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NORTHWESTERN MINERAL
Northwestern confirms higher-grade uranium mineralization on Niger properties; submits over-limit samples for re-analysis
4/30/2007
TORONTO, April 30, 2007 /PRNewswire-FirstCall via COMTEX News Network/ --
Northwestern Mineral Ventures Inc. (TSXV: NWT; OTCBB: NWTMF) is pleased to announce additional assay results from rock samples collected during a first-pass reconnaissance exploration of airborne anomalies on its 100%-owned In Gall and Irhazer uranium properties in Niger. Findings reveal the highest levels of uranium mineralization discovered on the properties to date, with values of up to 0.18% U(3)O8. In addition, several samples exceeded the 0.24% U(3)O(8) detection limit in tests that are commonly used to analyze samples from Niger. The above-limit samples have been scheduled for further analysis using a technique that can accurately measure higher uranium values.
"The initial rock sample results, which we reported in early March, confirmed uranium mineralization in one highly prospective area. These new findings include even greater uranium values from a new discovery zone that is situated 4.0 miles (6.3 kilometers) east of the original area of mineralization," said Marek J. Kreczmer, President and CEO of Northwestern. "Based on results to date, we believe that these two areas are part of a larger mineralized system."
The new discovery, called the Bingo zone, is associated with a radioactive structural dome that is geologically similar to others that have been proven to host uranium mineralization in Niger. It is favorably located on a fault that contains uranium deposits along strike elsewhere in the district.
Results
Assay results from 16 surface rock chip samples, which were collected from outcrops covering a large area during a first-pass reconnaissance exploration of anomalies identified during an earlier airborne survey, reveal uranium values of up to 0.18% U(3)O(8). Details of the 10 assays that returned values above 0.09% U(3)O(8) are provided in the table below.
-------------------------------------------------------------------------
Sample ID Scintillometer Uranium U(3)O(8) U(3)O(8)
Intensity (cps) (U_IMS40B) (ppm) (%)
(ppm)
-------------------------------------------------------------------------
ING-A10-001 8000 greater greater greater
than 2000 than 2358 than 0.24
-------------------------------------------------------------------------
ING-A10-002 37000 greater greater greater
than 2000 than 2358 than 0.24
-------------------------------------------------------------------------
ING-A10-003 17000 greater greater greater
than 2000 than 2358 than 0.24
-------------------------------------------------------------------------
TNX_002 26000 greater greater greater
than 2000 than 2358 than 0.24
-------------------------------------------------------------------------
TNX_004 350 greater greater greater
than 2000 than 2358 than 0.24
-------------------------------------------------------------------------
FAX_001 greater 1555 1833 0.18
than 9999
-------------------------------------------------------------------------
IRZ-A07-001 3750 1109 1308 0.13
-------------------------------------------------------------------------
TNX_001 6993 1018 1200 0.12
-------------------------------------------------------------------------
AZX_100 3600 760 904.8 0.09
-------------------------------------------------------------------------
ING-A16-001 3000 757 893 0.09
-------------------------------------------------------------------------
Producing mines and deposits in Niger typically grade from 0.1% to 0.42% U(3)O(8), with the highest grades being mined at greater depths.
Findings from the re-analysis of over-limit samples will be announced once they have been received. SGS Lakefield Research Africa has advised Northwestern that the expected minimum turnaround time for these results is 5-6 weeks. As such, results are not expected until June at the earliest.
In Gall and Irhazer cover 988,000 acres (4,000 square kilometers) of highly prospective land within the same stratigraphy as two operating uranium mines that together provide almost 10% of worldwide production. Niger currently ranks as one of the world's top producers of uranium.
With excellent results from rock sampling, reconnaissance exploration and an airborne survey, Northwestern anticipates the commencement of drilling before the rainy season. The drill remains en route to Africa from France, having been delayed because of mechanical problems with the ship transporting the equipment. Northwestern is making arrangements to have the drill arrive in Niger as quickly as possible. Drilling is expected to commence as soon as the drill arrives and the company receives permission from the Government of Niger to commence drilling. Northwestern will provide an update as developments warrant.
Quality Assurance
Fieldwork in Niger is being conducted under the supervision of Abdelkarim Aksar, P.Geo., Northwestern's Niger Project Manager. Laboratory analysis was conducted by SGS Lakefield Research Africa by Aqua Regia Digest followed by ICP-OES. Analysis of all samples is carried out using Standard Reference Materials and a minimum of 10% of samples are analyzed in duplicate. Re-analysis is being conducted by SGS using borat fusion followed by x-ray fluorescence. Northwestern and SGS both maintain comprehensive and independent Quality Control/Quality Assurance programs.
ABOUT NORTHWESTERN:
Northwestern Mineral Ventures (www.northwestmineral.com) is an international resource exploration company with an experienced management team. The company is focused on properties in Niger and Canada with potential uranium targets. Northwestern also has a precious and base metal property in Mexico. Northwestern is listed on the NASD Bulletin Board under the symbol "NWTMF" and the TSX Venture Exchange under the symbol "NWT."
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the worldwide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.
Potential quantity and grade is conceptual in nature, there has been insufficient exploration to define a mineral resource on Northwestern's Niger properties and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
Additional information about Northwestern's Niger properties is contained in press releases dated March 15, 2006, March 1, 2006, December 14, 2006, October 25, 2006, September 29, 2006, September 22, 2006, June 15, 2006, May 23, 2006, May 2, 2006 , March 27, 2006 and March 8, 2006.
SOURCE Northwestern Mineral Ventures Inc.
Marek J. Kreczmer, M.Sc., P.Eng., President and CEO, (866) 437-9551, info@northwestmineral.com http://www.prnewswire.com
Copyright (C) 2007 PR Newswire. All rights reserved
© 2007 Stockgroup Media Inc. | Disclaimer
NWT Releases SHfn
Northwestern confirms higher-grade uranium mineralization on Niger properties; submits over-limit samples for re-analysis
Pinnacle Digest: Northwestern Mineral Ventures Inc: A Drilling Contract Update
Northwestern signs Niger drill contract
Northwestern confirms uranium occurrences on Niger properties
MINEWEB mentions NWT by Rodrick Mukumbira, 02 May 2007
ABOVE-LIMIT SAMPLES
Northwestern Mineral Ventures has sent uranium samples from its property in Niger for re-analysis because preliminary analyses suggested grades were higher than the standard detection limit.
Uranium mineralization in Niger has so captivated Northwestern Mineral Ventures Inc (TSXV: NWT; OTCBB: NWTMF) that it has sent some samples collected from its properties in the West African country for re-analysis to get the accurate value of the uranium find.
The company Wednesday identified these as above-limit samples documented after assay results from rock samples collected during a first-pass reconnaissance exploration of airborne anomalies on its 100 percent-owned In Gall and Irhazer uranium properties in Niger confirmed high mineralization of uranium.
The company said it intersected mineralization of as high as 0.18 percent U3O8, with several samples exceeding the 0.24 percent U3O8 detection limit that is commonly used to analyze samples from Niger.
Niger is currently ranked among the world's top producers of uranium. Northwestern Mineral's properties cover 4,000 square kilometres of highly prospective land within the same stratigraphy as two operating uranium mines that together provide almost 10 percent of worldwide production.
Producing mines and deposits in Niger typically grade from 0.1% to 0.42% U3O8, with the highest grades being mined at greater depths.
"The initial rock sample results, which we reported in early March, confirmed uranium mineralization in one highly prospective area. These new findings include even greater uranium values from a new discovery zone that is situated 6.3 kilometres east of the original area of mineralization," said Marek J. Kreczmer, President and CEO of Northwestern. "Based on results to date, we believe that these two areas are part of a larger mineralized system."
Kreczmer said the new discovery, called the Bingo zone, is associated with a radioactive structural dome that is geologically similar to others that have been proven to host uranium mineralization in Niger.
He said it is favourably located on a fault that contains uranium deposits along strike elsewhere in the district.
Assay results from 16 surface rock chip samples, which were collected from outcrops covering a large area during a first-pass reconnaissance exploration of anomalies identified during an earlier airborne survey, revealed uranium values of up to 0.18 percent U3O8.
Following the excellent results from rock sampling, Northwestern expected to commence drilling on the properties "before the rainy season" and was making efforts to fast track the shipment of drilling equipment from France.
The company is focused on properties in Niger and Canada with potential uranium targets, but also has a precious and base metal property in Mexico.
http://www.mineweb.com/mineweb/view/mineweb/en/page66?oid=20408&sn=Detail
Whether it’s constant or inflation-adjusted dollars, spot uranium now trades at the highest level in history at U.S. $120/pound. Chart courtesy of TradeTech, which has been reporting the spot uranium price since 1968. Changes in the weekly spot uranium price are posted on the company’s website at www.uranium.info
“Bids were made through a variety of channels, including postings on New York Nuclear’s Uranium On-Line,” reported Nuclear Market Review (NMR) editor Treva Klingbiel in Friday’s issue. “Sellers were unresponsive and buyers were unable to conclude purchases by week’s end.” As a result the weekly spot uranium price indicator was increased to US$120/pound.
As we have advised the growing number of media contacting StockInterview.com, the market is in a ‘wait and see’ phase ahead of NYMEX futures trading. Sellers are not eager to quickly sell out, and continue to stretch their speculation to the limit. The gulf between the weekly spot price and the long-term uranium price now stands at $35/pound. This was the long-term uranium price in November 2005; now the dollar amount is the spread between spot and long-term.
Since January 2001, spot uranium has skyrocketed by 1775 percent. Over the past twelve months, U3O8 is 179 percent higher. The astounding price rise has fueled unusual price predictions across the Internet by less well-informed commentators. Discussions we had with Sprott Asset Management’s Kevin Bambrough, exactly 16 months ago, regarding his notion of a purely hypothetical uranium price of US$500/pound, are presently being forecast by the more enthusiastic price promoters. One of the more naïve has announced it could happen ‘in the blink of an eye.’
A strong reason deterring potential sellers from quickly parting with their precious U3O8 is the potential auction at the end of May by Texas-based Mestena Uranium LLC. Recent significant spikes in the spot uranium price followed the opening of sealed bids for modest quantities of the company’s yellowcake production.
According to NMR, both the conversion and enrichment markets remained quiet ahead of the NYMEX uranium futures trading soon commencing. “Market participants are awaiting with great curiosity the debut of NYMEX uranium futures trading,” Klingbiel wrote. Sellers are wary of committing to sales based on market-related pricing without a ‘clear understanding of whether the financially settled futures contract would reflect in the physical market,’ according to NMR.
Utility representatives attended this past week’s NYMEX seminars in New York and Atlanta to better understand how futures trading would impact their ability to purchase uranium. Exelon Corp’s (EXC) Jim Malone reportedly commented he would study futures trading as a possible risk management vehicle for the largest utility in the U.S.
http://www.stockinterview.com/News/05052007/Record-Uranium-Spot-Price.html?section=news&action=d....
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Northwestern confirms higher-grade uranium mineralization on Niger properties; submits over-limit samples for re-analysis
Monday April 30, 9:00 am ET
TORONTO, April 30 /PRNewswire-FirstCall/ - Northwestern Mineral Ventures Inc. (TSXV: NWT; OTCBB: NWTMF) is pleased to announce additional assay results from rock samples collected during a first-pass reconnaissance exploration of airborne anomalies on its 100%-owned In Gall and Irhazer uranium properties in Niger. Findings reveal the highest levels of uranium mineralization discovered on the properties to date, with values of up to 0.18% U(3)O8. In addition, several samples exceeded the 0.24% U(3)O(8) detection limit in tests that are commonly used to analyze samples from Niger. The above-limit samples have been scheduled for further analysis using a technique that can accurately measure higher uranium values.
"The initial rock sample results, which we reported in early March, confirmed uranium mineralization in one highly prospective area. These new findings include even greater uranium values from a new discovery zone that is situated 4.0 miles (6.3 kilometers) east of the original area of mineralization," said Marek J. Kreczmer, President and CEO of Northwestern. "Based on results to date, we believe that these two areas are part of a larger mineralized system."
The new discovery, called the Bingo zone, is associated with a radioactive structural dome that is geologically similar to others that have been proven to host uranium mineralization in Niger. It is favorably located on a fault that contains uranium deposits along strike elsewhere in the district.
Results
Assay results from 16 surface rock chip samples, which were collected from outcrops covering a large area during a first-pass reconnaissance exploration of anomalies identified during an earlier airborne survey, reveal uranium values of up to 0.18% U(3)O(8). Details of the 10 assays that returned values above 0.09% U(3)O(8) are provided in the table below.
