources from the series of deposits on the immediately adjacent Taylor Ranch Uranium Project, in which the Company also holds a 100% interest in the mineral rights.

When applying a 0.025% cut-off grade, the JORC Code compliant indicated and inferred resource for the combined Hansen/Taylor Ranch Uranium Project comprises:

68.9 Mt at 0.060% U3O8 for 90.9 million pounds of U3O8

This represents a 51% increase in the number of pounds of U3O8 previously reported for the Taylor Ranch Uranium Project.

44% of this resource is classified "Indicated", as summarised in Table 2 below (see link at the bottom of the release).

When applying a 0.075% cut-off grade, the JORC Code compliant indicated and inferred resource for the combined Hansen/Taylor Ranch Uranium Project comprises:

16.6 Mt at 0.120% U3O8 for 43.8 million pounds of U3O8

This represents a 58% increase in the number of pounds of U3O8 previously reported for the Taylor Ranch Uranium Project. It illustrates that there is a very robust resource at the Hansen/Taylor Ranch Uranium Project.

46% of this resource, at a 0.075% cut-off grade, is classified "Indicated", as summarised in Table 3 below (see link at the bottom of the release).

These statistics confirm that the combined Hansen/Taylor Ranch Uranium Project is one of the largest uranium projects within the USA - which is the largest consumer of uranium in the world.

With domestic mines within the USA producing less than 10% of the uranium consumed in the country on an annual basis, the development of such a large and strategic asset should be regarded highly.

Black Range continues to advance the Hansen/Taylor Ranch Uranium Project feasibility and environmental studies as quickly as possible.

The Company is currently undertaking a 10-12 hole (approximately 3,000 metre) drilling program at the Hansen Uranium Deposit to acquire additional geological, geotechnical, metallurgical and hydrological data required to update the historic feasibility studies.

The Company is simultaneously acquiring base line environmental data in order to streamline the mine permitting process.

For the complete Black Range Minerals announcement including tables and figures, please refer to the following link:

http://www.asx.com.au/asxpdf/20110720/pdf/41zvrkrh8vxcln.pdf

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

7th Annual Australian Uranium Conference 20-21 July 2011

2011-07-20T09:10:00.000+10:00

Published on Wednesday July 20 2011

The 7th Annual Uranium Conference

The Australian Uranium industry has consolidated in the past year and is looking forward to better times, with a surge in prices over the past few months.

With political pressure brought on to sell to new markets this year, along with the upcoming proposals to mine Uranium in Western Australia, this year could mark a cornerstone for the industry.

The 7th Australian Uranium Conference will again feature industry updates, company presentations, government information talks, and technical presentations. This makes the event the original and all encompassing venue for anyone wishing to keep themselves informed on the uranium industry and the issues associated with it.

The conference has proven itself to be the most influential and largest uranium event in Australia and the 7th Australian Uranium Conference will once again not disappoint.

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

Toro Energy Takes Stake In Nowthanna Uranium Project

2011-07-19T18:32:00.000+10:00

Published on Tuesday July 19 2011

Toro Energy has increased its mid-west Western Australian uranium resource base by 25 per cent, with the acquisition of a large stake in another resource project.

The company has bought a 70 per cent stake in the Nowthanna uranium project, which lies 150 kilometres west of its Wiluna uranium mine.

It plans to start production at the Wiluna project by late 2013.

Toro's Managing Director, Greg Hall, says the purchase reinforces the company's position as a major player in the region.

"We think it's a good acquisition in difficult market times," he said.

"We certainly believe that by picking up these regional plays we are enhancing the potential value to our shareholders going forward, these sort of regional plays do take a lot more work but certainly it's giving us a much larger footprint."

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

Strike Halts Production At Rossing Uranium Mine

2011-07-15T22:07:00.000+10:00

Published on Friday July 15 2011

15 July 2011 - A strike at mining giant Rio Tinto's Rossing uranium mine in Namibia ‒ the third largest uranium mine in the world ‒ has brought production of the energy metal there to a complete standstill.

“Production came to a halt yesterday morning, but we have not yet made an assessment of the losses,” Rossing corporate affairs manager Jerome Mutumba confirmed here. Union officials could not be reached immediately for comment.

Some 500 to 600 workers went on strike, demanding a bonus payment and distribution of the pension fund surplus to employees, according to a letter sent by Rio Tinto to union officials and union papers seen by Reuters.

Rio Tinto said in the letter it considered the strike illegal and could lodge an action for damages against those responsible for the "substantial losses".

