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Uranium on the Rise -
posted on: February 17, 2008 |
about stocks: CCJ / DNN / STHJF.PK / SXRZF.PK / UREGF.PK / URZ / MSAUF.PK
The past nine months have been very rough for investors in uranium equities, and our long-term chart for the Canadian Uranium Average fully supports this statement, but it appears as though the industry has bottomed and is now on its way up.
Our index fell all the way down to 141.87 on February 8, 2008 from a high of 325.915 on August 9, 2007 and the losses were across the board with only a few winners in that time-frame.
As you can see by the chart below, it appears that in the past week we tested lows set in late January, pretty much held those levels with minimum further movement to the downside. Now uranium equities are moving upwards to test the recent high set on January 24 of this year. If we can get through that level we can move much further as momentum is currently on our side with Cameco (CCJ) recently being upgraded and all things considered a commodity are moving strongly upwards.
We continue to like the new producers, such as Uranium One (SXRZF.PK), Denison Mines (DNN) and Paladin (PALAF.PK) as well as those who will be bringing projects online in the near future including, but not limited to, UR-Energy (UREGF.PK), Uranerz Energy (URZ) and Strathmore Minerals (STHJF.PK). The newest producers are able to get the highest prices in the industry for their uranium output and they have some of the most favorable terms in the industry in their supply contracts. These newest producers are able to effectively sell their output at almost triple the price, on average, that their larger brethren are able to get due to the latter's legacy contracts.
So although the spot price has declined by nearly 50%, the companies making the most from their output are the new producers. One important note is the fact that Cameco, Energy Resources of Australia and the like will be able to increase profits each year just by signing new contracts which expire (however they need to keep production at current levels to reap the benefits from their rising contract prices which neither CCJ or ERA have been able to do for various reasons).
The companies bringing projects online in the next two years excite us due to the fact that they get to create these favorable supply contracts with the utilities while prices are good and beat everyone to the market before the supply/demand ration begins to deteriorate (which should occur around 2012-2015 when many projects are expected to come online). We suspect that many of the end users are waiting until this period to make their large purchases and are just trying to tread water at this time in order to make it until prices are lower, however if the current building spree of nuclear power plants continues then the shortage of uranium could last many years longer.
For those who missed it, The Wall Street Journal ran an article on the front page discussing China and their need to build new coal plants to meet their power demands recently. For those who miss the irony here, let us explain the significance for you.
First they have a pollution problem which is out of control and coal certainly is not going to alleviate the problem.
Second, they are merely building power capacity to meet today's (not literally, but their present needs-meaning what they see is needed for the coming 18 months or so) needs and not taking into account the fact that they are going to need exponentially more power the more they modernize.
The higher their quality of life rises, the more power each individual uses and one must not forget that China is modernizing the whole country so not only is the quality of life going up for the individual, but more and more people's lives are improving as the country builds new housing for old neighborhoods and cities. In short their current modernized population is still experiencing growth in their quality of life while at the same time their building spree and increased employment is increasing the pool of their modernized population!
The only way to meet their future needs for power (that is without having to have a coal power plant in each neighborhood!) will be to increase their already ambitious building plans for nuclear power plants. It is important to realize that each of these plants will require a fixed amount of uranium each year, and even more important is the fact that in their first year they will require even more uranium due to the fact that it requires more to fire up the reactor for the first time, plus the need to build an initial stockpile. We can picture this as being a multi-generational movement as it takes years to build nuclear power plants in the Western world and there really is no end in sight for power consumption with today's Digital Age running full steam.
The current environment seems to favor those will a will and a want to hold these securities for a few years out as there seems to be good news in the pipeline. After all, why in the world would China and Japan be so interested in signing all of these uranium exploration deals if they were not seriously interested in creating large nuclear industries in Asia? We should know by Monday whether we have gotten above our resistance level in the index so as to move higher across the board. Until then, good luck and happy investing.
Matthew Smith
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MSAUF.PK MESA URANIUM CORP Pink Sheets
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Melt-down Time For Uranium Stocks?
By James West
http://www.midasletter.com
The market has been unkind to junior resource stocks for the last several months, but it has reserved special treatment for uranium juniors, whose management are sounding increasingly depressed and suicidal.
