U3O8 Uranium.

[trader10]

Let's talk nuclear, chief scientist says
March 1, 2006 - 7:35PM

The prospects of a nuclear powered future for Australia has received a boost, with the newly appointed chief scientist saying it will be important in solving climate change.

Dr Jim Pea****also put himself at odds with some green groups by describing genetically modified (GM) foods and crops as having an essential role for the nation's agriculture.

A plant science expert and president of the Australian Academy of Science, Dr Peacock's appointment was announced yesterday.

He says nuclear power is part of the mix of solutions to curbing the emissions of greenhouse gases.

"Everyone's concerned with what the portfolio of energy-generating sources will be," Dr Pea****told ABC radio.

"In my view, I think it's really time to reassess and discuss the possibility of using nuclear-based power."

Dr Pea****said he had long been involved with the application of genetically modified plants in agriculture.

He said there was still much concern in the community about GM crops and foods.

"It's clear that we still need to have a lot of discussion, and hopefully generation of understanding, of what this technology can really benefit Australia with," he said.

"The integration of these technologies into our agribusiness will be essential for the future."

Asked about the recent controversy over the alleged gagging of CSIRO scientists on policy-sensitive issues, Dr Pea****said he did not agree there had been a muzzling of scientists.

"Scientists do have freedom to report factual information on their specialty topics and (I) think there's a good history of that in Australia," he said.

"In staying part time with CSIRO, I won't change at all, as far as I can see the way I've acted in the 40 years I've been with CSIRO.

"I've never been asked to not talk about any particular topics."

He says that criticism of his predecessor, Dr Robin Batterham, over his role as a highly paid employee of mining giant Rio Tinto while being chief scientist, was undeserved.

"I know there was some perception that Robin Batterham had some conflicts of interest because of his association with Rio Tinto," he said.

"But I thought he acted impeccably as chief scientist.

"I certainly don't anticipate any conflicts of interest in having a role as an active scientist in CSIRO as well as the role of chief scientist."

Environment Minister Ian Campbell welcomed Dr Peacock's views.

"I think Dr Pea****will make a great contribution because he's a great scientist. If he's got the views that he's reported to have about the role that nuclear can play in a low-carbon, carbon-constrained future, then that will be good for an informed debate about Australia's energy future and the world's energy future," Senator Campbell said.

Senator Campbell said he did not believe this was a green light for nuclear power plants in Australia.

"From what I know, nuclear energy is unlikely to be a cost-effective option for Australia in the foreseeable future because got such abundant supplies of, for example, natural gas."

Greens senator Christine Milne said Dr Peacock's advocacy of nuclear power and genetic engineering would be a force for conflict and division rather than unity.

"There is already considerable concern that under Dr Peacock's watch at CSIRO, ecosystem-based agriculture and land management has been downgraded in favour of high-tech genetic engineering," she said.

"His elevation to chief scientist sends all the wrong messages to conservationists who will be watching to see if the research dollars continue to flow out of ecosystem research and renewables to GE (genetic engineering) and nuclear power, just as under his predecessor the coal industry was boosted at the expense of renewable energy."

http://www.smh.com.au/news/national/lets-talk-nuclear-chief-scientist-says/2006/03/01/1141191725353.html

T10 :D

[laurie]

quote:"His elevation to chief scientist sends all the wrong messages to conservationists who will be watching to see if the research dollars continue to flow out of ecosystem research and renewables to GE (genetic engineering) and nuclear power, just as under his predecessor the coal industry was boosted at the expense of renewable energy."

Gees negative,negative of course if he went their way he would be a hero typicial Dr Brown mob I say "Let The Prick$ Freeze In The dark"

cheers laurie

[trader10]

http://www.miningnews.net

The pricing of yellowcake

Thursday, March 02, 2006

GOLDMAN Sachs JBWere commodities analysts Malcolm Southwood, Paul Gray and Marc Bonter shed some light on the pricing mechanics of the opaque uranium market in a report on the sector published last month.



Uranium trading is predominantly a direct deal between buyers and sellers. Contracts traditionally specify a base price, such as the spot price, and rules for escalation – often relating to economic indices.

Spot market pricing usually quotes one of several market information services such as Ux or TradeTech, with quantities varying from 50,000 to a few hundred thousand pounds.

According to the world's largest uranium producer Cameco (as quoted by Goldman Sachs), around 15% of the western world's uranium requirements have been procured in the spot market (for delivery within 12 months of contract award) over the past few years.

The remaining 85% or so is sold under long-term, multi-year contracts with deliveries starting one to two years after contract award.

Long-term contract terms range from two to 10 years, but typically run three to five years, with first delivery occurring within 24 months of contract award.

"To diversify market risks, producers and utility customers often maintain a mix of contract terms and pricing mechanisms in their contract portfolios," the Goldman Sachs analysts said.

"Historically, buyers have tended to pay a premium in long-term contracts, compared to spot prices, because they can achieve secure supply at prices that are more predictable.

"From a seller's perspective, long-term contracts can provide essential guarantees in a capital intensive business.

"However, even producers that sell only on the long-term market generally have exposure to spot prices because most contracts have pricing mechanisms that reference the spot market price at the time of delivery.

"We understand that most new long-term contracts are currently being set with a floor price at least $US30/lb with built-in escalators and exposure to rising spot prices."

Goldman Sachs' report on the uranium market last month also featured TradeTech's long-term assessment of the base price at which long-term contracts are currently being set – with the price rising from $9.50/lb in 2000 to $36.50/lb in 2006.

According to the analysts, Cameco – said to have around 19% of world production – sells its output on a 60:40 mix of market related and fixed price mechanisms, with most new contracts having a duration of at least 10 years, with floor prices set around 80% of the prevailing spot price (with built-in escalators).

Emerging Australian uranium player Paladin Resources said last year that the bankable feasibility study completed for its Langer Heinrich project in Namibia incorporated a pricing schedule ranging from $26-35/lb over a 15-year production period.

In January, the company said it had signed its first sales contract – with a "major US utility" – incorporating 2.14 million lb for delivery between 2007 and 2012, with pricing to be market related and determined at time of each delivery (and featuring escalating floor and ceiling price components).

A second contract was subsequently unveiled that same month for 2.08Mlb over the same period, with Paladin's comments on pricing a carbon copy of the earlier announcement.

http://www.miningnews.net

U POWER LOOKING GOOD FOR AUS ;)

T10:)

[trader10]

http://www.miningnews.net

Technology targets new style of uranium for UXA

Thursday, March 02, 2006
Michael Vaughan

URANIUM Exploration Australia says it has used new in-house technology to find a "newly recognised style of deposition of uranium mineralisation" in South Australia's Gawler Craton region and plans to drill the targets, along with a number of more conventional anomalies, in the next quarter.



When contacted by MiningNews.net UXA executive chairman Neill Arthur was particularly guarded, not wanting to reveal the company's "competitive advantage" at this point in time.

"Obviously we've got some in-house technology, which is able to find uranium from the surface, which other people haven't been able to do in Australia," Arthur said.

"One of those keys is the types of rocks and surface cover involved so we want to keep that to ourselves for the moment, for the benefit of our shareholders."

Arthur did say the technology used to identify the mineralisation was not being used by any other company, to his knowledge.

"If you look at our prospectus there's quite a good discussion of the various types of rocks that uranium is found in around the world but we've put together a different concept," Arthur said.

"As well as looking for uranium in those styles of rocks, we've found other styles of rocks where the indications are quite significant."

UXA's prospectus states the company's uranium exploration strategy is based on the prominence of the world's largest known uranium concentration – BHP Billiton's Olympic Dam.

It says the three most important styles of uranium mineralisation are ferruginous or haematitic granitic breccias, unconformity vein style and that found in sandstone and calcrete-hosted rocks.

The company says "several" of the 10 targets that it has identified in its 4000 square kilometre ground holding in the "mineralised corridor" of the Gawler Craton were of the new style. The company has projects to the south-west of Olympic Dam and south-east of Oxiana's Prominent Hill.

UXA used more traditional airborne radiometric surveying, along with field mapping and surveying, to identify the rest of the 10 targets.

Seven of these targets, at estimated depths of 50-350m, will be drill tested in a 3450m drilling program budgeted at $A520,000, and set to start in April.

UXA hit the boards in late November last year on the back of a $6 million initial public offering at 20c per share.

Along with Arthur, the company's board consists of Martin Place Securities managing director Barry Dawes, chairman of Cluff Resources Pacific and Central West Gold Stephen Gemell.

Uranium geologist David Hawley is the company's managing director.

Shares in the company jumped 1.5c (8.3%) on the news to 19.5c but were unchanged in morning trade.

http://www.miningnews.net

http://www.miningnews.net/images/drumofuranium.jpg

T10 ;):)

[johnno261]

www.minesite.com/storyFull5.php/storySeq=3295

[trader10]

Toronto will host one of the largest mineral conventions in the world next week.

Toronto, Canada – Wednesday, March 1, 2006. Companies and people in mineral exploration and mining will be coming to Toronto from all parts of the world for the annual international convention of the Prospectors and Developers Association of Canada [PDAC]. The event will be held in the North Building, Metro Toronto Convention Centre, from Sunday, March 5 to Wednesday, March 8.

The convention is expected to attract over 13,000 attendees this year, including delegations from over 35 countries. It is estimated that the convention will add revenues of $16.5 million to Toronto’s economy.

Canada is a world leader in mineral exploration and this country’s influence in exploration expertise and technology is recognized throughout the world. Currently, there are between 600 and 700 Canadian exploration companies working abroad on 3,500 exploration projects.

Mineral exploration is also important on the home front. In 2005, over $1 billion was spent in Canada by companies in search of new mineral deposits. This country ranks as the third largest diamond producer, behind Botswana and Russia.

While the mineral industry contributes significantly to the economies of northern, rural and aboriginal communities in Canada, Toronto is one of the chief mining centres of the world. The city is home to a vibrant mining community, including 40 mining companies, 125 exploration companies, 600 service and equipment suppliers, 50 mining analysts, and numerous consulting and engineering firms.

The Toronto Stock Exchange plays an important role in mining. An estimated 50% of the venture capital for exploration and mining projects around the world is raised on the TSX or the TSX-Venture.

The demand for mineral products, particularly from China, is adding urgency to the search for minerals. This is an exciting industry, full of fascinating stories, people, and events. PDAC convention offers a fabulous opportunity to meet these people and to hear the stories firsthand.

Full details of convention activities are at www.pdac.ca/pdac/conv/index.html but call me ahead of time if you would like some ideas for articles or programs. The media centre at the convention will be open for the duration of the convention. For information and accreditation, send an email to info@pdac.ca or come to the media centre, room 201F, North Building, Metro Convention Centre.

Saley E. Lawton [Ms.]
Director, Communications
slawton@pdac.ca; tel 416 362 1969, ext. 225


T10 ;)

[trader10]

Toronto hosting one of the largest mineral conventions in the world this weekend

Toronto PDAC 5-8 March

http://www.pdac.ca/pdac/conv/

Look at Class A Corporate Members at the Conference

http://www.pdac.ca/pdac/members/senior-corporate-members.html#Class_A_

T10 :D;)

[johnno261]

Sorry people got the link correct this time:

www.minesite.com/storyFull5.php?storySeq=3295

Enjoy the reading

[trader10]

Australia 'won't sell uranium to India'
March 3, 2006

Australia will not sell uranium to India until it signs the nuclear non-proliferation treaty (NPT), Foreign Minister Alexander Downer says.

India has called on Australia to change its long-held uranium export policy after signing a pact to buy nuclear technology from the US.

The call comes on the eve of a visit to India by Prime Minister John Howard.

Mr Downer applauded the US deal, saying it would open India's civilian nuclear industry to United Nations inspectors.

Australia holds the world's largest uranium reserves and has two major safeguards for uranium export: countries must be signatories of the NPT, and must have a bilateral safeguards deal with Australia.

"It would be asking us to take quite a big step to change our policy on uranium exports to include countries that haven't signed the NPT," Mr Downer told reporters in Adelaide.

"I think elements of the Australian community would feel uncomfortable with that and to be honest with you, I think it has been a good policy and has served us well for 30 years and we don't have any plans to change it."

Mr Downer described the US-India agreement as a "very important step forward".

"What it does do is it draws India into the mainstream of the international community in opening up its civil nuclear program to UN inspection," he said.

Australian uranium industry experts backed the government's position.

The Uranium Information Centre said while India was potentially a significant market, it couldn't see Australia changing its policy.

"We have very strict rules and we take some pride in this," the centre's general manager Ian Hore-Lacy said.

"There wouldn't be any political will on either side of the politics to change that in the foreseeable future.

"Australia wouldn't even initiate negotiations on a bilateral agreement without the NPT."

Major uranium miner Energy Resources of Australia (ERA) also supported the government position.

"We currently have no dealings with India," ERA chief executive Harry Kenyon-Slaney said.

"We take our lead, as with all safeguard issues, from the Australian government."

© 2006 AAP

http://www.theage.com.au/news/National/Australia-wont-sell-uranium-to-India/2006/03/03/1141191821626.html

T10 [8D];)

[trader10]

Asia cautiously optimistic on US-India nuclear deal

Time is GMT + 8 hours
Posted: 3-Mar-2006 16:13 hrs

An Indian policeman at the Old Fort in New Delhi, where US President George W. Bush delivered a speech during his visit to the Indian capital. The nuclear deal between the United States and India received a mostly positive response in the Asia Pacific, with Japan and Australia leading the upbeat assessments but China voicing caution

The nuclear deal between the United States and India received a mostly positive response in the Asia Pacific, with Japan and Australia leading the upbeat assessments but China voicing caution.
.
US President George W. Bush and Indian Prime Minister Manmohan Singh signed the deal in New Delhi on Thursday that paves the way for the lifting of three-decade-old restrictions on sharing civilian nuclear technology.
.
Bush and Singh hailed the deal as historic, with the arrangement being seen as a landmark moment in bilateral ties that have steadily improved following decades of strained relations that date back to the Cold War.
.
China voiced the strongest official note of regional caution shortly after the deal was announced when it said New Delhi and Washington must follow global nuclear non-proliferation rules.
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"Cooperation must conform with the requirements and provisions of the international non-proliferation regime and the obligations undertaken by all countries," foreign ministry spokesman Qin Gang said on Thursday.
.
India and similarly nuclear-armed regional rival Pakistan have refused to sign on to the Nuclear Non-Proliferation Treaty.
.
However China, whose containment was believed to be one reason for the United States wanting to embrace India on the nuclear issue, publicly refrained from saying anything more critical.
.
Key regional US ally Japan, which is also seeking closer relations with India, welcomed the deal and rejected assertions that New Delhi should be held to the same standards as international pariah North Korea.
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"India is a country that shares the values of freedom, democracy, basic human rights and the rule of law with the United States and Japan," Chief Cabinet Secretary and government spokesman Shinzo Abe told reporters.
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"It is wrong to discuss the Indian nuclear issue and that of North Korea on the same level."
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Japan and the United States, along with China, South Korea and Russia, are involved in long-running diplomatic efforts to convince Pyongyang to abandon its nuclear weapons program.
.
Like India and Pakistan, North Korea is not a signatory to the Nuclear Non-Proliferation Treaty.
.
Australia welcomed the US-India deal, saying Washington had at least convinced New Delhi to open up its civilian nuclear reactors to inspections from the UN's nuclear watchdog, the International Atomic Energy Agency.
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"It's a good step forward in what's been a difficult situation," Foreign Minister Alexander Downer told public radio.
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But Downer ruled out lifting a ban on uranium exports to India while New Delhi continued to refuse to sign the non-proliferation treaty.
.
"It would open up questions of whether we'd export uranium to countries like Israel and Pakistan as well and I think it's probably easier for us to support the current policy," he said.
.
In Pakistan, where Bush was due to travel following his visit to India, officials expressed hope the United States would give Islamabad the same kind of civilian nuclear help as it had just extended to New Delhi.
.
"We hope that we will also get the same kind of cooperation," Pakistani foreign ministry spokeswoman Tasnim Aslam told AFP on Thursday.
.
However Pakistan looked extremely unlikely to receive such an offer with memories still fresh of Pakistani atomic scientist Abdul Qadeer Khan leaking nuclear secrets to Iran, North Korea and Libya.
.
Meanwhile, IAEA Director General Mohamed ElBaradei said the US-India deal would boost non-proliferation efforts.
.
Ralph Cossa, a regional analyst and director of the Pacific Forum in Honolulu, Hawaii, said most Asian nat

[trader10]

http://dailytelegraph.news.com.au/story/0,20281,18363985-5001028,00.html

Howard 'following Bush on uranium'


March 06, 2006

PRIME Minister John Howard was again holding on to the coat tails of US President George W. Bush in considering selling uranium to India, Labor's resources spokesman, Martin Ferguson, said today.

Australia should decide what was right on the issue, not simply follow America, he said.

Mr Howard, visiting New Delhi, said he would be happy to listen when his Indian counterpart today asked if his country could buy Australian uranium.

Mr Bush last week signed a historic nuclear accord with India.

Although details of the nuclear pact were not been released, negotiators had been working on a deal under which the US would extend civilian nuclear technology to India if it agreed to separate its military and civilian atomic facilities.




India has not signed the international nuclear non-proliferation treaty (NPT).

"John Howard has indicated he is open to selling uranium to India based on an agreement between India and George Bush which has not even been approved by the US Congress," Mr Ferguson said.

"It's for us to determine as an independent nation what's right for the export of our uranium, not to follow on the coat tails of the US."

Mr Ferguson said Australia's policy restricting uranium sales to countries that were signatories to the NPT and with whom Australia had bilateral safeguards agreements had been in place since 1977 and had served the country well.

"Australians want to know that our uranium is used for peaceful purposes only and it is a real concern to me that the UN failed to strengthen the NPT last year," he said.

Mr Ferguson said Mr Howard's response to the deal was at odds with those of Foreign Minister Alexander Downer.

"Alexander Downer said on ABC radio on Friday that a decision to export uranium to India would constitute a significant shift in Australian policy which had been developed over many years going back to the Fraser government," he said.

"As the world's second largest supplier of uranium, Australia has an obligation to strengthen, not undermine, the NPT."



T10 :D;)

[trader10]

http://www.tmcnet.com/usubmit/2006/03/06/1430571.htm

March 06, 2006]


DJ Australian Resources Minister Expects New Uranium Mines

(Comtex Business Via Thomson Dialog NewsEdge)CANBERRA, Mar 06, 2006 (Dow Jones Commodities News Select via Comtex) --Resources Minister Ian Macfarlane Monday tipped new uranium mines would be developed in Australia within the next year.

Macfarlane said he'd yet to receive any applications for mining licenses from the companies that currently hold about 30 uranium exploration permits in Northern Territory state.

"I'll be disappointed if we don't see some new mines being developed over the next year or so," he told ABC Radio in Darwin.

Australia has about one-third of the world's uranium reserves and the government strictly monitors the sale of the fuel source to ensure it's only used for electricity, not weapons.

Under the government's current policy, Australia only sells uranium to countries who are signatories to the nuclear nonproliferation treaty.

India, which hasn't signed the nonproliferation treaty, is seeking access to Australia's uranium to help meet its growing need for energy.

Indian Prime Minister Manmohan Singh last week signed a nuclear pact with the U.S. for nuclear cooperation between civilian organizations. The pact will open India's civilian nuclear facilities to international inspectors.

Prime Minister John Howard, in India on a trade mission, Sunday appeared to soften Australia's stance on selling uranium to India, saying uranium exports to India may be considered if appropriate safeguards are met.

But Macfarlane said India was not a potential market for Australian uranium.

"Australia has a very clear policy that we don't trade with those countries who don't have a nonproliferation agreement and who haven't signed the safeguard agreement," Macfarlane said.

"My understanding is that America is prepared to enter into agreements in relation to civil nuclear technology as it relates to generation of electricity and that is an area where the Americans have some expertise," he said.

"It's not an area where Australia has any real expertise bearing in mind that we don't have a nuclear power station in Australia."

Australia is in talks to sell uranium to China, which is a signatory to the nonproliferation treaty.

Macfarlane said the negotiations with China were progressing well.

Three uranium mines operate in Australia at present: Ranger in the Northern Territory; Beverly in South Australia; and BHP Billiton's (BHP.AU) Olympic Dam project, also in South Australia.

Energy Resources of Australia Ltd. (ERA.AU), majority owned by Rio Tinto Ltd. (RIO.AU), operates Ranger and Heathgate Resources, an affiliate of California-based General Atomics, operates the Beverly Uranium Mine.

Interest in Australian uranium has spawned a host of junior exploration companies, including Redport Ltd. (RPT.AU), Canada's Cameco Corp. (CCJ), Compass Resources NL. (CMR.AU), Jindalee Resources Ltd. (JRL.AU), Deep Yellow Ltd. (DYL.AU), Areva's (427583.FR) Cogema mining unit and Arafura Resources NL (ARU.AU).



Australian-based Paladin Resources Ltd. (PDN.AU) is constructing the Langer Heinrich uranium project in Namibia.

-By Barbara Adam, Dow Jones Newswires;
61-2-6208-0901; barbara.adam@dowjones.com
-Edited by Paul Dekkers
(END) Dow Jones Newswires

03-06-06 0056ET

http://www.tmcnet.com/usubmit/2006/03/06/1430571.htm

T10 :D;)

[trader10]

http://www.boston.com/news/world/asia/articles/2006/03/06/australia_pm_says_may_consider_uranium_sale_to_ind ia/

Boston Globe, United States - 20 minutes ago


Australia PM says may consider uranium sale to India
March 6, 2006

NEW DELHI (Reuters) - Australia will consider selling uranium to India if it is convinced about New Delhi's commitment to follow global nuclear safeguards for its civilian atomic reactors, Prime Minister John Howard said.

Howard's comments came as he began a four-day visit to India late on Sunday, days after New Delhi and Washington sealed a landmark nuclear deal that is expected to give India access to the global market for fuel and reactors to meet its soaring energy needs.

Australia has almost half of the world's known uranium resources and it is keen to increase exports but its policy rules out sales to countries like India who have not signed the Nuclear Non-Proliferation Treaty (NPT).

But the issue was expected to figure high on the agenda of talks between the two sides as Indian Prime Minister Manmohan Singh said he would ask his Australian counterpart to back the nuclear deal between New Delhi and Washington.

"We do have a longstanding policy of only selling uranium to countries that are part of the NPT regime, but we will have a look at what the Americans have done and when we get a bit more information about that we'll further assess it," Howard said in comments released by his office in Australia.

"Australia does have large supplies of uranium ... and provided the rules are followed and the safeguards are met, we are willing to sell, but we have to be satisfied about the safeguards," he said.

Howard termed the India-U.S. nuclear pact as a positive development and said Australia had a very positive attitude toward New Delhi.

"I welcome the fact that for the first time a lot of India's nuclear capacity is going to be subjected to international inspections, that's certainly a big step forward.

Ties between New Delhi and Canberra had soured after India conducted nuclear tests in 1998 and Howard, in an interview to Reuters last week, said Australia would not sell uranium to India under current policy.

India's Singh hopes that that policy would change.

"I hope Australia will be an important partner in this. We are short of uranium. We need to import uranium and our needs will increase in years to come," he told The Australian newspaper in an interview published on Monday.

Howard said he would give Singh a proper hearing, the Australian Associated Press reported.

India, Asia's third-largest economy, is looking to meet its growing energy needs through nuclear power but it has less than one percent of the world's uranium reserves.

Nuclear power now accounts for a paltry 3 percent of India's total energy production.

Under its pact with the United States -- agreed during last week's visit to south Asia by President George W. Bush -- India has to separate its civilian and military nuclear plants and place the former under international safeguards to prevent proliferation.

http://www.boston.com/news/world/asia/articles/2006/03/06/australia_pm_says_may_consider_uranium_sale_to_ind ia/

BEND OVER HOWARD !

T10 [}:)]

[laurie]

South Africa would only be too pleased to supply India with uranium EXT needs a customer when it find U308 & PDN ;)

cheers laurie

[trader10]

heheheeh naughty Laurie.... I like u ;)

[:I]

T10

[trader10]

http://www.thestar.com/NASApp/cs/ContentServer?pagename=thestar/Layout/Article_Type1&c=Article&cid=1141599010490&call_pageid=968350072197&col=969048863851

Toronto Star, Canada

Prospectors converge on Toronto

India, China fuelling unprecedented, sustained demand
GTA hosts 13,000 starting today, as mining's global capital
Mar. 6, 2006. 01:00 AM
LISA WRIGHT
BUSINESS REPORTER


The centre of corporate Canada transforms into the Klondike today as thousands of prospectors descend on the Metro Toronto Convention Centre to pan for the next potential mother lode — and the bucks to back it up — amid unprecedented boom times in the mining business.

Red-hot prices for everything from glamorous gold and diamonds to unseen uranium and zinc have organizers of this week's Prospectors and Developers Association of Canada conference expecting a record crowd of more than 13,000 people hoping to strike it rich in the search for and development of new projects around the globe.

"Mining's back" is the theme of the 74th annual conference. It couldn't be more fitting as the industry struggles to find sizeable deposits and build new mines to feed the seemingly unstoppable growth of hungry economies like China and India.

Investors are jumping on the bandwagon again as a result. Exploration funding finally came back in recent years to create one of the biggest bull markets ever seen in resources. The sectors struggled through most of the 1990s during the dot-com craze.

"That certainly is the vibe. We're right on top of a big recovery right now, and Toronto has become the mining capital of the world," said PDAC executive director Tony Andrews.

"All of the commodities are big. I can't think of one that hasn't been affected by the recent boom. Our industry's biggest challenge is supplying the demand over the next few decades," he said.

By day the delegates will scoop up industry dirt while scoping out the hundreds of trade show booths, exhibits, luncheon speeches and technical workshops on offer. There are draws to win a stunning 1.1-carat diamond and gold bars and coins.

By night they'll network at company-sponsored receptions being held at the Fairmont Royal York Hotel — including a Solid Gold 70s-themed wrap party Wednesday night — and kicking back into the wee hours with old friends as has been the tradition since the convention started in Toronto in 1932.

It's been held here every year but has grown from a Canadian-focused event to an international phenomenon pumping $16.5 million into the local economy.

It draws everyone in the mineral exploration business from the guys staking claims in the bush to bankers and brokers, geoscientists and mining executives from the juniors to the seniors from 100 countries.

"If you say `prospector' you get an image of a guy in a crumpled hat sitting by a stream panning for gold. But it's an all-encompassing term that includes everyone from geophysicists to engineers and geologists," said Rod Thomas, president of Diadem Resources Ltd., a Toronto-based diamond and gold explorer.


--------------------------------------------------------------------------------
`Toronto has become the mining capital of the world'

Tony Andrews, Prospectors and Developers Association of Canada

--------------------------------------------------------------------------------


"And a lot of transactions take place at this convention. A lot of properties get optioned," said Thomas, also chairman of the planning committee for this year's convention.

Global exploration spending last year totalled $5 billion and 20 per cent of that was spent in Canada.

Over half of the venture capital for exploration and mining projects around the world is raised on the TSX and the TSX Venture.

In fact a lot of the penny mining stocks get a boost at this time of year after talking up their business at this convention, considered the largest and most influential in the industry.

Plenty of folks are champing at the bit to tell their stories, including Don Bubar, chief ex

[trader10]

http://www.miningnews.net

Another day for uranium

Michael Quinn
Tuesday, March 07, 2006

GLOBE Resources enjoyed another stunning day on the ASX, with the uranium hopeful posting a 71% jump in its share price after rising 31% yesterday. Meantime, the rest of the resources sector was relatively soft as per base metals prices (and a slide in the gold price), while the All-Ords fell 0.49%.

Growth company Oxiana was a clear highlight at the big end of town, though those who attribute the interest to the heavily over-subscribed Toro Energy IPO appear to be overlooking Minotaur Exploration. While both companies hold a 25% stake in Toro, Minotaur closed unchanged at 64c.

Gold stocks were mainly down as the precious metal dropped around $US11 per ounce to $US550/oz, with Agincourt Resources the only miner in positive territory. Elsewhere, a Sydney fund manager told Dow Jones a large shareholder is seeking bids from institutional investors for around $A20 million of Bendigo Mining at $2.30 per share.

There wasn't much selling in Globe shares though, with managing director Mark Sumich unlikely to be feeling the –2C in Toronto at the moment as he travels between the PDAC gabfest and his hotel.

Globe's new project in Malawi is clearly a hook for investors and traders who only have to look at Paladin Resources' share chart to get some inspiration.

Other uranium stocks enjoying buying interest included Acclaim Exploration (up 12.5%), Arafura Resources (8.7%), Mindax (7.69%), Scimitar Resources (6.25%), Valhalla Resources (5.36%) and Uranium Exploration (5%). In terms of trading in the days ahead, the cautious may note that many of the bigger performers in the uranium sector yesterday (ex-Globe), gave back at least some of the gains today.

http://www.miningnews.net

T10 ;)

[trader10]

Reuters India, India - 26 minutes ago

http://in.today.reuters.com/news/NewsArticle.aspx?type=topNews&storyID=2006-03-07T141731Z_01_NOOTR_RTRJONC_0_India-239560-1.xml

Australia opens door for uranium to India - analyst
Tue Mar 7, 2006 2:34 PM IST



By James Grubel

CANBERRA (Reuters) - Australia has opened the door to future uranium sales to India but would not want to consider the issue for several years and not until Australia has locked in lucrative sales to China, a leading analyst said on Tuesday.

"Australia doesn't need to sell to India at the moment. It has everything to gain by first signing an expanded agreement with China," said Michael McKinley, from the Australian National University's school of international relations.

Prime Minister John Howard has discussed uranium sales with his counterpart Manmohan Singh during a visit to India just days after India and the United States signed a landmark nuclear cooperation agreement.

Under that deal, India promised to separate its civilian and military nuclear programmes, allowing international inspections for the bulk of its power stations.

Howard said officials would examine the U.S.-India agreement, but repeated Australia's policy of not selling to countries that have not signed the Nuclear Non-Proliferation Treaty, and which do not have a safeguards agreements with Australia.

Australia has more than 40 percent of the world's known uranium reserves and is keen to increase production and exports, although it has no nuclear industry of its own.

Canberra is negotiating a nuclear safeguards agreement with China, allowing it to sell uranium to help meet China's rapidly growing energy market.

China is expected to build 40 to 50 nuclear power plants over the next 20 years, while India is looking to boost its nuclear power industry, which currently accounts for only three percent of energy production.

Media reports said Australia could sign the nuclear safeguards agreement with China as early as April, when Chinese Premier Wen Jiabao visits Australia.

The Age newspaper said Howard raised the prospect of sales to India but then ruled out a change of policy the next day, creating confusion on his India visit.

"Maybe he mostly wanted to be polite to his Indian hosts, who would like to get hold of the vital resource," columnist Michelle Grattan wrote in the Age.

McKinley said Howard wanted to hold out the prospect of future sales but wanted to also send a message to China that Australia would not simply follow the U.S. over the issue.

He said if nuclear-armed India maintained a distinction between its civilian and military nuclear industries, Australia could find a way to sell uranium by saying India had complied with the Nuclear Non-Proliferation Treaty, even though it had not signed up.

"If they can maintain a clear demarcation, there may be grounds for Australia to take advantage of it," he said, adding that Australia would find itself under pressure from India and the United States to approve sales in a few years.

Australia currently has 19 nuclear safeguard agreements, covering 36 countries, including the United States, France, Britain, Mexico, Japan, Finland and South Korea.

Australia has only three operating uranium mines, which are owned by BHP Billiton Ltd./Plc, Rio Tinto Ltd./Plc and General Atomics of the United States.

T10 :)

[trader10]

http://www.theaustralian.news.com.au/common/story_page/0,5744,18374071%255E2703,00.html

China lines up for our uranium

Rowan Callick, China correspondent
March 07, 2006


CHINA is campaigning strongly against allowing India access to uranium without signing the nuclear Non-Proliferation Treaty, while hoping Premier Wen Jiabao can ink an agreement in Canberra next month giving Beijing the green light to buy uranium from Australia.

Beijing's position on India reflects both its multilateral diplomatic stance as a founding member of the treaty and its own anxiety about gaining access to reliable supplies as it plans to build about 20 nuclear power plants in the next 15 years.

While China and India have been moving closer in recent years at the political level -- in part because they take an increasingly aligned approach to economic management -- they are fierce competitors in seeking the energy resources needed to sustain their rapid growth.

China has not yet commented officially on the prospect of Australia allowing uranium sales to India, but it made strong remarks during US President George W. Bush's visit to India last week.

Foreign Ministry spokesman Qin Gang said: "As a signatory country (to the NPT), China hopes non-signatory countries will join it as soon as possible as non-nuclear-weapon states, thereby contributing to strengthening the international non-proliferation regime."









International safeguards had been hard won, Mr Qin said, and should not be weakened by exceptions. "China hopes that concerned countries developing co-operation in peaceful nuclear uses will pay attention to these efforts," he said.

Official media have been more outspoken. Xinhua news agency said: "There are concerns that the move (the India-US nuclear deal) may set a bad example to other countries, as India has refused to sign the NPT after it conducted nuclear tests in 1998."

At the same time, China has increased its pressure on Australia to start selling it uranium, of which Australia has 30per cent of global reserves. This is emerging as the latest of a series of tests devised by Beijing to weigh Canberra's "friendliness" -- with the prospect of a favourable free trade agreement its most enticing carrot.

Australia has accorded China -- now its second trading partner -- "market economy" status, and has been viewed as increasingly friendly on other key issues including Taiwan.

Chinese ambassador Fu Ying told a Melbourne lunch three months ago that China was able to meet its military needs for uranium from domestic sources, allowing imports to help nuclear power reach its target capacity of 4 per cent of China's energy needs by 2020.

Madame Fu said Beijing was discussing with Canberra an agreement confirming the peaceful use of energy obtained from the products of Australian uranium mines, a number of which she had already visited. Such a deal is set to form the centrepiece of Mr Wen's visit to Canberra early next month.

In his state of the nation address opening China's annual parliament session on Sunday, Mr Wen vowed to "accelerate the development of an environment-friendly society" less reliant on heavy pollutants including China's domestic coal, its dominant energy source -- which also claimed the lives of 6000 miners last year.

