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Thread: U3O8 Uranium.

  1. #421
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    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
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  2. #422
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    Good link Gerry - thanks
    ,
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  3. #423
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    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

  4. #424
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    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

  5. #425
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    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
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  6. #426
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    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.

  7. #427
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    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

  8. #428
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    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
    He who lives by the crystal ball soon learns to eat ground glass. (Edgar Fiedler)

  9. #429
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    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

  10. #430
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    Thanks Ticha for the informative article. Spot on advice for what will be an excellent investment year for quality Ur stocks

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