Rossing ‒ a large, low-grade open pit uranium mine ‒ is the world's third largest producer of uranium oxide globally. According to Rio Tinto, the mine accounts for around 3.85% of Namibia's gross domestic product.

It is 68.6% owned by Rio, with the remaining stake owned by Iran, South Africa's Industrial Development Corporation and the Namibian government. At the end of 2010, Rossing had 1,592 permanent employees.

Rio Tinto spokespeople in London could not be reached immediately for comment.

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

Australian Uranium Developer Bannerman Gets A$143 Million Takeover Proposal From Hanlong

2011-07-11T17:45:00.000+10:00

Published on Monday July 11 2011

China's Sichuan Hanlong Group has made a A$144 million ($154.9 million) "highly conditional" bid for Australia's Bannerman Resources Ltd , eyeing the group's uranium project in Namibia near key mines.

The bid at A$0.612 a share represents a 59 percent premium to Bannerman's Friday close, but Bannerman said privately owned Sichuan Hanlong was trying to take advantage of recent share price weakness in the wake of Japan's Fukushima nuclear crisis.

"The board of Bannerman believes that Hanlong recognises the strategic significance of controlling Bannerman's large-scale and low technical risk Etango Uranium Project in Namibia," the company said.

It has been trying to find a joint venture partner to help finance, develop and operate its 80 percent-owned Etango project, southwest of Rio Tinto's Rossing uranium mine and west of Paladin Energy's Langer-Heinrich mine.

Bannerman, being advised by Macquarie Capital and Cutfield Freeman & Co, said it will continue to talk with Hanlong though it will not grant it exclusivity, and will also continue discussions with others for a joint venture.

Hanlong's bid comes two months after state-owned China Guangdong Nuclear Power (CGNPC) was forced to withdraw an offer for UK-listed Kalahari Minerals after UK regulators blocked it from cutting its bid after the Fukushima disaster.

Kalahari's key asset is a 43 percent stake in Extract Resources , which owns the Husab uranium project in Namibia, potentially the second-largest uranium mine in the world.

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

Lynas Corporation And Siemens In Rare-Earth Magnet Venture

2011-07-08T07:08:00.000+10:00

Published on Friday July 08 2011

Lynas Corp will team up with Siemens in a joint venture that will help the German technology giant secure a long-term source of supply-constrained rare earth elements, coveted for their use in hybrid car engines, smartphones, iPads and other modern technologies.

The two companies have signed a letter of intent to form a joint venture, of which Siemens will own 55 per cent, that will specialise in the production of high-powered rare earth magnets used in energy-efficient engines and wind turbines.

‘‘This planned joint venture would be an important strategic pillar for us to pursue a long-term and stable supply with high performance magnets,’’ Ralf-Michael Franke, chief executive of Siemens’ drive technologies division, said.

The chief executive of Lynas, Nicholas Curtis, said the deal was part of its strategic objective to become integrated into the supply chains of its end customers.

‘‘It’s strategically, in my opinion, very significant in that it sets a direction to say that we are using our first-mover position to establish strategic alliances,’’ Mr Curtis said.

Mr Curtis said Siemens – and major Japanese investor Sojitz – were satisfied with the environmental credentials of Lynas, despite a large amount of negative publicity generated from its plans to build the world’s largest rare earth refinery in Malaysia.

‘‘[Siemens have] reviewed it fully, they understand and are comfortable with the reality of our operations, as are the Japanese,’’ Mr Curtis said.

‘‘You can’t go into the windfarm business based on an unsustainable environmental platform. It’s absolutely critical for them for this platform to be green.’’

Siemens employs 36,000 staff in its drive technologies division, which generated 7 billion euro ($9.34 billion) in sales and is a heavy innovator in energy efficient technologies.

China dominates 97 per cent of the world's rare earth production and has imposed export quotas in recent months, sparking a global rush to find alternative sources for the valuable elements.

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

Jonesville Alaskan Coal Permit Awarded To Black Range Minerals

2011-07-06T13:42:00.000+10:00

Published on Wednesday July 06 2011

On the Coal Front!

State renews Jonesville Coal Permit
By K.T. McKee
Frontiersman
Published on Monday, May 30, 2011 5:02 PM AKDT

SUTTON The state renewal of an outside mining companys Jonesville coal mining permit earlier this month was so quiet, it wasnt even mentioned at the latest Sutton Community Council meeting.

Then again, only half of the eight-person council was present at the May 25 meeting at Sutton Elementary School, where about 25 residents filled metal folding chairs to hear other items on the SCC agenda.