Ms Fu said the Chinese embassy was watching very closely the positions on uranium exports of Australian political parties and of the states with deposits.

http://www.theaustralian.news.com.au/common/story_page/0,5744,18374071%255E2703,00.html

T10 :D;)[}:)]

[trader10]

http://www.theaustralian.news.com.au/common/story_page/0,5744,18371214%255E601,00.html

Demand hots up for uranium play

AAP
March 07, 2006

RENEWED investor hunger for uranium stocks has resulted in an $18 million share offer for junior explorer Toro Energy closing early and heavily oversubscribed.

The company closed its initial public offer four days early after receiving applications for more than $52.5 million worth of stock, making the offer more than 190 per cent oversubscribed.

Toro is being formed by the spin off of the uranium assets of Oxiana and Minotaur Exploration, with a priority offer being made to the shareholders of the two parent companies alongside a public offer.

Toro yesterday warned that the huge amount of interest in the offer meant many applicants could see their share allocations scaled back or declined.

A spokeswoman for Oxiana said that with preference being given to Oxiana and Minotaur shareholders, few shares would be allocated to applicants in the public offer.

Toro has 26,000 square kilometres of exploration tenements in South Australia's Gawler and Curnamona Cratons and State Resources Minister Paul Holloway has given his consent for it to search for and mine uranium.

The final hurdle for the formation of the new company will be gaining the approval of Minotaur shareholders, with a meeting set for March 14.

Yellow cake stocks became hot commodities in 2005, as the uranium price rose dramatically and political debate about nuclear power raised the prospect of regulatory changes to open up the market.

There is strong demand for uranium, with China planning to power its growth with the development of dozens of new nuclear power stations.

Prime Minister John Howard has also helped fuel interest in uranium stocks by hinting that Australia could follow the US lead in allowing the sale of uranium to India.

Intersuisse mining analyst Paul Gooday said while there was scepticism about some of the uranium plays that hit the market last year, there was also a strong belief that uranium demand and prices would remain strong. "There has been a bit of a balancing act between that scepticism and optimism and it is sort of tipping towards optimism at the moment," he said.

Allocations for the Toro share offer are due to be announced on March 16.

http://www.theaustralian.news.com.au/common/story_page/0,5744,18371214%255E601,00.html

T10 :D

[trader10]

http://www.theadvertiser.news.com.au/common/story_page/0,5936,18371719%255E913,00.html

Massive support for state venture
By CAMERON ENGLAND

07mar06
URANIUM|IPO offer

SOUTH Australian uranium stocks have never been hotter, with the state's largest-ever uranium exploration start-up company yesterday announcing strong support for its imminent stock exchange listing.

But Adelaide's growing group of uranium exploration companies still face legislative uncertainty, with the caretaker Labor Government still committed to the federal Labor Party's "no new mines" policy on uranium.

Minotaur Exploration and Oxiana yesterday announced that the initial public offer of shares in its $36 million uranium joint venture, Toro Energy, had closed early after receiving strong support.

The offer was closed four days early after applications for $52.5 million in stock, well above the $18 million Toro was seeking, were received.

Minotaur managing director Derek Carter, speaking from a mining conference in Toronto, Canada, said the support had been overwhelming.









The Toro announcement caps a big week in uranium exploration in the state. Last week Monax Mining and InterMet Resources released new details of paleochannels - the ancient river beds associated with uranium mineralisation - on their tenements.

And yesterday Marathon Resources said it had discovered "significant uranium mineralisation" in drill cores from its Mt Gee uranium deposit, which had been drilled years ago but not assayed.

Adelaide is now home to six uranium exploration companies, most of which have listed on the Australian Stock Exchange in the past two years. Hindmarsh Resources, which listed in July, will likely soon become part of Canadian company Mega Uranium, after a friendly takeover bid in January, and InterMet Resources is currently raising money ahead of an imminent ASX listing.

But despite the State Government making all the right noises about uranium exploration, it is still committed to the federal Labor Party's no-new-mines policy, which was again endorsed at the Labor Party's state convention in October last year.

Deputy Premier Kevin Foley has told Parliament he wants the no-new-mines policy scrapped, and the Rann Government has been supportive of the proposed doubling in size of BHP Billiton's Olympic Dam uranium mine in the state's north.

A spokesman for Mineral Resources Minister Paul Holloway said yesterday he also supported a change to the federal policy and would seek to do this at the next federal ALP policy convention early next year.

But Liberal Party mining spokesman Mitch Williams said the Government was hypocritical, because it was funding uranium exploration through the PACE mining subsidy scheme while remaining opposed to any new mines being started.

"There are a number of dedicated uranium explorers in South Australia now and a number getting off the ground and everybody expects that we will find more uranium in South Australia," Mr Williams said. "The only way that they can be mined is if there is a Liberal goverment both in South Australia and in Canberra."

Mr Williams said investing in a junior explorer was a high-risk decision in the first place. "When you add to that the risk that it may not be allowed to do anything about a uranium find, that's a significant risk," he said.

South Australian Chamber of Mines and Energy chief executive Phil Sutherland said he was confident the Labor Government, if returned at the March 18 election, would allow new mines to be opened.

"The State Government, by their actions, have made it quite clear that they will put the people and state of South Australia before party politics," he said.

http://www.theadvertiser.news.com.au/common/story_page/0,5936,18371719%255E913,00.html

T10 [8D]

[trader10]

http://www.mineweb.net/co_releases/945432.htm

Mega Uranium
By:
Posted: '06-MAR-06 07:21' GMT © Mineweb 1997-2004




URANIUM PROPERTY UPDATE



Toronto, Ontario, Canada, March 3, 2006 – Mega Uranium Ltd. (“Mega”) (“MGA”: TSXV) is pleased to provide the following progress summary in its Patagonia (Argentina), Mongolia, and Georgetown (Australia) Uranium Projects, and its takeover offer for the Australian uranium company, Hindmarsh Resources Ltd.



Patagonia Uranium Project (Argentina)



In November 2005, Mega commenced fieldwork in its 100% held Patagonia Uranium Project, in the Cretaceous-aged San Jorge Gulf Basin of Chubut Province. The exploration is being undertaken by a team of Argentinean geologists directed by Mega’s manager in Argentina, Dr. Hugo Bastias. Consulting to the team on a full time exclusive basis is Dr. Alberto Belluco, a uranium specialist with over 40 years of exploration and project evaluation experience with the National Atomic Energy Commission of Argentina (CNEA), and with the International Atomic Energy Commission in several other countries in South America.



The exploration programme thus far has comprised:

• Reconnaissance ground radiometric surveys, geochemical sampling and geological mapping of various radiometric anomalies and uranium occurrences detected by the CNEA in its exploration of the region in the 1970s.

• More detailed radiometric and geochemical surveys in the vicinity of CNEA’s Cerro Solo uranium resource (10.3 million pounds U3O8).





Based on the results of the reconnaissance work, Mega has relinquished one exploration permit (100km2 in area) and made applications for three new exploration permits, totaling 300 km2, in the vicinity of CNEA’s Sierra Cuadrada uranium deposit. Should the applications be granted, Mega’s ground holding in the region will be increased to a total of 2027 km2.



The new exploration permit applications cover outcrops and the the inferred shallow extensions of a 1.5 - 3m thick interval of volcaniclastic sediments in the uppermost part of the Chubut Group within an extensive area 5 - 40km northwest of CNEA’s Sierra Cuadrada uranium deposit. The volcaniclastic sediments contain ubiquitous fossilised tree trunks, with diameters up to one metre and lengths of 8 –10 metres, containing abundant uranium mineralisation. Sampling has returned values up to 0.58% U3O8 in the trunks and up to 0.18% U3O8 in the enclosing volcaniclastic sediments.



The detailed exploration work has focused on the area immediately to the east of the Cerro Solo deposit, along the inferred projection of the palaeochannel which hosts the deposit – refer to the attached figure. In this area, a detailed ground radiometric survey has delineated a 3.5km2 anomaly, with values up to 5 times the regional background, in Lower Chubut Group tuffs and sandstones, which overlie the uraniferous horizons hosting the Cerro Solo deposit. Over the radiometric anomaly, soil and rock chip sampling returned anomalous values over a 1200mx1900m area. Results are now awaited for a 20.5 line km. seismic reflection survey which was conducted over four lines in order to define the configuration and depth of the inferred palaechannel in the area of the radiometric anomaly.



A drilling programme, scheduled for April, and comprising at least 20 holes of 100m average depth, will test the palaeochannel under the principal radiometric anomaly and will also investigate other radiometric anomalies in Mega’s Condor 2 and Condor 3 properties.



Mongolia Uranium Project



In Mongolia, where Mega is earning an initial 50% interest in uranium exploration projects held by the TSXV-listed UGL Enterprises Ltd. (“UGL”) (“UGS”: TSXV), the UGL exploration team has completed its review of detailed records of previous Russian exploration in its properties, which it obtained from official sources in Irkutsk, Russia in the last quarter of 2005. As a result of this study, the option on the Nergui property has been relinquished and five UGL propert

[laurie]

Uranium Price
March 6, 2006*
US$39.50/lb
(+1.00)

cheers laurie

[trader10]

India spies an opportunity for uranium exports
By Louise Dodson Chief Political Correspondent in Mumbai
March 8, 2006

INDIA has hailed John Howard's decision to set up a high-level group to examine the new US nuclear deal as a possible green light to future Australian uranium exports.

Mr Howard has not ruled out a change in Australia's policy in the future.

However, in his meeting with the Indian Prime Minister, Manmohan Singh, in New Delhi he repeated that Australia had no "current" plan to change its policy of not exporting uranium to countries such as India that have not signed the nuclear non-proliferation treaty.

A spokesman for Dr Singh said after the meeting that India was pleased the two prime ministers had agreed on a working group of officials to examine the implications of the deal.

Speaking after his meeting with Dr Singh, Mr Howard praised the US-India agreement as "a very significant moment in the history of India" and said it was a sign that India was taking its place in the world as an economic superpower.

Dr Singh repeated his desire to import Australian uranium and talked up India's safety record.

"India may not be a signatory to the NPT but we abide by most of the disciplines mentioned in that treaty. We have an impeccable record of not contributing to any unauthorised proliferation of sensitive nuclear technologies. [We have] also committed ourselves to a moratorium on further tests, and there I feel the world community must take note of India's impeccable credentials".

He also lobbied Mr Howard to use Australia's influence in the Nuclear Suppliers Group to soften restrictions on those countries outside the non-proliferation treaty, such as India.

"The agreement with the US does provide that the US Government will use its influence with its friends and allies to soften the restrictions … I sincerely expect that the Australian Government will take a positive view of recent developments," Mr Singh said after the meeting.

Although the nuclear issue has dominated Mr Howard's visit to India, he has tried to promote business, tourism and cultural links, leading a delegation of 20 Australian businessmen from banks, transport and resource companies as well as universities. Mumbai is home to the operations of 40 Australian companies. Mr Howard and the cricketer Steve Waugh opened a new branch of Macquarie Bank. Speaking to a Mumbai business lunch, attended by Australian and Indian business people, Mr Howard said Australia's relationship with India had been characterised by history and common ties such as cricket and the British rather than trade. However, this was rapidly changing.

One of the main reasons was that India was a major contributor to the emergence of a global middle class now numbering up to 250 million. In 10 years the middle classes of India and China would be larger than in the US and Europe combined, Mr Howard said.

Mr Howard also launched a new push for more Indian students to study in Australia, saying India was the second largest source of international students.

Soon after Hollywood's Academy Awards, Mr Howard joined the ranks of Bollywood, meeting the director and cast of Salaam Namaste, which was filmed in Australia.

Mr Howard met Tania Zaetta, the Australian star of Bollywood movies. Speaking after meeting Mr Howard, she said she was wrapped especially tightly in her sari so she would not experience a wardrobe malfunction should Mr Howard accidentally stand on it.

She said she asked Mr Howard for subsidies to ensure more Bollywood films were made in Australia. Mr Howard did not give a reply.

http://www.smh.com.au/news/national/india-spies-an-opportunity-for-uranium-exports/2006/03/07/1141701510043.html

T10 :D

[trader10]

http://www.miningnews.net/

Uranium backers greedy: Greens

Sabian Wilde
Monday, March 13, 2006

GREENS Parliamentary Leader Bob Brown has said that China's increasing demand for uranium has inspired greed in both Labor and Liberal politicians, and that considerations beyond economics must be taken into account in developing Australia's uranium export policy.



Greens Senator Bob Brown

"The greed factor has taken over," Brown said today.

"The Howard Government will soon get Labor backing to sell Australian uranium into China's nuclear industry with the inevitable facilitation of China's nuclear weapons stockpile."

Brown singled out South Australian Premier Mike Rann's push to increase uranium export opportunities as an "open slather" approach that showed that neither the Liberal or Labor parties were committed to opposing the proliferation of nuclear weapons or waste.

"Our uranium will either go into China's nuclear ****nal, able to threaten Australian cities, or will free uranium from Tibet and other domestic sources to do the same job," Brown said.

Brown's comments on Rann precede the South Australian state election this Saturday, with the Greens leader saying there was essentially no difference between the two major parties and Greens candidates would have the sole responsibility of voicing community opposition to uranium exports.

"This is a defining time in Australian nuclear politics," Brown said.

"People who vote Labor or Liberal in South Australia on Saturday are voting for open slather uranium exports."

Environmental Management News

http://www.miningnews.net/

T10 ;)

[laurie]

March 13, 2006*
US$40.00/lb
(+0.50)

Yippeeeee$50 next well......maybe next year :D

cheers laurie

[kura]

See there is to be a new U float, called "U308" to be floated out of GIR, looks like the name of this thread may need to change once this new Co is listed

[stolwyk]

This is the main U3O8 thread; normally, companies are only casually mentioned as they individually can obtain their own thread.


Gerry

[kura]

If a new thread was started for U308 Limited, it would surely be confused with this thread, but trading on ASX not expected untill mid May anyway.
Hey, when I read about the U308 Limited IPO, I said to myself "Why have you guys been talking about this company for so long, before the prospectus was even lodged" But I figured this was just a general thread, once I started reading it.
Cheers

[laurie]

I assume the next Uranium IPO will be called "[u]Yellowcake</u>"

cheers laurie

[kura]

quote:Originally posted by laurie

I assume the next Uranium IPO will be called "[u]Yellowcake</u>"

cheers laurie

Yes, that has a nice ring to it ! Another option could be "Glow in the Dark Limited" (Motto being: Brightest Company on the Planet)
Any other suggestions ??

[laurie]

Any name will be fine by me as long as the word [u]ATOMIC</u> is not included ;)it will fail believe me [B)]

cheers laurie

[Packersoldkidney]

UNX just had a good announcement in regards to yellowcake....I jumped on and am showing a good profit already.

[stolwyk]

20 March: Increase 50 cts to US$40.50 Lately there have been weekly price rises.

From page 1: Price $20.50 on 5 Dec 2004.

So, it has risen exactly $20 or 97.5%, Or say 102.4% if there is another $1 to 4 April 2006, a period of 16 months.

That is an increase of 6.4% per month should there be an equal increase per month: price increases of Uranium are important.

To get to US$80/lb, one may need some 31/32 months from now on, however, I do think that as demand for nuclear power stations and armaments increase, this period could be shorter, say 2.5 years or less.

Gerry

[laurie]

Gerry

And we still have 2 States under Labor control W.A. & QLD that wants to leave it in the ground :(

cheers laurie

[trader10]

http://www.miningnews.net

Monday madness for uranium stocks

Michael Vaughan
Monday, March 27, 2006

INVESTORS awoke this morning with a real taste for yellowcake, sending the price of a number of uranium stocks skywards following on from a strong run last week.



ANZ Global natural resources analyst Andrew Harrington told MiningNews.net he put the strong run across the sector down to continued strength in uranium prices, which recently broke the $US40 per pound barrier for the first time in more than 25 years.

It certainly wasn't a case of the second day blues for Toro Energy and Encounter Resources after they listed on Friday, as both stocks maintained their upward momentum.

Toro was up 63.5c (77.6%) at $1.44 just after midday after closing up 55.5c (222%) on Friday at 80.5c.

Encounter broke the 50% mark by midday, gaining 17c (51.5%) to 50c. The stock closed up 13c (65%) at 33c on Friday.

Market darling Paladin Resources hit the $5.00 mark in early trade this morning after announcing more sales contracts for its Langer Heinrich project in Namibia on Friday. The stock eased a little as the day went on, rising 39c (8.6%) to $4.92 just after midday.

Notably, Paladin started the 2006 calendar year below $2.00.

Other uranium stocks to join the party this morning included Summit Resources, up 10c (9.6%) at $1.14, Nova Energy, climbing 15c (10.7%) to $1.55, Marathon Resources, gaining 7c (8.8%) to 87c and Deep Yellow, rising 0.8c (8.3%) to 10.5c.

http://www.miningnews.net

T10 :D

[trader10]

This is a quite interesting article. I will post it every night as there are around 7 sections....

http://www.miningnews.net

A-Z Uranium Sector Snapshot (Part One - A)

Sunday, March 19, 2006
Michael Vaughan

AS URANIUM passes $US40 per pound, MININGNEWS.net asks 15 questions of the companies comprising Australia's growing uranium sector. The survey will be published daily over the next two weeks.



ACCLAIM EXPLORATION
Share price (at March 17): 3.9c
Market cap (at March 17): $21.725 million

Acclaim Exploration holds the Denny Dalton uranium-gold project in South Africa. The company did not respond to the survey.


ADELAIDE RESOURCES
Share price (at March 17): 47c
Market cap (at March 17): $32.007 million

1. Where is your mainstay project located?
Adelaide Resources has two uranium exploration projects on the Eyre Peninsula of South Australia. One is a project focussing on Tertiary palaeochannel hosted uranium in the Narlaby, Yaninee and Thurlga Channels and the other is directed towards the Precambrian basement in the search for hard rock uranium deposits.

2. When was it discovered?
MIM completed reconnaissance drilling over the Narlaby and Yaninee palaeochannels with indications of anomalous uranium found in both providing incentive for further exploration. In the Narlaby palaeochannel downstream from Adelaide Resources tenements MIM discovered the Yarrana uranium deposit – its presence is demonstrative of the exploration potential of the Narlaby. The Yaninee palaeochannel is also uranium bearing while the potentially extensive Thurlga palaeochannel has never been explored for uranium.
Pancontinental and others in the 1980's recognised the similarity of the Precambrian geology on southeast Eyre Peninsula to that in the East Alligator River region of NT. Past exploration has provided support for this comparison with a number of uranium occurrences discovered and the identification of hydrothermal systems of a character similar to those found in the East Alligator River region.

3. What is the company's stake in the project?
Adelaide Resources has 100% ownership of these projects.

4. What work programs have been completed at the project? How much drilling has been carried out?
Between 1979 and 1980 MIM drilled 184 holes totalling about 8200 metres into those portions of the Narlaby palaeochannel which fall on Adelaide Resources' tenements. In the same period MIM drilled 20 holes for about 1100 metres into that part of the Yaninee palaeochannel now held by the company. Airborne and ground radiometric surveys and geochemical and rock chip sampling have been completed by past explorers on the basement uranium project tenements however drilling targeting uranium is limited.

5. What style/type of uranium mineralisation is at the project?
Tertiary palaeochannel hosted "roll-front" style uranium in the palaeochannels and Precambrian unconformity style uranium in the basement project.

6. What are the dimensions of the mineralisation? What are the levels/tenor/grade of mineralisation?
Further exploration is needed before this question can be adequately answered for either project.

7. Is the project essentially a 'greenfields' proposition, or does it have a JORC-compliant resource? If it is not 'greenfields' and if it doesn't have a JORC resource, how much work needs to be done in order to establish one?
Both projects can be regarded as "greenfields" in nature but the Narlaby palaeochannel project is more advanced because of the promise shown in drilling to date.

8.What is the potential size of the deposit? Answer as for question 6.

9. How much cash has the company budgeted to spend on the ground at the project during 2006?
The company is considering a number of different funding options for these projects in 2006 with the budget ultimately dependent upon which option is selected.

10. What is the company's current cash position?
On 2 February 2006 the company announced it had raised $2 million through a share placement giving total cash an

[pago]

t10,excellent info,some investors will be burnt by this ur bubble,the very few that gain,and in a big way will be those on the right stocks,cheers pago.

[trader10]

China to explore for our uranium
By Mary-Anne Toy in Beijing and John Garnaut
March 28, 2006

CHINA hopes to explore for uranium in Australia under landmark deals that its Premier expects to sign in a four-day visit.

Two documents on uranium - one of which concerns "exploration and exploitation" - may be among economic and trade agreements signed by the Premier, Wen Jiabao, who arrives on Saturday.

It could mean that energy-hungry China will not only buy Australia's uranium, but come here to look for it.

China's top Foreign Ministry official dealing with Australia, Liu Jieyi, told a briefing for foreign journalists yesterday: "It is true that China and Australia will sign some agreements including on uranium and the exploration and exploitation of uranium. These agreements are all for the peaceful use of nuclear energy and for co-operation on uranium … As for the specific contents of these agreements, I am not in a position to share that information."

Australia has 40 per cent of the world's known uranium reserves, and China is keen to have more direct involvement in energy resources wherever possible. China first formally raised its interest in exploring for uranium in February last year, drawing a cautious response from the Prime Minister, John Howard, and his ministers.

But they did not rule out the possibility, and in October the Foreign Minister, Alexander Downer, compared China to France, a recognised nuclear power already involved in exploring in Australia.

Last night a Government source said nothing had been completed but confirmed Australia was working to sign a deal with China as soon as possible. But a safeguards agreement will be crucial to any trade in uranium. And there was confusion in Canberra about what was about to be agreed on exploration. A sources said: "Exploration licences are granted and administered by the Northern Territory and South Australian governments. We don't come into play until they find the stuff."

But Mr Liu, the director-general of the Department of American and Oceanian Affairs, said the two sides had made much progress. "We already have draft texts, and during the visit it is likely that these two documents will be signed."

Asked if Falun Gong - banned as a cult in China - would be raised, he said: "The Falun Gong cult is sabotaging the relationship. This is indeed to serve their own evil interests and political agenda. We are confident that with concerted efforts from the two governments we can successfully exclude them from interfering with this visit."

http://www.smh.com.au/news/national/china-to-explore-for-our-uranium/2006/03/27/1143441085181.html

T10 ;)

[trader10]

Uranium: to dig or not to dig

By ANNA VLACH
28mar06
NATIONAL CONFERENCE|Policy in the spotlight

THE hottest topic in the resource sector - uranium exploration and policy - will take centre stage at the 2006 Uranium Conference at the Hilton Adelaide on Thursday and Friday.

Department of Industry, Tourism and Resources head of resources division John Hartwell will present the opening address, on behalf of federal Resources Minister Ian Macfarlane, and Opposition spokesman on resources Martin Ferguson is to speak on day two.

Conference organiser Bill Repard said Mr Macfarlane's speech was expected to provide an update on the work of the Uranium Industry Framework.

Launched in 2005, it was designed to be a partnership of government, industry, indigenous and community stakeholders to increase mining and export opportunities.

Industry observers will also be waiting to see what Mr Ferguson will have to say as debate grows over the federal ALP's reluctance to develop new mines. "The reason we invited Mr Ferguson is that he has been making some terrifically commonsense comments over the past few months," Mr Repard said.

Efforts to achieve an expansion of Australia's yellowcake supply will also be discussed by senior executives from several explorers including Toro Energy, Curnamona Energy, Maximus Resources, Alliance Resources, PepinNini Minerals, Southern Gold, Marathon Resources, Red Metal, Scimitar Resources and Tasman Resources.

Mr Repard said it was significant that the conference was being held just days after the stellar listing of new Adelaide-based uranium explorer Toro Energy.

Meanwhile, Alliance Resources yesterday released a progress update on its joint venture with Quasar Resources at the Beverly 4 Mile uranium prospect at Arkaroola in the state's north.

Native-title clearance for drilling has been completed, with the drill program to resume upon the availability of rigs and the first two planned pre-collars for later diamond-core drilling completed.


http://www.theadvertiser.news.com.au/common/story_page/0,5936,18624745%255E5003680,00.html

T10 [8D]

WORK IS WHAT YOU MAKE IT !

[Packersoldkidney]

SRK has been a winner for me in recent days.....as has UNX.

The uranium bull is running, but hasn't got anywhere as yet.

[trader10]

http://www.miningnews.net

Bull run continues for uranium

Michael Vaughan
Tuesday, March 28, 2006

INVESTORS got all the reasons they needed to spark another run on uranium stocks this morning, with news emerging that Australia is close to signing an agreement with China, allowing Australia to export uranium to the superpower and also allowing China to invest in uranium mining in Australia.



Australia currently exports uranium to the United States, Europe, Canada, Japan and South Korea but representatives from China and India have recently been sniffing out export deals with Australia, and Prime Minister John Howard has signalled negotiations with the Chinese are well advanced.

Both Asian nations have a suite of new nuclear reactors set to come online in the coming decade and are looking to shore up fuel supplies.

Encounter Resources – one of the two standout performers over the past two days' trading – burst out of the blocks this morning, adding a further 40c (84.2%) to its share price to be trading at 87.5c by midday.

Encounter listed at 20c on Friday, giving smiling investors a more than 400% return on paper to date.

Toro Energy couldn't sustain the explosive momentum it gained since listing on Friday, but the stock was still up 10.5c (8%) at $1.415 by midday. Not a bad result, considering its initial public offer price was 25c.

Deep Yellow has clawed back much of the ground the company lost last year after discovering grade problems at its Napperby project in the Northern Territory. The stock added 4c (34.8%) this morning to be 15.5c.

Globe Uranium continued its strong run during March, putting on 8.5c (14.7%) to be 66.5c. The company started March at 27c and has a couple of new patches of ground in Malawi to thank for its strong gains.

Other strong performers this morning included takeover target Hindmarsh Resources, rising 14.5c (12%) to $1.35, Energy Metals, gaining 25c (11.4%) to $2.45, Uranium Exploration Australia, climbing 4.5c (11.5%) to 43.5c and Summit Resources, up 15c (12.8%) at $1.325.

http://www.miningnews.net/storyview.asp?storyid=56279§ionsource=s0

T10 [8D]

[trader10]

The Age, Australia - 45 minutes ago

Uranium stocks surge as China deal nears
March 28, 2006 - 1:25PM

Shares in uranium stocks powered ahead as Prime Minister John Howard signalled a deal to sell yellowcake to China could be close.

Chinese Premier Wen Jiabao arrives in Australia for a four day visit at the weekend and Mr Howard said a deal on safeguards that may open the way for uranium sales to China could be signed during the visit.

"It's possible that the discussions could be satisfactorily concluded so that something could be said or signed when the Chinese premier visits Australia next week," Mr Howard said.

The already hot uranium sector got a boost on Monday night when a Chinese government spokesman told a press briefing the draft texts of the safeguard agreements had been completed and were likely to be signed.

Shares in newly listed Toro Energy continued their stunning rise, climbing another 7.5 cents to $1.385 by 1220 AEDT on Tuesday.

Toro shares were issued at 25 cents per share in a heavily oversubscribed offer and shot up an amazing 222 per cent on their first day on the market last Friday.

Tuesday's biggest mover was West Australian explorer Encounter Resources, which shot up 39 cents or 82 per cent to 86.5 cents.

Others making big gains at 1226 AEDT were Deep Yellow, rising 3.5 cents to 15 cents, Pepinnini Minerals up 6.5 cents to 39.5 cents and Globe Uranium climbing 8.5 cents to 66.5 cents.

Aequs Securities dealer Ric Klusman said investors were betting that the government would sign a deal with China.

Mr Klusman said that with China outlining plans to generate four per cent of its power from nuclear power plants by 2020, investors could see demand for Australia's uranium skyrocketing.

"Uranium is the new gold," he said.

Most of the buying of uranium stocks at this stage was from smaller speculative investors, he said, but if the run continued the bigger investment houses would start to take notice.

"If the capitalisations of these things start to hold up, you will start to see some interest from the institutional investors because they will have to have some exposure to it," he said.

Shaw Stockbroking mining analyst John Colnan said the market was ignoring the opposition of most Labor state governments to the opening of new uranium mines.

Mr Colnan said BHP Billiton's massive Olympic Dam mine in South Australia, which holds the world' largest uranium deposit, was the pick of the yellowcake producers.

"The rest of it is just reminiscent of dotcom days," he said.

At 1255 AEDT on Tuesday, BHP Billiton was up 19 cents to $26.97.

http://www.theage.com.au/news/Business/Uranium-stocks-surge-as-China-deal-nears/2006/03/28/1143441129565.html


T10 [8D]

[trader10]

http://www.miningnews.net

A-Z Uranium Sector Snapshot (Part Two -B)

Tuesday, March 21, 2006
Michael Vaughan

AS URANIUM passes $US40 per pound, MININGNEWS.net asks 15 questions of the companies comprising Australia's growing uranium sector. The survey will be published daily over the next two weeks.




BANNERMAN RESOURCES
Share price (at March 17): 40c
Market cap (at March 17): $5.07 million

1. Where is your mainstay project located?
Bannerman have granted licences in Namibia and Botswana. Further applications pending in Namibia and Western Australia.

2. When was it discovered?
The licences were pegged over anomalous uranium results from work conducted in the 1970s and 1980s.

3. What is the company's stake in the project?
In Namibia Bannerman has an 80% interest and in Botswana 100%

4. What work programs have been completed at the project? How much drilling has been carried out?
It varies, in Namibia wide spaced drilling has been conducted over the majority of the licence to shallow depths and in Botswana little drilling has been completed. Soil sampling, trenching, radiometric surveys and mapping has been completed at each location over portions of the licences.

5. What style/type of uranium mineralisation is at the project?
In both Namibia and Botswana the mineralisation is Pedogenic associated with calcareous sediments in palaeodrainages.

6. What are the dimensions of the mineralisation? What are the levels/tenor/grade of mineralisation?
See answer to question seven.

7. Is the project essentially a 'greenfields' proposition, or does it have a JORC-compliant resource? If it is not 'greenfields' and if it doesn't have a JORC resource, how much work needs to be done in order to establish one?
Greenfields, although the work completed to date can be considered considerable it is in general widely spaced and it has effectively highlighted the area as anomalous and definitive work is the next stage of exploration.

8. What is the potential size of the deposit?
See answer to question seven.

9. How much cash has the company budgeted to spend on the ground at the project during 2006?
The official budget is for $500,000 but the intention is to exceed this considerably.

10. What is the company's current cash position?
$1.7 million

11. Which contractors/consultants has the company been/intend using?
N/A

12. How is the project located in terms of infrastructure?
N/A

13. How far away is a potential development? What is the potential size and timeline?
N/A

14. What are the potential capital/operating costs of the development? When will you likely know?
N/A

15. What are the main hurdles to reaching a development decision?
N/A

BERKELEY RESOURCES
Share price (at March 17): 67c
Market cap (at March 17): $36.81 million

1. Where is your mainstay project located?
Spain – in the provinces of Salamanca, Caceres and Guadalajara. Spain shut down its last mine (in Salamanca) in 2000 and imports around 3.5m lb of uranium a year. The country generates around 25% of its electricity from 9 nuclear plants.

2. When was it discovered?
Uranium was discovered in all these provinces in the 1950's and has been explored since principally by the State uranium company – ENUSA and the French uranium company – AREVA (formerly Cogema).

3. What is the company's stake in the project?
Berkeley is earning 100% in all projects by spending a total of €3.5m over 5 years.

4. What work programs have been completed at the project? How much drilling has been carried out?
All projects have been drilled in the past, most quite extensively. Since acquisition by Berkeley, work has been restricted to acquisition and review of the very large historical data resource.

5. What style/type of uranium mineralisation is at the project?
A variety, including primary mineralisation hosted in black shales, granite hosted vein type and sandstone hosted rollfronts.

6. What are the dimensions of the mineralisation? What are the levels/tenor/grade of mineralisat

[trader10]

PS: my position state and sentiment is for URANIUM in general...not for all companies mentioned in the articles......

http://www.miningnews.net


A-Z Uranium Sector Snapshot (Part Three - C)

Wednesday, March 22, 2006
Michael Vaughan

AS URANIUM passes $US40 per pound, MiningNews.net asks 15 questions of the companies comprising Australia's growing uranium sector. The survey will be published daily for the rest of March.




CAMUCO
Private Company

1. Where is your mainstay project located?
Camuco holds two greenfields projects located in the northeastern region of the Yilgarn Craton, about 200 km and 250 km from Kalgoorlie-Boulder. Each projects consists of three Exploration Licenses, which are all still at application stage.

2. When was it discovered?
N/A

3. What is the company's stake in the project?
Camuco Pty Ltd, owns 100% of the projects.

4. What work programs have been completed at the project? How much drilling has been carried out?
No field work has competed to date.

5. What style/type of uranium mineralisation is at the project?
Exploration will target tabular "Playa-Lake Type" mineralisation. However, the emphasis will be on discovery of sandstone-hosted coffinite mineralisation, as opposed to the calcrete-hosted carnotite mineralisation typical of playa-lakes in the northern Yilgarn Craton region.
We predict that shallow resources of coffinite mineralisation within, or adjacent to playa-lakes, will have more favourable metallurgical and environmental characteristics than similar resources of carnotite mineralisation. Furthermore, sandstone-hosted coffinite resources may also be amenable to the lower cost production method of acid Insitu Leach (ISL).

6. What are the dimensions of the mineralisation? What are the levels/tenor/grade of mineralisation?
Each project contains about 70 km strike length of prospective playa-lake stratigraphy.

7. Is the project essentially a 'greenfields' proposition, or does it have a JORC-compliant resource? If it is not 'greenfields' and if it doesn't have a JORC resource, how much work needs to be done in order to establish one?
All projects are greenfields.

8. What is the potential size of the deposit?
N/A

9. How much cash has the company budgeted to spend on the ground at the project during 2006?
2006 expenditure will depend on the timing of grant of the applications, and method of capital raising.

10. What is the company's current cash position?
We are presently investigating options for raising capital.

11. Which contractors/consultants has the company been/intend using?
Camuco has reached agreement in principal with Eaglefield Holdings Pty Ltd to access Eaglefield's propriety geological data and exploration technologies. Eaglefield are experts in the Cainozoic sedimentary and supergene geology of the northeast Yilgarn Craton and adjacent Phanerozoic sedimentary basins.
Camuco believes that access to Eaglefield's data and knowledge will give it a major advantage over all other companies exploring the northern Yilgarn Craton for surficial uranium resources.