The reason is plain to see – the price of uranium is heading south in a hurry, and that has many investors asking, “What exactly is the condition of uranium fundamentals now?”
Cameco, perhaps the best corporate bell-weather of the uranium business, has seen its shares fall 18% so far in 2008, and 26% in the past year.
Ian Howat, senior National Bank Financial mining analyst, has dropped his forecast price for uranium in 2008 to $110 a pound from $120. It gets worse – by 2012, he says it will drop to $75 a pound.
So what happened to the “Nuclear Renaissance” that was supposed to lead the world out of Greenhouse Gas purgatory and into a low cost, low emissions energy future?
It just hasn’t happened quite as fast as some would have had you believe.
The reasons for that reality are numerous, and here’s just a few:
1. Supply is ample to meet anticipated demand, given existing operating mines’ ability to increase current high grade production;
2. The problems associated with uranium mine tailings are not easily solved, so public backlash against new uranium mine permitting will be commensurate with the proposed mine’s proximity to population. The greater the density, the stronger will be the opposition.
3. The sheer volume of junior resource companies who have been falling all over themselves to hoist the uranium flag suggest an eventual surplus of global inventory that will make the arms race surplus puny in comparison.
4. There is increasing evidence to support the fact that hydrogen is going to power the infrastructure of the future, along with wind, solar and other greener fuels that don’t come with the radioactive baggage of spent nuclear fuel.
5. The biggest consumer – well actually the ONLY consumer of uranium – is nuclear power plants. If you think resistance to new uranium mines is substantial, just imagine if you received word that “they” wanted to build a nuclear facility next to your house. Though there are 34 under construction worldwide presently, the permitting process is probably the most cumbersome.
6. The other problem with new nuclear plants is they are notorious for being delayed again and again and again, and in the meantime, other power sources fill the gap. The only thing outstripping the rate of new nuclear power permitting is the rate at which these plants are being decommissioned around the world.
There is a also major disconnect between the “spot” price for uranium, and the price uranium miners are receiving for their output. In its most recent report, Cameco, Canada’s largest miner of yellowcake, said it received an average of US$38.92 a pound, while in Australia, Energy Resources only got an average of US$25.06.
That’s because while there is a spot price for uranium, there is no substantial spot market. You can’t go to the local coin dealer and buy a 1, 10, or 400 ounce bar of U3O8.
This represents a huge discrepancy. In the gold market, miners receive much closer to the spot price for their product, because there is far more liquid market for gold.
Gold, after all, is the only true global currency, and every day people convert paper currencies into gold to protect their wealth.
So is it time to dump your uranium juniors and forget about them?
Not so fast. The run-up in uranium prices can be likened to tech stocks in 1999. Nobody knew how to evaluate the demand, and but the internet was so new, the hype induced the “fear of missing out” part of the herd mentality, and the stampede was under way.
After the crash, the stampede went in the other direction, and even companies with value in the form of earnings and dividends were sold down to fractions of their values. Now, internet technologies are better understood, and its much harder to hype the reality.
The current uranium phenomenon is in the second phase of the same sort of cycle, where everybody panics and indiscriminate dumping is the result.
There are a lot factors that yet point to a sustained growth in the importance uranium will play in our energy future.
Consider:
* The French company Areva, the world's largest builder of nuclear reactors, forecasts that 150 to 300 nuclear reactors will be built in the world from now to 2030. At least 50 of them will be built in China and India.
* In a move to secure energy supplies and tackle climate change, the U.K. government sanctioned the construction of six nuclear reactors set to be operational by 2020, that would replace an aging fleet of 19 power stations that supply around 18 percent of Britain's electricity needs.
* The South African government has declared nuclear energy to be a big part of its new power-generation capacity build programme, with 25 000 MW additional nuclear power-generation capacity to come on stream by 2025.
So no. Its not the end of the game for junior uranium explorers by any stretch. If anything, it’s a buying opportunity for the quality deals with good grades and pounds in the ground, been-there, done-that management, and close to infrastructure but away from populations with a tradition of eco-opposition.
Its really just bad luck that spot uranium prices are dropping at the same time the sub-prime foofooraw beats on everything with the ugly stick.
Radioactive heatstroke -
Speculators and hooligan investors have taken a brutal beating on
uranium stocks, but the hell may be cooling off.