-------------------------------------------------------------------------
Sample ID Scintillometer Uranium U(3)O(8) U(3)O(8)
Intensity (cps) (U_IMS40B) (ppm) (%)
(ppm)
-------------------------------------------------------------------------
ING-A10-001 8000 greater greater greater
than 2000 than 2358 than 0.24
-------------------------------------------------------------------------
ING-A10-002 37000 greater greater greater
than 2000 than 2358 than 0.24
-------------------------------------------------------------------------
ING-A10-003 17000 greater greater greater
than 2000 than 2358 than 0.24
-------------------------------------------------------------------------
TNX_002 26000 greater greater greater
than 2000 than 2358 than 0.24
-------------------------------------------------------------------------
TNX_004 350 greater greater greater
than 2000 than 2358 than 0.24
-------------------------------------------------------------------------
FAX_001 greater 1555 1833 0.18
than 9999
-------------------------------------------------------------------------
IRZ-A07-001 3750 1109 1308 0.13
-------------------------------------------------------------------------
TNX_001 6993 1018 1200 0.12
-------------------------------------------------------------------------
AZX_100 3600 760 904.8 0.09
-------------------------------------------------------------------------
ING-A16-001 3000 757 893 0.09
-------------------------------------------------------------------------
Producing mines and deposits in Niger typically grade from 0.1% to 0.42% U(3)O(8), with the highest grades being mined at greater depths.
Findings from the re-analysis of over-limit samples will be announced once they have been received. SGS Lakefield Research Africa has advised Northwestern that the expected minimum turnaround time for these results is 5-6 weeks. As such, results are not expected until June at the earliest.
In Gall and Irhazer cover 988,000 acres (4,000 square kilometers) of highly prospective land within the same stratigraphy as two operating uranium mines that together provide almost 10% of worldwide production. Niger currently ranks as one of the world's top producers of uranium.
With excellent results from rock sampling, reconnaissance exploration and an airborne survey, Northwestern anticipates the commencement of drilling before the rainy season. The drill remains en route to Africa from France, having been delayed because of mechanical problems with the ship transporting the equipment. Northwestern is making arrangements to have the drill arrive in Niger as quickly as possible. Drilling is expected to commence as soon as the drill arrives and the company receives permission from the Government of Niger to commence drilling. Northwestern will provide an update as developments warrant.
Quality Assurance
Fieldwork in Niger is being conducted under the supervision of Abdelkarim Aksar, P.Geo., Northwestern's Niger Project Manager. Laboratory analysis was conducted by SGS Lakefield Research Africa by Aqua Regia Digest followed by ICP-OES. Analysis of all samples is carried out using Standard Reference Materials and a minimum of 10% of samples are analyzed in duplicate. Re-analysis is being conducted by SGS using borat fusion followed by x-ray fluorescence. Northwestern and SGS both maintain comprehensive and independent Quality Control/Quality Assurance programs.
ABOUT NORTHWESTERN:
Northwestern Mineral Ventures (www.northwestmineral.com) is an international resource exploration company with an experienced management team. The company is focused on properties in Niger and Canada with potential uranium targets. Northwestern also has a precious and base metal property in Mexico. Northwestern is listed on the NASD Bulletin Board under the symbol "NWTMF" and the TSX Venture Exchange under the symbol "NWT."
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the worldwide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.
Potential quantity and grade is conceptual in nature, there has been insufficient exploration to define a mineral resource on Northwestern's Niger properties and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
Additional information about Northwestern's Niger properties is contained in press releases dated March 15, 2006, March 1, 2006, December 14, 2006, October 25, 2006, September 29, 2006, September 22, 2006, June 15, 2006, May 23, 2006, May 2, 2006 , March 27, 2006 and March 8, 2006.
Source: Northwestern Mineral Ventures Inc.
Interesting from Silicon Investor fourm
Sprott put out a piece on the U market yesterday.
At the recent World Nuclear Association conference, Cameco presented a paper suggesting that the uranium suppliers were not ready for the impact that the new reactor builds will have on the current market. It was suggested that in 2010, 10 new reactors would be coming on-line per year for at least a 10-year period. Assuming a typical
1000MW reactor, the initial core of between 700M to 1.2MM lbs of uranium would be required.
More importantly those 10 reactors would require at minimum, two to three years of inventory before commencing power generation. An average reload is required every 8 months to 14 months depending on the size and type of reactor. The average size of a reload on a conservative basis is 500M lbs of uranium equivalent. So on a conservative basis the new reactors would require between 17MMlbs-22MMlbs of uranium before they even begin to produce power on an annualized basis. What the WNA does not account for is the timing requirements of these inventories. For the fuel rods to be fully fabricated and tooled for use the uranium must be purchased/mined, converted, enriched and fabricated. This process will take at best two and half to three years. As such the uranium demand required for 2010 could hit the market as early as 2007. These estimates have not been considered in most modeling. We do not anticipate that this material will not be available, but rather that utilities will be forced to adjust its inventory to make up any deficits and as such lower what are already critical inventory levels.
Uranium, Energy Choice of Tudor, Adit, to Beat Oil, Metals
By Gavin Evans and Christopher Donville
Nov. 6 (Bloomberg) -- Uranium is the energy investment of choice for a growing number of hedge funds, who say a sixfold gain since 2001 is just the beginning of a rally that will last years.
``We're in an historic uranium shortage,'' said James Passin, who manages $580 million at New York-based Firebird Management LLC and began buying shares of uranium producers five years ago. ``We're in a global nuclear revival.''
Uranium, up 7 percent last week to a record $60 a pound, may rise to $70 by January after a flood at Cameco Corp.'s Cigar Lake mine, says Jean-Francois Tardif, who has $180 million in uranium at Sprott Asset Management Inc. Bob Mitchell at Adit Capital Management LP says $80 to $100 a pound is possible.
Even with new mines, growth in the supply of uranium is straining to keep up with demand from utilities. Production from five of the six largest mines in Canada, Australia and Namibia fell in the first half from a year earlier, according to Nukem Corp., a Danbury, Connecticut-based uranium trader.
Power producers are paying record prices for uranium to run plants that produce 16 percent of the world's electricity. Russia plans to make nuclear power the source of 25 percent of its needs by 2030, from 16 percent now, creating a state-run company to compete with Paris-based Areva SA.
Demand for nuclear energy is bolstered by government efforts under the Kyoto Accord to limit emissions of carbon dioxide and curb imports of fossil fuels. Australia, home to 40 percent of the world's known uranium deposits, says it may build a nuclear industry that can compete with oil and coal within 15 years.
`Producers' Market'
``It is a very tight, producer's market,'' said Robert Godsell, 54, chief executive officer of Johannesburg-based AngloGold Ashanti Ltd., whose gold mines also produce enough uranium to meet the needs of Electricite de France SA, the world's biggest nuclear-energy provider. ``We're very optimistic about the long-term price of uranium because it's the only alternative to coal and oil-based energy on scale.''
The spot price of uranium has advanced 45 percent on average in each of the past five years, based on data from Roswell, Georgia-based Ux Consulting Co., a pricing benchmark in the nuclear industry. That beats the average annual gain of 23 percent for copper and nickel on the London Metal Exchange.
The Reuters-Jeffries CRB Index of commodities is down 8 percent this year, while uranium is up 66 percent.
Beats Buffet
``There's nothing to stop the rally in uranium, unless nuclear has a big accident,'' said Thomas Neff, 63, a physicist and uranium-industry analyst at the Massachusetts Institute of Technology in Cambridge. The industry's worst accident, the explosion and fire that killed almost 50 at Russia's Chernobyl plant, occurred in 1986.
``We had 20 years of low prices,'' said Neff. ``The cost of that is there had been virtually no investment in new mining projects.''
Passin's Firebird Global Fund has earned average annual returns of 46 percent over the past five years. Passin is the largest shareholder in Summit Resources Ltd. of Perth, Western Australia, and has been a ``long-time holder'' of uranium explorer UEX Corp. of Vancouver.
By comparison, Warren Buffett's Berkshire Hathaway Inc. has returned 8.8 percent a year over the same period. Buffett's energy investments have been in oil, natural gas, coal and renewable power, not nuclear.
Buffett, the world's second-richest man, completed a $5.1 billion takeover of electricity producer PacifiCorp from Scottish Power Plc in March, and at his annual shareholders meeting in May singled out utilities as an area of interest. New reactors may be needed to ease the threat of global warming, he told the Wall Street Journal in June 2005. The 76-year-old investor didn't return an e-mail seeking comment.
`Going Higher'
Tudor Investment Corp., the $14.7 billion fund founded by Paul Tudor Jones, in the second quarter bought a stake in Cameco, the world's biggest uranium supplier, worth C$32.2 million ($29 million), according to data compiled by Bloomberg. Citadel Investment Group LLC, a $12 billion hedge fund, in that period had a stake worth C$12.4 million, the data show.
Spokesman Bryan Locke of Chicago-based Citadel, and Gwenn Daniels, who speaks for Greenwich, Connecticut-based Tudor, declined to comment.
``Prices are going higher,'' said Mitchell, 52, of Adit Capital, whose fund holds uranium and shares in miners, fuel- makers and reactor builders.
The flood at Cigar Lake, which Cameco said will delay production until at least early 2009 from what may become the world's second-largest mine, ``has accelerated what was already happening,'' said Mitchell. ``The movie that was already playing has been put on fast-forward.''
Tightly Regulated
Portland, Oregon-based Adit began buying uranium in December 2004. Mitchell wouldn't disclose the size of the investment, which accounts for 70 percent of the Adit I fund.
Investors by law can't take physical delivery of uranium, which is tightly regulated by governments. North Korea's test of a nuclear bomb last month and the United Nations' investigation of Iran's nuclear program heightened security concerns.
Adit's holding is stored on the fund's behalf in a licensed ``secure facility,'' Mitchell said. Access to storage is getting scarce as utilities buy uranium to ensure future supply.
Cameco estimates that speculators hold about 18 million pounds of uranium, the equivalent of more than half the 30 million pounds traded each year on the spot market.
``With recent events and the outlook for prices, they continue to be interested in accumulating,'' said George Assie, Cameco's vice president of marketing and business development. ``They are a buyer, not a seller.''
Uranium Shares
Demand is also rising for shares in Toronto-based Uranium Participation Corp., a publicly traded investment fund managed by uranium miner Denison Mines Ltd., and U.K.-based Nufcor Uranium Ltd., a fund started by Nufcor International Ltd., the world's biggest uranium trader.
Shares in the funds trade at a premium to their uranium holdings, implying a price of as much as $80 a pound, said Mitchell, who manages $150 million. Russia, the fourth-largest uranium producer, is considering selling shares in state companies that mine the metal.
Rising oil and gas prices have bolstered the case for nuclear energy. Natural gas in New York costs about $7.50 for each million British thermal units, more than three times the average of $2 during the 1990s. Crude oil prices have doubled in three years, reaching a record $78.40 a barrel in July.
The 7 percent increase in uranium last week was the biggest gain in more than 20 years, according to Ux Consulting.
``Cigar Lake was in big bold type on everybody's spreadsheets as producing 18 million pounds a year two years from now,'' said Sprott's Tardif, whose holdings include Energy Resources of Australia Ltd. and Paladin Resources Ltd. ``Now they're going to have to go elsewhere'' for supply.
Rogers Skeptical
Don't chase the uranium rally, said Jim Rogers, the author of ``Hot Commodities'' (Random House, 272 pages, $25.95).
``It's not a surprise that prices are at all-time highs given that nobody has been opening new mines,'' he said in an Oct. 31 interview in London. ``However, I don't want to be investing in things that are touching all-time highs.''
James Malone, vice president of uranium and nuclear fuel at Chicago-based Exelon Corp., which runs 11 percent of U.S. nuclear power plants, said mine supply should catch up with demand by 2010.
``The potential for uranium from new sources is significant,'' he said in an e-mailed response to questions. ``I do not expect to see a return to $10 per pound uranium, and I do not expect the price to remain at its present level.''
Prices would need to reach $111.65 to match the inflation- adjusted high recorded in May 1978, MIT's Neff said.
New Reactors
World Nuclear Association data show that 442 nuclear reactors are in operation around the world. About 200 metric tons of the metal will run a 1,000 megawatt reactor for a year. AngloGold last year mined 13,920 metric tons.
By 2015, as many as nine new reactors may be operating in Latin and North America, seven in Europe and 23 in Asia, Jack Fuller, chief executive officer of Wilmington, North Carolina- based Global Nuclear Fuel LLC, told delegates at the Pacific Basin Nuclear Conference in Sydney last month.
``The whole industry is going to change radically in the next five to 10 years,'' he said.
Before the Cigar Lake mine flooded, RBC Capital Market analyst Fraser Phillips expected production to exceed demand as early as 2008 and for prices to ease to $40 a pound by 2009.