11. Which contractors/consultants has the company been/intend using?
N/A

12. How is the project located in terms of infrastructure?
N/A

13. How far away is a potential development? What is the potential size and timeline?
N/A

14. What are the potential capital/operating costs of the development? When will you likely know?
N/A

15. What are the main hurdles to reaching a development decision?
N/A


CAZALY RESOURCES
Share price (at March 17): $2.22
Market cap (at March 17): $105 million

1. Where is your mainstay project located?
Lake Way – adjacent to Nova Energy Limited's Lakeway Uranium Deposit at Wiluna, WA.

2. When was it discovered?
1974.

3. What is the company's stake in the project?
100%

4. What work programs have been completed at the project? How much drilling has been carried out?
Tenement not yet granted.
Radiometric data purchased
Very limited reconnaissance surface sampling
P

[trader10]

Uranium stocks up on China

By AAP and staff writers
28mar06

SHARES in uranium stocks powered ahead as Prime Minister John Howard signalled a deal to sell yellowcake to China could be close, with BHP Billiton leading the way into record territory.

Chinese Premier Wen Jiabao arrives in Australia for a four day visit at the weekend and Mr Howard said a deal that may open the way for uranium sales to China could be signed during the visit.
"It's possible that the discussions could be satisfactorily concluded so that something could be said or signed when the Chinese premier visits Australia next week," Mr Howard said.

The already hot uranium sector got a boost last night when a Chinese Government spokesman told a press briefing the draft texts of the safeguard agreements had been completed and were likely to be signed.

Shaw Stockbroking mining analyst John Colnan said the market was ignoring the opposition of most Labor state governments to the opening of new uranium mines.

Mr Colnan said BHP Billiton's massive Olympic Dam mine in South Australia, which holds the world' largest uranium deposit, was the pick of the yellowcake producers.

"The rest of it is just reminiscent of dotcom days," he said.

At 1255 AEDT BHP Billiton (bhp.ASX:Quote,News) was up 19 cents to $26.97 after earlier hitting a record of $27.02.

Today's biggest mover was West Australian uranium explorer Encounter Resources (enr.ASX:Quote,News), which shot up 39 cents or 82 per cent to 86.5 cents, after hitting an earlier record high of $1.15. The stock was the most bought through the retail stock broking website Commsec.

Shares in newly listed Toro Energy continued their stunning rise today, climbing another 7.5 cents to $1.385 by 1220 AEDT.

Toro shares were issued at 25 cents per share in a heavily oversubscribed offer and shot up an amazing 222 per cent on their first day on the market last Friday.

Toro Energy is a uranium explorer formed through the amalgamation of the uranium interests of Oxiana Ltd and Minotaur Exploration Ltd in South Australia.

Others making big gains at 1226 AEDT were Deep Yellow, rising 3.5 cents to 15 cents, Pepinnini Minerals up 6.5 cents to 39.5 cents and Globe Uranium climbing 8.5 cents to 66.5 cents.

Aequs Securities dealer Ric Klusman said investors were betting that the Government would sign a deal with China.

Mr Klusman said that with China outlining plans to generate four per cent of its power from nuclear power plants by 2020, investors could see demand for Australia's uranium skyrocketing.

"Uranium is the new gold," he said.

Most of the buying of uranium stocks at this stage was from smaller speculative investors, he said. If the run continued, bigger investment houses would start to take notice, he said.

"If the capitalisations of these thing start to hold up you will start to see some interest from the institutional investors because they will have to have some exposure to it," he said.


http://www.heraldsun.news.com.au/common/story_page/0,5478,18631798%255E1702,00.html

T10 ;)

[Packersoldkidney]

Sensational day for uranium stocks....bit hard to see where its all going tomorrow. I cashed in, but will be watching tomorrow from 10 am very closely.

[trader10]

http://www.miningnews.net

A-Z Uranium Sector Snapshot (Part Four - D/E)

Thursday, March 23, 2006
Michael Vaughan

AS URANIUM passes $US40 per pound, MiningNews.net asks 15 questions of the companies comprising Australia's growing uranium sector. The survey will be published daily for the rest of March.




DRAKE RESOURCES
Share price (at March 17): 20c
Market cap (at March 17): $3.35 million

1. Where is your mainstay project located?
The Altona Project is between Leonora and Sandstone, comprising the next major channel south of Yeerlirrie.

2. When was it discovered?
The original exploration of the area was by WMC and BP Minerals in the 1970s

3. What is the company¡¦s stake in the project?
100%

4. What work programs have been completed at the project? How much drilling has been carried out?
Past exploration comprised surface reconnaissance and radiometrics, and some limited drilling

5. What style/type of uranium mineralisation is at the project?
Altona is a calcrete uranium exploration project

6. What are the dimensions of the mineralisation? What are the levels/tenor/grade of mineralisation?
At present the area has a number of untested radiometric anomalies present

7. Is the project essentially a ¡¥greenfields¡¦ proposition, or does it have a JORC-compliant resource? If it is not ¡¥greenfields¡¦ and if it doesn¡¦t have a JORC resource, how much work needs to be done in order to establish one?
Greenfields

8. What is the potential size of the deposit?
N/A

9. How much cash has the company budgeted to spend on the ground at the project during 2006?
This project comprises two Exploration License applications.

10. What is the company¡¦s current cash position?
$1.6 million

11. Which contractors/consultants has the company been/intend using?
N/A

12. How is the project located in terms of infrastructure?
N/A

13. How far away is a potential development? What is the potential size and timeline?
N/A

14. What are the potential capital/operating costs of the development? When will you likely know?
N/A

15. What are the main hurdles to reaching a development decision?
N/A


EAGLEFIELD HOLDINGS
Private company

1. Where is your mainstay project located?
Our main uranium project is the Mulga Rock Polymetallic Deposit (MRD), located in the southwest Gunbarrel Basin region of Western Australia, about 700km from Perth and 240km from the city of Kalgoorlie-Boulder. The MRD is entirely within, and part of the larger Narnoo Project. The MRD comprises three individual deposits, named Ambassador, Emperor and Shogun.
The Narnoo Project covers a total area of about 1100sq km and includes multiple resources and prospects of uranium, gold, oily lignite and nickel-cobalt.

2. When was it discovered?
The MRD were discovered, and evaluated by PNC Exploration Pty Ltd during the period 1979 to 1990. PNC was an entity owned by the Japanese Government with a strict charter to pursue only U exploration. In the period 1990 ¡V 2000 PNC held the resource via a small number of mining leases, but did no additional fieldwork. They were forced to divest the resource in 2000, following abolition of the parent department by the Japanese Government. Eaglefield and Narnoo Mining then acquired the resource via Exploration Licenses, with the tenements granted in February 2003.

3. What is the company¡¦s stake in the project?
A private company, Narnoo Mining Pty Ltd, owns 100% of the project. Narnoo Mining is administered by Eaglefield Holdings Pty Ltd.

4. What work programs have been completed at the project? How much drilling has been carried out?
PNC spent some $11 million in historical dollars within the project area. About 1600 drillholes were completed (both RC and diamond), of which about 400 are within the perimeters of the MRD. PNC, or consultants also completed: resource estimations; pre feasibility and mine development scoping studies: mineralogical and metallurgical studies; flora, fauna and radioecology studies, archaeological studies; and h

[trader10]

A-Z Uranium Sector Snapshot (Part Five - G)

Friday, March 24, 2006
Michael Vaughan

AS URANIUM passes $US40 per pound, MiningNews.net asks 15 questions of the companies comprising Australia's growing uranium sector. The survey will be published daily for the rest of March.




GIRALIA RESOURCES
Share price (at March 17): 27.5c
Market cap (at March 17): $40.81 million

1. Where is your mainstay project located?
Lake Frome JV, South Australia.

2. When was it discovered?
Adjoins operating Beverley mine, JV since 1998, several 2005 drill holes intersected uranium grades in excess of Beverley mine cut off.

3. What is the company's stake in the project?
25% free carry to decision to mine.

4. What work programs have been completed at the project? How much drilling has been carried out?
Very widely spaced drilling so far 2-10km spaced, 37 holes for 7959m in 2004/2005, further 11 holes/2068m in Dec qtr05, 4 holes in progress for IOCG (Olympic Dam style hard rock mineralisation, also detailed geophysical surveys.

5. What style/type of uranium mineralisation is at the project?
Palaeochannel /sandstone hosted, also potential for IOCG style.

6. What are the dimensions of the mineralisation? What are the levels/tenor/grade of mineralisation?
No current resource or deposit defined, extensions to known mineralisation on Heathgate's adjoining ground.

7. Is the project essentially a 'greenfields' proposition, or does it have a JORC-compliant resource? If it is not 'greenfields' and if it doesn't have a JORC resource, how much work needs to be done in order to establish one?
No JORC resource, uranium in widely spaced drill holes needs infill probably 6-9 months work.

8. What is the potential size of the deposit?
Similar to Beverley? Say 20,000 tonnes uranium oxide. Heathgate have added a further 20,000t in the last couple of years at Deep South and Beverley East, both of which trend into GIR's ground.

9. How much cash has the company budgeted to spend on the ground at the project during 2006?
Free carried by Heathgate.

10. What is the company's current cash position?
$2.7 million at Dec05.

11. Which contractors/consultants has the company been/intend using?
Heathgate operating.

12. How is the project located in terms of infrastructure?
Immediately adjoins operating uranium mine.

13. How far away is a potential development? What is the potential size and timeline?
N/A

14. What are the potential capital/operating costs of the development? When will you likely know?
N/A but target is in situ leach uranium in equivalent sand unit that hosts Beverley mine so development could piggy back on Beverley.

What are the main hurdles to reaching a development decision?
N/A


GLENGARRY RESOURCES
Share price (at March 17): 6.6c
Market cap (at March 17): $14.42 million

1. Where is your mainstay project located?
Greenvale Project, North Queensland ~ 200 km west of Townsville.

2. When was it discovered?
1978 by Esso Minerals.

3. What is the company's stake in the project?
100%

4. What work programs have been completed at the project? How much drilling has been carried out?
Previously drilled out by Esso in 1978 who drilled 46 holes for a total 4,971m. Glengarry has completed one program comprising two confirmation holes for a total 165 metres.

5. What style/type of uranium mineralisation is at the project?
Structurally-controlled, sheared hosted possibly analogous to unconformity style deposits in NT.

6. What are the dimensions of the mineralisation? What are the levels/tenor/grade of mineralisation?
Mineralisation has been intersected over 300m strike and to a vertical depth of 100m with the extent of the mineralised zone not yet fully defined. Better intersections include 9.5m @ 0.23% uranium oxide and 10m @ 0.12% uranium oxide.

7. Is the project essentially a 'greenfields' proposition, or does it have a JORC-compliant resource? If it is not 'greenfields' and if it doesn't have a JORC resource, how much work needs to be done i

[trader10]

A-Z Uranium Sector Snapshot (Part Six - H/I)

Monday, March 27, 2006
Michael Vaughan

AS URANIUM passes $US40 per pound, MiningNews.net asks 15 questions of the companies comprising Australia's growing uranium sector. The survey will be published daily for the rest of March.




HERON RESOURCES
Share price (at March 17): 46c
Market cap (at March 17): $77.85 million

1. Where is your mainstay project located?
The uranium projects held by Heron resources are mainly located in Western Australia with two other projects located in the Northern Territory and Queensland. There are six projects in total, including: Mt Dennison (Arunta Block), Pandanus West (George Town Block), Ida Valley (Yilgarn), Mt Phillips (Bangemall Basin) and Balladonia and Kakarook (Eucla Block). However due to other commitments all projects currently for sale (call +61 8 9315 5717)

2. When was it discovered?
N/A

3. What is the company's stake in the project?
100%

4. What work programs have been completed at the project? How much drilling has been carried out?
Previous exploration used chip sampling and remote techniques to identify uranium mineralisation and potential targets.

5. What style/type of uranium mineralisation is at the project?
They are a combination of secondary calcrete hosted, secondary sandstone/lignite hosted and primary bedrock hosted.

6. What are the dimensions of the mineralisation? What are the levels/tenor/grade of mineralisation?
The Balladonia region oil shale resources are swamp deposits formed in Eocene-aged paralic lake valleys at the western edge of the Eucla Basin Sea. From previous work, there is potential for several hundred millions of tonnes of oil-bearing lignite.

7. Is the project essentially a 'greenfields' proposition, or does it have a JORC-compliant resource?
If it is not 'greenfields' and if it doesn't have a JORC resource, how much work needs to be done in order to establish one?
All projects are considered greenfields projects however, their prospectivity is supported by geophysical anomalies and anomalous rock chip samples up to 0.6% uranium oxide.

8. What is the potential size of the deposit?
At Balladonia, in addition to the lignite and mineral sand potential there is considerable potential for Mulga Rock style uranium mineralisation which is reportedly the third largest uranium deposit in Western Australia, and has a resource of approximately 10.8 million tonnes grading 0.12% uranium. The exploration model for the Ida Valley project is carnotite in valley calcrete, with the analogy being the Yeelirrie deposit, which occurs in a parallel drainage system 180km to the north-west.

9. How much cash has the company budgeted to spend on the ground at the project during 2006?
N/A

10. What is the company's current cash position?
N/A

11. Which contractors/consultants has the company been/intend using?
N/A

12. How is the project located in terms of infrastructure?
N/A

13. How far away is a potential development? What is the potential size and timeline?
N/A

14. What are the potential capital/operating costs of the development? When will you likely know?
N/A

15. What are the main hurdles to reaching a development decision?
N/A



HINDMARSH RESOURCES
Share price (at March 17): 91c
Market cap (at March 17): $13.06 million

Currently involved in a takeover bid from Canada's Mega Uranium. The company did not respond to the survey.
INTERMET RESOURCES
InterMet is currently raising $3-4 million in its IPO.

1. Where is your mainstay project located?
The Cocata Project is located on the Gawler Craton, South Australia, approximately 600 km west of Adelaide.

2. When was it discovered?
The palaeochannel was discovered in the early 1980's by Carpentaria Exploration as part of a major exploration program designed to discover palaeochannel hosted uranium on the central Gawler Craton. Previous work had shown the Mesoproterozoic Hiltaba Suite granites to be slightly elevated in uranium and the work by Carpentaria was aime

[kura]

What I dont seem to understand is that most states dont want U mining to go ahead, yet companies ignore this, and proceed with prospecting etc. What am I missing here ?

Also as a different theme, I read an article/website on enviromental concerns, and cleanup work on the old "Rum Jungle" mine, just google search for it, it was an interesting read, also from a historical perspective. (Liked the story of how it was named )

Trader 10, from the list of G shares that you posted above GDN should be added to the list (see todays announcement ) Just thinking aloud here but if the Aussies dont want U mines on their turf, then perhaps USA is the place to explore/mine for the stuff. (GDN interest in Utah)

[trader10]

Hi there Kura,

You are not wrong when saying that most AUS states have restrictions and some politicians still are against U308 mining.
What we do need to understand it : We need a new source of energy badly....

Wind, solar power, hydro, U POWER, etc etc.... are all welcome IMHO.

Coal is damaging immensly the atmosphere and we do use heaps of this source.
I do understand the concerns in open the doors to the Uranium world. And that's the reason AUS did not go ahead with it in the 1980's.
The technology changed and safety and policies are much better and wide. But as you know there is still concerns and a danger in all this.

Energy Source Electricity Produced

1 kg of Firewood 1 kWh
1 kg of Coal 3 kWh
1 kg of Oil 4 kWh
1 kg of Uranium 50,000 kWh

We do need to look some countries closely....and I do not agree in letting the Chinese come here to explore our uranium. I much prefer we do the job and sell to them.

The "big boyz" - have much more power and $$$$$ than our puppets politicians so, I really think there is no issue this time and Uranium will go ahead.

Companies like PDN, BHP, RIO, OXR/MEP are opening the doors for the uranium in this country and for all the other companies - specs and jurniors....

2006 uranium conference at the Hilton Adelaide starts tomorrow...it will be very interesting... and of course, The Chinese Prime Minister arrives on Saturday with some papers to be signed.....;)

Check this out:

http://www.paydirtsuraniumconference.com/

http://www.theadvertiser.news.com.au/common/story_page/0,5936,18624745%255E5003680,00.html

---------------------------------------------------------------------


quote:Also as a different theme, I read an article/website on enviromental concerns, and cleanup work on the old "Rum Jungle" mine, just google search for it, it was an interesting read, also from a historical perspective. (Liked the story of how it was named )


Cheers will check the article you've mentioned....
And look at GDN....

cheers mate

T10 :)

[kura]

Hi T10, here is link to article
http://www.sea-us.org.au/oldmines/rumjungle.html
it has a greenie message, but a very interesting historical perspective. Many years ago I had a drink with an old guy who had spent a couple of years working up at Rum Jungle.

I took an interest in GDN due to their large oil/gas play in USA, (see GDN thread) their Uranium & Gold assets only had minimal interest to me.

[laurie]

T10
Appreciate the work you done on the reports many thanks buy the way you think that conference could have been web casted! :(

cheers laurie

[peter_s]

Hi people. Just wondering what everyone's picks are for uranium in this current market? I currently hold PDN and MTN. I'd like to pick up a couple of others however...

[trader10]

Firstly KURA,

Thank you so much for showing me and/or guiding me to taht specific event: Rum Jungle . Until now, I had NO knowledge about it.....very intersting read...

--------------------------------------------------------------------

http://www.uic.com.au/fmine.htm

Rum Jungle

The Rum Jungle uranium deposit was discovered in 1949 by a local prospector. It is 64 kilometres south of Darwin in the Northern Territory, on the East Finniss River.

In March 1952 the Commonwealth Government provided funds for setting up a mine and treatment plant to provide uranium oxide concentrate to the UK-US Combined Development Agency (CDA) under a contract which ran from 1953 to 1962. Rum Jungle was then the largest industrial undertaking in the Northern Territory. The Commonwealth, through the Australian Atomic Energy Commission (AAEC), was responsible for the mine, though management of it was on a contract basis (cost plus) by Territory Enterprises Pty Limited, a subsidiary of Consolidated Zinc Pty Ltd* set up for that purpose. A new town was built at Batchelor, a major wartime air base some 8 kilometres south of the mine.

* In 1962 Consolidated Zinc merged with the Australian interests of Rio Tinto Company Ltd to form Conzinc Riotinto of Australia Limited.

The White's orebody was initially developed underground, from 1950 to 1953. Production from White's open cut started in 1953 and the treatment plant commenced in 1954. White's was mined out to depth of over 100 metres in November 1958 and Dyson's open cut was mined in 1957-58. A little ore was mined in 1958 from Mt Burton open cut, 4 kilometres west of the plant. Ore from these was stockpiled and progressively treated, and was more than sufficient to complete the CDA contract.

Rum Jungle Creek South orebody some 7 kilometres south of the plant site and 3 kilometres west of Batchelor was discovered in 1960 by Territory Enterprises, but there was no sales contract for its uranium. However, in 1961 the Commonwealth Government decided to proceed with developing it. It was mined 1961-63 to depth of 67 metres, with the relatively high-grade (0.37% U) ore being stockpiled for treatment beyond the January 1963 expiry of the CDA contract. The product from this was to be offered on the open market or stockpiled at AAEC in Sydney until the market improved in the 1970s. In the event, about 2000 tonnes of yellowcake was thus stockpiled by the time the mine closed in 1971.*

* In 1994, 239 tonnes on Rum Jungle uranium oxide was sold to a US utility, leaving 1814 tonnes still stockpiled.

Up to mid 1962, when the offer expired, the AAEC also purchased some high grade uranium ore from other deposits for treatment at Rum Jungle. From 1954 to 1957 the Australian Uranium Corporation NL sold ore from its Adelaide River mine to AAEC, and in 1962 South Alligator Uranium NL sold some high grade ore from the Eva deposit near the Queensland border, 900 kilometres away, which yielded 6 tonnes of uranium oxide.

The uranium treatment plant used an acid leach and ion exchange process until 1962 when the latter section was replaced with solvent extraction and magnesia precipitation to treat the Rum Jungle Creek South ore. Tailings were released into a poorly engineered shallow dam initially and after 1958 were put into White's pit.

As well as uranium, mineralisation at Rum Jungle included copper and lead. Some ore from White's was treated to recover copper, and in addition the Intermediate orebody was mined to a depth of 68 metres in 1964-5 solely for copper by Australian Mining and Smelting Company Limited*, a subsidiary of Consolidated Zinc (later Conzinc Riotinto of Australia, later Rio Tinto). This necessitated the diversion of the East Finniss River. About 360,000 tonnes of mill grade ore at 2% or more copper was recovered with another 370,000 tonnes of leaching grade ore (0.7-2.0% Cu). The latter** was treated in heap leach from 1965.

*This AM&S is not the same as a later CRA company bearing the same name.
** The heap leach consisted of 260 000

[esprit]

What does everyone think of the new IPO "U308 LTD" offered at 20c/share ? I read through the prospectus and it looks like it could be a bit of a potential earner? Would like to hear other opinions :)

[laurie]

lol rupert I swam in the same color pit at Mary Kathleen maybe its the sulphuric acid or lime that was added prior to tails disposal :D[:p]

cheers laurie

[kura]

Rupert & Laurie, would like to go there myself (Gee, might as well turn this into a holiday topic, on Ozz swimming holes, as trading Ozzie shares is exactly where holiday will be funded from)link to Mary Kathleen
http://www.sea-us.org.au/oldmines/marykathleen.html

To espirit, U308 is being floated out of GIR, most of shares were allocated to GIR shareholders, with small public allocation, due to tight supply situation expect it to list at a premium.

T10, yes enviromental impact is disgusting, typical of govt running it though, rules, rules, we make the bloody rules ! Though to be fair, you were talking about the height of the cold war, and U was viewed as a strategic asset in that context. (ie any enviromental delays, would have been "unpatriotic" ) Now knowing the background info of rum jungle, I can understand why greenies and some politicians are so anti Uranium mining, but past govt missmanagement should not taint an industry forever. I presume there are cleaner mining methods nowadays ?
The other thing in one of those websites was that you kind of got an idea of the frenzy that existed in Uranium at the time, which brings me back to reality, namely are we getting into the same frenzy now ?

[Packersoldkidney]

KAL looks a good 'un today.

[peter_s]

I'm holding KAL too, looks good ;)

[Moonshine]

Looks like we've hit the peak for most U stocks across the board.

Time for a bit of a re-trace/profit-taking before the climbs continue AFTER the deal with China is signed next week?

Just my opinion.

Moonshine

[peter_s]

Nice ann for KAL. Looking good! Once the China deal signed we're rich ;)

[Packersoldkidney]

Someone dumped a large parcel of KAL on to the market soon after open....took the chance to top up before it went into preopen.

Virtually all of the U juniors took a hit today: great day to buy.

[peter_s]

What do you think the ann will involve? I mistakenly read the one from earlier this month haha.

[mark100]

Not sure what its about. Might have something to do with their oil and gas interests in the US or of course Uranium. Just hope its not a placement!

[Packersoldkidney]

Had a raising not so long back....would be suprised if its another one. Reckon its either O & G in the States, or that they are going to spin off their uranium assets.

[peter_s]

But either of the latter would be good, right?

[trader10]

http://www.miningnews.net

A-Z Uranium Sector Snapshot (Part Seven - K/M/N)

Tuesday, March 28, 2006
Michael Vaughan

AS URANIUM passes $US40 per pound, MiningNews.net asks 15 questions of the companies comprising Australia's growing uranium sector. The survey will be published daily for the rest of March.




KALGOORLIE-BOULDER RESOURCES
Share price (at March 17): 16c
Market cap (at March 17): $5.26 million

1. Where is your mainstay project located?
The Lyndon prospect is the Company's mainstay project which is located 180 kilometres northeast of Carnarvon. The Company has an extensive uranium portfolio of 26 exploration licences or applications covering a total of 5,040 square kilometres in Western Australia and South Australia:
- Gascoyne Region – ten exploration licences covering an area of 1,184sq km.
- Kintyre East Uranium Project – joint venture with Redport Ltd (ASX: RPT) to explore five exploration licences covering an area of 868sq km.
- South Australia – 11 exploration licences covering an area of 2,988sq km.

2. When was it discovered?
The Lyndon prospect was discovered in 1972 by Pacminex Pty Ltd through radiometric and ground prospecting.

3. What is the company's stake in the project?
The Lyndon Project (ELA 09/1180) is the subject of an option agreement which, following the payment of exercise consideration, will give the company a 90% interest in the project. The Kintyre East Uranium Project is the subject of a joint venture with Redport Ltd and the Company has a 100% interest in all other projects within its uranium portfolio.

4. What work programs have been completed at the project? How much drilling has been carried out?
Extensive ground and airborne radiometric surveys have been undertaken. This was followed up by bulk sampling at shallow depth and reverse circulation drilling, with resource and reserve studies completed in 1973. Drilling has adequately tested only one of at least five medium to high intensity radiometric targets identified within the property.

5. What style/type of uranium mineralisation is at the project?
Shallow, calcrete hosted uranium mineralisation within the Lyndon prospect is derived from surrounding granitoid rocks which have a high background uranium content. The mineral is leached from the granitoids during weathering and deposited in favourable locations usually controlled by prevailing drainage patterns at the time.

6. What are the dimensions of the mineralisation? What are the levels/tenor/grade of mineralisation?
The mineralisation of the Lyndon prospect consists of 113 hectares of radiometric anomalous ground containing the five medium to high intensity radiometric targets referred to in question four above. The drilling in one of the radiometric anomalies indicated a high of 1.81kg/t uranium.

7. Is the project essentially a 'greenfields' proposition, or does it have a JORC-compliant resource? If it is not 'greenfields' and if it doesn't have a JORC resource, how much work needs to be done in order to establish one?
The company's prospects, including the Lyndon prospect, range from advanced exploration stage where drilling by previous holders has resulted in the delineation of defined zones of calcrete hosted mineralisation through less advanced prospects where initial reconnaissance exploration will focus on target definition. Refer to question ten below for information concerning the future development of the Company's uranium portfolio including the Lyndon prospect.

8. What is the potential size of the deposit?
Refer to question seven above.

9. How much cash has the company budgeted to spend on the ground at the project during 2006?
Refer to question ten below.

10. What is the company's current cash position?
On 21 March 2006, the company announced that the Directors are actively pursuing a strategy of divesting the company's uranium assets into a new entity with the consideration received being distributed to the shareholders of Kalgoorlie-Boulder Resources Ltd. Consequently, the current cash p

[trader10]

http://www.miningnews.net

A-Z Uranium Sector Snapshot (Part Eight – O/P/R)

Wednesday, March 29, 2006
Michael Vaughan

AS URANIUM passes $US40 per pound, MiningNews.net asks 15 questions of the companies comprising Australia's growing uranium sector. The survey will be published daily for the rest of March.




OMEGACORP
Share price (at March 17): 37c
Market cap (at March 17): $38.54 million

1. Where is your mainstay project located?
The company's most advanced project is the Kariba uranium project is 200 kilometres south of Lusaka in southern Zambia. OmegaCorp also has the Mavuzi project in Mozambique and the Mkuju River uranium project in Tamzania.

2. When was it discovered?
Uranium was first discovered at Kariba in 1956 and intensive work programs began in the mid 1970s.

3. What is the company's stake in the project?
100%

4. What work programs have been completed at the project? How much drilling has been carried out?
Significant work programs were completed historically at Kariba: 20,000m of diamond/percussion drilling, bulk sampling, metallurgical testwork, airborne and ground geophysics, geological mapping, resource calculations.

5. What style/type of uranium mineralisation is at the project?
Sandstone hosted.

6. What are the dimensions of the mineralisation? What are the levels/tenor/grade of mineralisation?
The two key prospects are briefly summarised below:

Mutanga – mineralisation covers approximately 1000m x 1000m in area.

Dibwe – Approximately 600m in strike length and 300m down dip.

Kariba Project - 12.45Mt for 10.92Mlbs of uranium oxide.

7. Is the project essentially a 'greenfields' proposition, or does it have a JORC-compliant resource? If it is not 'greenfields' and if it doesn't have a JORC resource, how much work needs to be done in order to establish one?
The project has a JORC compliant resource of 1Mlb uranium oxide and is considered to be brownfields development.

8. What is the potential size of the deposit?
We believe there is considerable potential from three other areas that were extensively drilled by AGIP and a considerable amount of blue sky.

9. How much cash has the company budgeted to spend on the ground at the project during 2006?
Spending a minimum of $US1 million at Kariba plus another $US3-500,000 on the other two projects.

10. What is the company's current cash position?
As of December 31 2005, there was $4.7 million.


11. Which contractors/consultants has the company been/intend using?
The consultants to date are:
Geoquest Limited – Geological consultants in Zambia
Continental Resource Management Pty Ltd – Resource consultants in Perth
Brendon Hammond – Principal Consultant – Ex Rossing uranium mine in Namibia, former MD of Argyle Diamond Mine
Geobase Australia Pty Ltd – GIS/Database management
SGS South Africa/Australia – sample analysis and metallurgical testwork
ALS Geochemex - South Africa/Australia – sample analysis

12. How is the project located in terms of infrastructure?
Very well – located within 30km of a bitumen road, good bush tracks to the key prospect areas. Ready power and water supply proximal to the project area.

13. How far away is a potential development? What is the potential size and timeline?
The project could be in production by September 2007. The aim is to produce 1-1.5m pounds of uranium oxide annually.

14. What are the potential capital/operating costs of the development? When will you likely know?
We should have indicative values at the end of the June 2006 quarter.

15. What are the main hurdles to reaching a development decision?
We do not see any at present



PACIFIC MAGNESIUM CORP
Share price (at March 17): 25.5c
Market cap (at March 17): $23.41 million

1. Where is your mainstay project located?
Olary, South Australia

2. When was it discovered?
Old workings date unknown, recent rock chip to 2.2% uranium oxide from Domenic prospect.

3. What is the company's stake in the project?
Earning up to 75%.

4. What work programs

[trader10]

http://www.miningnews.net


A-Z Uranium Sector Snapshot (Part Nine – S)

Thursday, March 30, 2006
Michael Vaughan

AS URANIUM passes $US40 per pound, MiningNews.net asks 15 questions of the companies comprising Australia's growing uranium sector. The survey will be published daily for the rest of March.




SCIMITAR RESOURCES
Share price (at March 17): 33c
Market cap (at March 17): $6.62 million

1. Where is your mainstay project located?
Yanrey Uranium Project 80km south east of Onslow, WA

2. When was it discovered?
1978 by CRAE.

3. What is the company's stake in the project?
100%

4. What work programs have been completed at the project? How much drilling has been carried out?
The project has recently been granted (Dec 05), previous drilling totalled 15,000m and the company has a 3,000m drilling program planned for early April 2006. Previous exploration utilised ground gravity and drilling to define the channel sequences. Scimitar intends to utilise Hoist EM to locate and better define additional channels.

5. What style/type of uranium mineralisation is at the project?
Sandstone hosted roll front.

6. What are the dimensions of the mineralisation? What are the levels/tenor/grade of mineralisation?
Drilling has intersected uranium mineralisation over 6km of channel sequences (up to 800m width). There is widespread mineralisation above 0.06% (600ppm) with higher grade zones up to 3.25m at 0.28% and 2.7m at 0.46% uranium oxide equivalent from previous drilling.

7. Is the project essentially a 'greenfields' proposition, or does it have a JORC-compliant resource? If it is not 'greenfields' and if it doesn't have a JORC resource, how much work needs to be done in order to establish one?
The previous results indicate a likely cost and timeframe of $1-$1.5 million and 12-18 months to a JORC resource stage.

8. What is the potential size of the deposit?
The target for the infill and exploration drilling is 3-6,000t of uranium oxide from the Bennet Channel, this is estimated taking into consideration previous results and that the next channel some 15km to the north hosts the Manyingee deposit of 12,000t at 0.08% uranium oxide help by Paladin Resources Ltd.

9. How much cash has the company budgeted to spend on the ground at the project during 2006?
The Company is still reviewing its exploration budget on all projects, it is anticipated approx $400,000 to $600,000 will be spent at Yanrey.

10. What is the company's current cash position?
$1.5 million

11. Which contractors/consultants has the company been/intend using?
Drilling - Wallis Drilling
Assaying - Amdel Laboratories
Tenement management - McMahon Mineral Title Services.
Geophysics - Resource Potentials

12. How is the project located in terms of infrastructure?
N/A

13. How far away is a potential development? What is the potential size and timeline?
N/A

14. What are the potential capital/operating costs of the development? When will you likely know?
N/A

15. What are the main hurdles to reaching a development decision?
N/A


SHERLOCK BAY NICKEL
Share price (at March 17): 5.9c
Market cap (at March 17): $40.17 million

1. Where is your mainstay project located?
Mt Salt is located 80km west of Karratha. Copper Bore Well is located 100km south of Onslow.

2. When was it discovered?
Mt Salt's radioactivity potential was first referenced in geological literature by AG Spence in 1962. Copper Bore Well was a target of ESSO in the 1970's.

3. What is the company's stake in the project?
Both are owned 100% by Sherlock Bay Nickel Corporation and are currently exploration licence applications (ELA's).

4. What work programs have been completed at the project? How much drilling has been carried out?
Mt Salt - Airborne magnetic and radiometric survey, rock chip sampling, scintillometer traverse, geometrics gamma ray spectrometer traverse, geochemical sampling, spectrometer surveys and broad spaced drilling.

5. What style/type of uranium mineralisation is at the project?
T

[trader10]

Yellowcake fever intensifies

Thursday, March 30, 2006
Ben Sharples

THE madness surrounding uranium has continued, with investors keen to feast on anything yellowcake-related, big or small, with A1 Minerals, Monax Mining and Joseph Gutnick's Quantum Resources just some that are reaping the benefits.



Fat Prophets analyst Gavin Wendt told MiningNews.net the demand for uranium stocks is being driven by the uranium price, but labelled the frenzy as "crazy" and "ridiculous".

"When an underlying commodity is performing strongly, obviously there is going to be significant interest in those companies in the sector," Wendt said.

"The only problem is … there is no indication outside of Paladin Resources that any of those other Australian companies will actually have the prospect of mining approvals being granted.