Author: Barry Sergeant
Posted: Thursday , 07 Feb 2008
JOHANNESBURG -
The average listed uranium stock has lost nearly two-thirds
of its value in the past 12 months, routing unruly hordes of bloodied speculators and hooligan investors. Where boring commodities such as iron ore continue to be the superheroes of the China-driven commodity supercycle, uranium has proven to be
a merciless skull cracker.
Running on the likely reality that dire global energy requirements would generate an entire new generation of nuclear power stations, the uranium oxide price moved up from around $7/pound eight years ago to a peak of $136/pound in late June, 2007. During January this year, spot uranium prices fell by $15/pound; this week, quotes were around $75/pound (down $3/pound on the previous week), according to Ux Consulting, a specialist uranium consultancy; peer group Trade Tech this week also quoted $75/pound (down $7/pound). While the long term expectation for both Ux and TradeTech remains at $95/pound, ongoing downward price pressure continues to dominate market sentiment.
There has been a smidgin of good news for bloodied investors in uranium stocks, courtesy Cameco (CCO CN, C$32.25 a share), the world's biggest producer of the stuff. During a results conference call this week, the company spoke with confidence about the level of valuations in the global uranium stock sector. This has led some analysts to ask whether Cameco might be looking around for acquisitions.
There may be a number of useful lessons from the relatively short, post-2000 history of uranium stocks. One of the handy case studies is supplied by Xemplar Energy (XE CN, C$3.17), which as recently as October last year traded below $2 a share. The stock price cleared the $8 per share level less than two months ago; since then, it's retrenched by nearly two-thirds.
At the time of its peak stock price, Xemplar, an explorer, was still waiting for assay results from drill cores submitted in December 2007. The samples, from 13 holes at Xemplar's Warmblad prospect in Namibia , were dispatched to Set Point Labs in Johannesburg . On 18 December 2007, Xemplar announced that it "believes it has effectively discovered a new uranium province in the Warmbad area, with the identification and delineation of over 14 large mineralized alaskitic bodies that outcrop in an area of approximately 40 kilometers by 28 kilometers".
While speculators noted that Xemplar had only been around for a year, it was equally noted that it had secured chunks of ground from Namibia 's northern border with Angola to the southern border with South Africa . A note after a site visit from Canaccord, an investment dealer, discussed six distinct mineralised radiometric alaskite bodies, about 12km apart, within an area covering 40km by 12km.
Inevitable market rumours of a "takeover approach" had it that the world's most conservatively managed mining company, (RTP LN, £52.35), and the world's No 2 uranium producer after Cameco, and owner of Namibia's Rössing uranium mine, may have been lurking in the wings. Xemplar was on the boil and in the first week of 2008, a recent addition to the UK broking scene, Fairfax rated it as a "world class uranium opportunity". Fairfax anticipated that "a major such as Rio Tinto, Areva or a Chinese" [entity] could be lining up to swallow Xemplar.
Ahead of even the first drill results from Warmbad, Fairfax gleefully put a potential valuation on Warmbad of US$2-7bn, based on a potential of 20bn tons of uranium oxide at 100 ppm (parts per million). These dreamy numbers dwarf Rössing. On these numbers indeed, Warmblad ranks as the biggest of its kind in the world by a factor of five to ten. When Xemplar finally published its first drill results Thursday, 8 February, the numbers looked fine, but the stock price drifted downwards.
At current stock prices, Xemplar carries a market capitalisation of just US$356m, a far cry from the mind-numbing figures spun out through the market over the past couple of months. Listed uranium stocks offer further brilliant case studies, such as Uranium One (UUU CN, C$6.35), which previously used loads of its heavily overvalued paper to mount a series of acquisitions that don't look very sexy anymore. For now, the bottom line is that uranium stocks may have reverted to reflecting some degree of fair value, but don't expect professional investors to come in until the drench of poor sentiment has lifted.
