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New Nuclear Plants Are On Their Way, With Federal Help
BY REINHARDT KRAUSE AND SEAN HIGGINS
INVESTOR'S BUSINESS DAILY
Posted 6/20/2008
With $18.5 billion up for grabs, the Energy Department's loan guarantee program is expected to restart building nuclear plants in the U.S. after a three-decade hiatus.
However, the nuclear industry's resurgence could be short-lived.
The $18.5 billion may be enough to partially fund only three or four nuclear plants, analysts say. About a dozen proposals are expected to vie for the financing. The DOE will begin the review process later this summer.
The Nuclear Regulatory Commission expects up to 21 applications by year-end to build 32 reactors.
The presidential election may be key to nuclear's revival. Democrat Barack Obama isn't likely to support extending loan guarantees. Republican John McCain wants 45 new nuclear reactors by 2030.
With banks short of capital, the availability of low-interest rate government credit is vital to large-scale projects like nuclear plants.
They take 4-5 years to build — though the approval process can be far longer — and cost billions of dollars each. Costs vary depending on how much electricity the power plants generate.
"The range seems to be between $6 billion or $7 billion to $10 billion to build one plant," said Robert Hornick, a senior director at credit rater Fitch. "So you can see how the federal loan guarantee program, with $18.5 billion, doesn't get you too far."
Others put the per-plant cost at $5 billion to $8 billion.
The Energy Policy Act of 2005 authorized loan guarantees for several technologies, including coal, solar, wind and nuclear. Congress has authorized $42.5 billion for loans — $18.5 billion for nuclear.
Presidential Divide
There is an assumption that the government will offer more loan guarantees, Hornick says.
Not so fast, says Jason Grumen, chief energy policy adviser to the Obama campaign.
"(Obama) believes that the loan guarantees in the current act were substantial and sufficient," Grumen said. "He is eager to make sure that the (DOE) acts efficiently to move forward with those loan guarantees but he believes that nuclear power has received more than fair treatment in recent legislation."
Loan guarantees cover up to 80% of construction costs. Utilities, some of which have formed consortiums, are expected to provide 20% in equity. The Treasury may directly finance certain projects.
"I don't expect that projects backed by federal loan guarantees will have any trouble when they come to market in 2010 or 2011," said Richard Myers, vice president for policy development at the Nuclear Energy Institute, the industry's trade group.
Because of the hefty investments needed to build nuclear plants, the industry may see big changes, says Glenn George, vice president at NERA economic consulting.
"There may be consolidation at the company level, more consortia or pooling among developers, or market entry by some of Europe's bigger utilities or by well-capitalized players that haven't been in the generation business — the oil majors or somebody else," he said.
Utilities Unite
Many utilities are indeed joining forces to line up financing.
UniStar Nuclear Energy is a joint venture between Constellation Energy (CEG) and EDF, a French energy giant that operates more than 50 nuclear reactors. A handful of U.S. utilities have joined UniStar, which plans to use nuclear technology from France-based Areva.
Nine U.S. utilities are in NuStart Energy, including Entergy, (ETR) Duke, (DUK) Exelon, (EXC) Progress Energy, (PGN) SCANA (SCG) and Southern Co. (SO) The group favors nuclear tech from GE and Westinghouse, owned by Japan's Toshiba.
Seeking to widen its U.S. business, Toshiba has invested in NRG Energy's (NRG) planned two nuclear plants.
DOE must award loan guarantees by 2009. They're contingent on utilities getting build and operate licenses from the Nuclear Regulatory Commission. The NRC is reviewing applications for 15 reactors from consortiums or utilities.
New nuclear power plants aren't expected to produce electricity until 2013 or 2014, at the earliest.
One utility seems ready to plow ahead without federal guarantees. SCANA's South Carolina Electric & Gas said in May it would build two nuclear plants for $9.8 billion.
Federal financing gets the most attention, but the 2005 energy act also offers up to $125 million in annual tax credits for nuclear plants' first eight years of operation.
That's key to attracting investors, says Robert Michaels, economics professor at California State University, Fullerton.
He adds, "It's becoming very difficult to site the most logical alternative, which is coal-fired plants."
Many nations plan to expand nuclear power, viewed as a clean, carbon-free electricity source, despite waste disposal concerns. Nuclear reactors are more costly to build than coal- or gas-fired plants. But operating costs are far lower.