"There is no indication that any new mines will be given the go-ahead, if there is an expansion in uranium mining it is likely it will be related a couple of the existing major operations like Olympic Dam.

"There is no prospect and there has certainly been no indication by any of the state governments that they intend to change their view.

"Most of these uranium plays are so far removed from production that it is almost ridiculous to try and draw a line between the price of uranium and to try and put a value on those companies."

ANZ Global natural resources analyst Andrew Harrington told MiningNews.net he didn't think the "mania" surrounding uranium stocks was sustainable.

"People are running up the share prices of companies that have uranium prospect in areas that are not even allowed to mine," Harrington said. "It's crazy."

Budding gold producer A1 Minerals is the lastest to jump on the bandwagon, announcing preliminary imagery from a government radiometric survey has indicated the presence of "anomalistic" uranium channel radioactivity on its Narnoo exploration project in Western Australia.

The news sent A1 shares up 6c (20%) to 30c during morning trade, before the stock settled at 27c mid-morning.

Elsewhere, Monax Mining shares peaked at 37c, gaining 8c during morning trade on the back of news that the company had applied for two tenements around its Ambrosia project in South Australia's Gawler Craton.

Monax shares eventually settled at 32c mid-morning.

However, the standout performer was Quantum Resources, which surged more than 200% from 2.8c to 9.4c yesterday on the back of news the company would start exploring for uranium in Western Australia and the Northern Territory, as soon as the tenements were granted.

The stock eventually settled at 6.8c yesterday, with more than 22 million shares changing hands. The stock was off 1c during morning trade at 5.8c.

http://www.miningnews.net

T10 ;)

[trader10]

http://www.miningnews.net/premiumarea.asp

Yellowcake for all


Friday, March 31, 2006

URANIUM, uranium, uranium – that is the word on everyone's lips as precious metals reach new highs and copper continues its strong rise on the back of supply problems, while in the courts, lawyers for Fortescue Metals Group boss Andrew Forrest move to have legal action against him thrown out.



Uranium for Ivanhoe in Queensland
Ivanhoe Mines chairman Robert Friedland claims a new Cloncurry prospect containing uranium and called Amethyst Castle has the potential to deliver a "world scale discovery".

CVRD seeks 24% iron ore price hike
With iron ore producers and steel mills locked firmly in annual price negotiations, Brazilian mining giant CVRD has confirmed it is seeking a 24% increase in iron ore prices.

FMG lawyers challenge ASIC action
Lawyers representing Fortescue Metals Group boss Andrew Forrest move to have charges brought against him by corporate regulator ASIC in relation to market disclosure of certain agreements signed in 2004 thrown out, claiming Forrest met all his obligations.

Caterpillar, Mitsubishi to make mining trucks
Construction equipment giant Caterpillar joins forces with Japan's Mitsubishi Electric to produce a new line of AC electric drive mining trucks, reportedly the "largest investment" in mining trucks in Caterpillar's 80-year history.

ConsMin bids for Titan
Consolidated Minerals' hunger to build its nickel business may see it swallow Titan Resources after the diversified miner launches a $A29 million off-market takeover bid for the junior.

FMG gets Citigroup loan injection
Fortescue Metals Group's financial advisor Citigroup arranges a $US200 million ($A279 million) syndicated loan note facility for FMG, which the company says will allow it to keep to its timetable for development of its $2.5 billion iron ore project "without compromising the capital-raising process".

Energy Metals gains a big brother
Canadian interest in the Australian market continues, with uranium producer Denison Mines inking a $A4.5 million strategic alliance with junior explorer Energy Metals.

Kanmantoo study gets green light
Hillgrove Resources gives the green light to a pre-feasibility study at its flagship Kanmantoo copper-gold project in South Australia as it looks to kick a mining operation off by mid-2008.

Grange on the prowl for partners
Grange Resources opens the formal "international tender process" for a joint venture partner, or partners, for its $US1.2 billion ($A1.67 billion) Southdown magnetite project in Western Australia/Malaysia, with the aim of signing on preferred parties in the September quarter.

Niagara in demand
Investors warm to Niagara Mining and its prized Mt Windarra project in Western Australia, with recent drill results pushing the company's shares to a 52-week high.

Matrix closing in on White Range money
Westpac Bank provides Matrix Metals with up to $A40 million for its $59 million White Range copper project in Northern Queensland, with a further $15-25 million of funds hinted to be coming from an imminent off-take deal.

New resources for Summit next quarter
After completing resource definition drilling on five of its Mount Isa uranium deposits, Summit Resources expects the first of the new estimates to be ready by the end of the June quarter, though all of the deposits have yet to be closed off.

Another case of empty rhetoric or a failed bid?
First Quantum Minerals looks like it will have to sacrifice its credibility if it is to acquire Adastra Minerals, following the target company board's rejection of First Quantum's "final" offer.

Fox inks Jinchuan deal
Nickel producer Fox Resources secures $A4 million in financing and inks a binding off-take agreement with China's Jinchuan Group for all copper concentrate sales from its West Whundo copper-zinc project in Western Australia.

Helix to spin off platinum assets

[trader10]

http://www.miningnews.net

A-Z Uranium Sector Snapshot (Part Ten - T/U/W)

Friday, March 31, 2006
Michael Vaughan

AS URANIUM passes $US40 per pound, MiningNews.net asks 15 questions of the companies comprising Australia's growing uranium sector. Today is the final part of the snapshot.




TORO ENERGY
Recent listing
$18 million IPO

1. Where is your mainstay project located?
Large tenement package assembled in the in the Gawler and Curnamona Cratons - 42 properties 26,069 sq km.

2. When was it discovered?
The Toro Energy projects are at exploration stage only. Historical exploration has been undertaken on some of the properties.

3. What is the company's stake in the project?
Toro has rights to explore for uranium minerals on leases held by Oxiana, Minotaur Resources and associated joint venture partners over a suite of tenements in South Australia

4. What work programs have been completed at the project? How much drilling has been carried out?
Varying amounts of historical exploration drilling has been undertaken on the tenement package the past. Uranium specific exploration will commence on listing. Recently some drilling has been completed at the Warrior prospect and extended the known palaeochannel by some 4km.

5. What style/type of uranium mineralisation is at the project?
Roll-front uranium mineralisation in Tertiary paleochannels.
Roll-from uranium mineralisation in Permian paleochannels.
Roll-front uranium mineralisation at the Mesoproterozoic unconformity.
Uranium mineralisation within the Paleoproterozioic basement.

6. What are the dimensions of the mineralisation? What are the levels/tenor/grade of mineralisation?
Exploration stage only.

7. Is the project essentially a 'greenfields' proposition, or does it have a JORC-compliant resource? If it is not 'greenfields' and if it doesn't have a JORC resource, how much work needs to be done in order to establish one?
Two years exploration is proposed with expenditure of $4 million per year as per the Toro Energy prospectus.

8. What is the potential size of the deposit?
Different styles of mineralsation are being targeted including styles which generally occur as smaller higher grade and those which are larger lower grade deposits.

9. How much cash has the company budgeted to spend on the ground at the project during 2006?
$4 million.

10. What is the company's current cash position?
On floating cash position would be ~ $18million

11. Which contractors/consultants has the company been/intend using?
No specific contracts have been entered into at this stage.

12. How is the project located in terms of infrastructure?
N/A

13. How far away is a potential development? What is the potential size and timeline?
N/A

14. What are the potential capital/operating costs of the development? When will you likely know?
N/A

15. What are the main hurdles to reaching a development decision?
N/A



THUNDELARRA EXPLORATION
Share price (at March 17): 17.5c
Market cap (at March 17): $13.46 million

Thundelarra holds the Spinifex uranium project in Western Australia. The company failed to respond to the survey.
U3O8
$5 million IPO

1. Where is your mainstay project located?
Ten projects in WA, SA and QLD, most advanced is Dawson Well near Wiluna in WA.

2. When was it discovered?
Late 1970's (near Yeelirrie).

3. What is the company's stake in the project?
100%

4. What work programs have been completed at the project? How much drilling has been carried out?
In 1970's WMC and Carpentaria drilled 822 holes over 20km strike.

5. What style/type of uranium mineralisation is at the project?
Calcrete hosted (Yeelirrie type).

6. What are the dimensions of the mineralisation? What are the levels/tenor/grade of mineralisation?
Two zones of better grade within 20km of anomalous uranium, Dawson Well west 2km long greater than 0.04% uranium oxide, and Hinkler Well, small deposit at greater than 0.06% uranium oxide.

7. Is the project essentially a 'greenfields' propos

[Packersoldkidney]

I don't think it takes a brain surgeon's intelligence to know that U stocks will be firing up again next week.

[tapman]

Agreed, although I'm only a plumber. [8D]

[peter_s]

Well I agree to. But I'm a law student and have about 10 posts on here...haha. Here's to a profitable next week!

[Packersoldkidney]

A kidney, a plumber, and a law student walk into a bar. The barman says: "this isn't a bar, its actually an internet forum called sharetrader, and I'm not a barman, I'm actually a brain surgeon. The bar is next door, you three look like the type to go for the Stella on tap. By the way, uranium stocks will probably go well again next week. No joke"

[peter_s]

Lol. I got a good laugh out of that! Have a nice weekend mate!

[Packersoldkidney]

;)

[pago]

hi pok ,looks like we have new posters,the only ur stock im going to hold long term is aex,got any long term prospects with a hope of mining,watching omc,cheers pago.

[trader10]

Hi pago,

well....the best U stock in AUS IMHO are :

PDN - BHP - RIO/ERA - TOE as a late entry....

the rest- Mikey Mouse...... are specs, juniors wanna bees and hopefuls..........

I also take a punt on SAU, HMR and EXT.......

Have a great weekend....


T10 :)

[laurie]

T10
I would add to your list above AGS - Alliance Resources I don't think what they are sitting on is a Mickey Mouse outfit and their share is 25%! also BKY - Berkeley Resources have a look at their chart 12 months ago the sp was .10c all of this is JMHO

cheers laurie

[Skol]

I've got a few CMR, up yesterday on a bit of news. Who was it said not to bet against bull or bear markets because they always last longer than you've got money. May as well enjoy the ride.

[tapman]

Mtn have far to many results coming out in the next 2-3 months to go anywhere but up after yesterdays correction.

[trader10]

ABC Online, Australia - 39 minutes ago

AM - Wen Jiabao visit reignites uranium mining debate

http://www.abc.net.au/am/content/2006/s1605514.htm

AM - Saturday, 1 April , 2006 08:13:08

Reporter: Liz Foschia
ELIZABETH JACKSON: The Premier of China, Wen Jiabao, is due to arrive in Perth this evening, but already his visit is reigniting debate here about uranium mining and the storage of nuclear waste.

From Canberra, Liz Foschia has this report.

LIZ FOSCHIA: Chinese demand for uranium is forecast to climb to about 20,000 tonnes a year.

And Australia, which has around 40 per cent of the world's known uranium reserves, is seen as a secure and reliable source of that uranium.

But to meet China's needs, Australia would have to almost double current production.

That prospect has caused some in Labor to look again at its three mines policy, like the party's federal spokesman for primary industries and resources Martin Ferguson.

MARTIN FERGUSON: In my view, it's time to rethink the policy and potentially change it. Kim Beazley has this week said it will be subject to debate. And importantly, in a very responsible leadership position, South Australian Premier Mike Rann – because Olympic Dam and other mining deposits are so important to the economic future of South Australia – he said this week the policy's got to change. There's a live debate, not just in the Labor Party, it's a live debate in the Australian community.

LIZ FOSCHIA: Mr Ferguson says because of the importance of Australia's uranium resources to the world, it also has a global leadership role to play in making the world's nuclear industry safer.

He says Labor will carefully vet any agreement struck between Australia and China for uranium exports to ensure there are proper safeguards.

But no amount of safeguards will satisfy the Greens.

The party's energy spokeswoman is Christine Milne.

CHRISTINE MILNE: There's already a non-proliferation treaty. There's already a comprehensive test ban treaty and with the best efforts of the world's diplomats, they still haven't been able to make nuclear safe, and I don't think that Martin Ferguson can change that very readily.

LIZ FOSCHIA: Senator Milne says if Australia is thinking of increasing its uranium exports, it must also accept responsibility for the nuclear weapons and waste that will flow from that decision.

CHRISTINE MILNE: The Greens say that the uranium should stay in the ground and I call upon Martin Ferguson to say, if Australia is going to take global responsibility, where does Martin Ferguson say that the waste should go, and is the Labor Party going to call on Premier Wen next week to say whether or not China wants Australia to take back all of the nuclear waste?

Nuclear waste is a huge issue, and that is part of what has to be considered when all these people are rushing around, salivating at the prospect of increased uranium mining.

LIZ FOSCHIA: While the Chinese Premier's visit to Australia is likely to be dominated by the uranium issue, Paul Bourke from the Australia Tibet Council is hoping there will still be opportunities for other agendas.

PAUL BOURKE: It's one thing to have a good economic relationship with China, but it's also important that issues like human rights and Tibet aren't ignored in these meetings.

LIZ FOSCHIA: The group has asked the Foreign Affairs Minister Alexander Downer to make a request on their behalf.

PAUL BOURKE: We're wanting him to encourage the Chinese Premier into substantive dialogue with the Dalai Lama on the future of Tibet, specifically the Dalai Lama raised in his March 10 statement, the possibility of a religious pilgrimage by him to China.

ELIZABETH JACKSON: Paul Bourke from the Australia Tibet Council, ending Liz Foschia's report.

T10 :D

[trader10]

Decade to satisfy China's demand for our uranium


Nigel Wilson, Energy writer
April 01, 2006
AUSTRALIA is years away from being able to supply China with the 20,000 tonnes of uranium it is expected to import each year by 2015.

Resources Minister Ian Macfarlane, who will tomorrow brief Chinese Premier Wen Jiabao in Perth on Australia's trade, said it was unlikely there would be a new uranium mine in Australia before the end of this decade.

Officials from both countries were working last night on the final details of an agreement that would allow China to buy Australian uranium and explore for the energy material to feed its nuclear power industry.

Mr Wen and John Howard are expected to sign the agreement in Canberra next week.

"China is expected to be importing 20,000 tonnes of uranium within 10 years, which gives us a great opportunity to supply that demand if we can finalise an agreement," Mr Macfarlane said yesterday. "But turning the agreement into firm mines will take some time."

Mr Macfarlane said he thought it unlikely that Australia would bring any new uranium mines into production before the end of the decade. He repeated his call for Labor governments to reject ALP national policy banning the development of new uranium mines.

Mr Wen, who arrives in Perth tonight, faces a hectic program in the western capital.

He will be briefed by Mr Macfarlane tomorrow before travelling south to Kwinana to inspect the commercialisation of Australia's biggest research and development project, Rio Tinto's $300million HISmelt facility. China has a 5 per cent stake in the development, which is designed to produce a direct feed stock from iron ore for use in steel mills.

Mr Wen will also visit a research facility at Curtin University, which is involved in developing LNG technology for Woodside, the operator of the North West Shelf gas development. The project is scheduled to begin shipments of liquefied natural gas to China within the next three months, which will be China's first LNG imports.

West Australian Premier Alan Carpenter will also brief Mr Wen before hosting a lunch attended by business and political leaders.

Mr Wen's visit is expected to attract protests from dissident groups, including Falun Gong.

A spokesman for the West Australian police said Mr Wen had been offered a security package in accordance with his status as a visiting dignitary.


http://www.theaustralian.news.com.au/common/story_page/0,5744,18672765%255E601,00.html

T10 :D

[Packersoldkidney]

quote:Originally posted by pago

hi pok ,looks like we have new posters,the only ur stock im going to hold long term is aex,got any long term prospects with a hope of mining,watching omc,cheers pago.


Pago....some very good prospects out there: question is will the market conditions hold?

I don't think you can go wrong with uranium stocks during the next week with the visit of the Chinese premier.

Good luck with AEX...can't believe they once held the ground Paladin now have: that's one big stuff up in hindsight.

[stolwyk]

Up 40 cents to $41.00

[tapman]

AA, What info do you have that OMC may produce by Sept 2007 ?
Cheers Tapman

[pago]

quote:Originally posted by Packersoldkidney

[quote]Originally posted by pago

hi pok ,looks like we have new posters,the only ur stock im going to hold long term is aex,got any long term prospects with a hope of mining,watching omc,cheers pago.


Pago....some very good prospects out there: question is will the market conditions hold?

I don't think you can go wrong with uranium stocks during the next week with the visit of the Chinese premier.

Good luck with AEX...can't believe they once held the ground Paladin now have: that's one big stuff up in hindsight.
hi pok it seems azr sold the langerheinrich uranium project to pdn in 2002 for errr,$15000 plus royalties.just curious,how did azr get this ground from aex which i think was previously called acclaim uranium ltd.cheers pago.

[tapman]

Whoops, Never even noticed the OMC thread AA. Looks promising. Might have to have a dabble.Cheers

[trader10]

Australian, Australia - 48 minutes ago


China ready to sign uranium deal

April 02, 2006
CHINA has signalled it would agree to stringent safeguards allowing it to buy uranium from Australia.

Australia was expected to sign a deal with China this week, which will open the door to future uranium sales and likely pressure states to allow more uranium mines beyond Labor's national three mines policy.

Australia, which has about 40 per cent of the world's known uranium reserves, is keen to supply uranium to the Asian powerhouse as long as it adheres to strict criteria.

Chinese Premier Wen Jiabo has met Chinese and Australian officials in Perth today, the first day of a four-day visit to Australia.

"In our bilateral cooperation we should establish a long-term, stable and fundamental institutional and systematic safeguard," Wen said to a briefing of Chinese and Australian officials in Perth.









"Our energy and resources cooperation is ensured by such a safeguard and during my visit to Australia this time the two governments are going to sign the agreement for peaceful use of nuclear energy and safeguards of nuclear energy," he said through an interpreter.

Australian Prime Minister John Howard said earlier today that the rules governing uranium sales were rigorous and he did not expect China to ignore them.

"China is wanting world acceptance in so many ways," Mr Howard told the Ten Network.

"China sees herself as projecting influence and authority in the region – that's understandable given her size ..."

He said he did not think China was going to lightly give up the fairly hard-won reputation that she's trying to acquire

"The safeguards that we have adopted are very rigorous and unless we are going to declare to the world that we're not going to deal with anybody, then ... in relation to uranium we have to assume a certain degree of good faith."

Wen will meet Mr Howard in Canberra tomorrow.

His first official engagement was a meeting with federal Industry and Resources Minister Ian Macfarlane and he later inspected an iron smelter in an industrial area south of Perth.

Earlier today, Mr Howard said the deal to sell uranium to China would involve strict safeguards, warning the Asian superpower should not expect any special treatment.

Wen is the first Chinese premier to tour Australia since 1988 and the most senior official since President Hu Jintao visited in October 2003.

http://www.theaustralian.news.com.au/common/story_page/0,5744,18685567%255E29277,00.html

T10 :D

[trader10]

Australia 'too concerned about mining'


Sunday Apr 2 13:51 AEST
Australia is too concerned with environmental and social issues surrounding mining activities, managing director of uranium developer Paladin Resources Ltd John Borshoff says.

Paladin has gone offshore in its uranium exploration and is commissioning its first mine in Namibia in southern Africa this year.

The Langer Heinrich project hosts total resources of 40 million tonnes grading 0.06 per cent uranium, for 23,800 tonnes of uranium.

He said that in 2000 Paladin believed that Australia, where it had two significant assets, posed a political risk.




All new uranium explorers face the hurdle of federal Labor's three mines policy which, with Labor governing in every state and territory, effectively prevents the opening of new mines.

"The resource future in this early part of the 21st century belongs to Africa," Mr Borshoff told the ABC.

"Australia and Canada have become overly sophisticated.

"They measure progress in other aspects of economic development, and rightly so, but there's been an overcompensation in terms of thinking about environmental issues and social issues way beyond what is necessary to achieve good practice."

Mr Borshoff said the uranium industry was undergoing a paradigm shift for the next five years as nuclear facilities made electricity cheaper.

"The paradigm shift has happened because the nuclear utilities were working behind the scenes, it was an industry that nobody wanted to hear about," Mr Borshoff said.

"It became more and more efficient, making electricity more cheaply and meanwhile the supply industry was going the other way in terms of consolidation and going into a bunker of survival."

Earlier this month, uranium miner Toro Energy Ltd debuted onto the stock exchange trading 245 per cent above its 25 cent initial public offer price.

Toro was the latest in a steady stream of yellow cake floats to hit the market in the last 12 months as investors looked to cash in on growing demand for uranium and renewed debate about nuclear power.

Analysts say that, with demand for uranium rising, investors are banking on Labor changing its policy or the Commonwealth overriding the states.


©AAP 2006

http://news.ninemsn.com.au/article.aspx?id=93971

T10 :)

[trader10]

Last Update: Sunday, April 2, 2006. 4:01pm (AEST)

Govt to sign China uranium deal

Federal Resources Minister Ian Macfarlane has confirmed that Australia will sign a safeguard agreement with China which will clear the way for the sale of uranium potentially worth hundreds of millions of dollars.

Mr Macfarlane is confident the agreement to be signed tomorrow governing Australian uranium exports to China will ensure its peaceful use.

"In terms of the arrangement and what will be signed tomorrow, it is definitely a safeguard agreement," he said.

"It is the same agreement that has been signed, as I say, with 36 other countries around the world."

Mr Macfarlane is in Perth to provide a resources briefing to visiting Chinese Premier Wen Jiabao, who spent today touring key West Australian industrial and energy research facilities.

Premier Wen flies to Canberra this afternoon and will meet the Prime Minister John Howard on Monday.

The Australian Conservation Foundation (ACF) says it remains fundamentally opposed to any deal to export uranium to China.

ACF president Ian Lowe says such a move would further regional insecurity and increase nuclear risks.

"No matter how strong and how valid the assurances that China or any other country gives us, once we export uranium it's outside of our control, so we're making the world a dirtier and more dangerous place by exporting uranium," he said.

Professor Lowe is also not convinced by the argument that it would be environmentally better for power-hungry China to seek nuclear, rather than coal-fired, energy.

"Nuclear might be better than coal but it's not nearly as good as renewables," he said.

"Renewables are our real economic opportunity and the real environmental opportunity. In fact China's planning to get 15 per cent of its energy from renewables and only 6 per cent from nuclear."

http://www.abc.net.au/news/newsitems/200604/s1606605.htm

T10 :D

[trader10]

Seven.com.au, Australia - 14 minutes ago

China to agree to uranium safeguards
Date: 02/04/06


Chinese Premier Wen Jiabao has indicated Beijing will agree to stringent nuclear energy safeguards, opening the way for Australia to supply uranium to China.

The safeguards are to ensure uranium exported from Australia would be used only for civilian purposes and not for weapons or to replace domestic uranium supplies used to build nuclear weapons.

Australia has about 40 per cent of the world's known uranium reserves.

"In our bilateral cooperation we should establish a long-term, stable and fundamental institutional and systematic safeguard," Mr Wen said through an interpreter in Perth on Sunday.

"Our energy and resources cooperation is ensured by such a safeguard and during my visit to Australia this time the two governments are going to sign the agreement for the peaceful use of nuclear energy and safeguards of nuclear energy."

Mr Wen, who began his four-day tour of Australia in resource-rich Western Australia, visiting an iron smelter in the industrial suburb of Kwinana as well as the Woodside Hydrocarbon Research Facility in Bentley, also hinted uranium exports would be price capped.

"We are also going to set up a price formulation mechanism that is up to international norms and I believe this will provide a long-term benefit to our two countries," Mr Wen said through an interpreter.

But there had been no discussions on commercial arrangements for the export of uranium, Resources and Industry Minister Ian McFarlane said in Perth.

"Normal commercial practice will prevail in terms of price setting and we don't expect anything different on this," Mr McFarlane said.

"This is a straightforward safeguard agreement to be signed between the premier of China and prime minister of Australia."

Australia was still some distance from exporting uranium to China - the signing of the safeguard agreement was the first step, Mr McFarlane said.

"There will need to be a substantial expansion of the Australian uranium industry if we are to satisfy part of China's 20,000 tonnes per annum of demand in uranium," he said.

Mr Wen also met WA premier Alan Carpenter for lunch.

Before the lunch, Mr Carpenter said Mr Wen's visit showed the importance of WA to China.

"Last year, WA accounted for 53 per cent of Australian exports to China and China was our second largest export market," Mr Carpenter said.

But it appears Mr Carpenter will not waiver in his opposition to uranium mining.

"When we got elected one year ago, we got elected with policies that included no mining of uranium, the West Australian people elected us with that policy," Mr Carpenter told ABC radio.

"That's the policy we've got, everybody knows it and it's not changing."

Mr Wen will fly out of Perth on Sunday afternoon.

http://seven.com.au/news/nationalnews/158579

T10 :)

[trader10]

CNN International - 38 minutes ago

China ready to meet uranium rules

PERTH, Australia (Reuters) -- Chinese Premier Wen Jiabao has said China was prepared to meet Australian safeguard requirements for the purchase of uranium.

Australia, which has about 40 per cent of the world's known uranium reserves, is ready to supply uranium to meet China's energy needs as long as the Asian giant adheres to strict criteria.

"In our bilateral cooperation we should establish a long-term, stable and fundamental institutional and systematic safeguard," Wen said Sunday in Perth on the first day of a four-day visit to Australia.

"Our energy and resources cooperation is ensured by such a safeguard and during my visit to Australia this time the two governments are going to sign the agreement for peaceful use of nuclear energy and safeguards of nuclear energy," he said through an interpreter.

Australia requires countries to have signed the Nuclear Non-Proliferation Treaty and to agree a separate nuclear safeguards deal with Canberra before it will export uranium.

Wen meets Prime Minister John Howard in Canberra on Monday, when they are expected to sign the deal on uranium exports.

Interviewed on television on Sunday, Howard said he was confident Australia would be able to enforce any safeguards it places on the agreement.

"China is wanting world acceptance in many ways," Howard said. "China sees herself as projecting influence and authority in the region. That's understandable, given her size and I don't think she's going to lightly give up the fairly hard-won reputation that's she's trying to get."

Howard repeated his government's position that it had no present intention to change its policy on uranium trade to allow exports of the mineral to India.

Yet Australia is sending officials to India next month to find out more about a U.S. deal that will see India receive U.S. nuclear technology in return for separating its military and civil facilities and opening civilian plants to inspections.

Howard said he supported the U.S. deal, but that did not mean Australia was considering a change in its uranium trade policy.

China is expected to build 40 to 50 nuclear power plants over the next 20 years, while India is looking to boost its nuclear power industry, which currently accounts for only 3 percent of energy production.

Australia has 19 nuclear safeguard agreements, covering 36 countries, including the United States, France, Britain, Mexico, Japan, Finland and South Korea.


During Howard's visit to China in April 2005, he and Wen agreed to negotiate a free trade agreement.

http://edition.cnn.com/2006/WORLD/asiapcf/04/02/australia.china.uranium.reut/

T10 [8D]

[trader10]

[April 02, 2006]


= China's Wen Calls For Pricing Move On Australian Uranium

(Comtex Energy Via Thomson Dialog NewsEdge)By Stephen Bell
Of DOW JONES NEWSWIRES

PERTH, Apr 02, 2006 (Dow Jones Commodities News Select via Comtex) --Chinese Premier Wen Jiabao said Sunday that he wants to establish a pricing formula for Australian uranium that will ensure a stable supply of the nuclear fuel.

The call by Wen in Perth at the start of a four day tour of Australia comes amid record high prices for uranium and China's continued unease about soaring commodity markets, particularly pressure on iron ore prices.

His comments were delivered on the eve of a bilateral safeguard deal, due to be signed in Canberra Monday, which will allow China to buy Australian uranium.

As part of its diversification away from coal-fired power, China is also set to begin imports of liquefied natural gas from the Woodside Petroleum Ltd. (WPL.AU)-operated North West Shelf venture later this year.

China wants a "stable relationship between supply and demand" for uranium, Wen said, in responding to a briefing by Australian resources minister Ian Macfarlane on the country's overall mining and energy sector.

"We are also going to set up a price formation mechanism that is up to international laws," he added.

One analyst, who did not want to be identified, said that Wen's comments demonstrate China's eagerness to secure long-term supplies of energy and raw material amid a backdrop of record high prices for several commodities, including uranium.



"Many Chinese companies have suffered substantial cost increases because raw materials prices have gone through the roof in the past few years," the analyst said.

But Australia's Macfarlane said there have been "no discussions" on pricing as part of the uranium agreement due to be signed by Premier Wen and conservative Australian Prime Minister John Howard.

And there is an "unrealistic expectation" that uranium exports to China will begin soon after Monday's signing of the safeguard deal, Macfarlane said.

"We are some distance away from exporting uranium to China," he said, adding that commercial talks will need to occur between Australian and Chinese companies.

Those discussions will lead to sales contracts that "may be able to be filled by the expansion of existing mining operations", including (BHP Billiton's (BHP) Olympic Dam operation in South Australia, he said.

"There will need to be a substantial expansion of the Australian uranium industry if we are to satisfy part of China's 20,000 ton per annum of demand in uranium," Macfarlane said.

China plans to meet its growing energy demand with a fourfold increase in nuclear production by 2020.

Iron Ore Prices Remain Contentious Issue
Australia has the world's biggest uranium reserves, with Olympic Dam holding 38% of the world's known resources. Two other uranium mines are running. Ranger, in the Northern Territory, is operated by Energy Resources of Australia Ltd. (ERA.AU), a unit of Rio Tinto Plc. (RTP). Beverley, in South Australia, is managed by Heathgate Resources, an affiliate of California-based General Atomics.

A fourth deposit, Honeymoon, has permits to mine uranium and is expected to decide whether to bring the project into commercial production by mid-2006.

Asked if he is confident that China won't attempt to "cap" prices of uranium, a reference to recent speculation of price capping efforts by Chinese iron ore importers, Macfarlane said: "The Chinese government has made it emphatically clear that the (price) negotiations on iron ore will be commercial negotiations between the steel mills and the suppliers - not only from Australia but also from Brazil."

China has been vocal in its opposition to recent moves by iron ore exporters including BHP, Rio Tinto and Brazil's CVRD (RIO) - to seek a contract price hike of as much as 24%, on top of the 71.5% rise agreed to last year. These companies account for about 70% of the export iron ore coal trade.

The steep price increases have prom

[trader10]

Uranium exports to rise fivefold

Andrew Trounson
April 04, 2006

AUSTRALIA'S export earnings from uranium appear set to rise by almost five times within the next 10 years, to about $2.3 billion, courtesy of rising prices, new demand from China and an expansion of BHP Billiton's Olympic Dam mine in South Australia.

And that is all without the Labor-controlled states of Queensland, Western Australia and South Australia lifting their bans on new uranium mines, raising the prospect of additional earnings.

But the trade with China might only deliver Australia about $300million, with our mines supplying an expected one-third of China's annual needs.

For a commodity that is earning Australia just more than half of what we earn from cheese exports, it is a big jump, primarily driven by the world's rising demand for power and a drawdown in ex-military stockpiles that would have to be compensated for by new production.

But amid all the hype and security fears over yesterday's signing of a nuclear safeguards treaty that, for the first time, allows Australian mines to sell uranium to a nuclear-armed China, the resource will still rank a long way behind coal, iron ore, oil and gas in terms of its relative importance to the Australian economy.









Australia sold almost $4billion worth of iron ore to China in 2004-05 and sales will top $6billion in 2005-06. Australia exported more than 11,200 tonnes of uranium oxide in 2004-05, generating $489million in export income, compared with $875million from cheese.

But those uranium earnings numbers reflect long-term price contracts that do not account for market prices almost quadrupling to more than $US40 a pound in less than three years.

The Australian Bureau of Agricultural and Resource Economics is now forecasting long-term prices at just less than $US30 a pound.

On top of that, BHP Billiton plans to triple uranium production at Olympic Dam, to 15,000 tonnes, by 2013.

US-based General Atomics expects to add 500 tonnes to production at its Beverley mine in South Australia from 2009. It produces 1000 tonnes a year.

And Toronto-listed SXR Uranium is expected to have its already permitted Honeymoon deposit in South Australia producing about 400 tonnes a year from 2008.

These alone would almost double Australia's production to more than 22,000 tonnes a year by 2013. Based on a long-term price of $US30 a pound and an Australian dollar at US65c, that would generate about $2.3billion in annual export revenue.

Ian Hore-Lacy, head of the Melbourne-based Uranium Information Centre that promotes the industry, estimates that China could be accounting for about 3000-4000 tonnes of our uranium exports a year by 2020.

While federal Resources Minister Ian Macfarlane has talked of China's uranium demand rising to about 20,000 tonnes a year by 2015, from 1300 tonnes currently, Mr Hore-Lacy estimates that China's import demand will be only half that by 2020, at 10,000 tonnes, of which Australia can hope to secure a third.

That would put a value on the Chinese deal at $300million to $400 million a year by 2020.


http://www.theaustralian.news.com.au/common/story_page/0,5744,18702618%255E2702,00.html


T10 :)

[stolwyk]

Scott Wright: Uranium Bull 2:

http://www.gold-eagle.com/gold_digest_05/wright042806.html

[stolwyk]

U price: 42.75 (+1.25)

[GB]

Now at 43 -The chinese and pebble technology sounds interesting - could change the face of energy production -which only means higher U prices

[Skol]

Newsclip about nuclear power in The Age today.
www.theage.com.au/news/business/general-electric-warms-up-a-slice-of-nuclear-pie/2006/05/25/1148524815838.html

[Skol]

More good news for U308 bulls.

www.theage.com.au/news/business/bhp-probes-untold-uranium-riches/2006/05/30/1148956345829.html

[troyvdh]

Not sure if this has been mentioned ....an article in New Scientist (4 March) about how the Swedes and Fins are dealing with nuclear waste is interesting reading.

[stolwyk]

+ $1 to $44.0

[stolwyk]

Price: $45 (+1)

[stolwyk]

Movement of Uranium prices:

http://www.uraniumminer.net/market_price.htm

[stolwyk]

Up 50 cents to $45.50

[Snopig]

Is there a website that has the updated price of U308?

[Sunshine007]

Hi Snopig, try this one: http://www.uxc.com/

[Snopig]

Great thanks for that Sunshine007.