Despite the lack of a quorum, council members Claudia Dolfi, Jan Mulder, Gene Agnew and Jim McPherson discussed revenue sharing projects, a potential pedestrian/bike trail and a new child care center opening in town.

The council had previously voted 4 to 3 to issue a statement of support for coal mining in the area, causing an uproar in the small community between Miles 57 and 65 of the Glenn Highway.

The Frontiersman was alerted to the May 18 Jonesville permit renewal for Colorado-based Ranger Alaska by anti-coal activist Bonnie Zirkle, who owns 80 acres within one mile of the Wishbone Hill property off Buffalo Mine Road being explored by the Usibelli Coal Mine Co.

Ranger Alaska is a subsidiary of the Australian mining company Black Range Minerals.

Zirkle said last week she wasnt particularly surprised the Jonesville permit didnt come up for discussion at the May 25 SCC meeting.

Its probably better for the pro-coal people if the issue gets as little press as possible,Zirkle said.Theyd rather it quietly proceed in the hopes theres not much opposition to it until its too late to stop it.

The potential Jonesville coal mine is one of a few in the Sutton area that have sparked an array of heated debates within the past year over whether coal mining in the Matanuska Valley can be conducted again in a way that does not disturb the local ecosystem, air and water quality, and general quality of life north of Palmer.

Coal mining representatives and residents in favor of the mines for the economic boost and local jobs they would generate have argued mining can be done responsibly with little to no impact to the environment and quality of life in the area. Those against the mines argue they would generate cancer-causing toxins, pollute the local water table, disturb salmon and other wildlife habitat, damage nearby homes, generate dangerous truck traffic and decrease property values.

The Colorado-based Ranger Alaska LLC is considering a possible restart of the Jonesville Mine less than two miles from the heart of Sutton as Usibelli Coal Mine finishes up its exploration of its 8,000-acre Wishbone Hill property off Buffalo Mine Road.

http://dnr.alaska.gov/mlw/mining/coal/2011Jonesvillepermit-renewal.pdf.

__________________________________

Here's a full summary of BLR's
Jonesville Coal Project, Alaska, USA

In 2008 the rights to the mine, as well as two adjacent leases comprising 1,450 acres, were purchased by the Australian-based Black Range Minerals through a subsidiary called Ranger Alaska. This company holds a variety of permits related to exploration, testing, and the reprocessing of mine tailings from the Evans Coal Mine.

The Jonesville Coal Mine is considered to be a “low risk project…in close proximity to thermal dependent countries including South Korea, Japan, Taiwan and China” according to Black Range Minerals January 2009 press release.

The project comprises two leases covering 1,450 acres with coal measures found from surface through to around 800 meters depth. Twelve coal seams of thickness greater than one meter have been located at the Jonesville Coal Project mostly consisting of Highly Volatile Bituminous rank Coal.

Of these, seams #3 and #5 both reach a maximum thickness of 7Mtr's, with seam #5 averaging 6 Mtr's thickness & seam #3 averaging 4Mtr's thickness.

The thickness of the seven other Coal seams averages greater than 1.5Mtr's, with seams #7b & #6 and the lower Shaw bed locallt exibiting thicknesses of 6Mtr's, and 3Mtr's respectively.

Within the Jonesville Project the coal units are laterally extensive within a doubly plunging syncline. They are interbedded by Sandstone,Siltstone,Claystone and Carbonaceous Shales

BITUMINOUS

Bituminous coal is high-rank coal. It has high heat and low moisture contents and is harder than lower ranked coals. Bituminous coals are used in electricity generation and steel making processes, as well as, for industrial and municipal steam production applications. Bituminous coals are mined primarily in Appalachia, the Midwest and the West.

•Mined at Wishbone Hill - Sutton, Alaska

•Old coal - 50 million to 300 million years

•Very little moisture

•Low volatile matter - less than 10%

•High heat value

•Generation of steam to produce electricity

•Steel industry

Black Range Minerals speculates an inferred resource base of 130.7 million tons of coal (primarily south of the existing mine). Minor exploration occurred around the old mine site between 1990 and 1997, and in 2004, with no further mining undertaken. What came out of those years was the discovery of high quality coal resources south of the old mine site.

Black Range Minerals highlighted the access to great infrastructure: the Glenn Highway is only a little over a mile away, and the railroads are only 12.5 miles away with easy access to the port of Seward approximately 186 miles to the South, and Port Mackenzie 62 miles to the southwest and from there to the global market.

Black Range Minerals sees this as an “Opportunistic, very low cost acquisition” in which the current lease owners will get 2 percent royalty and the state of Alaska will receive 5 percent royalty on all production from the project.