McCain has been a long-time supporter of nuclear power. He says it provides about 20% of U.S. electricity, despite a halt in building.
"In Europe and elsewhere, they have been expanding their use of nuclear energy," McCain said in a June 17 speech. "But we've waited so long that we've lost our domestic capability to even build these power plants. Nuclear power is among the surest ways to gain a clean, abundant and stable energy supply, as other nations understand. If they have the vision to set and carry out great goals in energy policy, then why don't we?"
Market Pulse Announces Its Hot Stock Alerts for Wednesday, June 4, 2008: BCFT, ORCL, CPTC, INTC
ATLANTA, GA , to the investment community! Bancroft Uranium Inc. is new to Market Pulse and is poised to become a significant player in the uranium industry! Bancroft Uranium just had excellent news out in a press release before today's opening bell announcing further drilling results from the spring 2008 surface drill program conducted at the Monmouth Uranium Project, near Bancroft, Ontario! Bancroft Uranium said it will release a third series of drill results shortly and so far initial assay results appear to validate the historical data! This could be great news for investors! Other notable stocks that should be closely watched due to existing fundamental and technical factors affecting each company include:
http://smallcapvoice.com/bcft/bcft-5-29-08.php
CEO interviewed.
What do you mean, that its crap? Or that its good news. I don't know what you mean by mega pump.
it looks like a mega pump to me
What are your thoughts, Cap'm Crunch?
Bancroft Uranium Inc (otcbb: BCFT)
RAiDAR alerts Learn More About RAiDAR-LT
05/29/2008 (09:15 ET) Market Pulse Announces Its Hot Stock Alerts for Thursday, May 29, 2008: BCFT, QCOM, UOMO, AMGN - Market Wire
05/29/2008 (09:00 ET) Stocks to Watch for Thursday, May 29, 2008: BCFT - Bancroft Uranium Reports Positive Initial Drilling Results at Historic Monmouth Uranium Project! - Market Wire
05/29/2008 (08:30 ET) Market Pulse Breaking News Alert for Thursday, May 29, 2008: BCFT - Bancroft Uranium Reports Positive Initial Drilling Results at Historic Monmouth Uranium Project! - Market Wire
05/29/2008 (08:16 ET) BCFT: Filed New Form S-1/A, Basic Registration Statement - Edgar
05/29/2008 (06:09 ET) GrowthStockResearch.com: Thursday's StockWatch: (OTC BB: BCFT), (OTC BB:NFSE) , (AMEX: FRG), (OTC BB: XDRC), (NYSE: USU) - M2 Communications
05/29/2008 (05:14 ET) SmallCapStockAnalyst.com: (OTC BB: BCFT) Monmouth Uranium Project Drilling Results - M2 Communications
05/29/2008 (05:13 ET) SmallCapStockAnalyst.com: (OTC BB: BCFT) Monmouth Uranium Project Drilling Results - M2 Communications
05/29/2008 (04:28 ET) GrowthStockResearch.com: Bancroft Uranium Initial Drilling Results, Monmouth Uranium Project - M2 Communications
05/29/2008 (04:00 ET) SmallCapStockAnalyst.com: Breaking News - Bancroft Uranium (OTC BB: BCFT) Releases Drilling Results - M2 Communications
05/29/2008 (02:15 ET) Bancroft Uranium Initial Drilling Results, Monmouth Uranium Project - Market Wire
05/28/2008 (12:00 ET) BCFT: Volume Spike; 58% > 20-adsv, Stock +4.35% - Knobias