God Bless
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DNN at botom fishing -
Denison Mines Corp (DNN) $ 6.48 -0.06 (-0.92%)
Volume: 224.78 k 3:59 PM EST Feb 6, 2008
Uranium Boom Echoes in Atomic Minerals’ Colorado Exploration
By Katherine Young
December 21, 2007
With energy demand predicted to increase and continued serious concern about the consequences of burning fossil fuels, experts are predicting nuclear will remain an important world energy source for the foreseeable future. Increasing nuclear energy demand prompted a uranium spot price high of $138.00/lb this summer, which then dropped back to the $80 mark and has since regained to about $92.00/lb. Many are speculating that the price could remain flat at $90/ pound. Cognizant of the profits available at prices like these – the price has tripled in about three years – uranium juniors like Atomic Minerals are returning to known uranium zones like Utah and Colorado.
Statistics from the US government’s Energy Information Association’s (EIA) 2007 World Energy and Economic Outlook noted that world electricity generation from nuclear power is forecasted to increase dramatically from 2,619 billion kilowatt hours in 2004 to 2,972 billion kilowatt hours in 2030. And the EIA expects nuclear power generation to increase through 2030 around the world, except OECD Europe, with the Asian market creating the biggest growth.
In addition worldwide nuclear power generation outside of the OECD is expected to increase 4% year on year, between 2004 and 2030. This increased demand, driven by environmental concerns, higher fossil fuel prices and energy security concerns could send the uranium price back upward in coming years.
On the supply side, there is Cameco’s Cigar Lake, which was to come online right about now with an estimated 113 million pounds of the yellow stuff – until the underground workings flooded. This major supply of uranium is showing no signs of coming back online until at least 2011.
Some analysts suggest that even that date is optimistic. Cameron French writing for Reuters on December 12, 2007 said, “With [the Cigar Lake] mine expected one day to supply over 10 percent of the world's mined uranium, any further [beyond 2011] delays starting production would put upward pressure on uranium spot prices that have already hit a record high earlier this year.”
Buoyed by high uranium prices and price predictions, Atomic Minerals (TSX.V: ATL) is putting its experienced team together with geology in southwestern Colorado that is associated with some of the largest and most prolific uranium resources in US history.
Atomic’s Dolores Anticline project is located in the Paradox Basin and the Uruvan Belt only 30 miles from the famous Lisbon Valley in Utah, and only 30 miles from Denison Corp’s White Mesa Mill, the only operating uranium mill in the United States. The Dolores Anticline is in the four corners uranium area made famous by Charlie Steen who discovered a massive, highly-enriched uranium deposit, which became the Mi Vida Mine in the Lisbon Valley, Utah in 1952. Steen’s was the first massive find in the uranium boom of the 1950’s prompted by government support of the industry to fuel the Manhattan Project during World War II.
Uranium was so prolific in the area in the 1950’s that Moab, Utah earned a reputation as the uranium capital of the world. By 1955 the Colorado Plateau was home to 800 uranium mines. By the end of the boom in 1962 Utah had produced over 9 million tonnes of ore before the government-boosted boom ended with dwindling demand due to the end of the war.
Picking up where history left off, Atomic’s Dolores Anticline project consists of 1,177 claims in the area, totalling 24,280 acres in the Dolores Anticline, an asymmetrical northwest trending fold in the Paradox Basin.
An anticline is a fold in the layers of rock that pushes the earth up into a dome shape. The folding can create gaps – known as traps – where oil, natural gas and uranium tend to gather.
Utilizing existing literature on the area, geological analysis and a radon survey, Cady Johnson, PhD author of a Feb. 2007 NI 43-101 technical report on the Dolores Anticline project, concluded, “It is clear that there is good potential for undiscovered uranium deposits to exist beneath the properties considered here. Fractures known to have been conduits for mineralizing solutions, carbon-facies rocks that host all known uranium deposits in the Slick Rock and Lisbon Valley Districts, and paleochannels in the Moss Back Member of the Chinle Formation are all present or judged to be present beneath the subject claims.”
Following recommendations from the 43-101 report, Atomic Minerals began drilling on the first transect of the Dolores Anticline in mid-November 2007. Atomic plans a 30,000-foot program at the Summit Point and Box Canyon Exploration Projects
To add to great properties, Atomic Minerals has attracted some of the best people in the business to join its team. On December 19, Atomic announced it has appointed John J. Sutherland as a director of Atomic Minerals. Sutherland is best known for his advisory role with growth companies – with particular emphasis on mineral exploration companies – and appears to have a Midas touch.