Here's a brief description of what BLR's Jonesville Coal Project contains relative to Coal types.

BLR's Jonesville Project, contains Bituminous at around 12,000/12,500 BTUs-per-pound

Types of Coal

We use the term "coal" to describe a variety of fossilized plant materials, but no two coals are exactly alike. Heating value, ash melting temperature, sulfur and other impurities, mechanical strength, and many other chemical and physical properties must be considered when matching specific coals to a particular application.

Coal is classified into four general categories, or "ranks." They range from lignite through sub-bituminous and bituminous to anthracite, reflecting the progressive response of individual deposits of coal to increasing heat and pressure. The carbon content of coal supplies most of its heating value, but other factors also influence the amount of energy it contains per unit of weight. (The amount of energy in coal is expressed in British thermal units per pound. A BTU is the amount of heat required to raise the temperature of one pound of water one degree Fahrenheit.)

About 90 percent of the coal in this country falls in the bituminous and sub-bituminous categories, which rank below anthracite and, for the most part, contain less energy per unit of weight. Bituminous coal predominates in the Eastern and Mid-continent coal fields, while sub-bituminous coal is generally found in the Western states and Alaska.

Lignite ranks the lowest and is the youngest of the coals. Most lignite is mined in Texas, but large deposits also are found in Montana, North Dakota, and some Gulf Coast states.

Anthracite

Anthracite is coal with the highest carbon content, between 86 and 98 percent, and a heat value of nearly 15,000 BTUs-per-pound. Most frequently associated with home heating, anthracite is a very small segment of the U.S. coal market. There are 7.3 billion tons of anthracite reserves in the United States, found mostly in 11 northeastern counties in Pennsylvania.

Bituminous

The most plentiful form of coal in the United States, bituminous coal is used primarily to generate electricity and make coke for the steel industry. The fastest growing market for coal, though still a small one, is supplying heat for industrial processes. Bituminous coal has a carbon content ranging from 45 to 86 percent carbon and a heat value of 10,500 to 15,500 BTUs-per-pound.

Sub-bituminous

Ranking below bituminous is sub-bituminous coal with 35-45 percent carbon content and a heat value between 8,300 and 13,000 BTUs-per-pound. Reserves are located mainly in a half-dozen Western states and Alaska. Although its heat value is lower, this coal generally has a lower sulfur content than other types, which makes it attractive for use because it is cleaner burning.
Lignite

Lignite is a geologically young coal which has the lowest carbon content, 25-35 percent, and a heat value ranging between 4,000 and 8,300 BTUs-per-pound. Sometimes called brown coal, it is mainly used for electric power generation.

For those Holders unaware of the proceedings currently in play "Read On" as we should be close to attaining an outcome.

___________________________________

Public Notice: Extension of comment period Jonesville Coal Mining Permit

by Sue Deyoe ~ October 11th, 2010

At the request of the local community, the Department of Natural Resources has extended the public comment period for the renewal of the Jonesville Coal Mining Permit Renewal.

The deadline to submit written comment closes at 5:00PM on Tuesday, October 19, 2010.

An application for the renewal of the Jonesville Coal Mine Permit (U-0201) has been filed with the State of Alaska, Department of Natural Resources, Division of Mining, Land and Water (DMLW), on December 9, 2009, from Ranger Alaska, LLC, 110 N. Rubey Dr. Suite 201, Golden Colorado, 80403.

The Jonesville Coal Mine is located in the Matanuska Valley approximately 11 miles northeast of Palmer, Alaska.

The mining area is approximately 2 miles northwest of Sutton, Alaska near the southeast portion of Wishbone Hill. The mining area can be found on the USGS Anchorage C6 quad map. The mining permit area is in Township 19N Range 3E Sections 9, 16, 17, 19, 20, and 21, Seward Meridian.

This request is to renew the existing permit for an additional five-year term. There are no changes or modifications to the operation and reclamation plans which have been proposed which would significantly alter the previously approved permit. The originally approved permit met the requirements of AS 27.21 and 11 AAC 90 subject to the stipulations of the original permits.

The permit renewal procedure is part of the Alaska Surface Coal Mining Program (AS 27.21 and 11 AAC 90). Copies of the original permit, transfer and renewal application and the preliminary findings document are available for review at the Alaska Department of Natural Resources, Division of Mining, Land and Water, 550 W. 7th Ave., Suite 920, Anchorage, AK 99501-3577. Inquiries should be sent to: Chuck White, at the Anchorage address listed above, by fax to (907) 269-8930, or by e-mail to chuck [dot] white [at] alaska [dot] gov.

