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Thread: U3O8 Uranium.

  1. #181
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    hot off the press :

    http://www.theaustralian.news.com.au...%5E643,00.html


    Raisings at risk in mine ban fallout
    Nigel Wilson, Energy writer
    October 11, 2005
    MILLIONS of dollars in capital raisings for uranium floats in South Australia are under a cloud following the State ALP's unannounced decision to block new uranium mines in the State.

    South Australia, which houses two of the three operating uranium mines in the country, was the state that was expected to be the most liberal in its approach to uranium mining in the current debate about increasing Australia's uranium exports.

    State Premier Mike Rann supports uranium mining for its contribution to the South Australian economy.

    But at the weekend the South Australian Labor Party conference strengthened opposition to expanding uranium mining.

    The conference endorsed, unanimously and without debate, a platform motion that says: "Labor continues to be opposed to the establishment of any new uranium mines and any expansion into the enrichment process."









    In 2005, five companies have raised a total of $25.5 million from the sharemarket to finance the search for uranium in South Australia, their share prices rising strongly since listing.

    The Australian Conservation Foundation, which had campaigned for the ban, yesterday welcomed the move. ACF nuclear campaigner David Noonan said the ALP platform would end speculation South Australia would encourage new mines.

    "The outcome is that uranium speculators in SA - and their investors - can now have zero confidence in any commercialisation till at least 2010, if ever.

    "What this does is clearly show investors in uranium floats in this state have wasted their money," Mr Noonan said.

    There was no chance new mines would now proceed, even though the policy did not affect the two existing mines.

    Mr Noonan called on the South Australian Government to stop subsidising exploration for uranium, saying this policy - which gives some explorers a 50 per cent rebate on drilling costs - was a waste of public resources, in light of the ALP platform.

    The South Australian ALP move comes as the party nationally is increasingly riven by cross-factional attempts to overthrow its three mines policy, which has operated since 1983.

    Federal resources shadow Martin Ferguson, who supports the issue being debated at the party's national conference next year, is in Perth to speak to a uranium conference today.

    WA Premier Geoff Gallop is strongly opposed to the move but has been unable to stop the issue being placed on the WA ALP conference agenda next month.

    Last month Queensland Premier Peter Beattie rejected a suggestion by party broker Bill Ludwig that the three mines policy should be expanded.

    Mr Beattie said uranium was a major competitor to coal, and encouraging uranium mining would undermine the wealth of Queensland.

    The SA move also included the statement that:

    "Labor strongly opposes the location of a national radioactive waste repository in South Australia.

    "Given the grave concerns raised by the 2003 Senate Committee on the uranium industry in Australia about the practice of in situ leaching, Labor will ensure there is monitoring of the environmental impact of the in situ leaching method.

    "Under Labor, uranium mining has become subject to the scrutiny of the Environmental Protection Authority. Labor also introduced revised reporting arrangements for spills at uranium mines. These regimes will be maintained."

    The platform binds an ALP state government until 2010.

    Political analysts last night said that with a State election scheduled for March, the ALP wanted to avoid a public clash over uranium.



    Oil - NZO
    REE - ARU
    Copper - EQN/OXR/TMR
    Iron- AGO/ADY/UMC
    Nickel-WSA
    PGM/Gold - PLA/VRE

  2. #182
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    quote:If you want to invest in Uranium Companies within South Australia think Giant Copper Gold Uranium Deposits like Olympic Dam or tertiary Uranium.
    That's fine if they are around but Olympic Dam U308 is tied in with copper to increase U308 output you need to increase copper output and if the price of copper falls then what!

    cheers laurie

  3. #183
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    The whole uranium sector has taken a nice hit today.

    Great buying opportunity.
    aussie joe

  4. #184
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    This one is interesting when it floats towards the end of this month!
    http://www.uranex.com.au/

    cheers laurie

  5. #185
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    I think you are right Aussie Joe. I'm wanting to get back into Summit hopefully. Sold far too early months ago before the big rise. And I see Extract Resources has done well too...Darn. If the stocks stay low just for a bit longer, might be able to unload some other stuff and get some more Summits again.