Now that won't happen, he wrote in an Oct. 24 report. ``We will be reviewing our uranium forecast shortly,'' he said.
``Uranium investment is needed now,'' said Ian Lambert, vice chairman of Uranium Group, which advises the International Atomic Energy Agency and the Organization of Economic Cooperation & Development. ``Even if this nuclear renaissance turns out to be something of a flop, there will still need to be an increase in mined supplies of uranium.''
To contact the reporter on this story: Gavin Evans in Wellington, New Zealand at gavinevans@bloomberg.net ; Christopher Donville in Vancouver at cjdonville@bloomberg.net
Last Updated: November 5, 2006 22:09 EST
Dines said on Thursday in another presentation that “we need to look wrong to be right in the stock market,” referring to a number of previous market calls that proved to be the hot investment at the time, even if perceived as wretched by the general market at the time.
Dines also said that eventually he expects to see every uranium stock increase and said that “it’s not too late to get into uranium.” Dines said that he is looking for sky-high prices and that the impact on the uranium industry “will be phenomenal.”
Date:10/27/2006 9:25:37 AM
Post #of 4475
Junior Market Shows Some Efficiency
By David J. DesLauriers
26 Oct 2006 at 02:56 PM EDT
TORONTO (ResourceInvestor.com) -- The junior market is rarely efficient, which is precisely why there are many mispriced securities out there that represent bargains, or overvalued dogs waiting to crash. It is the lack of efficiency in Canadian junior markets that allows those who know what they are doing and have a nose for value, to make multi-baggers in 12-24 month time frames. This gradually occurs as others see what you saw, and which, by the time Joe Six-Pack gets involved, has probably become glaring and obvious.
Efficiency
A couple of days ago when Cameco [NYSE:CCJ; TSX:CCO] announced delays at Cigar Lake, it was remarkable to see the small number of better known, larger uranium players listed in Canada instantly jumped 10% as Cameco was dropping by 10%. In no particular order, International Uranium Corp. [TSX:IUC], UEX Corp. [TSX:UEX], Paladin [TSX:PDN], SXR Uranium One [TSX:SXR], Ur-Energy [TSX:URE] and UrAsia Energy [TSXv:UUU] all did very nicely.
The gains didn’t trickle down to the smaller uranium companies, most of which are explorers, which is probably fair enough.
Will the Gains Hold?
The fact is that the price of uranium goes up almost every week, and the companies that saw their share prices rise won’t likely be making large adjustments to their production outlooks based on Cameco’s misfortune.
Nevertheless, Cigar Lake was slated to produce a very meaningful double-digit share of global uranium production, something which will probably still happen, just with some delay.
It is telling that the Uranium Participation Fund [TSX:U], which essentially tracks the price of uranium, jumped 20% in two days on the back of Cameco’s news. This may indicate that the next uranium price quote which is published, will see yellowcake in the mid $60 range per pound.
Catalyst
Shares in the aforementioned so-called near-term producers (more likely for some than others) have continued to rally, while Cameco has not recovered.
If Cameco were to bite on just one of these producers, maybe Paladin or UrAsia, the whole sector would go nuts.
As it is, if gains continue to hold, then the uranium market even for the juniors may well be on its way back again, and it may be time for investors to re-load some of their favourite names, which are not as core as the near-term production bunch.
Indeed, as fellow RI correspondent Michael DesLauriers noted in August, “There is little doubt that the entire universe of uranium stories will have another run, good and bad alike, if only as a result of price action in the metal itself, and a concomitant swelling in speculation. The important thing to consider is that, like other areas within the resource sector, there is such a thing as the best of breed. In the case of uranium plays the top of the heap are those companies which are near production, or already in production.”
And just two weeks ago, RI stated: “It is RI’s firm conviction that uranium names will have their turn again soon, as investors rotate back into the space, and that when that time comes, battered quality names will receive the majority of lift.”
That has now happened, or is beginning to happen. Next to go will be quality junior names with high-impact potential and first-class sponsorship.
Conclusion
There will likely be more action to come in the near-production names before the juniors start to move. When they do however, because the majority are at or near their 52-week lows, some very good money will be made. This calls for a watching brief.
http://www.resourceinvestor.com/pebble.asp?relid=25118
Wednesday, October 18, 2006 12:30 PM ET
RobTV
Market Call with Jim O'Connell
The Big Picture: Energy, Metals and Resources
Doug Casey, chairman, Casey Research
"Listen to Dougs statements on uranium 1/4 way through interview"
http://www.robtv.com/servlet/HTMLTemplate/!robVideo/robtv0726.20061018.00043000-00043981-clip1/h/220....
Myra Saefong's Commodities Corner
Uranium's poised for more powerful gains
By Myra P. Saefong, MarketWatch
Last Update: Oct 20, 2006
SAN FRANCISCO (MarketWatch) -- As the world seeks alternatives to oil as a source of energy, uranium has been on a tear, scoring a gain of around 700% in six years as interest in nuclear power has revived.
"Uranium's performance has been in a league of its own," said Scott Wright, an analyst at financial-services company, Zeal LLC.
Uranium has been one of the best-performing commodities in this bull market, he said. Spot prices are trading at around $56 a pound, an eight-fold increase from as low as $7 back in 2000. See the latest uranium prices. "And the way fundamentals look today, there could be a lot more room to run," said Wright. Crude and gold prices have seen strong gains, but they pale in comparison to uranium. Over the last six years, crude futures are up around 90% and gold futures prices have more than doubled.
The biggest reason for uranium's rise? Simply put: supply scarcity.
Short on supply Uranium, a radioactive heavy metal that's the basic material for nuclear technology, is actually more common than silver, according to the U.S. Energy Dept. But the market for it is suffering from a supply and demand squeeze. "For more than 10 years, the nuclear-power industry has consumed more uranium than has been mined," said Lawrence Roulston, editor of Resource Opportunities, an independent investment newsletter.
World consumption was pegged at 171 million pounds last year and global supplies were estimated at about 102.5 million pounds, according to Sean Brodrick, contributing editor of MoneyandMarkets.com. The difference of more than 60 million pounds has been met mostly by using highly-enriched uranium from Russia's nuclear weapons that were being decommissioned, he said. But "we are fast reaching the end-game on that source. "In fact, the end to the above-ground supply will come before there is time to develop significant new mine supplies, said Roulston.
Exacerbating the problem, now that nuclear energy is in vogue again, the growing pipeline of reactors coming online in the next decade will substantially add to the overall demand for uranium, said Wright.
"As stockpiles dwindle, people are starting to see the writing on the wall that there will likely be several decades of mined supply deficits for this metal," he said.
A key fuel
Uranium is the key fuel for nuclear energy which remains the proven alternative to oil and coal for creating electricity.
"Nuclear energy has become a very acceptable alternative to the fossil fuels that power the globe today and uranium is the commodity poised to shoulder this drive," said Wright. 'For more than 10 years, the nuclear-power industry has consumed more uranium than has been mined.'
— Lawrence Roulston, Resource Opportunities "Unlike many of the alternate energy plays out there, nuclear energy is proven to work on a mass scale," he said, pointing out that 16% of the world's electricity is generated from it.
Nuclear power is "getting cheaper and safer," said Brodrick, and operating a nuclear plant produces zero greenhouse gases, compared with the average coal plant's release of 3.7 million tons of carbon dioxide every year. Read his recent report on nuclear energy.
In addition, nuclear energy offers a means for countries to take control of their own destiny. "Right now, OPEC has us over a barrel," Brodrick said, referring to the Organization of the Petroleum Exporting Countries, whose members produce about 43% of the world's crude oil.
While nuclear power can't replace oil, it can "be a much larger part of our energy picture," he said. The U.S. was once the world's largest producer of uranium and uranium mines in the nation is gearing up again, he said.
Countries boost spending
The U.S. gets about 20% of its power from 103 nuclear power plants that produced 780.4 million megawatts last year -- that makes it the world's largest generator of nuclear power, said Brodrick.
Worldwide, there are 442 nuclear reactors in operation, with a total of around 250 under construction, planned or proposed, according to data from the World Nuclear Association.
It's estimated that this year, over 170 million pounds of uranium will be required to operate these reactors, said Wright. Canada has an $18 billion plan to upgrade nuclear plants and build new ones, according to Brodrick. And so far, the U.S. has earmarked $13 billion in new subsidies for nuclear power, "but I expect that to rise -- substantially too," he said.
Russia's President Vladimir Putin has targeted nuclear power's share of Russia's energy use to increase from 15% to 25% by 2030, he said. To get there, Russia would need to add 40,000 megawatts of nuclear energy each and every year, "building at least 40 new nuclear reactors by 203," Brodrick said. "Governments around the world ... are realizing they can't meet their growing energy needs through fossil fuels alone, and are embarking on very ambitious nuclear programs," he said.
Uniquely lacking a trading forum
So, it's obvious uranium can offer a unique investment opportunity. There's just one problem: you can't just buy the product -- the commodity doesn't trade on any futures exchange like oil and gold trade on the New York Mercantile Exchange. "Unlike many of the major metals, uranium has never been traded in the formal futures markets, nor has it existed on any kind of tradable commodities exchange," said Wright. It is, however, actually "traded," or exchanged, through long-term contract prices negotiated directly between the buyer and seller, he said.
Uranium producers buy uranium on the spot market "because their production is falling short of their own projections, and they are locked into contracts to deliver a certain amount of uranium to their customers," Brodrick explained. 'For the average investor, the best way to take advantage of this run in uranium is to invest or speculate in the stocks of the companies that will bring uranium to market today and tomorrow.'
— Scott Wright, Zeal LLC
And, of course, there are "strict rules about buying, selling and moving uranium," said Roulston. "The metal itself is pretty much off-limits to most investors." Rest assured, there is an alternative way to invest in this alternative energy fuel. "For the average investor, the best way to take advantage of this run in uranium is to invest or speculate in the stocks of the companies that will bring uranium to market today and tomorrow," said Wright.
There are about 300 exploration/development companies, "a few of which will be successful and generate big payoffs for investors," said Roulston. "The unique sector of stocks, the majority of which trade on the TSX Venture Exchange, has soared in recent years," said Wright. And "any publicly-traded company staking a claim on or near a potential uranium deposit has watched its stock go through the roof."
Saskatchewan-based Cameco Corp. (CCJ)Cameco Corporation is the world's biggest uranium producer and "if you want to buy one of the big names in the business, it's a good choice," said Brodrick. The company's net income jumped 358% in the latest quarter, compared to a year earlier thanks to surging uranium prices, he said.
The biggest movers, however, will be in the small- and mid-cap companies, he said. Winners among the uranium miners and producers will include those companies using realistic near-term production plans and utilizing deposits discovered previously, and exploration companies that make new discoveries that are large, high-grade and in favorable locations, Roulston said.
Traders can also invest in a mutual fund or exchange-traded fund that holds uranium, Brodrick said. There are a few of these but none are listed primarily on the U.S. exchanges. Brodrick is expecting a U.S.-based uranium ETF to eventually be launched.
For now, there's Uranium Participation Corp. (CA:U: news, chart, profile) , a Canadian fund that buys physical uranium, he said. Its common shares trade on the Toronto Stock Exchange under the symbol "U" and on the Pink Sheets in the U.S. under "URPTF."
End of Story Myra P. Saefong is a reporter for MarketWatch in San Francisco.
http://www.marketwatch.com/news/story/Story.aspx?guid=%7B2A8D6FAE%2D560D%2D4F95%2D9637%2DF4D2FFA4BA2...
Just listen to the audio program, forget the promos...
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Northwestern and Azimut rock sampling and airborne results point to new uranium district at North Rae, Quebec, Canada
10/11/2006
TORONTO, Oct. 11, 2006 (Canada NewsWire via COMTEX News Network) --
Northwestern Mineral Ventures Inc. (TSX-V: NWT; OTCBB: NWTMF), as operator, and its partner Azimut Exploration Inc. (TSX-V: AZM) are pleased to announce results from the rock sampling program and airborne geophysical survey for the North Rae uranium property in northern Quebec, Canada. Findings reveal the potential for a new uranium district. Grab rock samples have defined 10 open-ended uranium zones, and the airborne survey has identified 14 high-priority anomalies with strike lengths longer than 0.6 miles (one kilometer), including seven anomalies longer than 1.8 miles (three kilometers).
"These results, together with extensive uranium anomalies from the lake sediment survey, underscore North Rae's significant uranium potential," said Marek J. Kreczmer, President and CEO of Northwestern. "Furthermore, our findings to date support the strong possibility of additional mineralized sectors elsewhere on the property. We intend to integrate the results from the summer work program in the coming months to outline specific areas for continued exploration and targeted drilling."