[stolwyk]

Russians could send 'yellow cake' prices soaring ....

http://www.stockhouse.ca/shfn/editorial.asp?edtID=18475

Pure Energy: Uranium's Explosive Profits
Thursday, July 13, 2006
By Michael Schaefer

Click here for StockHouse Conflicts and Disclosure Policy





Russians could send 'yellow cake' prices soaring
Believe it or not -- tomorrow, July 14th, Russian President Vladimir Putin is going to drop a hellacious bomb on the uranium market. And the damage the Russians are about to do could be far worse than anything the Iranians or North Koreans could slap together.

Here's what I mean…

Tomorrow, the Russians will make their most aggressive nuclear play in decades, when world leaders assemble in St. Petersburg, Russia for the G8 Summit. At this meeting, President Putin will put an end to a deal they made over a decade ago with the U.S. This agreement has allows American companies to buy uranium at basement level prices.

How's that?

Well I'll tell ya…it started at the end of the Cold War, in 1991, with the break-up of Russia into its constituent republics. Four decades of stock-piling nukes came to an end. Two years later, the United States and Russia signed what is known as the U.S.-Russian HEU (highly enriched uranium) Agreement.

Under the terms of this agreement, Russia promised to supply U.S. companies with highly-enriched uranium, recycled from old Soviet nuclear warheads -- sort of a 'megatons to megawatts' program.

The agreement called for the delivery of 500 metric tons of highly-enriched uranium over the 20-year life of the agreement. (By the way…500 metric tons of highly-enriched uranium is the equivalent to 20,000 nuclear warheads)

So far, U.S. companies have taken delivery and used 275 metric tons of the Russian weapons grade uranium. But now that President Putin plans to cut the agreement short, U.S. companies will lose out on the remaining 225 metric tons.

This uranium -- having the energy equivalency of 4.7 Billion barrels of oil -- is extremely important to the sustainability of nuclear power in the United States. Why? Because roughly half of the supply of uranium at U.S. reactors comes from this agreement.

So why the heck are the Russians pulling the plug anyway?

Why else. -- Money!

The Russians are furious because the HEU Agreement allows U.S. companies to buy the uranium at a fixed price. During the year the agreement was sign --1993 -- uranium was selling for less than $10 a pound. Today, the energy metal sells for more than 350% higher.

And here's the thing: uranium is still selling for rock-bottom prices. At last look Uranium was selling for $45.50/pound. Think about how cheap that is for a second… 45 bucks is about what you'd pay for two cases of decent beer. But today's uranium levels aren't going got last long, no way. Everything I've studied points to higher uranium levels and I think prices could increase drastically - and so do the Russians. We'll talk about how high I think uranium prices could go in just a sec. Back to the Russians.

Now, Putin's decision to play hardball with the United States is not only about getting a fair price for his country's uranium. The Russian President is much smarter than that. Putin and his energy experts clearly recognize that uranium is on the verge of a historic bull market. So he's taking measured steps in order to position his country perfectly. In fact, according to the Moscow Times…on June 9th, Putin took a dramatic first step toward nationalizing his country's uranium market when he approved "a plan to gather all civilian nuclear sector enterprises into a single, market-driven corporation along the lines of France's Areva or Germany's Urenco."

Then on June 28th, Russian nuclear energy chief Sergei Kiriyenko announced that all uranium exploration and mining assets -- both in Russia and in the Commonwealth of Independent States -- will be combined into a single, state-owned enterprise. No private investment will be allowed.

Next up...the July 14-17, G8 Summit in St. Petersburg. So, aft

[stolwyk]

USEC to lose sole Russian uranium rights - Rosatom
Sat Jul 15, 2006 11:39am ET
Email This Article | Print This Article | Reprints [-] Text [+] By Christian Lowe

ST PETERSBURG, Russia, July 15 (Reuters) - U.S. uranium trader USEC Inc. (USU.N: Quote, Profile, Research) will lose its exclusive right to import Russian nuclear fuel to the United States by 2009 at the latest, Russia's atomic energy chief said on Saturday.

Sergei Kiriyenko said an agreement on civil nuclear cooperation announced by U.S. President George W. Bush and Russia's President Vladimir Putin contained a clear mandate for the U.S. government to end the monopoly.

If that does not happen, Russia will seek to overturn the monopoly in the courts anyway, said Kiriyenko.


Bush and Putin, meeting on the eve of a Group of Eight summit in Russia's second city of St Petersburg, issued a statement on Friday on civil nuclear cooperation.

It included a line that the two sides recognised the benefit of a commercial trade in civil nuclear material and technology.

"As far as getting rid of monopoly intermediaries is concerned, (that is) the magic phrase," Kiriyenko, head of the Rosatom agency, told a news briefing. "That is all we need."

He said Russian officials were in "active negotiations today" with the office of the U.S. Trade Representative on ending the USEC monopoly.

"By my estimates the process will take two or three years. If we take the negotiated route it can be resolved more quickly, in the course of this year. If in the courts it will be resolved in the course of two or three years."

Under a programme known as "megatons to megawatts", the United States imports uranium recovered from Russian nuclear weapons that have been dismantled in line with arms reduction treaties signed at the end of the Cold War.

The recovered material is used to fuel U.S. nuclear power stations. Washington has given USEC exclusive rights to import that uranium.

Anti-dumping tariffs that the U.S. government imposed on Russian nuclear fuel in the 1990s make importing any other uranium from Russia prohibitively expensive. The recovered uranium is exempt from those tariffs.

"A monopolist go-between ... is not liberal, it is not (consistent with) a market economy," Kiriyenko said.


"We want to sell direct to American companies at a fair price and American companies want to buy from us openly and under market conditions."

Russian state nuclear firm Techsnabexport, also known as Tenex, said last week it had filed a petition in a U.S. trade court challenging a decision to prolong anti-dumping measures against Russian nuclear materials

http://today.reuters.com/stocks/QuoteCompanyNewsArticle.aspx?view=CN&storyID=2006-07-15T153903Z_01_L15885282_RTRIDST_0_GROUP-NUCLEAR-USA.XML&rpc=66

[stolwyk]

Spot price: $47.25:

http://www.uranium.info/

[stolwyk]

Uranium stockpiler to list on AIM
By: Julius Cobbett
Posted: '18-JUL-06 12:52' GMT © Mineweb 1997-2006

Millions of pounds of uranium are being accumulated on behalf of investors who eventually hope to sell the radioactive metal at a profit. In a trend similar to exchange-traded funds for commodities like gold and silver, Nufcor Uranium Plc will list on London’s Aim market on Friday with about 2 million pounds of uranium held on behalf of its shareholders.

Nufcor, a Guernsey-registered company has sold 33 million shares at #8356;2.05, giving it a market value of #8356;67.7 million.

Nufcor’s offering is similar to Toronto-listed Uranium Participation Corporation (UPC), which holds about 4 million pounds of uranium on behalf of its investors. In May Mineweb reported that uranium spot prices had hopped 20% in two weeks after UPC raised CDN$90 million to buy about 1.85 million pounds of the metal.

But Nufcor CEO Charles Scorer says he doesn’t expect a uranium price jump with his offering. “When they (UPC) came out they raised the money first and then purchased the uranium.”

The 2 million pounds of uranium has already been accumulated by Nufcor International, a nuclear fuels trading company that will retain about 10% of Nufcor Uranium, says Scorer. Nufcor International will sell the uranium to Nufcor Uranium at market prices, he says.

Scorer declined to divulge details on Nufcor’s administrative and other costs or its major shareholders before the company floats on Friday.

Undeveloped market

Investment products like Nufcor’s could be the first step towards developing the financial market for uranium. Scorer says that about 90% of uranium sales take place between miners and end users with no forward market in existence. “There is no financial sophistication,” says Scorer “It’s very much a physical market.”

Scorer says the industry is fairly contained with fewer than 450 nuclear reactors and just a handful of uranium producers. However, he believes there is potential for the market to develop along the lines of other commodities.

For example, investment demand for gold has been so strong that gold exchange-traded funds have become an important variable in the price of the precious metal. This is unlikely to happen with uranium just yet, says Scorer, as annual demand is many times greater than investment stockpiles.

Storage concerns?

Uranium held by investors must be stored in a secure location to prevent it falling into the wrong hands. Scorer says that Nufcor’s uranium is held at processors. The three main western processors are in France, Canada and USA, he says. The International Atomic Energy Agency regulates processing facilities and security is tight.

One of the qualities of uranium, says Scorer, is its energy density. “The amount of storage you need is infinitesimal,” he notes. “Storage volume will never be an issue.”

[Skol]

U308 stocks up yesterday and according to the NZ Herald one analyst says "despite high levels of volatility, big portions of the market see uranium stocks as the potential source of high growth".

[stolwyk]

http://www.sundayherald.com/56617

Revealed: G8 plan for global nuclear expansion

By Rob Edwards Environment Editor

World leaders are planning a massive expansion of nuclear power in their own countries and across the developing world, according to documents drawn up for the G8 summit and leaked to the Sunday Herald.
An action plan for “global energy security” to be agreed in St Petersburg next weekend envisages a network of nuclear fuel plants in G8 countries combined with the widespread sale of reactors to developing countries – as long as they promise not to use them for making nuclear bombs.

G8 leaders also want to resurrect fast breeder reactors, which are highly controversial because they “breed” plutonium, a nuclear explosive. It was this type of reactor that was pioneered, and abandoned, at Dounreay on the north coast of Scotland.

Environmentalists accuse leaders of “double standards and dangerous hypocrisy”. But the G8’s nuclear plans are likely to be backed by Prime Minister Tony Blair, whose own much-heralded energy review favouring new nuclear stations in the UK is due to be launched this week.

The G8 summit is due to take place in St Petersburg between July 15 and 17, just over a year

after the leaders of the world’s eight most powerful countries met at Gleneagles in Scotland. This time it will be led by Russian president Vladimir Putin, who has put global energy security at the top of the agenda.

Confidential drafts of the energy “plan of action” drawn up by the “sherpas”, the senior G8 officials who guide prime ministers and presidents towards the summit, have been passed to the Sunday Herald.

One of the plan’s main aims is to spread nuclear power stations around the globe.

The latest version of the action plan says: “Those of us who have plans relating to the use and/or expansion of nuclear energy believe that its development will promote prosperity and global energy security, while simultaneously offering a positive contribution to the climate change challenge.”

Improving the economic com petitiveness of nuclear power will “benefit all nations”, the plan argues. But nuclear expansion has to be based, it says, “on a robust regime for assuring nuclear non-proliferation and a reliable safety and security system for nuclear materials and facilities”.

The idea is to keep the more sensitive nuclear facilities that can be easily diverted for making bombs within the G8. Other countries would not be allowed to enrich uranium fuel, or to reprocess spent fuel to extract plutonium.

They will be permitted to run reactors to generate electricity but will have to buy fuel enrichment and reprocessing services from G8 countries. “Participation of developing countries in a ‘shared nuclear energy system’ through developing the network of international centres providing nuclear fuel services could be a viable option for reducing their energy poverty and bridging the energy gap,” the plan says.

At the same time, G8 leaders are proposing to bring back fast breeder reactors, which were scra pped in Germany, France and the UK in the 1990s because they were too expensive. They are designed to create and burn plutonium and are much less reliant on imports of uranium.

The leaked action plan says: “A significant step in promotion of self- sustainable nuclear power would be attained through the development of innovative nuclear power systems based on closed nuclear fuel cycles with fast neutron reactors.”

This is a dramatic change, since fast reactors have been off the political agenda in Western countries for at least a decade. And it will run into fierce opposition because of the risks it poses for international efforts to control the spread of nuclear weapons.

“We’ve come to expect double standards and dangerous hypocrisy from the G8 but this year they are set to surpass themselves,” said Shaun Burnie of Greenpeace International.

“On the one hand we have the endorsement and promotion of the most dangerous nuclear technology ever conceived – plutonium fast breeder reactors and

[stolwyk]

List of Uranium Companies:

http://www.wise-uranium.org/ucomp.html

[trader10]

4 August 2006

Australian uranium production lags

Uranium production from Australia's three mines was down during the first six months of 2006 - 27% less than the overall 2005 rate. ERA announced production from Ranger of 1988 tonnes U3O8 (1686 tU), reduced due to acid plant problems and a cyclone. BHP Billiton reported Olympic Dam production of 1768.6 t U3O8 (1777.7 t UOC, 1500 tU), and Heathgate production from Beverley of 362.5 t U3O8 (307.4 tU). This gives total Australian production of 9951 t U3O8 (8438 tU) for the 2005-06 year.
ERA 26/7/06, BHPB 25/7/06, Heathgate 2/8/06.

Canadian uranium production drops

Production from Canada's three mines in the first six months of 2006 dropped 33% compared with 2005 rate. Cameco reported production of 3864 t U3O8 (3276.5 tU) from McArthur River and 1178 t (999 tU) from Rabbit Lake. Production from Areva's McClean Lake was 302 t U3O8 (256 tU) due to much lower grade ores. This gives six month Canadian total of 5344 t U3O8 (4531.5 tU).
Cameco 28/7/06, Areva RC.

[stolwyk]

Uranium price: $48:
http://www.uxc.com/review/uxc_Prices.aspx

[stolwyk]

+25 cents to $US48.25

http://www.uranium.info/

[stolwyk]

Nufcor listing to fly amid unique market

David McKay
Posted: Tue, 18 Jul 2006
[miningmx.com] -- FEARS that the uranium market might become subject to some of the zealous trading experienced in other commodity markets seems misplaced. “It’s not really like any other commodity market,” says Charles Scorer, CEO of Nufcor International, the British-based marketing and research company.


The uranium price had improved to around $46/lb from under $10/lb at the beginning of 2004. The price gains are of a similar quantum to the more recent improvement in the traded prices of some base metals and precious metals, such as gold and platinum.

In some cases, such as copper, buying has been so great as to suggest unsustainable speculative interest. That doesn’t appear to be a factor in the improvement in uranium prices.

According to Scorer, a key difference separating the uranium market from other commodities is its relative immaturity. “You can’t really say there was a proper uranium market before the late Sixties,” says Scorer. “And since then the market has been dominated by large above ground stocks.”

These are the strategic inventories kept during the Cold War by both the US and the Soviet Union. During the Nineties the oversupply of uranium was exacerbated by the so-called “down blending” or Soviet weapons grade uranium into commercial fuel.

However, those stocks are being depleted and underinvestment in new sources of uranium has meant suppliers can’t respond quickly enough to a concurrent spike in demand for uranium.

It’s against this background that Nufcor International announced earlier this week that it had raised $123m by selling shares in a new company, Nufcor Uranium, on Britain's Alternative Investment Market.

Nufcor, which is jointly held by South African firms AngloGold Ashanti and Rand Merchant Bank, stocks and trades uranium as well as offering leasing and inventory management services. It also provides risk capital to projects in the nuclear fuels business, which adds an obvious further dimension to Nufcor.

“The uranium industry is currently woefully unprepared to cope with such a dramatic future demand increase,” said Sacha Borthwick, an analyst at British stockbroker HargreaveHale in a report in April.

There are also exogenous factors affecting the supply of uranium, including limitations on uranium mining licences, which are restricted in Australia. “We’ll see more commercial production from Australia,” says Scorer, even though permitting is a major issue. “But in the end there’s an environmental and commercial case to be made for uranium.”

However, native title issues, inflationary pressure on new mine economics, a shortage of skills and the relative dearth of economically sustainable large-scale mining operations are factors that come into play.

Amid depleting sources of fossil fuels, increasing environmental pressure on emissions and improvements in nuclear safety demand for nuclear reactors is outstripping supply. In addition, a 40% increase in the current tally of 441 reactors is expected with world electricity supply expected to double within the next 25 to 30 years.

Total world reactor uranium oxide requirements in 2004 was 172 million pounds compared to primary supply of 104 million pounds.

“Primary uranium supply is increasing – but not fast enough,” says Borthwick. “Lead times for new uranium mines are very long – sometimes more than 20 years – and there have been no new major uranium deposits discovered in the past two decades.”

Scorer agrees that uranium mines haven’t been ramped up quickly in the past, but adds there was no need to do so. “Under pressure you could find supply coming on quicker than expected.”

There’s wide variation in where the price of uranium oxide – the so-called “yellow cake’ that’s supplied for enrichment – will stabilise. Resource Capital Research suggests $50/lb by 2007, while HargreaveHale estimates an average price of $45/lb in 2007 and 2008, increasing to $50/lb in 2009, adding that its estimates are deliberately cons

[stolwyk]

New price: $53

[Skol]

http://www.theage.com.au/news/business/powerful-argument-for-nuclear/2006/09/19/1158431711366.html

[stolwyk]

Powerful argument for nuclear power stations

Michael Backman
September 20, 2006
Page 1 of 2 | Single page
IS URANIUM a good bet? If the evidence from Asia is anything to go by, the answer is yes. The economies of China and India are growing fast. Neither produce enough power for existing requirements.

The US Government's National Intelligence Council has estimated that India's energy consumption will at least double by 2020. China's will rise by 150 per cent. That heralds an environmental disaster.

Why? Because the power that both produce comes largely from the dirtiest, most harmful means: burning coal. The situation is unsustainable. Nuclear power is an obvious solution and, in a few decades, Asia could be home to at least half the world's nuclear reactors.

Coal burning accounts for about 70 per cent of the energy produced in China, compared with a global average of about 25 per cent. China wants to get this down to 60 per cent by 2020, but even if it is possible it will mean coal-generated power will dramatically increase in absolute terms.

As things stand, China uses more coal than the US, the European Union and Japan combined, and its coal consumption this year is up

14 per cent on last year. According to one report, a new coal-fired power station opens in China every seven to 10 days.

Not surprisingly, China has quickly become one of the most polluted countries. Air quality is abysmal. Official estimates are that 400,000 Chinese die each year from diseases related to air pollution. Separately, the World Bank says 16 of the world's 20 most polluted cities are in China.

Pollution levels in India are also rising but the problem is not as acute as in China. Nonetheless, India is stepping up its construction of coal-fired plants, meaning that its greenhouse gas emissions will accelerate. And given that India's population is expected to pass China's in 2030, that's a worrying trend.

Both are looking to generate more power from gas and hydro-electric schemes. But both sources will only slow the rate of growth of greenhouse gas emissions. And so nuclear energy is looking increasingly viable, and even desirable.

According to the World Nuclear Association, of the 442 operational reactors in the world, almost a quarter, or 109, are in Asia. Another 28 are under construction worldwide. Fifteen of these are in Asia. More are planned, so that in total, 285 nuclear reactors are either operational, under construction, planned or proposed for South and East Asia.

The most nuclear of Asia's economies are South Korea, Japan and Taiwan, which generate 45, 29 and 20 per cent respectively of their power from nuclear sources. China's nuclear power plants generate just 2 per cent and India's 2.8 per cent. This is when, worldwide, nuclear accounts for 16 per cent of all the power generated. There is room for growth.

A sign of things to come was the nuclear co-operation treaty between India and the US earlier this year. And the US Government's Export-Import Bank recently provided US company Westinghouse with $US5 billion in loan guarantees for bids to supply technology to build nuclear power plants in China's Guangdong and Zhejiang provinces.

Australia's agreement to sell uranium to China is instructive, as was the recent announcement that a representative of China's main nuclear power plant operator, the Chinese National Nuclear Corp, had joined the board of South Australia-based explorer UraniumSA, which is preparing to float on the stock exchange.

China plans a fivefold increase in its nuclear power capacity by 2020. It now has 10 operational nuclear reactors. With five more under construction, 13 more planned and a further 50 proposed, China expects to have at least 78 nuclear reactors in the future.

Assuming that each new plant will consume the same uranium as the average of the existing plants (in fact, the newer plants are likely to consume more), then

China's annual demand for uranium will rise to at least 10,093 tonnes, from the current 1294 tonnes.

That's almost a tenfold in

[stolwyk]

http://www.stockinterview.com/News/09202006/Russia-Bambrough.html

Russians Expecting $100/Pound Uranium

Sprott Market Strategist Believes New Reactor Inventory Could Take Price Higher


On Tuesday, September 19th UxC announced a new highest ever spot uranium price.

In a speech at the 50th annual regular session of the International Atomic Energy Agency (IAEA) General Conference in Vienna, IAEA chief Mohammed Elbaradei confirmed what many of us knew in praising China and Russia, which “currently have the most ambitious plans for short-term nuclear expansion.” Nine months ago, he might not have made that statement.

Today, Russia has emerged as one of the more vocal proponents for, and aggressive strategists in, the full spectrum of the nuclear fuel cycle. From nuclear waste disposal to uranium mining and enrichment, and in moving forward to construct nuclear reactors, Russia could possibly become an even more significant future player in the nuclear sector than China is envisioned. Russia’s civilian nuclear chief Sergei Kiriyenko told Russian television earlier this week, “Russia believes 25 percent of the world’s market in nuclear fuel-cycle services, including uranium enrichment, is an optimal share. Technically and technologically, we are well positioned for this.”

And whoever control this much market share should help decide the price. “The Russian people I’ve spoken with seem to think $100/pound is a given,” Sprott Asset Management Market Strategist Kevin Bambrough told us upon his return from the recent World Nuclear Association Conference in London. “If anyone is in the know, or can affect market psychology, it would be them.”

Last week, Tenex’s general director Vladimir Smirnov announced the formation of a new national uranium exploration and mining company, provisionally named "The Uranium Mining Company." He said it will be established by the end of this year, and hopes to boost production by tenfold over the next two years.

This week, Kiriyenko announced Russia’s “international” center to enrich uranium should be built by the end of this year, and ready to launch by early 2007. As announced earlier, the site will be in eastern Siberia at the Angarsk Electrolysis Chemical Plant. The city is located 3,000 miles east of Moscow. Russian President Putin suggested at the current IAEA conference that the international community set up enrichment centers under the supervision of the IAEA to prevent discrimination in access to nuclear energy. Putin’s veiled remarks were likely aimed at encouraging Iran’s civilian nuclear energy program, for which Russia is rebuilding the Bushehr nuclear power plant. Russia also proposes to joint venture another uranium enrichment center in Kazakhstan with that country.

In early September, Sergei Obozov, head of Rosenergoatom, Russia’s nuclear power monopoly, announced plans to start building nine nuclear reactors in 2007. But, it won’t stop there. According to an estimate calculated in September by the World Nuclear Association, Russia has 26 reactors proposed or planned by 2020. The country hopes to power 23 percent of its electricity with nuclear energy. This would give Russia nearly 60 reactors, almost as many as France and Japan presently have operational.

Russia is also revamping its nuclear industry, consolidating its civilian nuclear companies into one state-run company. It will be called Atomprom, and the country hopes to compete with other industry giants, such as AREVA, General Electric and Toshiba to build reactors.

This is where the business might get even more interesting. “Pairing of new reactors with uranium contracts could be huge,” Bambrough explained. “Companies wanting to build reactors are going around the world, wanting to joint ventures with mining companies to increase uranium supply for themselves. The reason they want to do that is to offer a full suite of services. They know they can not sell a reactor without supply.” Based upon how Russia’s nuclear ambitions are unfolding, this is their likely course of action. AREVA, which se

[stolwyk]

Speculators flock to uranium's glow
Metal's soaring price proves irresistible
JOHN PARTRIDGE

INVESTMENT REPORTER

A small but growing number of hedge funds and other bold investors are getting hungrier for one of the world's most potent metals: uranium.

Purchases of the nuclear fuel -- in solid or gaseous form -- by these decidedly non-traditional buyers are on pace to equal or exceed levels reached in 2005, according to figures provided to The Globe and Mail this week by Ux Consulting Co. LLC, a uranium industry research company in Roswell, Ga.

So far this year, the handful of funds that have caught the bug have purchased about eight million pounds of uranium on the spot market, according to Ux. This compares with about 8.75 million pounds for all of 2005, and perhaps an eighth of that in 2004, when investors started to buy the metal instead of just its producers' shares.

Adjusting for some sales, fund executives and industry analysts estimate that investors now have a total of about 16 million pounds sitting in licensed storage facilities.

The investors have been attracted into the field by the metal's soaring price, which is being driven higher by what is shaping up to be a revival of nuclear power and a large gap between demand and inadequate supply.

Uranium concentrate, or U308, is now fetching about $53 (U.S.) a pound, up from $36 in January and a 2001 low of just $7.

New production capacity for the metal is set to come on stream over the next few years, which is expected to bring prices down.

But some analysts have recently raised their forecasts of long-term uranium prices. Greg Barnes at TD Securities Inc., for instance, has hiked his forecast to $35 a pound from $30, and expects the metal to hit this level in 2015.

One reason is that Russia has said it does not plan to renew a 1993 pact with the United States under which about 20 million pounds of uranium a year has been extracted from decommissioned nuclear warheads and sold into the market when it expires in 2013.

Rising prices are good news for uranium miners, including Cameco Corp. of Saskatoon, the world's largest producer, and for the new mid-sized producer that will be created through the planned $511-million (Canadian) takeover of Denison Mines Inc. of Toronto by International Uranium Corp. of Vancouver, which was announced Monday.

Uranium prices did not join in the general commodity and equity plunge that took place in May and June.

In fact, the metal's price has not suffered a week-to-week drop since July, 2003, according to fund manager Robert Mitchell, who heads Adit Capital of Portland, Ore., and was one of the first investors to start buying physical uranium in 2004. "I'm not aware of any other commodity on the face of the Earth that has gone 168 consecutive weeks without a downtick," he said yesterday.

Mr. Mitchell said Adit now has three funds, with a total of about $200-million in assets under management among them, and he is contemplating a fourth. The first invests solely in uranium (mostly the metal but equities as well) while the other two invest in uranium and other energy-related metals that are not traded on any exchange.

As it is, with 16 million pounds of the metal currently salted away, investors control less than 10 per cent of the approximately 170 million pounds consumed each year by the nuclear power industry.

Among the new players in the game is Lido Park LLC, a secretive Delaware-registered firm, that last month paid more than $42-million to buy 300 tonnes of uranium hexafluoride gas (UF6) from the U.S. Department of Energy.

A DOE spokeswoman said she was not authorized to provide any information about Lido Park's identity. However, two sources familiar with the matter said the firm is a uranium investment vehicle set up by QVT Financial LP, a New York hedge fund. QVT did not respond to a request for comment.

Other existing players also are continuing to buy more.

Uranium Participation Corp. of Toronto, launched last year and managed by Denison Mines, plans to use the $1

[stolwyk]

New uranium lobby group emerges

Michael Vaughan
Tuesday, 26 September 2006

AUSTRALIA'S uranium industry has a new voice in its battle to sway public opinion and bring policy change under the banner of the newly created Australian Uranium Association (AUA), though other industry groups have expressed concern over the merits of another voice joining the fight.



The organisation will swallow Melbourne-based Uranium Information Centre and UIC chairman Harry Kenyon-Slaney will chair the new group. Michael Angwin, who was formerly director of economic policy in Victoria's Department of Premier and Cabinet, has been appointed AUA executive director.

"Our role is to help the uranium industry become part of the mainstream mining industry and to help the industry shape its own future," Angwin told MiningNews.net.

"We're still working to finalise the inaugural membership of the association but the members will be uranium exploration and mining and export companies."

Service and technology providers for the uranium industry will also be invited to become members.

In June, Greenpeace co-founder Dr Patrick Moore added his voice to the chorus of speakers in recent times who were urging Australia's uranium explorers and producers to present a united front in their advocacy of the industry.

Moore said it was crucial the industry implemented programs to access the mass media in order to shift public opinion and in turn, change state government policies banning uranium mining, such as those that exist in uranium-rich Western Australia and Queensland.

While the strategies of the AUA are yet to be finalised, Angwin said the industry would be trying to shape public opinion "based on research and facts" but he shied away from the term "publicity campaign" when describing the association's intentions.

"We as an association exist because there is an overwhelming opinion within our industry that we need to change the way we approach our own representation," he said.

"We need to have a united position on strategic issues, we need to advocate with credibility and vigour and we think that the current circumstances provide us with the best opportunity to do that and it's the best opportunity the industry has had for a very long time."

Association of Mining and Exploration Companies chief executive Justin Walawski told MiningNews.net that AMEC has concerns about the formation of the AUA and its lobbying could potentially detract from the advocacy work of AMEC and the Minerals Council of Australia.

"While we wish those involved every success, there are some concerns as to the need for yet another industry body, when the industry really needs a strong and consistent voice from a strong and consistent source," he said.

"From a potential member's perspective, there is a real question as to whether there is sufficient differentiation in the objectives of the new body and those that already exist.

"I've already had brief discussions with the MCA and, the only real point of difference between the AUA and the two existing national bodies (AMEC and the MCA) that I can discern at this stage is that the AUA's stated objectives include active promotion of nuclear energy.

"If the AUA's objectives do include promotion of nuclear power, then there are significant political challenges to overcome for the AUA and those that may consider becoming its members."

Angwin said while nuclear power was not economically viable in Australia, the AUA would not be endorsing the adoption of a nuclear industry. At the same time, the association would not shy away from downstream issues raised by its advocacy.

"The immediate issue is around the mining, exploration and export of uranium and we wouldn't want to get sidetracked by downstream activities and there are more immediate issues to be dealt with," he said.

"That's not to say that the issue of downstream activities is not going to be important in the future and we're certainly not going to not deal with the issues raised by downstream activities."


http://www.min

[stolwyk]

Spot price: US$54.00

http://www.uxc.com/review/uxc_Prices.aspx

[Kookaburra]

Our 19th century world was dominated by coal. Our 20th century was dominated by oil. It is our firm belief that the 21st century will not be dominated by oil. It will be dominated by electricity; and oil will become a marginal energy. This simple truth might help explain why, since 2001, uranium has not had a single down month, and since 2003, uranium has never traded down for even a single day, regardless of what was happening to oil prices.

[ http://www.investorsinsight.com/images/otbemail/092506/image002.gif ]»

[Mothman]

Hi as a possible new investor in Australian Uranium companies both pure play and/or diversified, can sharetraders recommend companies to invest in and please state your reasons?

I have heard of PDN & SMM and I know BHP has Olympic Dam.

The reason I want to invest is bullish forecasts for Uranium price

[stolwyk]

Uranium pricing: Utilities vs producers:

http://www.stockinterview.com/News/10022006/Platts1.html

[stolwyk]

SPOT: Up 1.75 to US$55.75:
http://www.uranium.info/

Quote:
"In the Market ...
Although total transaction volume in September was lower in the spot uranium market compared to August, the spot uranium price continued to climb due to a lack of supply. A US producer concluded another auction of 100 thousand pounds U3O8 at the end of September. Many sellers continue to seek market-related pricing terms for spot delivery and buyers continue to show a willingness to raise bid prices in order to secure supply at fixed prices.

The buyer mix remains diverse, with utilities, producers, intermediaries, and speculators seeking market purchases. Long-term uranium demand remains strong and continues to exert upward pressure on the spot uranium price. The spot uranium market is expected to remain active through October.more..."

[stolwyk]

Cameco Says Uranium-Mine Flood Worsens; Shares Plunge

http://www.bloomberg.com/apps/news?pid=20601082&sid=a85BftJZS484

[stolwyk]

Price: $60.25 (+$4)


- WORLD EXCLUSIVE -
Interview with TradeTech’s Gene Clark
“Not Much Breathing Room Left in the System”

http://www.stockinterview.com/News/10302006/uranium-price.html

[stolwyk]

This won't be the last increase in price. My prediction was for $68 in May 2007 and we are already nearly there!

Reports from Cameco are not good. Apparently, the underground system is too brittle and hence the collapse.

There is radioactivity further down as well and I don't know the outcome with the mine flooded. We could get radioactive water.

It won't be a quick repair that is assuming it can be fixed with that water pressure coming from outside the mine.

Apparently, their contracts are full of holes leaving them entirely free to supply or not to supply by claiming it to be an act of God.

Whatever, there is every incentive for the operating and the yet to be built nuclear powerstations to *** keep a stock of Uranium *** for future use so as to be certain it is there when wanted.

The risk factor of not having enough U has risen. This must affect future pricing in the weeks, months and possibly, years ahead. Stocks of U are being taken out of circulation by these operating nuclear facilities and this is added to stocks taken out for investment by Funds and more stocks needed for the already sharp upgrade of wanted new nuclear power plants. Hoarding galore!

Gerry

[stolwyk]

Spot Uranium Price Climb Stalls - By: James Finch

Interview with Gene Clark.


http://www.uraniumseek.com/news/JamesFinch/1162845325.php

A must read!

[stolwyk]

Uranium: $61.00 (+0.75)

[stolwyk]

DEUTSCHE BANK REPORT: 21 pages:

http://www.alberta-star.com/uraniumbullishlongterm-1Sep06.pdf?PHPSESSID=f917aea2c12638aa0d4ecb1be32c0 b04

[stolwyk]

Uranium may heat up on Indian demand

Gayatri Ramanathan / Mumbai November 25, 2006



The opening up of the Indian nuclear sector may push up the prices of uranium in the global spot markets.

India will soon be able to fulfil its nuclear fuel requirement in the spot markets with the the US Senate recently approving the Indo-US Civilian Nuclear Cooperation Treaty.

India, with 15 nuclear reactors, currently mines around 230 mt of uranium. Nuclear power plants in the country run at a plant load factor of 65 per cent against an average of 85 per cent worldwide.

With the free market in nuclear fuels becoming accessible, the country is poised to add a demand for 1,300 mt of uranium to a market already facing a tight supply situation, according to a study by the World Nuclear Association (WNA).

“The market expectations are that additional consumption by the Indians, combined with the planned capacity addition by China and South Korea, could push the spot prices of uranium yellow cake up to $100 a pound from the present $62.50 a pound over the next couple of years. But, we expect the prices to settle down by 2015, when the capacity additions in uranium mining are also in place,” said Craig Lindsay, president of Magnum Uranium, a Canadian uranium mining company, which is eyeing the Indian market for exports.

He added that initially the Indian demand would be much smaller than the figure projected by the WNA.

Prices of uranium in the spot markets have been rising over the past two years with the resurgence of the nuclear power industry in the US and Europe on the back of rising crude oil prices. From less than $10 a pound, prices are currently ruling at $62.50 a pound.