05/28/2008 (09:38 ET) Wall Street News Alert: Breaking News Alert - BCFT! May 28, 2008 - Market Wire
05/28/2008 (09:10 ET) Stock on the Move for Wednesday: BCFT! May 28, 2008 - Market Wire
05/28/2008 (08:38 ET) Wall Street News Alert Issues Special Alert on BCFT! May 28, 2008 - Market Wire
05/28/2008 (08:10 ET) GrowthStockResearch.com: Spotlight Stocks: (OTC BB: BCFT), (NYSE:PDE) , (OTC BB:EMCF) , (OTC BB:ZAAP), (OTC BB:EBOF) - M2 Communications
05/28/2008 (07:30 ET) SmallCapStockAlert.com: Featured Stock: Bancroft Uranium Inc.(OTC BB: BCFT) - M2 Communications
05/28/2008 (06:09 ET) GrowthStockResearch.com: Hot Stocks to Watch: (OTC BB: BCFT), (OTC BB:TPLM) , (OTC BB: JYTO), (Nasdaq:QTWW) , (OTC BB:DLKM) - M2 Communications
05/28/2008 (05:08 ET) SmallCapStockAnalyst.com: Bancroft Uranium Inc. (OTC BB: BCFT) to Develop develop Uranium Assets in North America - M2 Communications
05/27/2008 (12:00 ET) BCFT: Volume Spike; 33% > 20-adsv, Stock +10.59% - Knobias
05/27/2008 (10:46 ET) Businessnetwire.us: Stocks in the News: IMGR, PRVH, KDKN, BCFT - M2 Communications
05/27/2008 (06:08 ET) GrowthStockResearch.com: Spotlight on Bancroft Uranium Inc (OTC BB: BCFT) - M2 Communications
05/27/2008 (05:08 ET) SmallCapStockAnalyst.com: Hot Stock List for Tuesday, May 27 - M2 Communications
05/27/2008 (04:27 ET) GrowthStockResearch.com: Stocks on the Move: (OTC BB: BCFT), (OTC BB: BOKO.OB), (OTC BB:NMKT) , (AMEX:URZ) , (OTC BB:NCTW) - M2 Communications
05/27/2008 (03:17 ET) SmallCapStockAnalyst.com: Breaking News Alert for Bancroft Uranium Inc (OTC BB: BCFT) - M2 Communications
05/27/2008 (02:30 ET) Bancroft Uranium Informed That Analyst Reports Market Capitalization Could Approach $90 to $92 Million or $2.00 per Share - Market Wire
SECURITY ADDITIONS
DL Date Symbol Company Name Effective Date OATS Reportable Flag Comments
8/4/2006 CSCS Conscious Intention, Inc. Common Stock 8/7/2006
7/9/2007 CSCS Conscious Intention, Inc. Common Stock 7/10/2007 From NBB (CSCS)**
SECURITY DELETIONS
Dl Date Symbol Company Name Effective Date/Comments
7/9/2007 CSCS Conscious Intention, Inc. Common Stock 7/10/2007 Added to OTCBB (CSCS)**
NAME/SYMBOL CHANGES
DL Date Date Old Symbol/Name New Symbol/Name
9/28/2007 10/1/2007 CSCS Conscious Intention, Inc. Common Stock BCFT Bancroft Uranium Inc. Common Stock
http://www.otcbb.com/asp/dailylist_search.asp?SearchSymbolForm=TRUE&OTCBB=ALL&searchby=symbol&searchfor=cscs&searchwith=Starting
NAME/SYMBOL CHANGES
Updated Date Old Symbol Old Name New Symbol New Name Comment
17:40 10/1/2007 CSCS Conscious Intention, Inc. Common Stock BCFT Bancroft Uranium Inc. Common Stock 52-1 F/S; Payable upon Surrender of Certificates **
http://www.otcbb.com/asp/dailylist_detail.asp?mkt_ctg=ALL&d=09/28/2007
Market Pulse Breaking News Alert for Thursday, May 29, 2008: BCFT - Bancroft Uranium Reports Positive Initial Drilling Results at Historic Monmouth Uranium Project!
Market Pulse News Alert for this AM, Stocks to Watch are: Bancroft Uranium Inc. (OTCBB: BCFT), Beacon Power Corporation (NASDAQ: BCON), Akeena Solar Inc. (NASDAQ: AKNS) and Voyant International Corporation (OTCBB: VOYT).