Initial prospecting results include 17 rock samples (16 on outcrops and one boulder) that returned values higher than 0.05% U(3)O(8) (uranium oxide), with six samples registering values higher than 0.1% U(3)O(8). Peak values were 0.56%, 0.37% and 0.33% U(3)O(8). The 17 samples are spread widely across the property and form 10 uranium showings that remain open. Seven of these samples point to a 2.6-mile (4.3-kilometer) long trend. The presence of uraninite in two samples of pegmatite (0.56% and 0.13% U(3)O(8) respectively) was confirmed by microprobe analysis performed at Laval University in Quebec. Uranium mineralization at North Rae appears to be mainly hosted by pegmatitic, granitic and gneissic lithologies.
A total of 186 rock samples were collected and analyzed. In addition to the 17 samples discussed above, results included 41 rock samples (33 on outcrops and eight boulders) with values ranging from 0.01% to 0.05% U(3)O(8), and 128 rock samples with values lower than 0.01% U(3)O(8).
Preliminary findings from the airborne geophysical survey over North Rae further establish the property's uranium potential. Interpretation of airborne results, including 14 anomalies measuring more than 0.6 miles (one kilometer), is currently underway. Those results are being integrated with mapping, lake sediment and rock sampling data to further delineate the highest priority areas for a future drill program. The airborne survey consisted of 1,790 line miles (2,882 line kilometers) at a line spacing of 656 feet (200 meters).
Results from a lake sediment survey conducted at North Rae during the summer identified five strong and extensive uranium anomalies with a peak value of 1,320 parts per million uranium. This converts into a uranium oxide value of 0.16% U(3)O(8). The complete lake sediment results were announced in a press release issued on October 5, 2006.
An additional prospecting phase was recently completed and results are pending.
The North Rae Uranium Project consists of three blocks representing 701 claims, with a total area of 77,960 acres (31,550 hectares). Northwestern has the right to earn up to 65% ownership of North Rae from Azimut Exploration Inc., as announced in a press release dated March 6, 2006.
QUALITY ASSURANCE
The exploration work was conducted under the supervision of Réjean Girard, P.Geo., and Olivier Gerbeau, Ph.D., of independent consulting firm IOS Services Geoscientifiques Inc., of Chicoutimi, Quebec. The rock samples were sent to Saskatchewan Research Council (SRC) in Saskatoon, Saskatchewan for analysis and processing. SRC is an ISO-IEC 17025 accredited facility. Aeroquest International Ltd performed the airborne survey from August 27 to September 9, 2006. MPH Consulting Ltd. of Toronto is interpreting the results of this survey.
ABOUT NORTHWESTERN:
Northwestern Mineral Ventures (www.northwestmineral.com) is an international resource exploration company with an experienced management team. The company is focused on properties in Niger and Canada with potential uranium targets. Northwestern also has a precious and base metal property in Mexico. Northwestern is listed on the NASD Bulletin Board under the symbol "NWTMF" and the TSX Venture Exchange under the symbol "NWT."
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. Potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a mineral resource on the property and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
SOURCE: Northwestern Mineral Ventures Inc.
Marek J. Kreczmer, M.Sc., P.Eng., President and CEO, (866) 437-9551, info@northwestmineral.com
Copyright (C) 2006 CNW Group. All rights reserved.
news good...stock still in sideways pattern?
Platts Nuclear Fuel Strategies Conference
October 5, 2006
By James Finch, jfinch@stockinterview.com
Uranium Bull Market: Just the Tip of the Iceberg
Uranium Price and Mining Stocks to Soar Higher
Platts Nuclear Fuel Strategies Conference
In mid September, Mitchell Dong, chief investment officer of Solios Asset Management told a news wire service, ''I think we are seeing the tip of the iceberg of financial investors entering the physical uranium market.'' At the Platts Nuclear Fuel Strategies conference in Washington , this past week, Mitchell Dong was a pit bull. Not only did he take extensive notes during the speeches, but he was first-in-line to question the majority of the speakers after their presentations.
Clearly, whatever initial purchases his fund or funds had made, in entering the physical uranium and equities markets, he probably wasn't finished loading up. Nearby, a trio of Greenwich , Connecticut hedge fund managers quietly listened to the presentations. Later, they lunched alone at their table while we observed them huddled in deep discussions about what bets they might place in the uranium bull market.
Long-time insiders have kept trying to put this bull market into whatever context they could. A difficult task since many of them endured a twenty-plus-year uranium drought, which only came out of hibernation the past few years. Some admitted they had nearly given up on the sector as the years passed by. Now, they and everyone else involved is trying to figure out how to make the Big Score on this amazing nuclear renaissance.
Of course there were opposing views on how to deal with the uranium price. Charles Peterson, an attorney at DC-based Pillsbury Winthrop Shaw Pittman LLP, hinted at a more transparent market, hoping uranium might be offered on a future exchange. He compared to the accessibility of other metals where traders use speculators. Later in the day, Patricia Mohr, Vice President for Economics, at Canada 's Scotiabank warned the industry that if uranium were traded on a futures market, its volatility might already have it trading at $100/pound.
Again, the uranium price worried many at the conference. Ending the HEU hung around at the back of the minds of utility executives probably because many wondered where future SWU would come from, should the Russians terminate supplies to U.S. utilities. Should preparations not be taken at this time, it would not surprise us to see a super-spike in the price of uranium which Sprott Asset Management's Kevin Bambrough has occasionally warned us about. U.S. utilities remain complacent, assured the Department of Energy will come to the rescue at the last minute. But will they?
On the outside chance we might get insights into the complex and secretive Russian mind, we cornered Andrey A. Orekhov, counselor for the Science and Technology Department at the Embassy of the Russian Federation. He briefly attended the conference to eavesdrop on what Ronald Lorentzen, Director of the Office of Policy within the U.S. Department of Commerce, had to say at his presentation with regards to ongoing Russo-U.S. negotiations. We tested the waters by talking about the new generation of nuclear reactors, and brashly asking him if he could introduce us to Sergei Kirienko, head of Russia 's atomic energy agency, Rosatom. Instead he referred us to a lesser light for an interview.
Then, we asked him if we had been accurate in reporting that Russia 's aggressive nuclear ambitions would drive the uranium price to $100/pound. Pondering our question for a while, as if weighing whether the wrong answer would lead to his next meal in a Russian prison, Orekhov looked off into a far corner of the room and responded, ''Who knows?''
His question concisely summarized the collective thoughts of the conference. No one really knows how much higher the price of uranium will run, whether it will reach $100/pound (and higher) and how soon it might arrive at the century mark. As we noted in an earlier part of this series, Dustin Garrow remarked of a possible run to the $80 to $100/pound level. The Florida Power and Light spokesman believed $52/pound was too high.
Renaissance Could Hit a Wall
Garrow made an interesting point at the beginning of his presentation, announcing, ''There are now more than 400 uranium companies.'' The implications of his comment are wide-ranging should one pause to ponder what he meant. Fuel Cycle Week senior editor Nancy Roth addressed this in the October 3rd issue. She reported upon the events and revelations at the Platts conference, writing, ''Several speakers mentioned serious technology and equipment deficits that are a legacy of this dormant period (the uranium depression: 1980 - 2003), along with the dearth of nuclear personnel from uranium miners to nuclear engineers.''
These observations swipe at both sides: uranium producers and utility end-users of the uranium. If the labor and equipment shortages fail to provide sufficient uranium for utilities, then the price is likely to rise much higher. At the same time, should nuclear power plants fail to staff up their operations, or construction delays impact the building of new reactors, a lesser quantity of supply, less than what has been projected, will be required.
To make it short and simple: this industry is still too 'new' to realize all of the complications required to move forward. As Ms. Roth wrote in an email to us, ''I think the uranium industry has a real chicken-and-egg problem in reinventing itself, and I think a key indicator of the severity of the problem might be in these production costs.'' The cost to which she was referring was the expense required to extract uranium from the ground. In the United States , there are a handful of in situ recovery operations. That is an insufficient number to adequately calculate an average production cost for a mining operation.
What happens when another half dozen uranium properties commence new mining operations? One of the hidden problems within the uranium development sector is the lack of proven miners. Over the past year, a few existing U.S. uranium producers experienced employee raids by the newly arrived development companies. We suspect more will take place, as several companies move closer to the mine development stage. Raids are taking place because of a lack of skilled and proven personnel.
Patricia Mohr brought up another of many interesting points. Increased mining output during 2004 and 2005, but in the first half of 2006 Mohr observed, ''Mine production probably dropped in the first half of 2006.'' She believes production was about 20 percent of companies planned. She pointed out Australia 's Ranger mine production was lower because of a cyclone; Olympic Dam because of declining ore grades. Rugged granite, from which Namibian uranium is mined, has reportedly caused problems at this country's Rossing mine. Mohr believes the mine's output could slow down in the second half of the year.
We believe the production costs for many of the up-and-coming projects are going to be greater than expected. When was the last time a new uranium mill was built? Not in this century. When was the last great uranium deposit discovered? Twenty years ago. How does a new company calculate its start-up and operating mining and milling costs in today's dollars? Some might believe they know the answer, but we won't really know until the actual production scenario takes place. And that might be two years down the road at the very earliest. Factors such as those do puzzle the forecasters, the analysts and the industry insiders. They truly do not have a proven benchmark against which to make an accurate evaluation. The last time they could was during the uranium bull market of the 1970s.
What about those 400 uranium companies? ''Do you read their news releases?'' asked Nancy Roth. She does, we read many of them. ''Aren't most of them just hype?'' she inquired. We had to agree with her assessment. But in understanding the junior uranium companies, it is the news release which attracts investors to provide market support for their stock prices. Some have no real plans but to mine the stock market, as author and long-time uranium insider Julian Steyn once told us. Over dinner, Ms. Roth provided us with an important insight. She covers the NRC hearings for various companies hoping to move their projects forward. Those who are actually meeting with NRC aren't doing so for a free trip to Washington at the expense of their shareholders, but instead to bring their project into the mine development stage. Among the most recent applicants were some of our favorites, such as Uranerz Energy (AMEX: URZ), UR-Energy (TSX: URE) and Energy Metals (TSX: EMC). Another was the privately held Concentric Energy Corp.
Coincidentally, StockInterview fan Laura Stein had been emailing us to meet with Ralph Kettell, Chief Executive of Concentric Energy. Because of Ms. Stein's insistence, and our review of Mr. Kettell, we met with him about his project. Aptly, he chose the Greenbelt exit on the Baltimore-Washington Parkway. For those unfamiliar with this exit, it is the road to NASA.
No stranger to the uranium market, he had written an article for a resource website in 2003, proclaiming the coming bull market in uranium. Kettell forecast that some of his favorite stock picks, such as Strathmore Minerals - then trading for about C$0.30/share, would jump by 1000 percent. Strathmore's 2006 high was C$3.00.
Kettell had created an index of five uranium stocks (there weren't 400 to choose from, back in 2003) from which he started at a base number of 100. Kettel's favorite stocks were Cameco Corp (NYSE: CCJ), Denison (TSX: DEN), International Uranium Corp (TSX: IUC), JNN Resources (TSX: JNR) and Strathmore Minerals (TSX: STM). He told us this past spring, the value of his index had soared to the 3,000 level - up 30 times from when he began tracking his favorite uranium stocks. Since then, the index had dropped to 2,200. We asked him in which direction he believed it was heading next. He responded, ''I've looked at the technicals (technical analysis), and it should blow through the 3,000 level in 2007.''
By early 2007, Kettell believes his private company, Concentric Energy, should be publicly trading. He told us he had rounded up the support of Jim Dines, Doug Casey and other newsletter writers for his private placement stock. Kettell said Pinetree Capital (TSX: PNP) was one institution backing his project. His company plans to develop the Anderson uranium mine, about 75 miles northwest of Phoenix, Arizona. The property had produced about 33,000 pounds in the 1950s. Additional exploration by Unocal and Urangesellschaft in the late 1970s demonstrated sufficient promise in the property. He told us Unocal was planning a 2,000-ton-day mill in 1978 for a proposed open pit mine.
We mention this meeting to bring home a very strong point about the future price of uranium. Upon our asking Mr. Kettell what his operating costs for the milling and mining operations at the Anderson property, he told us, ''About $65/pound.'' At least he was honest. This may not be the price level U.S. utilities want to hear about, but it might become the floor price for the future price of uranium. Perhaps, Mr. Kundalkar, the vice president from Florida Power and Light whom we mentioned during the first article in this series, should pay attention to what the uranium miners are saying.