Any person who is or may be adversely affected by the renewal of this permit may file written comments or objections and may include with an objection a request for an informal conference (AS 27.21.140). Comments may be filed by mail, fax, or e-mail at the address above, but must be received by the Department by 5:00 pm, October 19, 2010.

Outcome Pending

Russel Kirkham from Alaska's Dept. of Natural Resources points out where a new underground mine would enter the mountain if it were built. This proposed mine would require several new permits to happen.

Russel Kirkham from Alaska's Dept. of Natural Resources presents information on a permit renewal at Jonesville coal mine.

Photo taken during DNR's presentation at Jonesville mine.

http://www.usibelli.com/

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search

Peninsula Energy In Landmark Resource Upgrade To 41 Mill Lbs Of Uranium At Lance, Wyoming

2011-06-28T07:07:00.000+10:00

Published on Tuesday June 27 2011 (AEST)-Australia

Peninsula Energy (ASX: PEN) has significantly upgraded the JORC Resource Estimate for the Lance uranium projects in Wyoming, USA, to 41.4 million pounds Uranium (U3O8).

Importantly, the Definitive Feasibility Study (DFS) incorporating the updated resource calculation is expected shortly.

The upgrade represents a 25% increase in Total Resource Estimate. There is also a 7% increase in the Measured and Indicated Resource to 11.2Mlbs U3O8. The Measured and Indicated uranium has increased to 27% of the Total Resource.

Also, the Ross Permit Area vanadium Resource has been upgraded to 2.3Mlbs vanadium V2O5.

The company has achieved this upgrade by the completion of an additional 300 drill holes since the previous upgrade in February 2011.

Gus Simpson, executive chairman, said “we are very pleased with this resource upgrade and the ongoing drill program. It continues to convert areas of mineral potential into further JORC resource and to enhance resource status from Inferred to Indicated and Measured.

This is adding significant value to the Lance project. Importantly, we will now factor this into the DFS model and publish those findings. ”

The Resource has been calculated by applying a combined constraint of a grade thickness product (GT) of 0.2 contour and 200 parts per million (ppm) U3O8.

The company considers these lower cut offs to be appropriate for both calculating and reporting of in-situ recovery (ISR) resources at the Lance Projects.

At Ross (including the Ross Permit Area) there is a now a combined Measured, Indicated and Inferred Resource of 26.2Mlbs U3O8, an increase of 19% from the updated February estimate.

Within the Ross Permit Area the combined Measured, Indicated and Inferred Resource totals 5.90Mlbs U3O8 at an average grade of 499ppm and an average GT of 0.55.

Since the previous resource estimate, drilling within the permit area has been partly designed to test the resource model by targeting the nose (high grade) portion of the roll front systems.

This drilling campaign has produced an overall increase in grade within the permit area from 478ppm to 498ppm U3O8.

Drilling outside the permit area has largely been focussed on exploration for new roll front systems and on converting inferred resource to indicated resource.

The wider-spaced exploration drilling has resulted in the overall resource grade outside the permit area marginally decreasing, however, at the same time the overall resources have increased significantly.

The Lance project covers an area of over 120 square kilometres within which there is a combined total of at least 305 line kilometres (190 miles) of known stacked roll fronts.

Of this total, only a small percentage has been explored with over 90% of the drilling concentrated within the more advanced Ross and Barber areas.

Peninsula said future in-fill drilling will be targeted at the nose (high grade) portion of the roll fronts and a general uplift in grade is anticipated.

Resource conversion and exploration drilling will continue with one rotary mud rig employed in the northern Ross area and a second rig engaged at Barber to identify additional uranium mineralisation in the area and increase the resource inventory at Barber.

On-going drilling will continue to upgrade existing Inferred Resources to Indicated or Measured Status in addition to converting the numerous areas of mineralised potential.

One drilling rig is currently dedicated to the Barber area in order to delineate sufficient mineralisation to support the planned remote ion exchange (IX) plant that will provide additional feed to the central processing plant (CCP) to be located at Ross.

Peninsula controls the majority of the surface and minerals rights in the Oshoto Region and is currently acquiring additional areas that are considered prospective for roll front style uranium mineralisation.

In February Peninsula signed a first sales agreement to supply 1.15 million pounds of uranium oxide over seven years to a Tier 1 power utility in the U.S., representing a significant milestone for the company as it will generate short term cash flows.

Peninsula has targeted 2012 to begin producing uranium from the Lance projects, and aims to become one of the largest producers of uranium in the U.S.

Click Image To Access Uranium Stocks Australia

VISIT MY OTHER SITE

australian-uranium-quick-search