Sutherland serves as a director with Aquiline Resources (TSX:AQI), the sole owner of the Navidad Silver-lead deposit, which contains an astounding 453 million ounces silver and 3 billion pounds lead, making it the largest resource of its kind in the world. Aquiline’s recent court success in procuring sole rights to that property is a major coup for both the company and Sutherland.
Notably, Sutherland was CFO of Arequipa Resources leading up to its acquisition in 1996 by Barrick Gold for $1.1 billion. He also co-founded and acted as Vice President and CFO of Tekion Inc., which he grew from 4 to 75 employees in the space of less than three years while raising $18 million in capital.
At present, Sutherland is Vice President and Chief Financial Officer of Goldgroup Resources, Corporate Secretary of Uracan Resources and a director of four other publicly listed companies.
Atomic’s Vice President of Exploration, Richard Dorman has extensive history mining for uranium in Colorado, Wyoming, Utah and Nevada. He works with Mark Steen (the eldest son of Charlie Steen) actively exploring in various areas in the Lisbon Valley. He has recently attracted the attention of James Finch, a US based uranium pundit who said of Dorman’s projects in the Lisbon Valley, “the area is right, and it may be ripe for a discovery.”
If so, Atomic has all the right ingredients – an experienced exploration team, financial leadership, connections within the uranium industry and properties in one of the best-known and most prolific regions in the United States. Also attractive is Atomic’s tight share structure and a price tag that flirts promisingly with its 52-week low.
Investors can expect results from the first portion of the drill campaign at the Dolores Anticline to be announced early in 2008.
This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.
To 'mick' on 'Uranium Exploration' -
dd....
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God Bless
San Juan County was the source of 83% of the one
hundred and eleven million pounds of U308 produced in Utah -
up until 1982, together with 60 million pounds of vanadium....
dd....
Russell Industries, Inc.
9595 Six Pines
The Woodlands, TX 77390 USA
CEO/ Richard M. Berman
Phone: 832-631-6000
Fax: 281-298-9055
Email: Rusind@aol.com
Website:
http://www.ru308.com/
A Nevada Corporation.
http://investorshub.advfn.com/boards/board.asp?board_id=7773
San Juan County was the source of 83% of the one
hundred and eleven million pounds of U308 produced in Utah -
up until 1982, together with 60 million pounds of vanadium....
dd....
Russell Industries, Inc.
9595 Six Pines
The Woodlands, TX 77390 USA
CEO/ Richard M. Berman
Phone: 832-631-6000
Fax: 281-298-9055
Email: Rusind@aol.com
Website:
http://www.ru308.com/
A Nevada Corporation.
http://investorshub.advfn.com/boards/board.asp?board_id=7773
Universal Power Sparks Investor Interest with its Newest Uranium Acquisition in Tanzania
By Hsiao Lin
http://www.resourcexinvestor.com/news.php?id=2935
Universal Power Corp. (TSX.V: UNX, FSE:3U2A) is beginning to catch fire in the minds of investors as it picks up speed with its latest acquisition in Tanzania’s Karoo super group – and prepares to release its 43-101 and the outline for the property’s drill program.
The company’s website describes its recent acquisition of a 90% interest in two key acquisitions with uranium potential in Tanzania. The Madaba and Mkuju prospects cover over 1000 km2 along the extension of the Malawi Kayelekera Uranium zone that Paladin Resources (ASX, TSX.V:PDN) has been developing over the last few years.
Located on map section QDS (Quarter Degree Sheets) 253, the Madaba area is part of Luwegu River Basin of the East African Karoo super group. The Karoo is the African equivalent of the Canadian Shield – a very large, very old geological formation that has been the scene of numerous, rich mineral discoveries.
The Mkuju occurrence is situated in QDS 278/3, 289/1 & 2 and 290/1. The geology consists of mainly sandstone. The richest uranium deposits are typically found in sandstone formations, and are known as roll-front deposits – so named for the crescent shape the uranium (in solution) makes at the interface between oxidizing and reduction conditions within the permeable sandstone or conglomerate host rock. Famous examples of roll front deposits include the Mi Vida mine near Moab, Utah, and the deposits found on the Colorado Plateau. The Karoo super group is known to host major uranium deposits (of both the roll-front and unconformity variety), yet much of it remains underexplored.