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Northwestern lake survey results identify large uranium anomalies at North Rae, Quebec, Canada
October 05, 2006 09:00:00 (ET)
TORONTO, Oct 05, 2006 /PRNewswire-FirstCall via COMTEX/ -- Northwestern Mineral Ventures Inc. (NWTMF, Trade) is pleased to announce results from the lake-bottom sediment survey for the North Rae uranium property in northern Quebec, Canada. Findings have revealed five strong and extensive uranium anomalies.
The largest anomaly represents an almost continuous zone averaging nine miles (15 kilometers) long by one-to-four miles (two-to-six kilometers) wide. The zone contains uranium values ranging from 98 parts per million uranium (ppm U) to 970 ppm U. The second largest anomaly, which remains open, is located approximately six miles (10 kilometers) to the southwest and measures six miles (10 kilometers) long and one-to-four miles (two-to-six kilometers) wide. Within this zone, uranium values range from more than 100 ppm U to a peak value of 1,320 ppm U. The remaining three anomalies are sharply defined and have values of more than 100 ppm U with a peak value of 704 ppm U.
"We are excited by these results as they confirm high uranium values in areas that were believed to be highly prospective based on research and proprietary modelling technology by our partner Azimut Exploration," said Marek J. Kreczmer, President and CEO of Northwestern. "Northwestern's interest in North Rae was founded on the strength of this methodology and our findings to date further underscore the property's significant potential. The proprietary model will now be applied to this current group of results to further delineate the highest priority areas for a future drill program."
All of the anomalies overlie paragneiss, orthogneiss, granite and pegmatite, as well as two regional scale faults, which are rock formations are often associated with previously discovered uranium deposits around the world. Previously reported radioactive rock samples, reported in a press release dated August 9, 2006, occur within the areas defined by the lake-bottom sediment anomalies described above.
A total of 356 samples were collected during systematic coverage of the lake. Northwestern has also completed an airborne geophysical survey covering 1,700 line miles (2,730 line kilometers) as well as a rock sampling program for the property. Results for these exploration activities are pending.
The North Rae Uranium Project consists of three blocks representing 701 claims, with a total area of 77,960 acres (31,550 hectares). Northwestern has the right to earn up to 65% ownership of North Rae from Azimut Exploration Inc. , as announced in a press release dated March 6, 2006.
QUALITY ASSURANCE
The exploration work was conducted by Rejean Girard, P.Geo., and Olivier Gerbeau, Ph.D., of IOS Services Geoscientifiques Inc. of Chicoutimi, Quebec. Lake sediment samples were submitted to Activation Laboratories Ltd. in Lancaster, Ontario for analysis. Activation Laboratories is an ISO-IEC 17025 accredited laboratory.
OPTIONS UPDATE
Northwestern granted 100,000 stock options to one of its employees to acquire common shares of the Company at an exercise price of C$0.40 until September 20, 2011.
ABOUT NORTHWESTERN:
Northwestern Mineral Ventures (www.northwestmineral.com) is an international resource exploration company with an experienced management team. The company is focused on properties in Niger and Canada with potential uranium targets. Northwestern also has a precious and base metal property in Mexico. Northwestern is listed on the NASD Bulletin Board under the symbol "NWTMF" and the TSX Venture Exchange under the symbol "NWT."
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.
SOURCE Northwestern Mineral Ventures Inc.
Marek J. Kreczmer, M.Sc., P.Eng., President and CEO, (866) 437-9551,
info@northwestmineral.com
http://www.prnewswire.com
Copyright (C) 2006 PR Newswire. All rights reserved
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The Incredible Stealth Uranium Bull Market
By: Richard J. Greene
-- Posted Sunday, 1 October 2006
While most commodities have been plummeting in vicious corrections of late, one commodity remains not only unscathed but is relentlessly moving higher. Uranium closed the month of September with the most recent spot and term prices at $54 per pound, up over seven times from its lows in the year 2000 of around $7 per pound! Uranium stocks have traded down somewhat in sympathy with energy and precious metal stocks in the last month, yet the need for new production could not be more glaring. As you will see from the evidence that follows, identifying the companies that can bring on sizable deposits over the next few years are about as sure a bet as you can make in the uncertain world of stocks.
Currently, there are a little over 440 nuclear power plants operating around the world in 31 countries producing about 17% of the world’s electricity. Over 100 of these are in the United States and those produce about 20% of our electricity needs. Depending on your source and there are many: Uranium Information Center, International Atomic Energy Agency, World Nuclear Association, The UX Consulting Company, as well as a few of the major brokerage houses; these reactors use between 170-180 million pounds a year of uranium of which maybe a little over 100 million pounds is mined. The shortfall which ranges between 70-80 million pounds per annum is procured from either natural and enriched uranium inventories or the reprocessing of spent reactor fuels. These are the supplies which are in steady decline and must be replaced in addition to fulfilling new demand from reactors which are under construction or in the planning stages.
There are 30 new nuclear reactors under construction with another 50 approved, more than half of these in Asia. In addition, there are close to another 100 proposed. China and India are among the leading catalysts behind this newfound growth with over 50 planned, proposed, or under construction between them. While estimates vary we should expect at least 100 more reactors operating by 2015 and close to 400 more by 2030. This highlights the emerging need and scramble to find and develop new reserves.
Another big catalyst which surprisingly received little fanfare when announced was when Russia recently announced it would not be renewing its (HEU) highly-enriched uranium agreement which expires in 2013. For the US in particular this is a highly significant event since the US has been receiving an allotment of 15 Million pounds per year out of the total 23 Million pounds supplied annually through this agreement. It becomes even more alarming when one considers the US consumes about 50 Million pounds per year and produces only about 3 Million pounds per year.
We believe identifying the big winners in the uranium industry will depend on finding producers with large or highly economic deposits in politically safe environments. In light of this we note that while Canada is the leading supplier of world demand it has only 12% of known reserves while Australia supplies 23% of world demand yet has 30% of known reserves. Other big reserve holders are Kazakhstan 17%, South Africa 8%, Namibia 6%, and Russia, Brazil, and the US with about 4% each. Kazakhstan is one of the big hopes as far as rapidly increasing supply. They are hoping to almost quadruple their production from last year by 2010 from 10 Million pounds to 39 Million pounds although many industry insiders are highly skeptical. We believe identifying the next big projects to come online and the related companies is a high percentage bet to score outsized returns in this arena.
Online source:
http://news.goldseek.com/ThunderCapitalManagement/1159714950.php
Scotiabank Analyst Calls for $60/pound Uranium
Before Year End
Uranium Price Following ‘Transformational Change’ in Electricity Demand
Speaking at the Platts Nuclear Fuel Strategies Conference in Washington DC on Tuesday, Scotiabank’s Economics Vice-President Patricia M. Mohr, a highly respected uranium and commodities analyst, forecast spot uranium will reach $60/pound in late 2006. She told uranium fuel managers, hedge funds, investors, utilities, and other uranium industry insiders, “Uranium will average $60 to $65/pound in 2007.” That’s up from her 2006 forecast for an average of $46.45/pound.
Mohr emphasized that uranium is not trading in tandem with either gold, gas, or oil. “Uranium has behaved like a base metal and could go higher,” she said. According to UxC, spot uranium reached a new high of $54/pound on Tuesday. “It is now 51 percent above its previous peak,” Mohr remarked. While she noted her Commodity Index peaked in August, and Mohr expects commodity prices lower into 2007, she added, “Uranium is the exception to this rule. I see these prices moving up higher. Uranium supply is exceptionally tight.”
While some at the conference argued for a future market in spot uranium, Mohr advised against this. “The traders set the price instead of the actual trade (as is currently being done),” she warned. “If uranium were traded on a futures exchange, it would be at $100.” She pointed out that uranium is up 72.2 percent over the past 12 months.
Mohr gave two fundamental reasons for uranium’s rocket ride in 2006: inadequate mine supply and a ‘transformational change’ for baseload electricity generation. “It is a secular improvement, not a cyclical improvement,” Mohr told StockInterview.com.
She was pessimistic about a near-term improvement in mine supply. “The Kazakhs are extremely ambitious in their plans,” Mohr remarked. “Their timeline is unrealistic.” Mohr echoed similar comments about Kazakhstan uranium mining made earlier at this conference by Power Resources CEO Fletcher Newton who said of the Kazakhs, “They think big thoughts.”
Mohr sees no impact from Cameco’s Cigar Lake production until at least 2008, when she expects the Canadian uranium mine to produce about 7 million pounds. She forecast Cigar Lake to produce 11.6 million pounds in 2009 and ramp up to 18 million by 2010. Mohr does not expect a major expansion at Australia’s Olympic Dam until 2012 to 2014.
She believes ‘first core demand’ of 198 million pounds for the 168 nuclear reactors to be constructed between now and 2020 as “a key factor in boosting (the uranium) price.” Mohr sees the nuclear renaissance well underway. Of uranium mining stocks, she felt Paladin Resources was a bright spot this year and observed that uranium companies had added small increments or uranium production in the United States.
Also joining Mohr on the uranium mining panel were Dustin Garrow of Paladin Resources, who foresaw a future uranium price of between $80 and $100 pound, and David Miller of Strathmore Minerals, whose research indicated U.S. uranium mining production could reach up to 25 million pounds annually by 2020.
http://www.stockinterview.com/News/09272006/Scotiabank.html
Northwestern hires independent consulting firms to accelerate Niger uranium project development
9/29/2006
TORONTO, Sep. 29, 2006 (Canada NewsWire via COMTEX News Network) --
Northwestern Mineral Ventures Inc. (TSX-V: NWT; OTCBB: NWTMF) is pleased to announce that it has retained two independent consulting groups to assist in the development of its uranium concessions in Niger. RSG Global Ltd. will supply logistical and technical support to Northwestern's field exploration team, while a regional baseline groundwater study will be provided by Wardrop Engineering Inc.
"By engaging industry experts at an early stage, Northwestern is accelerating its current exploration efforts and moving more quickly to identify drill targets," said Marek J. Kreczmer, President and CEO of Northwestern. "In addition, by augmenting our field expertise with proven mining consultants, Northwestern can continue to transfer critical industry knowledge to its local employees, creating long-term business benefits for our company and for our host country."
RSG Global will provide logistical field support, including technical personnel, vehicles and equipment, to Northwestern's exploration staff. The RSG Global team will also help Northwestern's local representatives with the organizational requirements of its fieldwork programs, with a view that all support operations will eventually be managed in-house. RSG Global heads the mining and exploration division of Australia's largest mining consulting firm, Coffey International Limited, and has had an operating office in western Africa since 1996, providing exploration services to all major mining and exploration companies.
Wardrop, a leading Canadian engineering firm, will conduct a study of baseline groundwater quality in the region including and surrounding Northwestern's two concessions in Niger, which cover 988,000 acres (4,000 square kilometers). Wardrop is active worldwide in the uranium industry.
Northwestern has scheduled a ground exploration program to commence in the coming weeks as detailed in a press release on September 15, 2006. Work will include surface geophysical surveying, geological mapping and geochemical sampling, the results of which will be used to define drill targets.
Northwestern's In Gall and Irhazer concessions cover just under one million acres of highly prospective land within the same stratigraphy as two operating uranium mines that together provide almost 10% of worldwide production. Niger currently ranks as one of the world's top producers of uranium.
ABOUT NORTHWESTERN:
Northwestern Mineral Ventures (www.northwestmineral.com) is an international natural resource exploration company with an experienced management team. The company is focused on properties in Niger and Canada with potential uranium targets. Northwestern also has a precious and base metal property in Mexico. Northwestern is listed on the NASD Bulletin Board under the symbol "NWTMF" and the TSX Venture Exchange under the symbol "NWT."
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.
SOURCE: Northwestern Mineral Ventures Inc.
Marek J. Kreczmer, M.Sc., P.Eng., President and CEO, (866) 437-9551, info@northwestmineral.com
Copyright (C) 2006 CNW Group. All rights reserved.
© 2006 Stockgroup Media Inc. | Disclaimer
Northwestern finds 15 uranium anomalies in Niger
2006-09-22 09:11 ET - News Release
Mr. Marek Kreczmer reports
NORTHWESTERN AIRBORNE RESULTS IN NIGER IDENTIFY AT LEAST 15 HIGHLY PROSPECTIVE URANIUM ANOMALIES
Northwestern Mineral Ventures Inc. has released the results from its comprehensive high-resolution, multisensor airborne geophysical survey in Niger, which covered 24,000 line kilometres over the company's wholly owned In Gall and Irhazer uranium concessions. Results have revealed numerous uranium anomalies defined by uranium-thorium ratios, including at least 15 top-ranked significant zones that are on trend with known uranium deposits and occurrences. Analysis is under way to define additional priority targets.
"The results from the airborne survey over our two Niger concessions are highly encouraging and tremendously exciting," said Marek Kreczmer, president and chief executive officer of Northwestern. "The highest-priority anomalies are situated between, and on structures that contain, uranium deposits along strike elsewhere in the district."