    Sharp - "All things are possible"

  6. #186
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    yeah I was in SMM for a while made some nice gains but missed the 60c->90c rise. Been watching a slow slide down to 60c for the last week thinking about re-entering. Not enough support even now for 60c yet to indicate a buy, will keep watching. Why the reason for the drop off anyone?
    Holding TOX, EXT, NHEOA, ETE

  7. #187
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    quote:
    Labor uranium rethink
    Mandi Zonneveldt
    Resources
    12oct05

    SHADOW Resources Minister Martin Ferguson has given the strongest indication yet that the Labor Party will re-think its opposition to new uranium mines in Australia.
    Speaking at the Australian Uranium Conference in Fremantle yesterday, Mr Ferguson said Australia had a responsibility to provide a clean, safe source of energy to the rest of the world.
    "Whether we like it or not Australia is undeniably part of the global nuclear cycle," he said.
    "The reality is that we as a nation have to face up to our responsibilities sooner rather than later, the responsibilities that come with being the owners of globally important nuclear energy resources."
    The ALP is opposed to the development of new uranium mines in Australia, but Mr Ferguson said the party could not escape the uranium debate.
    He said the ALP's uranium policy had not been considered for a long time.
    "It's going to be an interesting debate in the lead up to the national conference in 2007," he said.
    "I adopt this view. Uranium mining is no less safe than coal mining in Australia."
    The right-wing Australian Workers Union has already called on the ALP to re-think its policy.
    Incoming ALP president Warren Mundine has also signalled that he would support a change and wants the issue raised at the party's next national conference.
    Mr Ferguson's comments come just days after the South Australian Labor Government -- expected to be the most open to the development of new uranium mines -- endorsed a motion at its state conference supporting the status quo.
    Western Australian Premier Geoff Gallop and Queensland Premier Peter Beattie are also opposed to an expansion of uranium mining, but Mr Ferguson said they would have to "front up" to the debate.
    "Uranium presents a new opportunity and over time people have to grasp these opportunities and front up to their responsibilities," he said.
    He said any decision taken to change the party's policy at a national level would be binding on the states.
    Australia is home to 40 per cent of the world's uranium resources and is already the second-largest uranium producer, behind Canada.
    The Federal Government is pushing for an expansion of the industry, with demand from China expected to easily absorb Australia's current export capacity within the next decade.
    Mr Ferguson told the conference Australia had a responsibility to make its uranium available to countries that were not self-sufficient in terms of energy and, in particular, those tackling problems with pollution.
    He said Australia also had an obligation to make sure its uranium was used for peaceful purposes and that it was safely disposed of.
    Speakers at yesterday's conference said the ALP's opposition to the development of new uranium mines was holding Australia's resource industry back.
    Ron Matthews, exploration manager for Canadian company Cameco, said the ALP's position made most of Australia's vast uranium resources inaccessible to mining.
    "I think restraints imposed by state governments have severely hampered the development of uranium mining in Australia," he said.
    "A change in the misguided perceptions of the ALP . . . is required," he said.
    The Association of Mining and Exploration Companies yesterday called for the formation of a new, industry-based lobby group to drive the debate.
    There is hope yet
    cheers laurie

  8. #188
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    Uranium up to $33/lb +$1 from last month biggest rise so far great news

    cheers laurie

  9. #189
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    how come no one is interested in ERA? ok. it myabe too big, can't give you (potential) ten-fold return, not sexy enough(!?)... mometheless, IF australia is really going to open a new uranium mine, jabiluka has to be the first choice, no question about it. yes, the mine faces the same issues as all other uranium mines have, but it's also huge, located in NT, and have full govt support.

  10. #190
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    Era is suffering because the 2 minor shareholders are selling out -- have a look at there company anouncements - may present an opportunity if they get oversold but their p/e is still pretty flash

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