Sources in the Indian nuclear establishment, however, said the price rise will not affect the fuel cost for Indian power companies. “It will only go up by around 5 to 6 per cent,” said a top official of the Nuclear Power Corporation.

Lindsay pointed that by 2015, the number of reactors worldwide is expected to go up to 504 from the present 440. While the global requirement of uranium is around 180 mt, only 105 mt are mined, with the rest coming from the dismantled nuclear warheads of the erstwhile USSR and spent fuel of the existing reactors.

Of 20,000 warheads of the erstwhile USSR that were to be dismantled, 10,000 have already been dismantled and the fuel is sent to the US under a treaty between the US and Russia. Nearly 40 per cent of the US consumption of nuclear fuel comes from this source.

Worldwide investments in uranium exploration and mining are expected to be in the range of $300-500 million. Of this, Canada is investing around $150 million in mining the ore from its deposits at Athabasca basin.

Canada is estimated to have 9 per cent of the world reserves of uranium, while Australia has the largest reserves at 24 per cent, followed by Kazakhstan at 17 per cent.

http://www.business-standard.com/common/storypage.php?autono=265917&leftnm=0&subLeft=0&chkFlg=

[stolwyk]

U=$64.00

[CAM]

in todays herald.....

Aussie MPs call for lifting restrictions on uranium

Tuesday December 5, 2006
By Rob Taylor


Australia, which holds 40 per cent of the world's recoverable uranium, should drop restrictions on uranium mining, say federal lawmakers.

They insisted yesterday that fears about the safety of the nuclear fuel were misplaced.

MPs from both major political parties, including Labor politicians who had previously opposed such a move, said Australia should drop barriers to "greenhouse friendly" uranium fuel.

"All members are agreed that present restrictions on uranium exploration and mining are illogical, inconsistent and anti-competitive," industry and resources committee chairman Geoff Prosser said in a statement.

The committee called for the lifting of Australia's three-mine limit, warning that billions of dollars worth of exports to lucrative new markets such as India and China were at risk.

Australia signed a uranium export deal with China in April after receiving non-proliferation guarantees, but has so far refused to supply India.

"As a matter of justice Australia should not deny countries that wish to use nuclear power in a responsible manner," Prosser said.

Despite its huge reserves, Australia has only 23 per cent of global uranium production, partly because of mining bans associated with fears over nuclear waste safety and proliferation.

Conservative Prime Minister John Howard in June opened a debate on nuclear energy and uranium mining, setting up an inquiry to find out if a domestic nuclear industry was viable.

The inquiry also looked into whether nuclear power would be a clean alternative to the coal-fired power generation on which Australia relies, concluding that a domestic nuclear power industry could be a reality in Australia within 15 years.

The new report - the third in the past month - said Australian uranium reserves could displace 40 billion tonnes of greenhouse-causing carbon dioxide if used to replace coal-fired power generation.

[stolwyk]

U price: up $1 to $65.00:

http://www.uranium.info/

When U was $42 in may 2006, I predicted $68 in May 2007 (H/C)

It seems we may get that at end of Dec?


Gerry

[stolwyk]

December 10, 2006
By Julie Ickes, Editor

Uranium Price Indicator Climbs to $65/pound
Sellers Expecting Price Bump Next Week

Aggressive bidding for spot uranium may soon be in the cards. Uranium buyers and sellers anticipate a potentially stronger upward move in the spot uranium price after a U.S. producer offers material for sale this coming week.

Subsequently, the official TradeTech U3O8 Weekly Spot Price Indicator rose another dollar to $65/pound for the week ending December 8, 2006. According to the consulting firm’s weekly Nuclear Market Review (NMR), one utility’s recent uranium purchase fell more than 200,000 pounds shy of material the utility hoped to buy.

Sellers have continued the ‘wait and see’ attitude, established after the late October announcement of flooding at Cameco’s Cigar Lake uranium project. According to NMR editor Treva Klingbiel, “A US producer plans to enter the market next week to auction as much as 200 thousand pounds U3O8 for delivery later this month.” She pointed out “bidding is expected to be aggressive.”

NMR also reported, “Sellers have withdrawn from the market or are making market-related offers in anticipation of a price bump following the auction.” Ten buyers remain active in the market hoping to purchase more than five million pounds of U3O8 equivalent. Nineteen utilities are actively seeking nearly 43 million pounds for delivery beginning in 2007.

Similar tight conditions were reported in the uranium conversion and enrichment markets. Buyers appear unable to obtain the entire requests, settling instead for partial delivery. Up to nine U.S. and non-U.S. utilities are said to be evaluating off-market purchases to meet long-term enrichment commitments.

TradeTech posts the official weekly spot price indicator on the company’s website: http://www.uranium.info


Editor’s Note:
Please visit StockInterview’s disclaimer page for full disclosure, forward looking statements, important links and cautions.
Please email your feedback on this article: editor@stockinterview.com


http://www.stockinterview.com/News/12102006/uranium-sellers-price-bump.html

[Skol]

According to an article I have here the US Dept of Energy is proposing to sell 2500 tonnes of uranium per annum. The DoE controls 61 million tonnes of uranium, most from dismantled weapons.

[stolwyk]

Some reference, please.

Gerry

[Skol]

The Weekend Australian, December 9-10, page 9 in Resources Section, also article on Thorium, same page.
No problem to put whole article on this thread if you wish, let me know.

[stolwyk]

If you like.

Thanks,

Gerry

[Skol]

The Weekend Australian Dec 9/10

URANIUM PRICE THREAT
Fears are growing that uranium prices could be hit by the release of part of the US stockpiles. Dow Jones said uranium producers were concerned by a proposal by the DoE to sell 2500 tonnes a year into the market. The DoE controls 61 million tonnes of uranium, most being sourced from the dismantling of nuclear weapons after the end of the Cold War.
Uranium Producers of America wants the Government to sell the uranium through long-term contracts to avoid driving down spot prices.

Copiled by Robin Bromby
brombyr@the australian.com.au

[stolwyk]

I think that "61 mill tonnes" is incorrect. It could be 61 mill lbs but I doubt it.

The US gets much of the weapons derived uranium from Russia and Putin wants higher prices from the US. These deliveries date back to the nineties prior to Putin arriving on the scene.

Graph:
http://www.uxc.com/fuelcycle/uranium/uxc_g_prod-vs-reqt.html

Gerry

[Skol]

Must admit, had my doubts about 61m tonnes.
Cheers

[nell]

It has just knocked a bit of steam out of the Uranium stocks. I would assume a nice bounce back if article is incorrect.

[Skol]

Clarification from the author of the above article in the 'Australian'.
Meant to be metric tonne units (1/100th of a tonne).

[Moonshine]

http://www.stockinterview.com/News/12162006/uranium-price-feeding-frenzy.html

Largest Weekly Spot Uranium Price Jump in History

‘Feeding Frenzy’ Sends Weekly Spot Uranium Price to Record $72/Pound

[Snopig]

U308 $72.00

[steve fleming]

RCR Uranium Sector Review December 2006 Report Now Available

Available from http://www.rcresearch.com.au/index

[steve fleming]

quote:Originally posted by steve fleming

RCR Uranium Sector Review December 2006 Report Now Available

Available from http://www.rcresearch.com.au/index


Summary of above from miningnews.net
---------------------------------------------------
Rampant uranium price to continue into 2008

Wednesday, 20 December 2006
Paul Garvey

THE current boom in uranium prices is nowhere near slowing, says Resource Capital Research, with the group forecasting a rise in the price of uranium to $US90 per pound by mid-2007 and $115/lb by late 2008.



The price of uranium this week cracked through the $70/lb mark for the first time, with Ux Consulting putting the price of uranium oxide at $72.50.

However, RCR says that despite a 64% rise in the price of uranium over the past six months, uranium can add another 37% by the middle of next year.

RCR's bullish outlook for uranium is driven by the impact of delays at Cameco's developing Cigar Lake underground project in Canada, which earlier this year was affected by severe flooding.

In addition, the number of planned and proposed nuclear power plants has also continued to grow, with RCR saying an additional 70 reactors had been added since May to the 153 facilities already in the pipeline. There are currently 442 reactors in operation worldwide.

In RCR's latest Uranium Sector Review, the researchers said its selection of 65 Australian uranium junior stocks had outperformed its selection of 92 Canadian uranium explorers, with the market valuation of the Australian basket improving by 186% compared to Canada's 143%.

RCR's research also identified the big spenders among Australia's uranium explorers, with Equinox Minerals, Paladin Resources and Energy Resources Australia filling the first three positions, respectively.

Among the junior stocks, PepinNini Minerals has the biggest uranium exploration budget for 2007, ahead of Wildhorse Energy, Southern Gold and Energy Metals.

[steve fleming]

Story in today's SMH:

http://www.smh.com.au/news/business/uranium-miners-prepare-for-a-glowing-future/2006/12/27/1166895360418.html

Uranium miners prepare for a glowing futureBarry FitzGerald
December 28, 2006

URANIUM stocks are finishing the year on a high in response to the mushrooming price of the radioactive material.

Spot prices recently hit $US72 a pound, double the price at the start of this year and a 605 per cent increase on the December 2002 price of $US10.20 a pound.

The price surge reflects the potential for near-term supply shortages at a time when nuclear power is enjoying unprecedented acceptance because of its role in fighting global warming.

Always ready to respond to a commodity price surge, the Australian mining and exploration industry has reacted with gusto. While there are only two listed uranium-only producers (ERA and Paladin), the number of companies that now claim to be involved in exploration is approaching 100.

Investors have joined the nuclear party by driving equity values sharply higher. At its closing price yesterday of $19.94, ERA is sporting a 100 per cent gain for the year. Paladin's close of $8.25 gives it a 325 per cent gain for the year.

Dozens of explorers and would-be developers have done better still.

They include Alliance Resources (up 1046 per cent in the year to date), Nova Energy (up 333 per cent), PepinNini (379 per cent), Summit Resources (373 per cent) and Compass (311 per cent).

While other metal prices enter 2007 with a generally weaker price outlook, uranium is forecast to remain strong.

Sydney equity research group Resource Capital Research (RCR) has forecast that the uranium price could reach $US90 a pound by mid-2007, a rise of 25 per cent on the current spot price, and $US115 a pound by 2008, an increase of 59 per cent on the spot price.

In his December quarter review of the uranium sector, RCR analyst John Wilson said there had been a dramatic increase between May and November in the number of planned and proposed nuclear power plants, with the total increasing by 70 reactors to 223.

The main nominated increases in planned and proposed reactors were in China (up from 24 to 63), Russia (nine to 26) and the United States (13 to 23).

That has increased pressure on new mine supplies to respond to demand.

For the past 20 years, the world's mines have met about two-thirds of global demand, with the remainder coming from inventories and the conversion of weapons-grade material under various nuclear disarmament treaties.

Some analysts predict that with the running down of weapons-grade material, mine supply plus inventory might not be enough to meet global demand in the near term.

Also driving the uranium price higher was the flooding in October of the Cigar Lake uranium project in Canada.

First production from the high-grade operation is not now expected until 2010, effectively delaying 37 per cent of the new uranium supply previously forecast to be available before then.

The World Nuclear Association has forecast that uranium demand could rise from about 65,000 tonnes in 2006 to 78,000 tonnes in 2015 and to 111,000 tonnes in 2030. Australia is poised to cash in on that growth, with BHP Billiton's Olympic Dam project in South Australia planning to at least triple annual production to 15,000 tonnes.

And subject to state Labor governments in Western Australia and Queensland lifting bans on uranium mining, the number of Australian mines could easily double before 2010, albeit from a current low base of four operations - Olympic Dam, Ranger, Beverley and Honeymoon.

The reporter owns BHP shares.

[steve fleming]

Very significant day today for the Australian Uranium Industry!!:

http://www.smh.com.au/news/national/report-backs-uranium-industry/2006/12/28/1166895423536.html

Report backs uranium industry
Mark Davis Political Correspondent
December 29, 2006

Australia should move quickly to export more uranium and could generate significant environmental benefits by developing a greenhouse-friendly nuclear power industry, a report for the Federal Government says.

The Prime Minister is expected to make public today the final report from a taskforce that has been examining whether Australia should move further into the nuclear fuel cycle.

The taskforce, headed by the former Telstra chief executive Ziggy Switkowski, issued a draft report in November calling for a major expansion of uranium mining in Australia while offering more qualified backing for domestic uranium processing and nuclear power.

It is understood the final version of the report, which was handed to John Howard last week, confirms most of the conclusions from the earlier draft while including considerably more material to support its findings.

Mr Howard will use the report to continue his campaign to persuade state Labor governments to remove restrictions on approving new uranium mines under the ALP's no-new-mines policy.

Mr Howard says there should be a community debate over expanding the uranium industry and has suggested nuclear power generation would have environmental benefits by reducing greenhouse gas emissions.

The Labor leader, Kevin Rudd, has pledged to push for a change in the ALP policy against expanding uranium mining but will face opposition from the party's Left. However, Labor's factions are united in opposing nuclear power, and the Opposition has said it will campaign against the Government on the issue at the next federal election.

Today's report will give Mr Howard ammunition for this debate. It is understood to estimate that Australia could double its earnings from exporting uranium oxide to more than $1 billion a year by the end of the decade.
Production in Australia is set to rise from the record 12,360 tonnes of yellowcake last year to more than 20,000 tonnes by 2014-15.

The report says growth in global demand for uranium to fuel nuclear power industries provides Australia with a timely opportunity to expand the mining if barriers such as skills shortages and state government restrictions were removed.

It points to a strong increase in exploration activity in Western Australia, Queensland and the Northern Territory and concludes that there are many areas with the potential to yield uranium in coming years.

On the issue of whether Australia should allow local uranium conversion, enrichment and fuel fabrication, the report says this could more than quadruple the value of locally mined uranium.

But the report expresses doubts about the feasibility of a full-blown uranium processing industry in Australia, saying access to enrichment technology would be a big barrier.

It is more positive about the feasibility of a local nuclear power industry, saying that if regulatory barriers were surmounted nuclear reactors could be generating electricity in Australia within 15 years.

[stolwyk]

Howard Urges Australian States to End Uranium Bans (Update5)

By Gemma Daley

Dec. 29 (Bloomberg) -- Prime Minister John Howard urged Australia's regional governments to end bans on new uranium mines that prevent the nation from tapping soaring demand for the reactor fuel.

The nuclear power boom provided a ``timely opportunity,'' Howard said today, releasing a government report that supported an end to the bans, enrichment of the metal for use in reactors and construction of as many as 25 atomic plants in the country.

Australia, with 40 percent of the world's uranium's reserves, contributes just 23 percent of global output because miners such as BHP Billiton have been prevented from opening new pits. The bans were introduced in 1983 by the Labor Party, which lost office in 1996 to Howard's coalition government. Labor controls all eight state and territory governments and the party's policy will be reconsidered at a conference in April.

``I call upon state governments to end their bans on uranium mining and exploration, which stand in the way of investment, jobs and exports,'' Howard said in a statement e-mailed to Bloomberg News.

Prices for uranium, which is used to power plants that supply 16 percent of the world's electricity, have surged almost fourfold in the past three years. Higher coal, gas and oil prices and pressure to cut greenhouse gas emissions, blamed for global warming, are driving increased use of nuclear power.

Labor Disagreement

Kevin Rudd, leader of the opposition Labor Party at federal level, favors scrapping the prohibition on uranium expansion, while regional leaders such as Western Australia Premier Alan Carpenter want to keep it. South Australia's Premier Mike Rann supports the expansion of uranium mining, while Queensland Premier Peter Beattie has said he will abide by the decision due to be taken at the party's conference in April, ABN Amro Holding NV said in a Dec. 19 report.

The party's position on uranium will be decided before the state and territory leaders meet Howard, 67, during a twice- yearly Council of Australian Governments meeting in Canberra.

Australia may start using nuclear power within 15 years and build as many as 25 reactors by 2020 to meet one-third of the nation's energy, according to the uranium report ordered by the government and produced by a team led by former Telstra Corp. chief executive Ziggy Switkowski.

Australia's federal government controls the sale of uranium while state and territory governments administer mining permits. Mining of the metal is limited to three sites: BHP Billiton's Olympic Dam mine in South Australia; Energy Resources of Australia Ltd.'s Ranger mine in the Northern Territory; and Heathgate Resources' Beverley mine in South Australia. Heathgate is owned by San Diego-based General Atomics.

Miners to Benefit

A change in policy on uranium would benefit mining companies such as SXR Uranium One Inc. with advanced projects in South Australia and Queensland states, ABN Amro's report said.

``We believe a change in policy would lead to a re-rating of the Australian uranium explorers and potentially to further consolidation of the sector,'' ABN said in the report. ``In our view, those explorers with advanced projects will be in the best position to benefit from a potential change in policy.''

SXR Uranium One was in September awarded a license by the South Australian government's environmental agency to commercially mine the Honeymoon deposit. The company, based in Toronto, said in August it decided to go ahead with the project.

PepinNini Minerals Ltd., based in Sydney, has a potential project in South Australia, while Canada's Mega Uranium Ltd. and Perth-based Summit Resources Ltd. are among companies with potential projects in Queensland, ABN said.

Summit Gains

Easing the uranium mining ban ``would be great for a company like Summit,'' said Peter Schiff, chief executive officer of Euro Pacific Capital, which manages about $400 million including Summit shares.

Summit, which said on Oct

[stolwyk]

FAR EAST CAPITAL:

U Companies

http://www.wildhorse.com.au/documents/219.pdf

[Skol]

I can't help thinking that some of the U308 prices are getting ahead of themselves and that we'll soon be seeing the 'Blood on the Floor' thread. Most of these companies are years away from seeing any yellow stuff and one of the biggest producers, ERA, is still locked in at about $10/lb until 2008.

[Dratoz]

Good article, Stolwyk, although some figures in the article are clearly incorrect. Mainly those related to U resources. For instance, I do not believe DYL has that much U, and MTN has much more than what has been reported. Also a couple other inconsistencies, but the overall message is quite interesting and clear.
Cheers,
Dratoz

[shasta]

Was a good article to read thanks Stolwyk.

Dratoz, why dont you think DYL has that much Uranium? (Resource grades of 260 & 360 ppm)

The article states it has sub economic grades & will need to deliver better quality resource at some stage...

How much do you think they have?

I like there move into Namibia & see that as the reason they are considered an aggressive "U" company.

Alot of promise, yes, & yet to deliver but im happy to hold while PDN still do.

I see SRZ got a good mention in there too, i posted that i couldnt find any threads on ST on them & if anyone else held them etc.

Have picked both for the ASX comp & hold DYL.

[Sharp737]

Yes, that is a good article

http://www.wildhorse.com.au/documents/219.pdf

And I hope that Paladin don't try and take Summit over!!

Tell you why....if things continue as they are going with

1. Uranium prices going ballistic with the ever increasing world demand

2. Summits uranium resources just exploding

3. Summits other resources like their Iron project etc

We could be looking at....what? Say in a few years time....$100 per share?? Now that's being really wildly optimistic but...

Sharp

[tricha]

Thanks for this Gerry, I might owe you a beer or two, well worth it's weight in gold, saved me a mile of leg work, one of it's best picks was Glengarry Resources, yes, a U company for only 7.8 cents.

Cheers [B)][}:)]

Posted by Gerry! [:p]

FAR EAST CAPITAL:

U Companies

http://www.wildhorse.com.au/documents/219.pdf

[Dratoz]

Hello Shasta,

I am more of a MTN follower than DYL, although DYL is also on my radar. I will explain why I thought DYL data was misreported.
The first Potential Producers table provides data for grades &gt;0.05% (the note below the table), and has DYL @ 50.7 mill lbs U3O8. I did not think they had that much in the &gt;0.05% category. The table on the next page has the same total of 50.7 mill lbs U3O8 with grades of 0.036% and 0.026%. I believe the first table is incorrect.

On the subject of MTN, the table of Potential Producers has MTN @ 5mln lbs U3O8, whereas MTN has much more than that. Maybe there is a zero missing somewhere? The data in the second table appears more correct. The article also expresses several other incorrect views and doubts about MTN U holdings which are unjustifiable. MTN has a JORC compliant resource calculated by two independent and highly reputable sources. I will close at that, as this is not a thread to “promote” any particular stock. I do hold MTN.

Regards and good luck with your investments,
Dratoz

[Zephyrus]

quote:Originally posted by tricha

Thanks for this Gerry, I might owe you a beer or two, well worth it's weight in gold, saved me a mile of leg work, one of it's best picks was Glengarry Resources, yes, a U company for only 7.8 cents.

Cheers [B)][}:)]

Posted by Gerry! [:p]

FAR EAST CAPITAL:

U Companies

http://www.wildhorse.com.au/documents/219.pdf




Yes, a very useful report. Thanks Gerry.

Another one by Mr Grigor from the Monaro Mining website

http://www.monaromining.com/articles/Uranium%20Mining%20Outlook%20in%20AustraliaAug06.p df

Anyone following Monaro (MRO)? Their main focus is in Kyrgyzstan. Maybe some similarities to Uran, which has had a great run recently. Any views on Mr Grigor & the rest of the team?

[shasta]

Thanks Dratoz

Will have a look into MTN & assess them directly compared to DYL, & try & work out what they do have & keep them on watch.

Hasn't DYL already got a JORC compliant resource as well, not sure if you telling me MTN has as well, or DYL hasn't.

DYL is my first "U" stock & i've been looking into others.

[Dratoz]

Shasta,
The article expressed doubts in MTN U resource (in the section introducing the company), and I did not like it, as MTN got their JORC report, first done by the Uni of Mining and Metallurgy in Cracow, also confirmed by Helman and Schofield. This is where I thought the article did not pay justice to MTN. Placing unjustifiable doubts is different from an objective market assessment.
Cheers,
Dratoz

[Mick100]

Good link Gerry - thanks
,

[shasta]

This from the NZ Herald today...

Australia, China sign uranium sale agreement
Email this storyPrint this story 4:15PM Friday January 05, 2007

CANBERRA - Australian exporters will be free to begin selling uranium to China within months after both countries signed an agreement covering use of the nuclear fuel, Foreign Minister Alexander Downer said today.

Australia and China ratified a Nuclear Transfer Agreement and separate Nuclear Cooperation Agreement on Thursday in Beijing, with the second agreement opening the door to civilian nuclear cooperation between the two countries.

"The legal framework for Australian uranium producers to commence exports to China is expected to be in place early in 2007," Downer said in a statement. "The timing and quantities of exports will be a matter for commercial negotiation."

Australia, which holds 40 per cent of the world's recoverable uranium, reached agreement last April to begin exporting uranium to China in a deal that should double annual revenue from exports of the nuclear fuel to A$1.0 billion ($1.13 billion).

China is a signatory to the Nuclear Non-Proliferation Treaty, unlike India which has tried, but so far failed, to win approval to buy Australian uranium.


China, with its huge population and buoyant economy, has a huge appetite for energy. It is banking on nuclear power to meet its needs and cut greenhouse emissions from fossil fuels.

Despite its huge reserves, Australia accounts for only 23 per cent of global uranium production, in part because of mining bans associated with fears over of the safety of nuclear waste and proliferation.

The country currently exports uranium to 36 countries under strict conditions ensuring its peaceful use.

- REUTERS

[tricha]

Uranium One Granted Ten Year Export Permit for Honeymoon Uranium Project
Trading Symbol: SXR - Toronto Stock Exchange, JSE Limited (Johannesburg
Stock Exchange)

TORONTO, ON and JOHANNESBURG, South Africa, Jan. 4 /CNW/ - sxr Uranium
One Inc. ("Uranium One") is pleased to announce that the Ministry of Industry,
Tourism and Resources of Australia has approved Uranium One's request for a
new Permission to Export Natural Uranium ("Export Permit") from the Honeymoon
Uranium Project. The Export Permit has been granted for a period of ten (10) years, taking
effect from January 1, 2007 to December 31, 2016, inclusive.

Neal Froneman, President and CEO of Uranium One commented:

"We are pleased that Uranium One's commitment to developing the Honeymoon
Uranium Project is being supported by both the Australian federal government
and the government of South Australia and we look forward to bringing the
project into production in 2008. It is clear that the Australian federal
government recognizes uranium as one of Australia's most promising export
products. Uranium One has the most recent permitting experience in Australia
and as a result is well positioned to grow its uranium business in that
country."

About sxr Uranium One

sxr Uranium One Inc. is a Canadian uranium and gold resource company with
a primary listing on the Toronto Stock Exchange and a secondary listing on the
JSE Limited (the Johannesburg stock exchange). The Corporation owns the
Dominion Uranium Project in South Africa and the Honeymoon Uranium Project in
South Australia, and is actively pursuing growth opportunities in the uranium
sector in the western United States. The Corporation holds an approximate
71.6% interest in Aflease Gold Limited, which owns the Modder East Gold
Project in South Africa. Through a joint venture with Pitchstone Exploration
Ltd., the Corporation is also engaged in uranium exploration activities in the
Athabasca Basin of Saskatchewan.

Cautionary Statement

No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein.
This News Release includes certain "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995 and
"forward-looking information" within the meaning of applicable Canadian
legislation. All statements other than statements of historical fact included
in this release including, without limitation, statements regarding future
plans and objectives of Uranium One and the timing of commencement of
construction activities, are forward-looking statements (or forward-looking
information) that involve various risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and actual results
and future events could differ materially from those anticipated in such
statements. Important factors could cause actual results to differ materially
from Uranium One's expectations. Such factors include, among others, the
actual results of exploration activities, actual results of reclamation
activities, the estimation or realization of mineral reserves and resources,
the timing and amount of estimated future production, costs of production,
capital expenditures, costs and timing of the development of new deposits,
availability of capital required to place Uranium One's properties into
production, conclusions of economic evaluations, changes in project parameters
as plans continue to be refined, future prices of commodities, possible
variations in ore grade or recovery rates, failure of plant, equipment or
processes to operate as anticipated, accidents, labour disputes and other
risks of the mining industry, delays in obtaining governmental approvals,
permits or financing or in the completion of development or construction
activities, Uranium One's hedging practices, curr

[Mick100]

New uranium junior lists at big premium
By: Lawrence Williams
Posted: '03-JAN-07 08:00' GMT © Mineweb 1997-2006



LONDON (Mineweb.com) --There is the definite making of a uranium boom in the junior mining sector, which could make money for the investor, but could also leave you with burnt fingers as with many other commodity booms in the past. Junior exploration companies can float and generate big premiums on little more than a wing and a prayer plus the magic word of the commodity currently in favour.

At the moment the hottest mineral commodity seems to be uranium. A world shortage has been pushing prices up and up, and there is considerable talk of huge expansions in nuclear generation capacity worldwide. Australian and Canadian juniors seem to be at the forefront of this activity – these, along with AIM, being the most volatile of the junior mining markets. But the investor needs to treat all such plays purely as a gamble.

The latest junior uranium explorer to hit the market is Perth-based uranium resource company Prime Minerals (ASX: PIM), which today has listed on the ASX, closing at a 190 per cent premium to its issue price, after its Initial Public Offer (IPO) was oversubscribed and raised A$2.2m.

Prime shares traded as high as 59 cents, a 195% premium of to the issue price of 20 cents, before closing at 58 cents, with more than 1.3 million shares traded.

The company issued 11 million shares as part of its IPO, valuing the company at $6.5 million on listing. In April 2007, the company will also issue all shareholders one loyalty option for one cent for every two shares held. These 20 cent options at today's trading would have a nominal value of 48 cents and will be immediately listed after issue and expire in October 2009.

Prime will complete a low-level airborne radiometric survey and an extensive drilling program over its Lake Mason Uranium Tenement in Western Australia, with a view to substantially increasing Prime’s uranium deposit. Lake Mason is located 40kms south of BHP Billiton’s 52,000t Yeelirrie deposit, which Prime reckons is the world’s largest calcrete uranium deposit.

Prime chairman Bruce Hawley said the company was pleased with its outstanding debut. “Funds raised during the IPO will be used to complete the radiometric survey of the Lake Mason uranium deposit and our drilling campaign,” Mr Hawley said.

“We are glad the listing process is now complete and we will now turn our attention to exploration at our Lake Mason project. This is an exciting time for Prime and we anticipate an aggressive drilling campaign starting shortly after next month's radiometric survey is completed.

"We also plan to carry out target generation over our iron ore, vanadium and gold tenements, followed by drilling of the priority targets.

"Prime will also be targeting the acquisition of complimentary projects, with the view of increasing shareholders wealth" Hawley said.

Prime says its Lake Mason Uranium project currently contains a pre-JORC target mineralisation of 374,000lbs of uranium oxide (U3O8) defined by aircore drilling. It is located 40kms to the southwest of BHP’s Yeelirrie Deposit which is the world’s largest calcrete uranium deposit containing 52,500 tonnes of U3O8. The opportunity exists to identify substantial uranium mineralisation within the Lake Mason drainage system.

However, the resource figures so far are tentative and need to be far better defined before any real analysis of the value of the property can be assessed.

To an extent the uranium boom in Australia has also been fuelled by news that the country’s Prime Minister, John Howard, is in favour of changing the country’s current policy which bans new uranium mining operations. This is largely imposed by the semi-autonomous state governments and it is notable that Western Australia is one of the states very specifically opposed to the development of uranium mines. There is a sense, though, that the states may bow to the inevitable and at least relax their opposition – but there are many possible

[shasta]

Promising for those "U" explorers that can start producing either late 2007/early 2008.

Bar raised on uranium deals
David McKay
Posted: Mon, 08 Jan 2007
[miningmx.com] -- CONCLUDING acquisitions in the uranium industry would become more difficult owing to improved prices for the metal, said sxr Uranium One (Uranium One).


“Assets have become very expensive and it’s difficult to find value,” Jean Nortier, Uranium One chief financial officer said in an interview. “It is a sign of the times that sellers of uranium assets are starting to reassess.”

Nortier’s comments follow an announcement that Rio Tinto Energy America, a business unit of London-listed Rio Tinto, had withdrawn from the sale of its Sweetwater uranium assets for which Uranium One was the preferred bidder.

Uranium One said Rio Tinto’s decision was “prompted by significant and unexpected changes in the world-wide market for uranium since July 7, 2006”.

Resource Capital Research, an Australian research house, said in December that the uranium price would continue to climb in 2007.

“The uranium price is forecast to reach $90/lb by mid-2007, an increase of 37% over the current spot price and $115/lb by late 2008, an increase of 75% over the current spot price,” it said.

Driving uranium demand is the growth in nuclear power station construction. Some 251 reactors are planned or are under construction compared to 442 in operation.

“We are naturally very disappointed with Rio Tinto’s decision to withdraw the Sweetwater assets from sale, particularly at this stage in our negotiations,” said Neal Froneman, Uranium One CEO.

Rio Tinto would invite Uranium One to re-submit a bid if it decided to sell the Sweetwater assets in the next two years. In the meantime, it would buy copies of the third party technical reports on Sweetwater that Uranium One compiled as part of its bid.

However, separate negotiations between Uranium One and US Energy Group to buy the Shootaring Canyon assets were “progressing well”. Uranium One, which has a primary listing on the Toronto Stock Exchange, said it had extended by three months an exclusivity period to buy the Shootaring Canyon mill.

“We look forward to finalising definitive acquisition documentation for these assets during the first quarter of 2007,” said Froneman.

Uranium One said in July that it would pay Rio Tinto $110m to buy the Sweetwater Uranium Mill and Green Mountain properties. A day later, it unveiled plans to spend $50m buying the Shootaring Canyon Mill, located in southern Utah. The two acquisitions were intended to propel Uranium One into the top five largest uranium producers over the next five years.

Nortier said Uranium One’s ability to compete for additional assets, particularly in the US, would be given extra support when the company became a producer of uranium. “There’s an additional rating that comes with being a producer. Different premiums are applied,” Nortier said.
Free news alerts: click here to subscribeAccording to a feasibility study, Uranium One will produce 500,000 lbs of uranium oxide this year from its South African-based Dominion Reefs mill. The asset will start operating from the first quarter of this year.

Uranium One did not intend, however, seeking cheaper acquisitions by buying uranium exploration prospects. “We intend to build our visibility as a producer of uranium,” said Nortier.

Uranium One closed 1.4% lower on the JSE last trading at R84.50/share.

[stolwyk]

Three reasons to love uranium ... (by Sean Brodrick)
1/10/2007 8:00:00 AM

Uranium had a great year in 2006 — prices doubled. But I think that its performance in 2007 could blow the doors off of last year’s results!

That’s why I’m starting to line up my favorite uranium stocks for the coming year. More on that in a moment. First, I’d like to tell you why I’m so bullish on this white-hot metal.

Uranium: The Most
Recession-Proof
Metal I’ve Ever Seen

Hey, I’m a pretty bullish guy by nature. But there are certainly troubling signs when it comes to the U.S. As guys like Mike Larson have been telling you, the housing bubble is imploding, Americans are in debt up to their eyeballs, and more.

Well, guess what? Recession bounces off uranium like bullets off of Superman.

Why? Because uranium is used for power generation, which is mostly immune to economic ups and downs. Even if people can’t afford cable TV, they’ll pay to keep their lights on.


The Uranium Market Is So Hot Right Now…

What’s more, utilities plan nuclear power plants many years in advance. Once they’re up and running, you can’t turn them on and off like coal- or gas-fired plants. An atomic power plant demands to be fed!

Even during a commodity bull market like we’ve enjoyed the past few years, other metals like copper have had their ups and downs. But look at uranium — it hasn’t even flinched! As you can see from my chart (courtesy of UX Consulting Company), uranium hasn’t just been climbing over the last two years, it’s been accelerating!

Uranium’s Supply/Demand Squeeze
Keeps Getting Tighter

About 16% of the world's electricity came from 440 nuclear reactors in 2005, according to the World Nuclear Association. That required about 77,000 metric tonnes of uranium.

But mines only supplied about 48,000 tonnes of that uranium. The rest was covered by inventories, according to data from the Uranium Information Centre. And those inventories, in turn, came mostly from reprocessed Russian nuclear weapons — a program that is slated to end in just a few short years.

Meanwhile, there are 28 reactors under construction around the world and another 62 being planned:

* Japan intends to add 11 by 2010.
* China hopes to add as many as 30 by 2020.
* India wants to build up to 20 more.
* Russia’s energy goals call for at least 42 new nuclear reactors ... perhaps as many as 58!