Investors need to be watching Bancroft Uranium Inc. (OTCBB: BCFT) this AM! Bancroft Uranium is an emerging mining company focused on the exploration and development of previously identified, historically significant, yet undeveloped known uranium properties. Bancroft controls an extensive regional play totaling over 9,000 acres of mineral claims in Ontario, Canada that are prospective for uranium. 2,700 acres are currently under lease and being explored at the Monmouth Project (two hours north of Toronto). The Monmouth Uranium Project is envisioned to have the potential of a low cost, open pit uranium producer located close to infrastructure and end product buyers. Uranium was discovered at this prospect in the early 1950s when prices were less than $10.00 per pound. The Bancroft area is well known for its long history in uranium mining, having produced a total of 14,862,653 lbs U3O8 between 1956 and 1982 from four local mines. In 1968, an engineering report by S.W. Evans was filed as a listing prospectus to the Toronto Stock Exchange for Northern Nuclear, the owner at that time. The report estimated from drill results the potential of 2 million tons containing 0.045% (0.9 pounds per ton) or 1,800,000 pounds of U3O8. Bancroft commenced a 2008 surface diamond drilling program on February 25th that was designed to drill in areas that returned historic drill results from the 1968 program. Once the drill program is complete, engineers will undertake a geological report which will ultimately lead to a uranium resource calculation of the in-situ tons and contained pounds of uranium. The company has also begun early stage efforts in the Long Lac area and the prolific Elliot Lake Uranium camp. Recent unprecedented rises in the price of Uranium have been over $90 per pound recently with extraordinary fluctuations exceeding $135/lb. These prices reflect a 1000% increase over the past 7 years -- with most of these gains occurring within the past 2 years. Currently, 439 active reactors, 34 new power reactors are under construction and 304 plants are on order/planned or proposed. Existing global supply does not meet current demand thereby creating significant opportunities for long-term growth. The company is led by a highly skilled and experienced board with noteworthy success in managing mineral exploration projects from early stage to production. Bancroft Uranium is poised to become a significant player in the uranium industry! Bancroft Uranium just had excellent news out in a press release before today's opening bell announcing the first drilling results from the spring 2008 surface drill program being conducted at the Monmouth Uranium Project, near Bancroft, Ontario! Bancroft Uranium also said initial assays returned from the pegmatitic rocks are better than expected based on the historical work! Investors should be watching this one closely!
Bancroft Uranium Inc. (OTCBB: BCFT) is pleased to announce the first drilling results from the Spring 2008 surface drill program being conducted at the Monmouth Uranium Project, near Bancroft, Ontario. Noteworthy assay results from the first 13 holes are outlined below.
The 2008 Exploration Phase 1 drill program commenced on February 25th and was designed to focus on areas in and around the historical drill results from the 1969 program bringing it into modern N.I. Policy 43-101 compliance, a recognized world mining standard. The drilling is also designed extend the known strike length of the skarn which hosts the uranium mineralization with the aim of expanding the current estimated 1,800,000 lbs U3O8 potential at Monmouth.
Initial drill assays and intervals are from holes drilled from the most southwesterly exposure of the host rock skarn (altered limestone) and are spaced approximately 100 feet apart. Significant results are as follows. Assays are noted as lb representing lbs/ton U3O8 over feet:
08-1 0.803 lb/12.5' from 55.3 to 67.8 feet in skarn, 0.344 lb/30.5'
from 182.1 to 212.6 feet in pegmatite and 0.805 lb/13.8' from
276.2 to 290.0 feet in skarn including 1.02 lb/9.3' from
280.7-290.0 feet. Visible uraninite was noted
08-5 0.139 lb/34.8' from 235.6 to 270.4 feet in pegmatite
08-6 0.466 lb/10.0' from 16.0 to 26.0 feet in pegmatite
08-7 0.291 lb/7.9' from 44.0 to 51.9 feet in skarn with visible
uraninite
08-8 0.540 lb/60.6' from 15.0 to 75.6 feet in skarn
08-9 0.596 lb/51.9' from 31.0 to 82.9 feet including 0.315 lb/14.9'
from 31.0 to 45.9 feet and 0.923 lb/24.5' from 51.0 to 82.9 feet
with visible uraninite, molybdenum
08-10 0.740 lb/52.2' from 12.8 to 65.0 feet including: 0.915 lb/32.0'
from 12.8 to 44.8 feet and 0.616 lb/15.0' from 50.0 to 65.0 feet
in skarn with visible uraninite
08-12 0.513 lb/49.9' from 6.3 to 56.2 feet in skarn with visible
uraninite noted
08-13A 0.332 lb/25.1' from 9.3 to 34.4 feet with visible uraninite noted
The above holes represent testing across the initial 300 feet of historical strike length which totals 1,500 feet. Early results have verified the location, thickness and flat lying geometry of uranium bearing skarn system intersected in the historical drilling. U3O8 assays have been returned from both uraninite bearing bright orange colored calcite alteration in the skarn and from several pegmatite bodies in and adjacent to the skarn package. Initial assay results from the skarn rocks appear to validate the historical data. As drill holes progress through the central portion of the deposit, the historical intersected thicknesses of the uranium bearing skarn appear to increase as do grades based on limited assay data. Initial assays returned from the pegmatitic rocks are better than expected based on the historical work.