Northwestern appoints new Chief Financial Officer
PR Newswire - September 07, 2006 5:01 PM ET
Northwestern Mineral Ventures Inc. (TSX-V: NWT; OTCBB: NWTMF) is pleased to announce the appointment of Mr. Erik H. Martin, CMA, as Chief Financial Officer (CFO) of the company, subject to TSX Venture Exchange approval.
Mr. Martin has 13 years of accounting management experience with a focus on publicly listed resource companies, most recently as CFO and Corporate Secretary for Olympus Pacific Minerals Inc. He has also held financial management and/or consulting roles with companies including Southern Cross Resources Inc., now sxr Uranium One Inc., Tiomin Resources Inc. and Pangea Goldfields Inc., which was acquired by Barrick Gold in 2000. Mr. Martin's key areas of expertise include regulatory and financial reporting, administrative and budgetary management, and accounting process design. He graduated from the University of Quebec at Rimouski with a Bachelor of Commerce in Accounting and received his Certified Management Accountant (CMA) accreditation in 1996.
"We are fortunate to welcome an executive of Erik's caliber to help take Northwestern to the next level," said Marek J. Kreczmer, President and CEO of Northwestern. "Erik's financial management expertise and focused experience with public resource companies will add considerable value as we continue to solidify our position as an emerging global uranium company."
As part of his compensation package, effective September 6, 2006, Mr. Martin was granted stock options under the company's option plan to acquire up to 250,000 shares of Northwestern at C$0.44 per share. Shares will expire after five years.
Northwestern's management team and Board of Directors thank outgoing CFO J. Errol Farr for his contributions to the growth of the company and wish him continued success as he pursues other professional opportunities.
ABOUT NORTHWESTERN:
Northwestern Mineral Ventures (www.northwestmineral.com) is an international natural resource exploration company with an experienced management team. The company is focused on properties in Niger and Canada with potential uranium targets. Northwestern also has a precious and base metal property in Mexico. Northwestern is listed on the NASD Bulletin Board under the symbol "NWTMF" and the TSX Venture Exchange under the symbol "NWT."
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.
SOURCE Northwestern Mineral Ventures Inc.
Marek J. Kreczmer, M.Sc., P.Eng., President and CEO, (866) 437-9551,
info@northwestmineral.com
Northwestern conducts airborne survey of uranium property in Quebec, Canada
Tuesday September 5, 9:00 am ET
TORONTO, Sept. 5 /PRNewswire-FirstCall/ - Northwestern Mineral Ventures Inc. (TSX-V: NWT - News; OTCBB: NWTMF - News) announced today that it is concluding a comprehensive airborne geophysical survey over the North Rae uranium property in northern Quebec, Canada. Previously obtained data from the Quebec government has revealed as much as 820 parts per million uranium oxide (U3O8) on the North Rae project land.
ADVERTISEMENT
"Northwestern is pleased with the progress made to date in our summer exploration at North Rae and management is committed to quickly advancing the property," said Marek J. Kreczmer, President and CEO of Northwestern. "We are confident that this airborne survey will confirm and possibly extend the areas of highly anomalous radioactivity that were uncovered during the earlier stages of our work program. The information gathered from our summer exploration will be used to delineate the most prospective uranium drill targets."
The airborne survey was scheduled to be flown over the North Rae property at a line spacing of 656 feet (200 meters), for a total of 1,701 line miles (2,738 line kilometers), at an aircraft elevation of 196 feet (60 meters), with an electromagnetic bird-ground clearance of 98 feet (30 meters) and a magnetic sensor clearance of 131 feet (40 meters). Northwestern contracted Aeroquest International Limited to conduct the survey, which will acquire radiometric data used to indicate the presence of potential uranium-bearing mineralization.
The North Rae Uranium Project consists of three blocks representing 701 claims, with a total area of 77,960 acres (31,550 hectares). Northwestern has the right to earn up to 65% ownership of North Rae from Azimut Exploration Inc. (TSX-V: AZM - News), as announced in a press release dated March 6, 2006.
SAGUENAY UPDATE
Further to Northwestern's press release dated June 21, 2006, the company has determined that it will not proceed with the acquisition of the Saguenay project in south-central Quebec, Canada, as a result of issues regarding title which arose during the due diligence process. Northwestern continues to evaluate potential acquisitions worldwide, with a focus on significant uranium projects.
ABOUT NORTHWESTERN:
Northwestern Mineral Ventures (www.northwestmineral.com) is an international resource exploration company with an experienced management team. The company is focused on properties in Niger and Canada with potential uranium targets. Northwestern also has a precious and base metal property in Mexico. Northwestern is listed on the NASD Bulletin Board under the symbol "NWTMF" and the TSX Venture Exchange under the symbol "NWT."
The TSX Venture Exchange has not reviewed and does not accept
The spot uranium market was extremely active in August in spite of expectations for a “summer slowdown.” The highly anticipated results of the US Department of Energy (DOE) auction of 700 mtU as UF6 were released, indicating that the market remains hungry for supply. In addition, the auction of 100 thousand pounds U3O8 was met with aggressive competition from potential buyers. Sellers continue to seek market-related pricing terms for spot delivery. Buyers, in an effort to resist these market-related pricing terms, are accepting higher prices in order to obtain fixed pricing terms as evidenced by the results of this month’s two fixed-price auctions. The buyer mix remains diverse, with utilities, producers, and intermediaries seeking market purchases. Long-term uranium demand remains strong and continues to exert upward pressure on the spot uranium price. Historically, the spot uranium market becomes more active in September and TradeTech expects uranium prices to continue their upward climb through the month."
Uranium Price Surpasses $50
– Can the Market Sustain this Record Price? –
Denver, Colorado, August 31, 2006—The spot market price for uranium climbed to US$52 per pound uranium oxide (U3O8) today—marking a record level in the history of uranium price reporting, begun nearly 40 years ago by NUEXCO in 1968.
In the past six months, the uranium spot market has broken through two price barriers. In March 2006, the price for uranium rose above $40 per pound U3O8 for the first time since January 1980. The uranium price first reached $40 in April 1976 and remained in the $40 range until January 1980. However, the market in the late 1970s was considerably different than today’s uranium market, which begs the question: Is today’s record price level sustainable? “We think it is,” said Treva Klingbiel, president of TradeTech, LLC, a nuclear energy market consultant. “After years of industry consolidation and tight financial conditions, uranium exploration has suffered and there will be a time lag, perhaps as long as five to seven years, before the supply side can fully respond. Thus, secondary supplies (primarily uranium inventories) will need to continue filling the ‘supply gap.’ With little strategic stock to mitigate supply disruptions, prices can rise dramatically, and in fact, have done so,” Klingbiel advised.
The biggest difference in the uranium market today is that the supply/demand outlook is much clearer than it was a quarter century ago, based on more realistic contract terms and uranium requirements. “The challenge will be to bring more uranium production online to assure market balance,” Klingbiel added. Since 1990 uranium requirements have outstripped uranium production. World uranium requirements are expected to increase steadily throughout the next decade to a peak of over 200 million pounds U3O8, according to TradeTech. Uranium producers are gearing up for this added demand. A number of existing producers are planning for expansion, while new junior producers are preparing for uranium exploration and production.
~ from http://www.uranium.info/
Looks like we`er in a short term uptrend....
Bloomberg
2006-08-22 14:56 (New York)
By Christopher Donville and Kathleen Campion
Aug. 22 (Bloomberg) -- Cameco Corp. Chief Executive Officer
Jerry Grandey comments on supplies and prices of uranium, the
radioactive metal used for fuel in nuclear reactors.
Uranium has climbed 57 percent to $47.25 a pound in the past
year, spurred by demand from hedge funds and power companies,
according to assessments on Ux Consulting Co.'s Web site.
Cameco, based in Saskatoon, Saskatchewan, is the world's
largest supplier of uranium.
On supplies:
``We're still in a position currently where 180 million pounds
of uranium are being used globally every year, but the industry is
only mining about 110 million pounds.''
``The price was for two decades about $10 a pound, below most
producers' cost and there was a real lack of investment in
exploration and new mine development. That has changed, but it
takes time to discover deposits and bring them into production.''
In the long term, reserves are sufficient to supply the
world's nuclear-power plants, Grandey said.
On prices.
``There's still upward pressure on prices. We don't see any
new pockets of supply that are going to suddenly come into the
market. That pressure that has caused a steep increase in prices
over the past two to three years is continuing. Over time, there
will be more production.
``The nuclear industry is the most heavily regulated industry
in the world, and it just takes time to bring new discoveries on
stream.''
Need to find a better U stock...This one is definitely not in play yet...
Frustrating the stock continues towards its 52 week low, but i`m still accumulating as I feel comfortable with the prospects growing forward. I usually accumulate the pennies and trade the majors in a sector. CCO may be ripe for a flip soon but the flooding problem at Cigar Lake may weight heavy yet.
Mineral of controversy rockets into the future
By Cosima Marriner 20/07/2006)
Spurned for the past two decades, uranium is now selling at record highs as it suddenly finds itself back in favour with governments around the world, which are embracing nuclear power as a key source of future energy.
Uranium demand is escalating
Languishing around $7 per lb at the start of this century, the spot price for uranium has risen more than sixfold to hit a record $45.50 per lb this week. A classic supply-demand imbalance has driven up the price: supplies are rapidly dwindling just as demand for the mineral that fuels nuclear power has returned.
Uranium has been out of favour for most of the 20 years since the Chernobyl disaster in 1986. But its fall from grace actually began in 1979 with the meltdown at Three Mile Island in Pennsylvania. Until then, miners had been ramping up uranium production in anticipation that nuclear power would increasingly become a source of energy.
But after Three Mile Island, many power companies cancelled their orders for nuclear reactors. Rather than pay the penalties for reneging on uranium purchase contracts, the companies calculated it was cheaper to continue buying the mineral and stockpiling it.
Uranium exploration ground to a halt after Chernobyl, and by the mid-Nineties the low spot price saw production at existing mines drop to 50pc below demand. Power companies relied on their stockpiles to make up most of the shortfall, while the decommissioning of Russian nuclear warheads provided 10pc of the uranium needed.
But secondary supplies are now running out just as demand is escalating, and Russian government officials have indicated they will not continue converting their warheads into uranium suitable for US reactors when their non-proliferation agreement expires in 2013.
Meanwhile, the number of nuclear reactors is likely to increase, as countries such as Britain give the green light to nuclear as an alternative source of energy. The proportion of the world's electricity generated by nuclear power is expected to grow from 16pc to 20pc. In addition to the 441 reactors currently operating, 27 are being built and a further 38 are planned globally. Most of the reactors on order will be in Asia.
Within five years there will only be enough secondary supplies to meet a quarter of the expected demand for uranium. The World Nuclear Association forecasts demand will grow from 170m lbs this year to 186m lbs by 2010. But Merrill Lynch believes supply will lag behind demand until at least 2015.
Charles Scorer, the head of Nufcor Uranium, a new uranium trading exchange, said: "Because of the lack of exploration and falling inventory, there is expected to be a tightness in the market for the next 10 years." This has underpinned a surge in the spot price, which in turn has prompted miners to increase production and has kickstarted exploration around the world.
Australia and Canada dominate the uranium market, accounting for 52pc of production in 2005. Australia boasts the world's largest resource, with 40pc of known reserves, but Canada is the largest producer, producing 28pc of the world's uranium each year. The biggest uranium company is Canada's Cameco, closely followed by Rio Tinto (which has interests in uranium mines in Australia and Namibia). Uranium is also found in Kazakhstan, eastern Europe and African countries such as Zambia and South Africa.
The world's biggest miner, BHP Billiton, last year took control of the world's largest known uranium deposit, Olympic Dam in South Australia, when it bought WMC Resources for $7bn (£3.8bn). It now plans to double production at the mine.
There has also been a sudden increase in budding uranium explorers. The number of Australian and Canadian uranium companies has more than trebled in the past year from 40 to 150. In the UK, uranium explorers Brinkley Mining and UraMin recently listed on Aim, only to watch their share prices sink. "There are a flood of new players out in the field staking new ground everywhere," Rio Tinto's chief executive of energy, Preston Chiaro, said.
From tomorrow, investors will be able to gain exposure to the rising uranium price when Nufcor Uranium floats on Aim. A spin-off from the South African First Rand/Anglo Gold joint venture Nufcor International, Nufcor Uranium has used $92m of the $120m proceeds from its initial public offering to buy 2m lbs of uranium.
Merrill Lynch expects the average spot price of uranium to hit $43 per lb this year, 54pc higher than the $28 average of 2005. "We see no short-term trigger which would reverse this bull trend," analyst Vicky Binns said.