Don’t forget about Uncle Sam, either. While the U.S. has 103 nuclear plants producing 20% of its energy requirements, it’s almost embarrassing how old the plants are.

In fact, there hasn’t been a new U.S. nuclear power plant ordered since the 1970s. But that’s about to change! There are 29 pending license requests for the construction of new nuclear power plants in the U.S.

And I expect many more new plants as existing facilities reach the end of their design life and U.S. energy needs increase. Experts are predicting that the U.S. will need 50% more electrical power by 2025.

All told, scientists estimate that the world will need about 900 more nuclear power plants by 2050!

Utilities and other uranium users were already nervous about the supply/demand squeeze. Then disaster struck in October when Cameco’s Cigar Lake Mine flooded.

Cameco planned to bring Cigar Lake online in 2008, with seven million pounds of uranium in the first year and full-scale production of 18 million pounds annually thereafter. Keep in mind, 18 million pounds is more than a tenth of last year's total global demand of 171 million pounds. That’s like the global oil market losing Saudi Arabia’s production!

In 2008, uranium demand was already expected to exceed supply by 25 million pounds. With Cigar Lake seriously delayed, that gap will be 32 million pounds. Put another way — the shortfall in uranium is going to soar by 30% just in 2008.

Sure, Cigar Lake will be brought into production eventually. But meanwhile, demand keeps building up. Uranium consumers around the world can see this squeeze coming, so the race is on. That explains why spot uranium prices basically dou

[Mick100]

China Seeks Annual Imports of 2,500t of Australian Uranium

By David Harman
10 Jan 2007 at 08:44 AM EST


SHANGHAI (Interfax-China) -- China will likely seek annual imports of about 2,500 tonnes of Australian uranium by 2020, or about one thirds of its expected annual demand of 7,500, according to uranium experts.

Last week, Australia, with just under a quarter of world uranium production, and China ratified two uranium trade agreements signed in April 2006.




Michael Angwin, an expert with Australian Uranium Association indicated to Interfax that it would take some time before exports begin as China will first have to make commercial contracts and negotiate commercial contracts with Australian producers.

Global demand is expected to double in the next 25 years, Angwin said, lead by China's ambitious plan to increase nuclear energy capacity by almost 5-fold to 40 gigawatts by 2020, equaling Russia nuclear plans for 2030, and twice as large as India's plans.

Currently, there are 28 reactors under construction around the world and another 62 being planned. Japan intends to add 11 more by the year 2010 and China hopes to add 24 to 30 by 2020.

Uranium prices doubled last year and are up 6-fold in the last 5 years at $72 per pound. The decline in secondary supplies, produced from recycling and reprocessing spend fuel, has been the key driver of prices which are expected to continue increasing in the short term and stabilize, said Angwin.

About 440 reactors require about 154 million pounds of uranium from mines and stockpiles each year, and the stockpile of uranium that resulted from the disassembling of nuclear weapons by the Soviet Union is rapidly dwindling. The Cigar Lake also put a squeeze on futures supplies.

Last month, Merrill Lynch & Co. raised its 2008 uranium prices forecast by 78% citing increased demand and delays in new mine output and increased demand from nuclear reactors being built in China and India.

Australia’s uranium mines are ERA’s [ASX:ERA] Ranger with annual production of 5,006 tonnes in 2005, BHP Billiton’s [NYSE:BHP; ASX:BHP] Olympic Dam with 3,688 tonnes and Heathgate’s Beverley with 825 tonnes.

Commentary

With more than 50% of global production coming from Canada and Australia, and only eight companies controlling over 70% of all resources, the scenario is developing much along the lines of the iron ore cartel. China is particularly vulnerable to ever increasing prices as it has very little domestic resources.

Even without massive nuclear expansion, global shortfall is currently 40%. Although prices have seen a ten-fold increase since the start of the century, expect strong gains once again this year.

© Interfax-China 2007

[tricha]

A bit of light reading for U over the weekend!

Profiting From the Next Phase of the Uranium Bull Market By Marin Katusa
11 Jan 2007 at 04:01 PM EST


STOWE, Vt. (Casey Research Advertorial) -- With the spot price of uranium appreciating by 927% over the last 6 years, there’s little question the easy money in the sector has been made**. If, however, you pick your investments closely, there is a lot of upside remaining in the uranium bull market.

The uranium bull has come about due to the simple fundamentals of supply and demand, exacerbated by a global resurgence of interest in nuclear power as a mass energy solution. A resurgence helped by widespread concerns over global warming: unlike carbon-based fuels, nuclear emits no greenhouse gas.




In fast growing economies such as India and China, debate over the role of nuclear energy in providing mass power is effectively over: there are no other realistic alternatives to provide desperately needed baseload power. That explains why, in Asia alone, 57 new nuclear power plants are projected by 2015, a feverish pace. For these countries, nuclear is not just an option, but an imperative.

A corresponding growth in demand for uranium fuel is inevitable, but that demand only makes a bad situation worse, with new mine supplies already running about 40% behind demand. That deficit largely explains why uranium has skyrocketed in recent years, moving from just over $7 in January of 2001, to over $72 today.

Until relatively recently, there has been only one way to profit from this opportunity; by investing in companies involved in uranium production, processing or exploration. If you were in on the trend early, it was like the proverbial shooting fish in a barrel. Big fish.

Before the recent mania, back in October of 1998, Doug Casey was a lone voice in the woods when he issued a 16-page special report for subscribers detailing the reasons uranium was a screaming buy. At that time, you could count the number of junior uranium explorers on two hands. Many of his readers literally made fortunes from the small universe of stocks he brought to their attention (to provide just one example, his lead recommendation, Paladin, subsequently appreciated by over 3,000%, turning $10,000 into $300,000).

But that was then, and this is now. Today, interest in uranium has exploded and, as you would imagine, the market has become flooded with freshly-minted “uranium explorers”… close to 400 companies at last count. Make no mistake, the vast majority are nothing more than overpriced, over-hyped shells with little more in the way of assets than mildly radioactive moose pasture and aggressive corporate promoters who know how to spin a good story.

Put another way, the initial, “easy money” phase of this play is over. If you’re looking to profit from rising uranium prices going forward – and we are convinced they will continue to rise – you’ll have to pay a lot more attention to your securities selection. We’ll discuss some of the key criteria to consider on that front momentarily, but first a quick look at the uranium spot price.

Where Is the Spot Price Going?

To understand where the spot price is headed you first have to understand the purchasers and their roles. The primary purchasers of uranium are nuclear power utilities. Historically, they have contracted for fuel for a set period of time, stockpiling when they grew convinced that prices would be rising.

There is, however, a relatively new secondary market that has developed, devoted to buying and holding the metal itself. Funds such as the Uranium Participation Corporation effectively stockpile uranium, with the full intent of selling it later to the nuclear industry at substantially higher prices. These organizations have served to provide a baseline of support for the spot price of uranium between buying cycles. It’s an important role, because higher prices provide the incenti

[Harry7]

Thanks Ticha for the informative article. Spot on advice for what will be an excellent investment year for quality Ur stocks :D

[stolwyk]

Asian Leaders Plan Free-Trade Area From India to N.Z. (Update4)

http://www.bloomberg.com/apps/news?pid=20601087&sid=aYKyPtaLLyjo&refer=home



Quote:

"The Asian leaders also agreed to reduce dependence on conventional fuels such as coal and invest in biofuels and nuclear energy. Each nation said they would adopt a 12-point plan to reduce fossil fuels and invest in green energy to combat climate change".

COMMENT: More pressure on QLND and WA (Uranium Mining).

[BillMcHenry]

Oops! My first post accidentaly started a new topic. Sorry. [:0]


After several tries, days, &gt; yr.., FINALLY, Hello!

as I typed the other day:
I just typed a big message about how I've followed the sector, etc for years..., watched this board a bit ~2 yrs ago, and MUCH appreicate you linking things to research reports over there so I can comnpare my takes with those with an ear closer to the gorund over there. Any more reseearch links would be greatly appreciated.
I HAD typed a whole lot.., and unfortunately too winded now [fingers, attn, patience, etc] to do it all over now. Check my website and it may have info or links you folks could use. Lets endeavor to share some info. [FYI: Wrongheaded as many stupid Americans are..., it is very rare when they get Aussie holdings as I have. Exceptionally so without ADRs. I went to great lengths for my modest means to do so - and that's even with 24 yrs and a CFA of experience!]
We'll chat more. THANKS, and have a great day!

I just typed a big message about how I've followed the sector, etc for years..., watched this board a bit ~2 yrs ago, and MUCH appreicate you linking things to research reports over there so I can comnpare my takes with those with an ear closer to the gorund over there. Any more reseearch links would be greatly appreciated.
I HAD typed a whole lot then host crashed.., and unfortunately too winded now [fingers, attn, patience, etc] to do it all over now. Check my website and it may have info or links you folks could use. Lets endeavor to share some info. [FYI: Wrongheaded as many stupid Americans are..., it is very rare when they get Aussie holdings as I have. Exceptionally so without ADRs. I went to great lengths for my modest means to do so - and that's even with 24 yrs and a CFA of experience!]

We'll chat more. THANKS, and have a great day!


P.S.: Sorry about our President [got that NSA?]. NOT my fault, I was ALWAYS much against him.

[BillMcHenry]

Sorry, 2nd mistake: I posted accidentally rebutal to comments/questions on a wrong thread which only perpetuated that mistake. So pardon the redunancy [for those who might have seen] and lets get this corrected and I will drop that typing here so it's not a waste and I get this fixed going forward.

Sorry, wasn't/can't type as much as I did originally. Can't spend that much time now.

My website is uraniumanalyst.com

Much of the info mentioned/asked about was typed 1st times, or is there. [When I hit "post reply" it didn't post it and lost my legthy typing. Then took lots of tries to get subscribed, etc.]

"Masters of the free world"? No, I am not your typical pig headed egotistical American. I am on your side in some of these sentiments.., and I tried to be up front in telling you so. Having done that I don't want to camp/spend time too much on peripheral things. I AM with you. I am sorry many people here don't know any better - such are the perils of mankind everywhere..., particularily with closed minds lacking introspection.

We should convert to celcious (sp?). I'm w/ you folks on these things.

Try and take my experience and advice and take it as a compliment and a experienced opinion validating your opportunity. I tried to tell you such. Many opinions make a market.., but I have some good records and experience, and heck, so good so far here right? So back to task, can you offer some insights about what you folks like over there? Any report links you can post?

Frankly, if I am right about how much cheaper the riosk/rewards are over there you wouldn't want to buy any North American stocks - OR I WOULD BE POSTING SOME! I think I mentioned Uramin, Oriiginally from the UK. If it backs off a touch I'll digress on it.

Have a good day


--------------------------------------------------------------------------------
Bill McHenry


BillMcHenry
Junior Member




6 Posts
Posted - 18/01/2007 : 05:37:26 AM
--------------------------------------------------------------------------------

BTW: "Bill: Why are u interested in the ASX sector anyway? It is so small compare to the rest of the world in terms of market share." THAT IS EXACTLY WHY I AM INTERESTED IN IT. AND WHY IMHO YOU SHOULD BE TOO. Yes there will be international discrepencies in relative pricing, value, etc, etc, but in time your risk/rewar valuations will come up more comporable w/ North America. IT IS THIS DIFFICULTY IN GETTING INFO, CASH, AND AMERICAN NAIVITEE, ETC TO YOUR MARKET THAT AMKE THIS A SLOW INCREMENTAL PROCESS. But we'll get there, and so will you. Look how your sector has come up already. Just because your sector is "so small" does not mean it is not the best risk/reward on the planet. {I wouldn't go that far but generally I belive it's defintely a better one.}

You folks are used to more dramatic price swings than here. Markets are much more mature [I ONLY mean that in an evolutionery business phase sense - so don't take it any other way or you miss the very real point] here and incremental news flow gets incremental pricing changes. Co's post info a lot quicker here. Your co's will in time as more capital envelopes the secotr over time. IMHO that is part of the secular rotation from a fincial asset bull market to a real assets bull market - which will bring a lot more cash into your resource based markets. Gotta hop. I hope youtake advantage of why I blieve in the fullness of time to be true...



--------------------------------------------------------------------------------
Bill McHenry

[Skol]

U308 up to $75/lb
It has broken about a 5 week impasse apparently with buyers but no sellers. The latest increase shows the bulls are in charge and with the Cigar Lake flooding it's almost sure to go higher.

[shasta]

http://www.kyivpost.com/nation/26004/

Article on Ukraine's Uranium deposits & the possiblilty of foreigners being allowed to mine it.

Any current ASX listed "U" companies have tenements in the Ukraine?

[Crypto Crude]

Hello shasta,
yes.... Uran (URA)
quote-"a Landmark agreements with two key state agencies in Ukraine to jointly complete a financial feasibility study on TWO sedimentary- hosted uranium deposits in eastern Ukraine at (Surskoye, Gurevskoye) located in the Dnipropetrovsky region...
drilling to commence early 2007, leading to project development by mid year, hopeful production during 2nd half of year....
URA is a superstar in the making... In the last two weeks shareprice has fallen 20%.... URA announced a share purchase plan to rasie capital last week... we have seen a sell off due to the fact that the SPP has allowed shareholders to sell off some of their holdings and buy back with the SPP at a 20% discount at some time in the future...
also, Uran is in negotiations with Czech republic on an opportunity to participate in the Rozna mine...
also in talks with Kazakhstan, Uzbekistan...
also, divesting its nickel assets, we will get free shares in a new IPO....
check out this announcement on the ukraine opportunity
www.asx.com.au/asxpdf/20061218/pdf/3105kw5g993m4m.pdf (Ukraine opportunity)
[8D]
.^sc- SC currently holding URA... Superstar in the making....

[Crypto Crude]

URA current undiluted market value is $41m....
loooks tooo goood tooo beee trueee
[8D]
.^sc

[shasta]

Thanks SC

Will investigate URA further, i like the U308 companies with overseas tenements, given Australia's U308 policy at present.

[stolwyk]

The Uranium Boom: Tap into the World's Most Sought-after Natural Resource

http://newsblaze.com/story/20070204181908nnnn.nb/newsblaze/BOOKPUBL/Book-Publishing.html

[shasta]

Nuclear Energy The Future: Howard
12:49 pm, 04 Feb 2007

Governments around the world have been responding to a United Nations report that warns of the need for urgent action on climate change, to avoid irreversible damage to the planet.

The Inter-governmental Panel on Climate Change says global warming is very likely due to human activity, and predicts rising sea levels, and worsening storms and droughts.

Australian Prime Minister John Howard says the report is further proof that the country should be looking toward nuclear energy.

Mr Howard says wind energy and solar power are not the solution.

He says his government will not change its mind over the Kyoto protocol treaty, which it has refused to sign.

The EU describes it as the starkest warning yet, and Britain says climate change threatened world peace and prosperity.

The United States, which produces about quarter of the world's greenhouse gases, called the report valuable, but the White House has again expressed opposition to compulsory caps on greenhouse gas emissions.

And American Energy Secretary Sam Bodman rejected criticism of the United States' record.

The New Zealand government says it is targeting transport, electricity, forestry and agriculture to try to reduce greenhouse gas emissions.

© NewsRoom 2007

[stolwyk]

Cameco May Halt Water Leak at Mine in Second Quarter (Update2)

By Christopher Donville

Jan. 25 (Bloomberg) -- Cameco Corp., the world's largest uranium producer, plans to finish sealing a water leak at its flooded Cigar Lake mine in northern Canada in the second quarter and said a cost estimate would be delayed by a month.

Preliminary costs and a timeline for repairs will be ready by late March, Saskatoon, Saskatchewan-based Cameco said today in a statement.

Cameco's shares fell 5.1 percent three days ago as investors grew concerned rehabilitation might be delayed indefinitely. Cameco spokesman Lyle Krahn denied the speculation. The stock fell 47 cents, or 1 percent, to C$45.10 at 4:10 p.m. on the Toronto Stock Exchange.

Cameco had predicted the mine would supply as much as 10 percent of the world's uranium when it reached full production in 2010. The Cigar Lake deposit, in northern Saskatchewan, contains reserves of 232 million pounds of uranium, a raw element used in fuel for nuclear reactors.

``On the surface, the news appears to be better than some rumors that have been circulating about extreme difficulties with remediation,'' Kevin Bambrough, a strategist at fund manager Sprott Asset Management Inc. in Toronto, said in a telephone interview.

Development of the mine was halted in October after the flood. It had been scheduled to open in 2008. The company initially said the flood would delay construction by at least a year.

Timing

The price of uranium almost doubled last year to $72 a pound as hedge funds and other speculative investors competed with nuclear power plants for supplies. The price has been unchanged since the middle of December.

``I expect the uranium price will begin to head higher in anticipation of Cameco's full mine update in March,'' Bambrough said. ``There's a significant possibility the rehabilitation will take many years.''

The mine at Cigar Lake is 50 percent owned by Cameco, with the remainder held by Areva Resources Canada Inc., Idemitsu Uranium Exploration Canada Ltd. and TEPCO Resources Inc.

To contact the reporter on this story: Christopher Donville in Vancouver at cjdonville@bloomberg.net

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aYud.MN9IVoY

[Skol]

New news or old news? Cigar Lake customers told to defer U308 delivery 5 - 7 years. Glad I own some uranium shares.

[Skol]

Heres something for the uranium bulls.

www.moneyweek.com/file/25277/seven-reasons-the-uranium-price-will-hit-100-this-year.html

[stolwyk]

I predicted $100 in 2007-See below; but since that bad Cameco news came through, I want to upgrade that prediction to $115.

Note that my previous prediction (Made on 11 May 2006 and to last till May 11, 2007) was conservative:
______________________________________________

Posted - 27/09/2006 : 5:11:49 PM

1. PREDICTION OF U PRICES.

COMMENT: Refer to my post of 18 June:
"That is very low. Price on 11 May (see this thread) was already $42 and I pointed out that one can expect some additional $26 in the next 12 months to bring a total of US$68/lb".

Comment: We need to get $68 on 11 May 2007. It is now $54.00. I need another $14 to bring the price up to $68.

Sofar, 139 days have lapsed since 11 May and we gained $12. Till 11 May 2007, we could get: 365/139*$12=$31.51.

Add that to the original $42=$73.51, say US$73.50 instead of $68 predicted; so we are well on the way.

Based on $73.50, that would be an increase of 75% in one year!

However, we'll stick to $68 in the meantime. Am expecting say $100 in the year thereafter".

__________________________________________________ ____

Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks or metals/commodities.

[BillMcHenry]

I would get Uramin. IMHO they will be the next Paladin type. I've followed the group for a long time now. I remember when no would touch them or Aflease (now SXR); now those are mainstream. &lt;1 yr from now Uramin will be too (as will Forsys, but not as attractive).

Summit would be hard to leave out. Either they'llbe producing or Paladin buys that half and they still do. Myself I like to be a bit more upstream exploration higher risk/reward. Just thought Uramin is a great vertical mix and cheap too.

[shasta]

Major

In anticipation of Gerry's answer, i would say PDN, SMM, AGS, URA & DYL/MTN are ahead of the pack in terms of being "U" producers IMO.

Outside of these, the rest are pretty much spec explorers & are much further away from producing U, & therefore, IMO are well down the pecking order.

Disc: Hold URA, DYL

[shasta]

http://www.zeenews.com/articles.asp?aid=353149&sid=NAT&ssid=

Article below from the above site


Home &gt; Nation



Australia could sell Uranium `within a decade`

Melbourne, Feb 09: Australia could be selling Uranium to India within a decade in view of its Nuclear credentials, one of the country's chief nuclear advisers said here Friday.

"I expect that India could join the nations to which we export (Uranium) in the not too distant future," Ziggy Switkowski, who headed the government's Nuclear Task Force, said while praising New Delhi's Nuclear credentials.

The official said while it was a political decision, it may not be too long before India follows in the footsteps of China, which last year got the green light to buy Australian Uranium.

Australia has so far refused to consider selling Uranium to India because it is not a signatory to the Nuclear Non-Proliferation Treaty (NPT). China is a party to the treaty.

"..if it's going to happen, I would expect it to happen before the end of the decade," Switkowski was quoted as saying by AAP after an address to the Uranium Club of Australia here.

While India had not signed the NPT, Switkowski said it had good credentials. "India's credentials are well regarded in Australia and... therefore it may mean they emerge eventually as a potential market for Australian Uranium," he said.

Australia has faced pressure from Washington and New Delhi to alter its line after the signing of the Indo-US Civilian Nuclear Deal.

Last year, Australia had insisted that it had no plans to change its Uranium policy. But last month, Foreign Minister Alexander Downer appeared to have softened his position saying it was an issue still up for discussion between the two countries.

Bureau Report

[marcer]

quote:Originally posted by major

Hi Gerry,
Could I ask a favour?
Could you list say, 5 U stocks that you think have good medium term potential and would be worthy of further investigation by anyone interested and maybe another 5 that you think don't deserve the attention they are currently getting? A short sentence as to your reason for each choice would be appreciated.

I am interested because there are supposed to be 70 or more Uranium hopefuls, with only 3 I believe currently producing.



Major - Check out CMR Compass Resources

Own - an ex uranium mine at Rum Jungle that was mined into the early 1960's. Currently setting up a production plant to mine their other metals in the area.

They will release to the market (according to the most recent quarterly) sometime in February, the results of a uranium mining feasibility study for the area.

Do your own research.

[stolwyk]

Hi Major,

I am too occupied with being a moderator on H/C and posting there as well.

Your question involves a lot of work, so I can't find the time to answer it.

Here, I am posting on SMM and URA. There is always risk of course.

Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks or metals/commodities.

[BillMcHenry]

We've kind of danced around a good point: one's risk tolerance. In the sector that is manifasted by how upstream of exploration risk do you want?

The valuations roll up as they get closer to production. I was alluding to the fact that this worked in a huge way w/ Paladin and SXR/Aflease over last several years and that now Uramin was on that track. To a lessor attractiveness Forsys. Forsys is richer and doesn't have the verticality of other projects that Uramin does. SMM is more a 1 trick pony as far as assets/company goes [but I would sprinkle some in, doesn't mean not to, just offers less long term continuation of growth]. Got to go: the point was get some vertical risk exposure as that has been where the real money has been this whole time. Leading hedge fund on the group here in US and everyone else eschewed risk concerns for the very things they turn around and love the next year [classic was Aflease/SXR, and I was buying.] Be one up on them w/ at least some of portfolio. The diversify. No one knows whats underground till they get there.

[BillMcHenry]

BTW, here's an Aussie co in here w/ US news IOI: UraniumKing

N.M. company joins search for uranium

By Zsombor Peter
Staff Writer

GALLUP — Add the Uranium Company of New Mexico to the latest wave of mining operations applying for exploration permits around Mt. Taylor. The mining company, which has ties to an Australian firm, filed its application with the New Mexico Mining and Minerals Division in December.

Indian tribes in the area and the grassroots groups they've joined forces with are urging the state not to grant the permits. Still living with the environmental fallout of past uranium mining booms, they fear that another would only bring them more of the same.

Public comments are due Friday.

Fueled by a renewed global interest in nuclear power, uranium prices started to skyrocket in 2003. In the past few years, seven companies have filed for exploratory permits around Mt. Taylor alone. Uranium Company makes eight.

"We've been waiting since 1987 for uranium prices to go up enough so we could start exploring," said Karl Meyers, who identified himself as the general manager of the company, which has held continuous title to the land since 1968.

The site, about 3,000 acres according to Meyers, sits in the extreme southwest corner of Sandoval County, a few miles north of the Navajo Nation's Tohajiilee Chapter and west of the Laguna Indian Reservation. In its application, Uranium Company lays out its plans to drill 10 holes each 600 feet deep and five inches wide to find out exactly how much uranium lies underneath. According to a 2006 prospectus designed to attract investors, there could be more than 4.5 million pounds at 12 percent U3O8 (a relatively stable combination of uranium and oxygen).

Uranium Company hopes to start drilling by April.

On its own, one exploration project isn't too much for the surrounding tribes to worry about.

"It's not about any one exploration project," said Chris Shuey, an environmental health specialist for the Southwest Research and Information Center, a non-profit group out of Albuquerque helping local tribes keep the uranium industry off of Indian land.

"Each one of these is a relatively small operation ... but when you start looking at the cumulative effect," he said, "all of a sudden it starts to add up to a major impact."

Local miners are still filing for restitution under the federal government's Radiation Exposure Compensation Act, which extends eligibility to people who worked in a uranium mine anywhere in the country prior to 1971. Others blame their chronic ailments on residual radiation from nearby mining sites still waiting to be cleaned up decades after they've been abandoned.

Today's mining and exploration companies say modern technology and tougher government regulations would spare them a repeat. But tribes aren't convinced.

In 2005, the Navajo Nation Council approved the Diné Natural Resources Protection Act, which bans all uranium mining on Navajoland. This past December, at the first Indigenous World Uranium Summit, co-hosted by the Navajo Nation in Window Rock, grassroots groups from some half-dozen countries ratified a declaration opposing all uranium-related activity on "native lands."

For the local tribes that hold Mt. Taylor sacred, mining the area would also constitute a desecration of the site. Unfortunately for them, the mountain sits on one of the most historically prolific uranium belts in the country.

With all the renewed interest in the area, they're waiting on Gov. Bill Richardson to take a firm position on uranium mining in the state, one they hope opposed to it.

But the companies pulling the state in the other direction aren't just well funded. They're multinational.

Uranium Company is so new it's not even registered with the state yet. But according to Meyers, it's tied to Mineral Energy and Technology, which had its uranium assets acquired by Uranium King an exploration company out of Australia last summer. Western Energy Development, another company after an exploration permit near M

[Harry7]

Big rises on open for producers PDN and ERA. Has the spot price jump to US$80/lb been confirmed?

[Crypto Crude]

Somethings up.... namely URA,UXA,UTO,BMN, UNX trading halt,UEQ,UKL marginally,USA....
I can't confirm if Uraniums at $80....
analysts are predicting that $80 will be the bottom end of the range for U prices this year... and up to $120...
[8D]
.^sc

[BillMcHenry]

The "something" is
Couple of the top two new producers merge. [Ones we recommended and owned years ago when SXR was Aflease...] Portends more acquisitions and consolidation and the sector jumps up to the next level:
"Uranium miners merge


Terry Macalister
Monday February 12, 2007
Guardian Unlimited


The scramble for uranium to supply a future breed of nuclear reactors has led to a $5bn (£2.6bn) merger of two of the sector's biggest mining companies, Uranium One and UrAsia Energy, which is listed in London.
Neal Froneman, chief executive of Uranium One and prospective boss of the Canadian-based combined group, said he expected to see the price of uranium rise from $75 a pound to over $100 by the middle of this year.

"For the next five years there will be a significant constraint on supply," he added.
A new report from accountant Ernst & Young showed uranium represents 10% of its mining index compared with 1% only 12 months earlier, underlining the way mining companies in this part of the minerals world have been rushing to raise money on London's junior stock market, Aim.
Shares in Uranium One and UrAsia raced forward by more than 10% as analysts saw the two firms giving themselves a stronger position in a fast-consolidating sector.
BHP spent more than $7bn in 2005 taking control of WMC Resources, which controls Olympic Dam in South Australia, the biggest uranium mine in the world.
Uranium One expects to complete its acquisition of UrAsia by May by offering its shareholders 0.45 shares in Uranium One for each share in UrAsia. The two firms together will have more than 7m lbs of annual production from five operations.
Mr Froneman said they would benefit from being the only big uranium miner to have production in each of the five biggest resource areas: Kazakhstan, South Africa, Australia, Canada and the US.
"We will have one of the lowest production costs, which amounts to between $10 and $12 per pound," he added.
Some of the uranium is supplied to European customers but the company declined to name them. ..."

Bill McHenry, CFA
Uraniumanalyst.com

[laurie]

Has everyone forgotten about ERA! going to fly past BHP sp shortly :D

cheers laurie

[Skol]

[quote]Originally posted by laurie

Has everyone forgotten about ERA! going to fly past BHP sp shortly [:

Taken my profits in ERA. Average sale price for their U308 about $17/lb when spot price is $75. Also hamstrung by production delays. Better off with PDN or maybe SMM and hope that labour changes its mind on uranium which it probably will.
WA has $40billion worth in the ground.

[stolwyk]

Thanks yellowcake:


"Everyone is running to Namibia for uranium and we don't want every Jack and Jill mining uranium ...," he said.

Iita also said uranium was a special mineral, adding that the Government was reconsidering its policies on the resource."

-------------------------------------------------------
Namibia: Government Calls Halt to Uranium Licences

The Namibian (Windhoek)

February 14, 2007
Posted to the web February 14, 2007

Tonderai Katswara

AS applications pour into Namibia from companies intending to prospect for uranium, the Ministry of Mines and Energy has stopped accepting such requests.

It will soon announce a moratorium in the Government Gazette.
Western Union

The Namibian has it on good authority that the Ministry stopped accepting applications for uranium prospecting and exploration two months ago.

This comes hot on the heels of a similar moratorium slapped on the granting of diamond cutting and polishing licences by the same Ministry early this month, after the renewal of a five-year sales agreement between Government and De Beers on January 30.

In the last two years, Namibia has become a global attraction because of its mineral deposits hugely in demand on international markets, like uranium and diamonds.

In an interview with The Namibian yesterday, the Permanent Secretary of Mines and Energy, Joseph Iita, confirmed that no applications were currently being accepted, adding that more would soon be revealed in the Government Gazette.

"It's a matter of regulating the issue of licences.

Everyone is running to Namibia for uranium and we don't want every Jack and Jill mining uranium ...," he said.

Iita also said uranium was a special mineral, adding that the Government was reconsidering its policies on the resource.

He said there was an upsurge in the global demand for uranium, hence the need to regulate uranium activities.

Said Iita: "The world is now highly advanced and has come up with all sorts of uses for uranium.

In the end uranium is not only used for the generation of electricity, but can be used for destructive purposes as well."

Local and international companies alike have of late been rushing in with applications for uranium prospecting and mining in Namibia.

To date, more than 20 mining outfits are doing uranium prospecting and exploration, mainly in the Erongo Region.

These companies are of an international mix with various owners from Namibia, China, Australia and Ghana, among a host of others.

However, there are currently only two active uranium mines - Roessing Uranium and Langer Heinrich Uranium.

With the possibility of a looming power crunch in southern Africa, nuclear power is being touted as an alternative power source.

Last month the Ministry of Mines and Energy announced that Government was considering a nuclear power plant to escape the impending energy crisis and was looking for international partners to achieve this.

Namibia imports about 50 per cent of its electricity needs, mainly from South Africa.

http://allafrica.com/stories/200702140503.html

[stolwyk]

Thanks yellowcake:

Suspend Uranium mining – Don’t be short changed
Feb 14,2007 by Edgar Msowoya

Malawi government must be cautious in the dealings with Paladin Resources Inc of Australia in order to realise full benefits from the Kayelekera project and avoid being short changed by companies scrambling for African resources.

The government SHOULD CANCEL or RENEGOTIATE the FINANCIAL BENEFITS TO THE NATION taking into consideration of its ailing and dwindling forex earnings from tobacco. The uranium mining project which has a life span of 10 years can be a good short term substitute as the country recovers from the tobacco export earnings set backs.

Recently, the civil society groups warned government that it stands to lose the benefits of uranium mining if the issue is not handled properly.

Uranium is called the “white-hot metal,” and not only because it glows in the dark but during the course of 2006, uranium spot market price continually climbed by 99% from US$36.25 to US$72 per pound and now hitting US$75 per pound. The price is now more than 10 times its record low of US$7 per pound that it hit in 2000.

Despite the big bull rally in uranium over the past couple years, on a historical basis, it is still dirt-cheap. Uranium has not come anywhere near its old peak in inflation-adjusted terms. In 1978, uranium topped at US$43.40 per pound - but adjusted for inflation, that is around US$145 per pound in today’s dollar terms. It is now trading at US$75 per pound. That means uranium could nearly double and still not surpass its old inflation-adjusted highs. That is why we are looking at US$100 uranium by the end of this year - a 39% move from recent levels.

Institute for Policy Interaction (IPI) executive director Rafiq Hajat and Renford Mwangonde from Citizen for Justice told the media that Malawi would get only 5% of the project output while 95 percent would go to the investors, an observation the two described as unfair to the people of Malawi.

The supply/demand gap is ever increasing. About 16% of the world's electricity last year came from 440 nuclear reactors according to the World Nuclear Association. Currently, there are 28 reactors under construction around the world and another 62 being planned.

There are undeniable realities that demand for uranium is outstripping supply. In 2005 supply from mines was 102.5 million pounds while demand was 171 million pounds, leaving a supply gap of 68.5 million pounds.

The Chinese are hot-footing it through the Australian outback with bags of cash, investing in the best small companies sitting on large quantities of uranium. China plans to import 2,500 metric tonnes of Australian uranium per year by 2020, as it builds 24-30 new atomic power plants. The really bullish news is that China’s total expected annual uranium demand is three times as much - 7,500 metric tonnes.

Paladin’s chief geologist Ed Becker last years September said Malawi would be getting K14 billion (about US$100 million) annually from the project which represented about 20 percent of total export income without taking into considerations the implications of the project. The amount Malawi will get is nothing in real term value as compared to the upsurge in prices. Malawi can benefit much more than the said 5%. The mineral is on Malawi soil and the country should not be short changed because of its lack of negotiating skills.

Gevin Mudd, a visiting environmental expert and lecturer in environmental engineering at Monash University, who was in the country to asses the environmental impact assessment (EIA) report on the project warned that the Kayelekera EIA report that Paladin International released last year has some flaws that may put the lives of people at risk and urged government to take some studies before mining takes in Karonga.

Meanwhile, Namibia has suspended issuing new uranium prospecting licences, as it seeks to bring order in the rush for its uranium resources.

"It's a matter of regulating the issue of licences,” Lita was quoted as saying. “Everyone is running

[shasta]

For fans of the Yellowcake, & a few U308 companies on the US Exchange.


World’s Uranium Companies Beginning to Head to U.S. Stock Exchanges

Submitted by JamesFinch on February 12, 2007 - 5:11pm. Business | Investing


A soaring uranium price performs magic for many of the companies who have begun developing their uranium assets and moving toward production. Canadian, Australian and South African uranium companies are eyeing listings on U.S. stock exchanges. Some have already begun.