The geological modeling of the deposit is now coming into focus with the alteration zone rock package dipping at a fairly consistent 25-30 degrees, amenable to a potential open pit scenario.
All of Bancroft Uranium's exploration programs are designed and supervised by Qualified Persons ("QP") under the N.I. Policy 43-101, who ensure that programs are carried out using current industry "Best Practices." The spring 2008 drilling program was supervised by Murray McGill P.Geo (QP). The NQ size core was logged by Mr. McGill and split on site. Half core samples were analyzed using standard Delayed Neutron Counting (DNC) methods by Activation Laboratories in Ancaster, Ontario. Activation Laboratories employs rigorous in house QA/QC procedures in the DNC process.
Bancroft will release a second batch of drill results shortly.
For inquiries from the public and media concerning the Monmouth Uranium Project please contact Greenspirit Strategies at 1-877-54 GREEN or 1-877-544-7336. For shareholder and investor information please contact investor relations at 1-866-860-2995.
About Bancroft Uranium Inc.
Bancroft Uranium Inc. is an exploration company which intends to develop Uranium assets in North America. Bancroft's initial asset, the Monmouth Uranium Project is envisioned to have the potential of a low cost, open pit uranium producer located close to infrastructure and end product buyers. To find out more about Bancroft Uranium Inc., visit the website at www.bancrofturanium.com.
Stocks in the news and acting well as of late include: Beacon Power Corporation (NASDAQ: BCON), Akeena Solar Inc. (NASDAQ: AKNS) and Voyant International Corporation (OTCBB: VOYT).
Information contained herein is the opinion of Market-Pulse.com ("MP") and is intended to be used strictly for informational purposes. You should be aware that MP attempts to assure itself of the accuracy of the information contained in the analyses it publishes. In this regard, MP does, at times, rely on the accuracy of information supplied to it by the companies which are the subject of MP's analyses and/or parties related to those companies. MP also relies on the accuracy and integrity of information that is contained in company press releases and reports filed with the SEC. The companies mentioned in this publication have not approved the content or timing of the information being published unless otherwise noted.
MP, because it relies on information supplied by various third parties disclaims any responsibility for the accuracy of such information. Any investor considering making an investment in any security which has been the subject of a MP analysis or opinion should, before making any such investment, consult with his/her market professional and/or do his/her own independent research regarding the company which is the subject of an MP opinion, recommendation or analysis. Information regarding companies which MP has opined upon is normally available from many sources including the subject company's filings with the SEC and various press releases issued by the company.
You should be aware that MP is often compensated for issuing analyses, recommendations or opinions concerning particular companies. Its opinion is therefore not unbiased and you should consider this factor when evaluating MP's statements regarding a company. MP has been compensated seventy five thousand dollars from a third party for its coverage of Bancroft Uranium Inc. MP's officers and directors reserve the right to buy additional shares of the companies discussed in this opinion and may profit in the event those shares rise in value. When MP receives shares as compensation for a profiled company, MP may sell part or all of any such shares during the period in which MP is performing such services. Market-Pulse.com and Market Pulse Breaking News Alert are owned by Market Pulse LLC.
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This doesn't sound too good, however this did occur before some positive drilling results.:
"On October, 3, 2007, the Issuer purchased 100% of the issued and outstanding stock of a private Canadian Corporation, 2146281 Ontario Limited pursuant to the Stock Purchase Agreement dated September 14, 2007, a copy of which was filed with the SEC on Form 8K on September 14, 2007 and is incorporated herein by reference. Referenced in that Agreement was a private share sale by former President and CEO and current director Andrew Hamilton to current President and CEO and director P. Leslie Hammond of 23,972,000 of his 24,232,000 shares in the Company, leaving Mr. Hamilton with 260,000 shares and causing a change of control. Mr. Hammond paid $30,000 for the shares in the form of a full recourse promissory note due in 12 months at 5% interest."
I caught wind of this stock recently. I personally believe that gold, silver, and uranium are the hot commodities of the coming decade. I do not yet hold a stake in Bancroft, but I will be looking into it. If anyone has any information on Bancroft, please share?
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