Sentiment towards uranium only began to turn two years ago, as environmentalists became more amenable to nuclear power as an alternative to fossil fuels. One tonne of uranium generates the same amount of energy as 116,000 tonnes of coal, and nuclear power does not generate direct greenhouse gas emissions. Uranium is also far cheaper - it accounts for just 5pc of the cost of operating a reactor, compared with gas which accounts for 75pc of plant operating costs.
"A few years ago you couldn't even talk about the possibility of extending the lives of existing [nuclear] plants, let alone building new ones," said Mr Chiaro. "People are now listening more carefully and recognising nuclear power has its benefits. From a climate change point of view, people understand that there are trade-offs that have to be made. "
Of course, there remains the problem of storing radioactive waste. But supporters of uranium, like Mr Scorer, argue that this environmental hazard is far easier to contain than "the rather random dispersal of CO2 into the atmosphere". In the current climate of terrorism, security of nuclear power plants remains the biggest concern.
Like all minerals, uranium is a finite resource, but market participants argue that a lack of exploration, coupled with improvements in mining and power-generation technology, mean there is plenty left.
As recently as 2004, demand for uranium was still stagnating, if not falling. But the resurgence of nuclear power is now expected to fuel a 2pc annual growth in demand. Until supply catches up, the price is expected to climb. "It's just mushroomed. You seldom find a commodity that has had no exploration for 20 years," said Mr Scorer. "Uranium is only now entering the proper commercial stage for the first time."
Nice link...Need to find a better U stock...This one is definitely not in play yet...CCJ is expensive but it may run hot again...
"March toward fascism" is so right...The very things that make our democracy strong is its biggest weakness. American's are always being socially engineered but this time by folks with the intent on control...It almost makes sense that Gold and Uranium will be precious under those conditions..
TFN
Jim Dines audio interview about Uranium and Gold:
Discussion yesterday on uranium, on precious metals, and on America's march towards fascism.: Interview with Mr. Jim Dines, Editor/The Dines Letter.
Scroll down an click listen:
http://www.streetiq.com/dir/MVTVBOB.shtml#
Thanx...I wish the bull would visit NW HQs...:)
The_Free_Nebula
Also recommend you and others download this book, free..... enjoy...
http://www.stockinterview.com/investor_guides.html
Jim Rogers Calls for Higher Uranium Prices also an excellent U site for research.....
http://www.stockinterview.com/rogers.html
Pure Energy: Uranium's Explosive Profits
Thursday, July 13, 2006
By Michael Schaefer
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.
http://www.stockhouse.ca/shfn/editorial.asp?edtID=18475
Northwestern issues clarification regarding Saguenay Letter of Intent
Friday July 7, 5:00 pm ET
TORONTO, July 7 /PRNewswire-FirstCall/ - As the request of the TSX Venture Exchange, Northwestern Mineral Ventures Inc. (TSX-V: NWT - News; OTCBB: NWTMF - News) further clarifies its press release dated June 21, 2006. The Letter of Intent to acquire ownership of the Saguenay Uranium Property in Quebec was signed between Northwestern and Edward Bawolak, a private owner.
ADVERTISEMENT
ABOUT NORTHWESTERN:
Northwestern Mineral Ventures (www.northwestmineral.com) is an international natural resource exploration company with an experienced management team. The company is focused on properties in Niger and Canada with potential uranium targets. Northwestern also has a precious and base metal property in Mexico. Northwestern is listed on the NASD Bulletin Board under the symbol "NWTMF" and the TSX Venture Exchange under the symbol "NWT."
The TSX Venture Exchange has not reviewed and does not accept
Northwestern begins exploration at North Rae Uranium Project in Northern Quebec, Canada
Wednesday July 5, 9:00 am ET
TORONTO, July 5 /CNW/ - Northwestern Mineral Ventures Inc. (TSX-V: NWT - News; OTCBB: NWTMF - News) today announced that it has commenced exploration at its North Rae Project, a highly prospective uranium property located in the Ungava Bay region of northern Quebec, Canada.
ADVERTISEMENT
"Management is confident in the mineral potential of our North Rae property, and as such our plan is to test for potential large open-pittable uranium mineralization," said Marek Kreczmer, President and CEO of Northwestern. "By moving forward immediately with the work program on North Rae, Northwestern expects to be able to advance the project quickly with a view to defining possible uranium drill targets."
In cooperation with its joint venture partner Azimut Exploration Inc., Northwestern intends to test a new geological model that has been identified using proprietary methodology. The methodology incorporates both province-wide and area-specific data from the Quebec government that revealed as much as 0.75% U3O8 (uranium oxide) in nearby lake sediments.
The summer work program is expected to include a lake sediment survey, an airborne electromagnetic survey, soil prospecting and a ground geophysics survey. The final results, when compiled and analyzed, will be used to modify and further refine the innovative Azimut-Northwestern geological model. Northwestern's budget for this first phase of exploration is approximately C$400,000.
The North Rae Uranium Project consists of three blocks representing 668 claims, with a total area of 73,835 acres (29,880 hectares). Northwestern has the right to earn up to 65% ownership of North Rae, as announced in a press release dated March 6, 2006.
ABOUT NORTHWESTERN:
Northwestern Mineral Ventures (www.northwestmineral.com) is an international natural resource exploration company with an experienced management team. The company is focused on properties in Niger and Canada with potential uranium targets. Northwestern also has a precious and base metal property in Mexico. Northwestern is listed on the NASD Bulletin Board under the symbol "NWTMF" and the TSX Venture Exchange under the symbol "NWT."
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.
For further information
Marek J. Kreczmer, M.Sc., P.Eng., President and CEO, (866) 437-9551, info@northwestmineral.com
That probably is not so unexpected....Countries have been stripped so bare by the west and internal corruption over the years...You seemed well up on these events..
Will need to keep an eye on this matter as it may be positive or negative for Northwestern depending on the written law:
REUTERS New law to give Niger stakes in mining,oil firms
NAIMEY, July 1 (Reuters) - Niger has adopted new mining and
oil exploration laws that will give the government a stake in
companies operating in the uranium-rich country and scrap tax
breaks aimed at attracting investors.
The drought-prone former French colony adopted laws late on
Friday aimed at maximising government profits from its mines and
potential oil reserves amid rising demand for uranium and
soaring crude prices.
Niger is one of the world's top uranium producers and has
proven oil reserves of 300 million barrels but it has not found
a commercially viable way of getting the crude to the Gulf of
Guinea or the Mediterranean for export.
Under the new laws, the government will take a stake in
mining and oil exploration companies operating in semi-desert
Niger, although it did not specify how large the stake would be.
Mining rights will also be reduced to 10 years from 20 years
and exploration rights cut to 20 years from 30 years on a
reduced geographical area. Extra tax will be levied and in
certain cases, tax breaks initially aimed at attracting
investors will be cut or scrapped.
Uranium production in landlocked Niger peaked at 4,366
tonnes in 1981 but has since fallen as world market prices
slumped and now stands at around 3,000 tonnes a year.
Of that 2,000 tonnes is produced by the Compagnie Miniere
d'Akouta (COMINAK), owned by the government with French,
Japanese and Spanish interests, and the remainder by the
French-controlled Societe des Mines et de l'Air (SOMAIR), which
has announced plans to open a second mining operations.
Niger also awarded two uranium prospecting concessions to
Toronto-based Northwestern Mineral Ventures Inc <NWT.V> and one
to North Atlantic Resources <NAC.TO> earlier this year.
The government also introduced new laws that will give it a
stake in oil exploration firms. Under the new laws, permits
covering research and exploration and the transport of oil by
pipeline would be limited and taxes raised.
Wedged between oil producers Algeria and Nigeria,
impoverished Niger wants to find more oil to make export
commercially viable.
Algeria's state energy company Sonatrach signed a deal last
year with Niger to search for oil. Malaysia's Petronas has also
been exploring a concession near the border with Chad as part of
a joint venture with U.S. industry giant Exxon Mobil Corp
<XOM.N>.
State giant China National Petroleum Corp has two vast
concessions and Nigeria and Algeria are looking to build a gas
pipeline joining their countries and passing through Niger.
Reporting by Abdoulaye Massalaki; Dakar newsroom +221 864
5076; editing by David Christian-Edwards))
Keywords: MINERALS NIGER
NORTHWESTERN MINERAL VENTURES INC. ("NWT")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: June 30, 2006
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation
pertaining to a Letter of Intent dated June 9, 2006 between
Northwestern Mineral Ventures Inc. (the "Company") and Edward
Bawolak pursuant to which the Company has the right to earn a
100% interest in the Sequaney uranium property, which is
comprised of approximately 4,000 acres located in south-
central Quebec. In order to earn the interest, the Company
must pay an aggregate of $545,000 cash and issue 2,000,000
common shares over a three-year period. In addition, the
Company must make an additional cash payment of $500,000 if
an economically viable bankable feasibility study is
completed. For further details, please refer to the Company's
news release dated June 21, 2006.
http://eservices.ccnnewswire.com/news/releases/show.jsp?action=showRelease&searchText=false&...
Interesting...thanx..I think NW is really a bargin at these prices. The next wave up may be underway...
Jun 30 - US$46.00 Uranium Spot Price*
http://www.uranium.info/
Uranium prices continue to climb
Murray Lyons, The StarPhoenix
Published: Wednesday, June 28, 2006
Prices for uranium in the spot market continue to rise rapidly on concerns that western nations have become overly reliant on recycled Russian atomic weapons to fuel power reactors.
According to this week's Scotiabank Commodity Price report for May, the price of uranium climbed to $43 US per pound in late May from $41.50 US in April.
The price moved up again in June, reaching $45 US this month, says the report. That means the previous spot market peak price of $43.40 US reached in 1978 has been surpassed. In real constant dollar terms, however, uranium prices are nowhere near the previous high.
What is more important to the nuclear industry than the spot market is the long-term market, which prices uranium at $46.50 US, according to reports of sales to utilities.
Scotiabank economist Patricia Mohr reports the market expects uranium prices to "almost certainly" reach $50 US by year's end.
According to the analysis, prices are being pushed up by comments out of Russia in which the Rosatom agency says Russia will not renew the HEU (highly enriched uranium) agreement. The agreement puts material from former nuclear weapons, blended into "low enriched uranium," into American power reactors. Experts estimate half of the supply at American reactors has come from the former Russian weapon stockpile.
Saskatoon-based Cameco Corp. and French state-owned Areva Group have been part of the western consortium that has helped deliver that material to the market in an orderly fashion. So far, the equivalent of 10,000 warheads have been converted to peaceful purposes.
The Russians say they will need that HEU material for their own domestic nuclear power generation and to supply fuel for nuclear reactors they plan to sell to other countries, such as China.
One emerging concern is the United States Enrichment Corp. does not have enough capacity to enrich new primary supply at its plant in Kentucky. Enrichment is the second stage of the process of upgrading uranium yellowcake (U3O8) from mines to fissionable fuel.
The first stage is called conversion and is a chemical refining process.
Premier Lorne Calvert will hold a telephone news conference from Paris today to report on talks the provincial government has held this week with the head of the giant Areva nuclear consortium to encourage the French company to build a uranium conversion facility in Saskatchewan.
© The StarPhoenix (Saskatoon) 2006
Online Source:
http://www.canada.com/saskatoonstarphoenix/news/business/story.html?id=74834092-fb8a-4e4a-871a-86a94....
Uranium Boom Just Getting Started
ROB-TV
Wednesday June 28th 2006
3:15 PM ET
The Trading Desk with Pat Bolland
D.R. Barton, editor, EarlyWarning Stock Predictor
Duration: 6 m 33 s
http://www.robtv.com/shows/past_archive.tv?day=wed
Northwestern signs letter of intent for second uranium project in Quebec, Canada
June 21, 2006 09:02:26 (ET)
TORONTO, June 21, 2006 /PRNewswire-FirstCall via COMTEX/ -- Northwestern Mineral Ventures Inc. (NWTMF, Trade) has signed a Letter of Intent to acquire 100% interest in a highly prospective uranium property in south-central Quebec from a private owner. The acquisition area is known as the Saguenay Uranium Property and represents more than 100 claims with a land area of approximately 4,000 acres (1,600 hectares).
"Northwestern is solidifying its position in one of the world's most mining-friendly jurisdictions by expanding our uranium holdings in Quebec. Quebec is well known for its rich mineral resources and for the government's commitment to assist in the development of those resources," said Marek Kreczmer, President and CEO of Northwestern. "A report based on work conducted on the property in the late 1960s by a number of companies, including Opemisca Explorers Limited, indicated the potential for a large tonnage, open-pit uranium operation."