Three years ago, one could only find Cameco Corp (CCJ) trading on the New York Stock exchange. As of late November 2006, Energy Metals Corp (EMU) began trading on the NYSE ARCA. Energy Metals is currently developing their Texas uranium in situ recovery mine for production in either late 2007 or early 2008.

One tier down on the American Stock Exchange is the Fronteer Group (FRG), which is a hybrid gold company holding uranium-mineralized assets. A recent entry to the American exchange is first pure-play uranium company to trade on this exchange: Uranerz Energy (URZ). Uranerz is now the second publicly traded company, after Cameco Corp, in which investors can also trade stock options. The announcement was made at the end of January.

After those, there are a number of different companies with some prospects better than others. However, before reviewing those, let’s look at what could well become the world’s second largest uranium company, by market capitalization, after Cameco Corp. On early Monday morning, Canada’s Globe and Mail newspaper published a report that Johannesburg- and Toronto-listed SXR Uranium One (TSX: SXR) planned to acquire TSX- and AIM-listed UrAsia Energy (TSX: UUU) for approximately $3 billion. In what has been announced as a friendly take-over, SXR Uranium One plans to issue some $3.1 billion in stock to buy UrAsia. Before the announcement, SXR was valued at less than CDN$2 billion.

In previous interviews with SXR Uranium One chief executive Neal Froneman, he has repeatedly told us he wishes to list on a U.S. stock exchange. If and when the acquisition closes – it was announced that it should by mid May of this year – the new Uranium One would hold uranium properties on four continents: Africa, Australia, Asia and North America. SXR’s Dominion uranium mine should begin producing this March. UrAsia Energy is currently producing in Kazakhstan. SXR’s Australian ‘Honeymoon’ in situ leach uranium operation is scheduled to start producing in early 2008.

According to Canada’s national newspaper, the combined companies have the potential to annually produce some 19 million pounds by 2012. That’s about what Cameco Corp’s Cigar Lake was expected to produce before the mine flooded this past October. Since then, Cameco has delayed in announcing when the company believes its uranium mine will actually be in shape to produce uranium.

Based upon our conversations with Neal Froneman, and in light of this new business combination creating the world’s second largest uranium mining company, it shouldn’t be too far into the future when Uranium One announces it plans to list on the New York Stock Exchange. The headline of their February 12th news release announced, “Uranium One and UrAsia Energy Announce Combination to Create Emerging Senior Uranium Company.” Aside from Cameco Corp, there really is no other senior pure play uranium company.

As for the rest of the companies now trading on the over the counter bulletin board, we have reviewed two which offer hope to investors. Uranium Energy (OTC BB: URME) plans to mine uranium using the in situ recovery (ISR) method. Chief operating officer Harry Anthony appears to be one of the boys in the ISR club with decades of experience behind him. He lives and works in south Texas.

After extensive interviews with Mr. Anthony – which we used in our publication “Investing in the Great Uranium Bull Market” in explaining the ISR method of mining – it became evident to us that if Anthony couldn’t get an ISR operation functioning in Texas, that no one else on the planet wa

[tricha]

Wednesday, February 14th, 2007

The full monty - http://www.goldworld.com/newsletter.php?id=114

Up 900% in Five Years But Still Going Higher
By Luke Burgess


BALTIMORE, MD - Since the beginning of 2001, uranium prices have mushroomed 900% selling today for a multi-decade high of $75 per pound. But because of severe supply constraints, we think the energy metal still has plenty of room to grow.

Sometime in the first century, a small group of potters living in a tiny village in Italy discovered that mixing uranium powder with standard glaze gave their ceramics a handsome yellow tint.

The technique was short-lived and disappeared some 400 years later with the fall of the Roman Empire. But in the early 19th century, the Germans rediscovered uranium's aesthetic properties. This time uranium powder was mixed with glass, creating something known as "vaseline glass".

Vaseline glass, which can still be found in antique shops today, has a yellow-green hue in normal light. But when put under an ultraviolet light, like a black-light, vaseline glass glows a wild fluorescent green. Take a look at the antique vaseline glass pitcher below:


With uranium currently in such short supply, it might seem that using it for decorative glassware is a waste of good material. But here's something most people don't know: The radioactive metal is far from rare.

Get this...

It's been estimated that the earth's crust contains more than 88 quintillion pounds of uranium. That's 88,000,000,000,000,000! The earth contains so much uranium that you can find it pretty much everywhere. As a matter of fact, it's very likely that there's uranium right in your own backyard.

But don't worry. It can't hurt you.

The total volume of uranium in your backyard is most likely minute. Truth is, there would have to be a highly concentrated deposit back there in order for it to make you sick. And this is a rare occurrence.

The rarity of such highly concentrated deposits makes finding the metal in large quantities incredibly difficult. In fact, despite the massive quantity of uranium on the planet, only a small number of highly concentrated deposits have been pinpointed around the globe.

Over 50% of the uranium produced from mines comes from in Canada (28% of the world's supply), and Australia (23%). Other major producing countries include Kazakhstan, Russia and Namibia.


Because of the limited number of large uranium deposits, a problem with a single significant mine can cause serve supply constraints.

Like Cigar Lake...

The world's largest undeveloped, high-grade uranium deposit today is Cigar Lake in Saskatchewan. Cigar Lake, operated by Cameco Corp. (TSX: CCO), holds 232 million pounds of U3O8 at a grade of 19%.

Production from Cigar Lake was scheduled to begin in early 2008. At its peak, Cigar Lake was supposed to provide 17% of world's uranium supply. But now the future of the mine is in doubt.

A few months ago, Cameco announced that Cigar Lake had sprung a leak and the underground workings are now completely flooded. From what I hear, the mine may be lost completely. But at the very least, the flood will push back production a minimum of twelve months.

News of the flood pushed uranium prices 6.6% higher, from $56 a pound to $60. The increase was the largest weekly gain in 20 years!

Today the energy metal sits at $75 a pound, a 900% increase since early 2001 and a 150% increase from just a year ago when uranium was trading for $30/lb.


And although uranium prices haven't had a down month in five years, I think the radioactive metal still has a lot of steam behind it.

About 16% of the world's electricity came from 440 nuclear reactors last year. This figure is constantly growing. Right now there are 28 reactors under construction around the world and another 62 being planned. Japan alone intends to add 11 more by the year 2010 and China hopes to add 24 to 30

[Skol]

100,000lbs of Uranium up for auction Tues US time.
www.newswiretoday.com/news/14208/

[Skol]

quote:Originally posted by stolwyk

There is some movement in share prices this morning:
PDN: 68 (+ 12) Got some yesterday.

SMM 19.5 (+2.5), I hold

CVV(CanAlaska--Canadian) 43 (+3), I hold

As to Uranium, no price increase was recorded.

As soon as I get some time I want to get back to studying some Uranium companies and report here.

Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks.

Nice one Gerry

[Nigel]

Anyone following UTO?? 20% rise today - is this a delayed response to last Tuesday's announcement?? Not sure. Several smaller U stocks doing well today. Maybe more speculation about Chinese investment.

[spector]

Heads of Agreement signed with Northern Star Resources to mine exclusively for uranium on NSR's East Kimberly region.

[spector]

GGY has had a good run today as well.... if only URA hadn't gone into freefall my uranium portfolio would be looking pretty good at the moment.

[shasta]

URA's time will come & by this Friday we should know either way.

It's DYL that's worrying me, i cant see any logical reason for it dropping back to the mid 40's.

PDN trying to suppress the price for a T/O?

[Skol]

U308 $150/lb in 2007?

www.bulloncommodities.blogspot.com/2007/02/uranium-auction.html

[Skol]

When I read today a software developer, Blaze International has agreed to aquire U308 miner Yeelirrie Minerals and Blazes shares go up 57% I think I'll bail out of the uranium scene for a while.

[spector]

quote:Originally posted by Skol

When I read today a software developer, Blaze International has agreed to aquire U308 miner Yeelirrie Minerals and Blazes shares go up 57% I think I'll bail out of the uranium scene for a while.


Sounds like it's the software developing scene you want to bail out of for a while:)

[stolwyk]

I don't think we have seen anything yet, IMHO.

Gerry

[shasta]

http://www.theconservativevoice.com/article/22924.html

Next Uranium Auction to Fetch $80/Pound?
February 19, 2007 01:00 PM EST


The weekly TradeTech uranium spot price indicator remained unchanged for a third straight week, but Tuesday’s sale of 100,000 pounds U3O8 could result in another record price spurt. According to Nuclear Market Review (NMR) editor Treva Klingbiel, “This lot of material represents an opportunity for buyers to secure material at a fixed price and is expected to be highly sought after.”

It's been two months since the last uranium auction. That one led to a record price jump in yellowcake. How will this auction compare? It could be an eye-opener.

Klingbiel pointed out in the February 16th issue of NMR, “The majority of other supply currently available to potential buyers is being offered with market-related pricing terms at time of delivery.” Utilities and other buyers hesitate to accept U3O8 and related product under these terms. As a result, the spot uranium price has remained nearly unchanged for the past two months, aside from a small percentage increase at the end of January.

Activity has come to a standstill at these lofty price levels. Uncertainty about remediation efforts by Cameco Corp at its Cigar Lake uranium project has left buyers and sellers at odds with each other. As TradeTech has told us during this two-month stalemate, buyers are nervous about paying these prices, while sellers are confident they can get even higher prices. Three weeks before the Cigar Lake flood, we reported that some utilities believed the uranium price would decline to $30/pound. By mid December, the price had jumped another 50 percent above October’s high levels.

The significant problem buyers now face is being forced to blindly agree to purchase uranium without knowing the final price tag. Contracts for the sale of uranium lack a fixed price. Because contracts are written under ‘market-related pricing terms,’ U.S. utilities and others would never really know the final cost of their purchase until months later, when the product would be delivered. Buyers might worry the final price tag could be many percentage points higher than what they believed they might be paying.

In light of these market conditions, we believe the modest sale of 100,000 pounds U3O8 would likely result in a new record spot uranium price. Treva Klingbiel is accurate in her forecast for the February 20th auction – this uranium should be highly sought after. Numerous crystal ball gazers have predicted the spot uranium price should reach $80/pound after the sealed bids are opened next week. Some have called for an even higher price tag.

COPYRIGHT © 2007 by StockInterview, Inc. ALL RIGHTS RESERVED

James Finch contributes to StockInterview.com and other publications. His focus on the uranium mining and nuclear fuel sector resulted in the widely popular “Investing in the Great Uranium Bull Market,” which is now available on http://www.stockinterview.com and on http://www.amazon.com After publishing the weekly uranium spot price indicator in the Nuclear Market Review magazine every Friday, TradeTech publishes the price indicator on the consulting service’s website at http://www.uranium.info

[shasta]

http://www.resourceinvestor.com/pebble.asp?relid=29097

Good for those ASX interests in South Africa?

PDN & DYL have the Namibia tenements, anyone know of an ASX listed U308 miner with South Africa tenements?


Uranium in South Africa: Hotspot in the Karoo

By Andrew K. Burger
19 Feb 2007 at 01:38 PM GMT-05:00


PRETORIA (ResourceInvestor.com) -- Mining activity is beginning to heat up in South Africa’s Karoo Basin, an area where uranium ore deposits are once again attracting interest from mining companies.

Brinkley Mining Plc. [AIM:BRM] on Feb. 13 confirmed that South Africa’s Department of Minerals and Energy has officially granted Western Uranium Pty. Ltd., Brinkley’s South African subsidiary, prospecting rights for four uranium prospects in the Karoo region, including two in Waterval and Rietkull, prospects that are “hugely important to Brinkley,” said a spokesperson for the company. Rights to an additional area called “remainder of Krugel’s claim 459” were also confirmed.


Rights to three of these prospects - two in the Waterval and one in the Rietkull Prospect - were previously announced on Oct. 13 last year. The fourth rights award covers the remainder of the Waterval Farm property.

Additionally, Brinkley on Dec. 8 announced that it is expanding its relationship with Blue Nightingale 709, one of its South African Black Economic Empowerment partners. In return for issuing Blue Nightingale 6 million fully paid, newly issued company shares Brinkley has obtained a right of first refusal over any uranium projects in South Africa that Blue Nightingale originates.

“Brinkley’s experience with Blue Nightingale to date has been extremely fulfilling…There are very few uranium companies outside South Africa that have achieved this without cutting corners ... Western Uranium intends to commence a work programme as soon as possible,” Brinkley’s spokesperson told Resource Investor.

The Waterval & Rietkull Farms

Western Uranium with Blue Nightingale 709 applied for prospecting rights in aggregate over five farm properties in the Karoo made up of 22 portions which are considered to host significant uranium resources.

Occurrences of uranium oxide in the Karoo Basin have been located in a broad belt stretching from the Aberdeen district through Beaufort West to Sutherland in an east-west direction. Various historical estimates of the grade and tonnage of the properties of Sutherland and proximate areas were undertaken in the 1970s and 1980s. The Essex Minerals Company explored and drilled in the Waterval Farm area in the late 1970s, according to company information, according to Brinkley information.

Western Uranium owns the freehold on the Waterval Farm which encompasses two of the portions for which the South African DEM granted prospecting rights. The third is located on the Rietkull Farm property, for which Western Uranium has sole ownership rights.

The three portions of the Waterval Farm property comprise the entire 3,601 hectares for which it applied. For the Rietkull Farm property Western Uranium has been awarded prospecting rights over one of three portions, equivalent to 218 hectares of the 7,341 hectares for which it has applied.

With its Waterval and Rietkull prospecting rights confirmed Western Uranium intends to commence airborne reconnaissance, detailed geological mapping, re-sampling of previous drill holes and a new drilling programme at the earliest opportunity, according to a press release.

Said Gerard Holden, non-executive chairman of Brinkley Mining commented, “We are delighted to have completed the execution of these prospecting rights. We look forward to commencing exploration activities immediately for these prospects over which Western Uranium has exclusive access and ownership rights.”

Estimated Resources

SRK Consulting in the Competent Persons Report it prepared by and submitted on 31 May 2006 reported that the Waterval Farm has non-compliant historical mineral resources of between 39,000 and 50,590 tonnes of uranium and molybdenum mineralisation

[pago]

hi shasta,your question,anyone know of a u308 miner with south africa tenements,watch aex tommorrow,cheers pago,

[stolwyk]

$85 spot, according to 2 good H/C sources.


Gerry

[Skol]

I think you'll agree that it's no coincidence that before the tech wreck we had defunct mining companies re-inventing themselves as computer companies and now we have computer companies re-inventing themselves as uranium miners. For me this a contrarian signal but I've decided to hang in a little longer because bull markets always go on longer than you think they will.

Acoording to U308.biz new spot price should be released by midnight Wednesday US time. Doesn't say whether Pacific or EST.

[Skol]

Bang on, $85 it is.

www.news.com.au/adelaidenow/story/0,22606,21265424-913,00.html

[shasta]

Cheers Pago

Wow $85lb - that'll spark some more interest in the junior U308 explorers!

[spector]

quote:Originally posted by shasta

Cheers Pago

Wow $85lb - that'll spark some more interest in the junior U308 explorers!


Great runs across the board on all my uranium stocks today. Result!

[Seti]

More on the latest spot price...

Record Increase in Uranium Price (http://www.marketwire.com/mw/release_html_b1?release_id=218573)

VANCOUVER, BC -- (MARKET WIRE) -- February 22, 2007 --

Ux Consulting Company, LLC and TradeTech have increased U3O8 prices US$10 to a record US$85 per pound.

This US$85 spot price marks a new record for uranium confirming research analysts' predictions that mine production continues to fall short of demand, and that inventories being sold into the market reflect the supply-demand deficit.

According to Adam Schatzker of RBC Markets, investors can expect to see the price of uranium continue to rise throughout 2007 and predicts the average price will be US$100 per pound this year.

As of December 2006, there were 435 reactors currently in operation producing 368,246 Mwe of power. There are 28 reactors under construction, 64 planned and more than 158 have now been proposed globally with more added to the every month.

The 435 operating reactors require approximately 180 MMlbs of U3O8 equivalent. 110 MMlbs of U3O8 is supplied by primary production with the balance being made up from secondary sources including mixed oxide (MOX) fuel, national and utility held inventories (both strategic and commercial), Russian LEU exports, recycling programs, Tails assay adjustments, DOE sales and HEU.

Buyers are eager to stockpile supplies at fixed prices, while sellers view the uncertainty about remediation efforts by Cameco Corp. at its Cigar Lake uranium project as an opportunity to hold out for higher prices.

"Uranium is in a super bull cycle, fueled by supply shortfalls amid rising demand as the world increasingly turns to nuclear for clean, commercially viable, long term energy solutions. Today's increase in the spot price is a reflection of the uranium shortfall and provides investors with added confidence in the uranium sector," says Mr. Gomez.

[leonchai]

What will happen to uranium companies in a market wide correction/bear market, like what seems to be happening now?

I am a big believer in the uranium story, and I think that of all the sectors, it would be one of the most recession proof. However, do you think its wiser to hold cash now, rather than try to fight against the bearish sentiments that would affect all shares in a downturn?

I hold ags, smm

[shasta]

Leonchai

If you believe the U308 story then make the most of the "bargins" on offer, there are plenty out there.

I have seen my shares in URA & DYL drop plenty but am looking at topping up as funds allow, as i believe both, come the end of 2007 will do well.

Am not selling a single U308 share amongst the panic/market correction/traders over reacting!

I actually think Oil & Uranium will hold up in any market.

Disc: DYL,NZO,URA

DYOR

[Torrero]

the only thing to watch is the price of U308.....if it goes down, explorers will be no good, neither will half the big mines mines. The market, with U308 has priced int he fact that many of the big mines that BHP and the like control are extending the life of many of there mines because at current prices they can afford, and its profitable, this is because the threshold for %Uore per tonne is much lower due to $85/ pound

[Seti]

quote:Originally posted by Torrero

the only thing to watch is the price of U308.....if it goes down, explorers will be no good, neither will half the big mines mines. The market, with U308 has priced int he fact that many of the big mines that BHP and the like control are extending the life of many of there mines because at current prices they can afford, and its profitable, this is because the threshold for %Uore per tonne is much lower due to $85/ pound


Hard to see how the price can go down in the short term with current global demand being 180M lbs and only 110M being mined annually (short of a major arms decommissioning program by the US). Although demand is forecast to rise to 200M lbs during the next decade I believe the developments of Cigar Lake, the Olympic Dam expansion, the opening up of Australia's reserves and the myriad of other U projects around the world will stabilise the long term (non-inflation adjusted) price to well below $100lb.

[Skol]

Given that PDN has an asset base of around $13b and a market cap of $3.7b its probably a good punt around these prices.

http://gold.seekingalpha.com/article/28686

[stolwyk]

Audio:

http://www.howestreet.com/goldradio/index.php/mediaplayer?audio_id=543

[Harry7]

There's an article page 6 of yesterday's (Monday 5th March) AFR/Aust Financial Review about nuclear power in Australia. It mentions a growing opposition to new uranium mines from the Labor party's left. The Victorian state Labor conference was held last weekend and the report indicates 'many' delegates supported a motion opposing Ur mining (Bill Shorten referred the motion to the national conf. in April, so there was no outcome/vote taken)

I'm just getting a little nervous.....Rudd, Gillard (she's with the left), Shorten etc support new Ur mines. Does anyone know if any preliminary numbers have been taken on this issue, for/against numbers at this stage? Is there a web link anyone knows of to Labor I can research that deals with this specific topic in more detail?

[Seneca]

I don't know of any advance inside guide on how the vote will go, however I have followed this debate for over 2 years - back in 2005 Labor said their policy was in concrete - no more mines - they now don't argue about new mines -its a given that the policy will change except on the extreme left and as shown in Victoria on the w/e they are not given a voice - Labor says that Australia will not have nuclear power but Rudd would lose all economic credibilty if the party didn't support him on allowing new mines.I used to think that I would not hold uranium shares leading up to this vote but I now think its a done deal - Shorten didn't just refer the matter to the National conference - he shut the extreme left down - and of course with the climate change debate the left are not as united against uranium as once they were.

[Seti]

From my limited knowledge of politics it is seldom that the leader of a party publicly nails their colours to the mast in respect of policy and doesn’t do the ‘numbers’ to ensure the odds are in his/her favour of having that policy of policy change implemented. And with possibly only a few months to go before a federal election the party would want to display a united front going forward rather than an uncomfortable and still fresh in voter’s minds, spectacle of Labor rebuking the leader and deputy leader, which would in effect be a vote of no confidence. Certainly the opposition would pounce on such a decision to portray Labor as anti-jobs and anti-exports as well as dragging their feet on global warming.

I hope as the ALP conference nears that those of who have an interest in the U industry or those who believe that nuclear energy can mitigate climate change will lobby Labor MPs on the issue.

By-the-way, can someone enlighten me as to the procedure for changing ALP policy. Is it a party membership vote or is it decided by the caucus?

[Seti]

Weekly Spot Uranium Price Indicator Raised to US$90/Pound (http://www.stockinterview.com/News/03112007/Uranium-Spot-Price-ERA.html)

ERA ‘Force Majeure’ Stuns Nuclear Utility Community

Flooding at Energy Resources of Australia’s (ERA) Ranger operation in Australia’s Northern Territory led to the company’s announcement of a force majeure. “Even before this Wednesday’s announcement, there were indications that the market price had risen,” wrote Editor Treva Klingbiel in the March 9th edition of Nuclear Market Review. According to the nuclear utility industry trade magazine, bids were increased to purchase U3O8 equivalent at a higher price than the previous record of US$85/pound.

As a result of the increased response to a higher uranium price, industry consulting service TradeTech raised its weekly spot price indicator to US$90/pound. Nuclear Market Review (NMR) reported ERA’s force majeure on uranium sales contracts had ‘stunned the market.’

Nine buyers are actively seeking four million pounds U3O8 equivalent in the spot market, of which about half typically prefer fixed-price offers and are characterized as discretionary buyers. However, NMR warned, “Any upcoming new demand from ERA or its customers would be in the ‘must-have’ category.”

Long-term market demand remains strong and is “strengthening even further,” according to Klingbiel. She forecast several utilities would enter the market to secure long-term uranium supply in the coming weeks. Nineteen utilities are either seeking, or evaluating offers for, more than 55 million pounds of U3O8 equivalent.

The big news story is uranium mining company ERA’s potential loss of as much as four million pounds, compared to 2007 expectations. TradeTech’s Nuclear Market Review asked, “How can this lost production be reasonably accommodated?” Active demand for U3O8 equivalent overwhelms active supply by 220 percent. TradeTech defines active supply as ‘uranium that could be offered for sale in the coming month’ and active demand to include those ‘currently seeking uranium in the market.’

Klingbiel warned, “Doubling the active demand from the addition of ERA’s customers would obviously have an impact on uranium prices.” The magazine reported, “It seems clear the market is rapidly headed to the triple-digit level.” An evident conclusion was also asserted in this week’s magazine, “The uranium market must learn to deal for a while with the uncertainty of production schedules for Ranger.”

TradeTech’s Nuclear Market Review reports the weekly uranium price indicator to nuclear utilities and institutions each Friday. Changes in the weekly spot uranium price indicator are later posted on the consulting services website at http://www.uranium.info

[trackers]

Heritage Gold's getting in on the act (HTM:ASX)

FOR PUBLIC RELEASE
HERITAGE EMBARKS UPON URANIUM EXPLORATION INITIATIVE IN THE NORTHERN TERRITORY
Heritage Gold has signed a binding Heads of Agreement (subject to due diligence) in relation to an offer to
enter a joint venture to explore for uranium in the Dunmarra Basin of the Northern Territory.
Under the Agreement, Heritage Gold will pay A$10,000 to the licence applicants before the end of the 30 day
due diligence period and will have the right to earn up to 50% interest in the tenements by the expenditure of
A$2M over three years from granting of the licences. Heritage may increase its interest to 75% upon the
expenditure of an additional A$2m, depending on the election of the vendors to contribute or dilute.
The tenement numbers are Exploration Licence Application (ELA) 25871 covering 377sqkm, ELA 25872
covering 460sqkm, and ELA 25921 covering 419sqkm. The licence areas are considered prospective for
sandstone-hosted and roll front uranium mineralisation.
Upon satisfactory completion of the due diligence, Heritage Gold will issue 2.5M fully paid ordinary shares to the
vendors immediately, and a further 2.5M fully paid ordinary shares on granting of the licences. The minimum
expenditure commitment of the Company is A$100,000.
A placement of shares is planned to sophisticated and professional investors to fund the investigation of the
uranium proposal, advance further exploration on Heritage Gold’s current projects, and for working capital.
The Company is seeking to place up to 20M shares at a price of A3.5 cents for each fully paid ordinary share.
The first tranche of 8.5M shares in the placement will be issued under ASX Listing Rule 7.1, NZX Listing Rule
7.3.1, and NSX Listing Rule 6.25. The second tranche of 8.5M shares will be issued subject to shareholder
approval, and a meeting will be called for that purpose.
The placement will be managed by Montagu Stockbrokers of Perth for a fee of 5% of funds raised.
For further information please contact:
Peter Atkinson
Managing Director
09 303 1893
021 630 463
__________________________________________________ _______________________________________
About Heritage Gold
Heritage listed on NZX in 1986 and has a current market capitalisation of approximately $9 million. Heritage is
also listed on the ASX and the National Stock Exchange of Australia (formerly Newcastle Stock Exchange). The
company has valuable gold interests in the Waihi district of New Zealand, where it is a major tenement holder.
Heritage also owns 33% of Broken Hill Cobalt Ltd in Australia and has applied for permits to prospect for gold,
silver, copper, and base metals in Northland, about 150km north of Auckland.

[stolwyk]

Uranium to Fuel Chinese Economic Advance

http://www.uranium-stocks.net/uranium-to-fuel-chinese-economic-advance/

[Seti]

All Eyes On Next Week For Uranium Watchers (http://www.fnarena.com/index2.cfm?type=dsp_newsitem&n=67D93716-17A4-1130-F5A62ADD78BC02BF)

[stolwyk]

Cameco says Cigar Lake production delayed until 2010
Canadian Press

SASKATOON — Uranium miner Cameco Corp. said its Cigar Lake mining project will cost more and begin production later than it had anticipated because of massive flooding at the site last year.

Cameco said it aims to bring the mine into production by 2010. The original target date was 2008.

The Saskatoon-based company also said the capital costs related to Cigar Lake's production startup have risen to $508-million from the last estimate of $330-million. Cameco has already spent $234-million on construction so far, with another $274-million remaining.

But despite the increased capital costs, Cameco insists Cigar Lake, in northern Saskatchewan, remains a financially attractive project.

“While this extraordinary deposit presents its challenges, Cigar Lake will be developed and will enable Cameco to significantly increase its uranium production for years to come,” said Jerry Grandey, Cameco's president and CEO.

In addition to the capital costs, Cameco said its share of flood remediation is estimated at $46-million and will be expensed in the year they occur. The company spent and expensed $5-million of that amount in 2006.

Cameco said it will file a technical report on the mine's progress to the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) by the end of the month.

The flooding at Cigar Lake sent uranium prices soaring in 2006.

Last April, water flooded a shaft at Cigar Lake used mainly for underground ventilation. Then in October, two massive bulkheads failed to hold back water from a flood after a rock slide in a shaft about a half-kilometre underground, flooding the entire mine.

Last month, Cameco said two rigs on site had drilled eight of the 14 holes planned for reinforcing and sealing off the flooded area.

In 2006, Cameco saw its earnings fall by more than half that of the previous year. But its 2007 outlook remains rosy. It says its revenue from its uranium business is forecast to grow by 45 per cent and its fuel services business will be 20 per cent higher than that of 2006.

http://www.theglobeandmail.com/servlet/story/RTGAM.20070319.wcameco0319/BNStory/Business/home

[stolwyk]

Russia to increase uranium reserves
By Todd Flagg
16 Mar 2007 at 05:18 PM

As the demand for electriciy grows faster than production, Russia is expected to increase atomic power output and increase uranium reserves by a quarter, threatening to curb a nine-year economic boom, reports indicated.
"The need to diversify our fuel-energy balance is obvious,” Deputy Prime Minister Sergei Ivanov said. "In the foreseeable future, Russia will take third place in the world in terms of uranium resources, which will be about 1 million tons.”

Russia plans to spend 674 billion rubles ($26 billion) in the next eight years to develop its nuclear industry, he said. The former Soviet state now has about 800,000 tons of uranium resources, lagging behind Australia and its 1.14 million tons and Kazakhstan, which has 1.13 million tons.

http://www.resourceinvestor.com/pebble.asp?relid=29914

[tricha]

Stolwyk has already posted this. I just thought I would re-enforce some very important key points here,

In other words China can run on oil for two days, or uranium for a whole year, at the same fuel cost.Uranium to Fuel Chinese Economic Advance

By Bob Kirtley
March 12, 2007

www.uranium-stocks.net

http://www.kitco.com/ind/Kirtley/mar122007.html



The rapidly growing economy in China is causing more that just ripples across the economic, financial and business community. Its is growing at an alarming rate and shows no signs of slowing down as it's GDP has been growing at 8% per year since 1978. However the question arises, how is this rapidly growing economy going to get the power to maintain this level of growth or simply to sustain current levels?

Although China does have a great deal of coal reserves, nuclear power is a cleaner more efficient way of producing energy. The Chinese government has already announced that they will be building a number of nuclear power stations but these estimates are a drop in the ocean compared to what China requires. The Chinese are savvy enough not to announce how many they actually need, as this would send uranium prices sky high.

So let us consider how much it would cost for China to get its electricity from nuclear power. Electricity consumption in China is approximately 2.494 trillion kWh. The cost of energy from nuclear power is around 1.68 cents per kWh. This is inclusive of the cost of fuel as well as operating and maintenance costs. Therefore to supply all of China's electricity needs for one year by nuclear energy would cost nearly $42 billion. (2.494 trillion kWh x 1.68 cents / kWh = 4189920000000 cents = $41,899,200,000.00) Although at a glance this may seem like a large figure, it is relatively very low considering the cost of running on other fuels and the fact that China has $1 trillion in US Dollar reserves.

Uranium is used in nuclear power plants in pellets. Typically a pellet of uranium weighs around 7 grams (0.24 ounces). This pellet is capable of generating as much energy as 3.5 barrels of oil, 17,000 cubic feet of natural gas, or 1,780 pounds of coal. Therefore if you compare uranium with oil in terms of energy produced, 3.5 barrels costs about $210 assuming $60 per barrel. For Uranium, it costs around $1.125 to buy 0.24 ounces of uranium at the current price of $75/lb. This is a vast difference in cost and shows how cheap uranium is at current prices.




Yet even with this vast difference in cost, China continues to use oil at a rate of 6.534 million bbl/day. However China has seen that nuclear power is the far better option to supply its energy needs and they have started to switch fuels from oil to uranium. I will try to demonstrate the benefits to China of changing from primarily oil powered to nuclear.

If China was to replace its 6.534 million bbl/day oil consumption with energy from nuclear power they would need about 13,068,000 grams of uranium, around 28,810 pounds. So 28,810 pounds of uranium per day to replace oil would see China using 10,515,650 lb per year. Using the current uranium price of $75/lb that would cost China about $788,673,750 per year. The same cost in oil would be $392,040,000 a day at $60 per barrel, that's $143,094,600,000 a year.



In other words China can run on oil for two days, or uranium for a whole year, at the same fuel cost.

This is why China is moving away from oil and towards nuclear power. It makes sense for China to stop using oil and change to uranium. Of course they could still use fuels like coal, which they have great supplies of, but oil is simply too expensive, not only in terms of money, but also in terms of risk. Oil comes with great geopolitical risk with problems in the Middle East and in oil rich countries like Sudan

[shasta]

Article from theage.com.au website

Evans joins ALP pro-uranium push
Email Print Normal font Large font March 23, 2007 - 9:54AM

Labor resources spokesman Chris Evans has joined a growing list of senior party officials publicly supporting the dumping of Labor's long-held no new uranium mines policy.

Senator Evans, who admits he marched against the nuclear industry as a youth, said that campaign had failed and Labor's policy should be abandoned.

"I marched like the people of my generation. We saw the link with nuclear war at the time and that was a really hot topic," he told ABC radio.

"We feared that the world might end, so this was important stuff.

"(But) clearly the world's changed and the Labor Party has got to change with it."

He joins party leader Kevin Rudd and deputy Julia Gillard among those giving support for a policy change at next month's ALP national conference.

Senator Evans said his support for a policy change, in the face of greatly expanded interest in uranium mining in Australia, did not extend to supporting nuclear energy for Australia.

"We don't need to go down the nuclear path, and Labor won't," he said.

"The real energy challenge for Australia is the greenhouse gas problem.

"That's where I want to focus our energy debate, not on some arcane argument about whether we have three, four or five uranium mines."

A Labor opponent of a policy change, frontbencher Anthony Albanese, said old problems with uranium remained.

"I regard myself as a principled but pragmatic politician and I have a pragmatic attitude towards the nuclear fuel cycle, which is that the problems of economic cost, of safety, of disposal, of highly toxic nuclear waste and perhaps most significantly, nuclear proliferation, have not been resolved," he said.

"If they have been resolved, let's have a discussion.

"But those problems remain outstanding and the advocates of further expanding our involvement in the nuclear fuel cycle need to address those issues."

© 2007 AAP

[Seti]

The inexorable rise in the U price continues...

Spot Uranium Price Increases to US$95/pound (http://www.fastpitchnetworking.com/pressrelease.cfm?PRID=7239)

[shane_m]

mate NRU.AX uranium ann coming in 2 weeks from now, currently sitting at 30c, at least 40c in couple of weeks....

[shane_m]

mate this is a great article,

Is there Value Left in the uranium sector?

http://www.fnarena.com/index2.cfm?type=dsp_newsitem&n=8D0A3A21-17A4-1130-F5A1EBA8B69E67D4

[Skol]

Yeah, it's a bit of a worry when IT companies suddenly become u308 companies, the opposite of what happened leading up to the tech wreck. It's a sure bet that many of these uranium start-ups won't see one ounce of uranium and the shareholders will be left with the wreckage. I've lightened up on the spec companies for that reason and stuck with PDN of late.

To hedge my bets a bit I own GCL and MCC but if you check out CEY as well you'll see that all the above coal shares are moving up nicely.