The western Grenville region, which includes the Saguenay area where the property is located, was the focus of uranium mineral exploration and metallogenic studies between 1955 and 1980. Uranium mineralization in the area consists of uraniferous minerals disseminated in the pegmatite and locally in surrounding country rocks. Grades can reach as high as several thousand parts per million U3O8 (uranium oxide).
The Saguenay Uranium Property is located near the mouth of the Saguenay River close to the north shore of the St. Lawrence River, approximately 120 miles (190 kilometers) east of Quebec City. Access to the property is by regional roads, which connect to major provincial highways.
Under the terms of the Letter of Intent, Northwestern will pay C$545,000 in cash installments, including C$45,000 in the due diligence period, and will issue 2,000,000 shares over a three-year period to earn 100% ownership of the project. Shares will be subject to all required regulatory hold periods. In addition, should a bankable feasibility study be completed on the property, Northwestern has agreed to pay an additional C$500,000. The private owner will retain a 2% net smelter royalty (NSR) on the property. Northwestern has the right to purchase one-half of the NSR for C$1,000,000 following the completion of a bankable feasibility study.
The Letter of Intent is subject to regulatory approval, due diligence and environmental assessment. Other terms of the agreement were not released.
ABOUT NORTHWESTERN:
Northwestern Mineral Ventures (www.northwestmineral.com) is an international natural resource exploration company with an experienced management team. The company is focused on properties in Niger and Canada with potential uranium targets. Northwestern also has a precious and base metal property in Mexico. Northwestern is listed on the NASD Bulletin Board under the symbol "NWTMF" and the TSX Venture Exchange under the symbol "NWT."
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.
SOURCE Northwestern Mineral Ventures Inc.
Marek Kreczmer, President and CEO, (866) 437-9551, info@northwestmineral.com
http://www.prnewswire.com
Copyright (C) 2006 PR Newswire.
Yeah this one hit $1.20 and came all the way down. So this may be another cycle up for folks looking for opportunity..
TFN
TFN: I'm looking at all your stocks and this one looks to really have some momentum kicking in. GL!
Northwestern completes airborne survey over properties in Niger; identifies multiple potential uranium targets
TORONTO, June 15 /PRNewswire-FirstCall/ - Northwestern Mineral Ventures Inc. (TSX-V: NWT; OTCBB: NWTMF) is pleased to announce the completion of its comprehensive fixed- wing airborne geophysical survey in Niger, which covered the company's In Gall and Irhazer uranium concessions. Initial results from the In Gall fly-over, which was completed first, have identified several near- surface targets with significant uranium mineralization potential.
'We are very excited by the early findings of our airborne survey over In Gall and we are confident that the results from the second concession, Irhazer, will also reveal strong uranium targets that will warrant further exploration and drilling,' said Marek Kreczmer, President and CEO of Northwestern Mineral Ventures. 'In the coming months, we anticipate the mobilization of a ground crew to conduct surface geophysical testing, which is expected to include mapping, trenching and soil sampling, among other activities.'
Northwestern expects the aircraft to be recalibrated based on the initial results and a second airborne survey to further delineate areas with strong uranium potential is expected to commence in the summer. The radiometric and magnetometric airborne survey conducted in May covered nearly 12,000 line kilometers over each Niger concession, for a total of 24,000 line kilometers.
In Gall and Irhazer cover 988,000 acres (4,000 square kilometers) of highly prospective land within the same stratigraphy as two operating uranium mines that together provide almost 10% of worldwide production. Niger currently ranks as one of the world's top producers of uranium.
ABOUT NORTHWESTERN:
Northwestern Mineral Ventures (www.northwestmineral.com) is an international natural resource exploration company with an experienced management team. The company is focused on properties in Niger and Canada with potential uranium targets. Northwestern also has a precious and base metal property in Mexico. Northwestern is listed on the NASD Bulletin Board under the symbol 'NWTMF' and the TSX Venture Exchange under the symbol 'NWT.'
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
This news release includes certain 'forward looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.
SOURCE Northwestern Mineral Ventures Inc.
Northwestern provides update on Waterbury Uranium Project in Athabasca Basin, Saskatchewan
Monday June 5, 5:00 pm ET
TORONTO, June 5 /PRNewswire-FirstCall/ - Northwestern Mineral Ventures Inc. (TSX-V: NWT - News; OTCBB: NWTMF - News) is pleased to update its shareholders on recent activities at its Waterbury uranium project, located in Saskatchewan's prolific Athabasca Basin. A series of drill holes has been completed on the property and initial results provide indications of strong uranium alteration.
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"Management is pleased with the early findings at Waterbury as they justify our confidence in the property's potential to host significant uranium mineralization," said Marek Kreczmer, President and CEO of Northwestern. "We are currently in the process of conducting geochemical surveys on the core samples that were obtained during drilling. Following the receipt and analysis of the final results, we will be in a position to determine second phase drill targets, which could help us to further delineate potentially significant areas of uranium alteration."
As announced on March 31, 2006, the drill program was designed to evaluate unconformity-related uranium targets at depths of less than 820 feet (250 meters). Final drill results are pending and will be disclosed upon receipt and compilation.
Northwestern signed a Formal Option Agreement with CanAlaska Ventures Inc. to acquire up to 75% interest in the Waterbury Project on November 15, 2005. The nine non-contiguous claims total 30,683 acres (12,417 hectares) and are favorably located in close proximity to several of the world's largest uranium mines.
FIREFLY UPDATE
The Utah Bureau of Land Management has yet to provide Northwestern with a copy of its previously announced environmental study of the La Sal Creek area. Given the significant and positive progress that Northwestern is experiencing at Waterbury and at its other uranium properties in Niger and Quebec, the company's management team has elected not to proceed with the Firefly Project in Utah. As an option holder in the property, Northwestern will not incur any financial penalties in association with this cancellation.
ABOUT NORTHWESTERN:
Northwestern Mineral Ventures (www.northwestmineral.com) is an international natural resource exploration company with an experienced management team. The company is focused on properties in Niger and Canada with potential uranium targets. Northwestern also has a precious and base metal property in Mexico. Northwestern is listed on the NASD Bulletin Board under the symbol "NWTMF" and the TSX Venture Exchange under the symbol "NWT."
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.
--------------------------------------------------------------------------------
Source: Northwestern Mineral Ventures Inc.
TORONTO, May 31, 2006 (Canada NewsWire via COMTEX News Network)
Northwestern Mineral Ventures Inc. (TSX-V: NWT; OTCBB: NWTMF) today announced that Marek Kreczmer, M.Sc. (Geo), P.Eng., has assumed the role of Chief Executive Officer of the company, subject to TSX Venture Exchange approval. Mr. Kreczmer, who was named President of Northwestern in October 2005, is an accomplished mining professional with extensive experience in uranium exploration and development. He succeeds founding CEO Kabir Ahmed, who remains with the company in an executive capacity as Chairman of the Board of Directors. Northwestern has also restructured its Board with the addition of three respected geologists to reflect the company's focus on strengthening its position as an active uranium explorer.
"As Northwestern concentrates on the development of our highly prospective uranium portfolio, we will benefit from Mr. Kreczmer's direction and technical expertise, as well as the depth of knowledge that the new directors will bring," said Kabir Ahmed, Chairman of Northwestern. "Our team's considerable African mining and development experience and extensive network of regional mining contacts will assist Northwestern increase its independence from other uranium exploration firms operating in the Republic of Niger."
Mr. Kreczmer is a 30-year veteran of the mining industry and has worked for major and emerging companies focused on uranium, base and precious metals, including uranium producer Cameco Corp. He also has extensive experience in corporate governance and administration through his work as a current and former director of several publicly listed mining companies.
Founding CEO Kabir Ahmed will continue as an active and valued member of Northwestern's executive management team as Chairman of the Board and will provide the company with legal, regulatory and corporate guidance. Mr. Ahmed served as CEO of Northwestern from its incorporation in September 2003, and under his leadership, Northwestern successfully secured its current property portfolio and recently completed a financing of approximately C$18 million.
"We would like to thank Mr. Ahmed for his tireless efforts in helping to build a strong, well-financed publicly traded company," said Mr. Kreczmer. "We look forward to his continuing contributions as we advance Northwestern to its next phase of growth."
BOARD RESTRUCTURING
Concurrent with the appointment of Marek Kreczmer as CEO, and subject to regulatory approval, Northwestern has appointed three respected geologists to its Board of Directors:
- Anton Esterhuizen, M.Sc., B.Sc. (Hons), is an experienced geologist
renowned for his extensive experience in Africa. Among his career
highlights, he is credited with the discovery and evaluation of the
Xstrata Group's world-class, high-grade Rhovan vanadium deposit in
South Africa, the re-evaluation of the sizeable Burnstone gold
deposit, also in South Africa, and a number of Tanzanian gold
deposits, which attracted major mining companies to that country.
- Simon Lawrence, MBA, B.Eng. (Hons), is an industry veteran whose
background includes work with numerous publicly listed exploration
companies across Africa and Europe, including Anglo American
Corporation, South Africa (NASDAQ: AAUK), and most recently as Vice
President of Corporate Development for Gabriel Resources Ltd.
(TSX: GBU), for which he raised a total of C$200 million over five
years. Mr. Lawrence also worked as a mining analyst for HSBC James
Capel (now HSBC Securities) from 1995 to 1997.
- Currently the President of Vault Minerals Inc., Joseph D. Horne has
worked in the mining industry for more than 20 years, spanning
exploration and project development in both underground and open-pit
production environments.
Northwestern would like to thank Wayne Beach, Jon North and J. Scott Waldie for their significant contributions to the growth and development of the company and for their dedicated service as they retire from the Northwestern Board of Directors.
ABOUT NORTHWESTERN:
Northwestern Mineral Ventures (www.northwestmineral.com) is an international natural resource exploration company with an experienced management team. The company is focused on properties in Niger, the United States and Canada with potential uranium targets. Northwestern also has a precious and base metal property in Mexico. Northwestern is listed on the NASD Bulletin Board under the symbol "NWTMF" and the TSX Venture Exchange under the symbol "NWT."
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the worldwide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.
SOURCE: Northwestern Mineral Ventures Inc.
Kabir Ahmed, Chairman, (866) 437-9551, info@northwestmineral.com
Copyright (C) 2006 CNW Group. All rights reserved.
InvestmentU.com: While the World Worries About Oil, Uranium Prices Hit Record High
Monday May 29, 6:13 am ET
BALTIMORE, May 29 /PRNewswire/ -- It's not receiving as much publicity as oil, gold, silver or copper (all of which have recently set multi-year price highs), but uranium may well be the commodity of the decade.
Uranium prices just set a new record high of $43 per pound, capping a remarkable 437% rise since 2000 when it cost just $8. In 2005 alone, uranium demand outstripped supply by around 100 million pounds.
With an increasingly urgent need for America to reduce its "addiction" to Middle East oil, Dr. Mark Skousen, chairman of respected financial e-letter Investment U (http://www.investmentu.com), says, "The trend is still upward for uranium." Governments and corporations are already spending billions searching for viable alternative energy sources. And while solar power and ethanol fuel have seen advances, neither will meet current global energy demand.
But Dr. Skousen says nuclear power is the one resource available to meet growing electricity demand throughout the world and could become the world's preferred fuel.
According to the Nuclear Energy Institute, nuclear power already supplies 19.9% of electricity used in America and 17% across the world. With the federal government working to build new plants across the nation, that could easily double as a percentage of total electricity supply over the next few years.
Russia has also unveiled plans to build 24 additional nuclear reactors, and China has scheduled building over 30 reactors (two 1000-megawatt plants every year for the next 20 years). Worldwide, there are 160 power plants proposed or currently under construction.
Further upside could come from British Prime Minister Tony Blair, who recently endorsed new funding and expansion for the UK nuclear industry.
In a speech to the Confederation of British Industry, Blair stated that replacement of Britain's nuclear power stations is "back on the agenda with a vengeance." He claimed it would be "a dereliction of my duty" if he neglected the issue, citing global warming, energy security and the high cost and unreliability of wind and solar power as key factors.
The developments mean uranium's record high could merely be the beginning - especially considering that uranium sold for an inflation-adjusted high of $98 per pound in the early 1980s, far below current record highs around $43.
For investors, it also means uranium could hold considerable profit potential, given that it's cheaper and more efficient than coal and natural gas.
For more information on uranium bull market and the opportunities within it, please visit this link:
http://www.investmentu.com/uranium.html
Investment U - an educational investment e-letter - brings dynamic market information to more than 300,000 subscribers each day. http://www.investmentu.com
For more information about our editors, or to set up an interview, please contact Juan Munoz at 410.223.2693 or jmunoz@investmentu.com, or visit: http://www.investmentu.com.
I agree....I like NW..
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