The Karoo system in southern Tanzania continues into Malawi and is separated by Lake Nyasa, with the Karoo on the other side of the lake having similar geology. This has been confirmed with Paladin’s discovery of the Kayelekera Deposit (a roll-front deposit), which has a 43-101 compliant current resource of over 25,000,000 pounds of U3O8 . Paladin has recently had its bankable feasibility study approved, and is due to go into production in late 2008.
Historic airborne and ground radiometric surveys carried out over Universal Power’s entire property have revealed over 10 Uranium and Thorium anomalies at Mkuiu. Drilling done by Geosurvey International (GmbH) has returned intersections grading 0.04% Uranium oxide over 11.7m – the richest of which contained 0.122% Uranium oxide over 1.6m from a depth 79.5 to 81.1m.
The company is in the process of completing its 43-101 report on the prospects and expects to have it in hand by the end of the month. A drill program based on the report’s recommendations will be implemented in November.
Tanzania has attracted a great deal of attention recently due to a combination of factors that create a favourable investment climate: inherent mineral wealth, political reforms geared toward the free-market, low labor costs, and, of course, high metals prices. According to the Tanzanian Geological Survey’s website, “much of the present exploration activity in Tanzania is concentrated in gold, base metals, platinum group metals (PGM), uranium, gemstones, diamonds and industrial minerals. Tanzania has excellent geological databases, good infrastructure, attractive mineral policy and readily available exploration services. These factors make investing in Tanzania attractive and cost effective”.
The meteoric rise in uranium prices from $7.00/lb U3O8 in December 2000 to US$138.00/lb U3O8 in June 2007 has turned investors’ attention to new exploration venues, making Tanzania especially interesting as of late. Paladin’s website states that “despite the significant rise in reported uranium prices, world primary uranium production only increased by 2,540 metric tons U3O8 (5%) in calendar year 2005. In fact, in the first six months of 2006, uranium production in the two dominant production centers, Canada and Australia, actually declined by 2,610 metric tons U3O8 (19.5%), demonstrating the fragility of the existing supply chain.”
The Tanzanian acquisitions represent a pivotal point in Universal Power’s development, as it rounds out the company’s portfolio of properties, enabling the company to conduct a year-round drilling program.
For several reasons, this is a particularly auspicious time for investors, who can expect a great deal of news in the coming months. This most recent acquisition, as well as the impending 43-101 and drill program, create a solid platform for the next stage of the company’s growth and diversification. Investors can also look forward to another acquisition – a polymetallic prospect – in the next month or so. The market is reflecting this anticipation, as UNX is trading around its 52-week high, in the $0.70 range.
“We think we have a well-diversified portfolio chasing gold, uranium, and base metals,” said Barry Swanson, the company’s president and CEO. Given that the uranium market outlook is predicted to remain strong during the mid to long term, management plans on continuing its momentum forward. “From a shareholder’s point of view, we’re well positioned in area plays. We have a strong management team....the timing’s right, we’re diversified enough.” said Mr. Swanson.
The company is also exploring for uranium and IOCG (iron ore, copper, and gold) in the Great Bear Lake area of the Northwest Territories, as well as for uranium in the Sibley Basin in northwestern Ontario.
This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.
Atomic Acquires Uranium Potential on Shores of Lake Nyasa, Tanzania
By Sylvia Young
Atomic Minerals (TSX.V ATL) is applying some old real estate wisdom to its newest uranium acquisition in Tanzania: location, location, location – as well as a room with a view. This thinking nets the company over one million acres of prime ground in an area known for hosting sizeable uranium deposits.
As per its October 3rd press release, Atomic has signed an amended letter of intent (LOI) with Geo Can Resources Company Ltd. to acquire up to 90% interest in over 1,300,000 acres of uranium property in southwest Tanzania divided into 10 separate licenses. As a result of this amendment, Atomic stands to double the size of its holdings in Tanzania.
In addition to the non-refundable deposit of US$65,000 which the Company already paid Geo Can on July 25th, Atomic paid Geo Can US$300,000 on execution of the amended LOI as well as reimbursing Geo Can for land registration fees of US$42,000.
The agreement is subject to the results of Atomic’s due diligence on the Property (including the preparation of a title opinion and a Technical Report pursuant to National Instrument 43-101) and TSX Venture Exchange (“TSX-V”) approval. The property will also be subject to a 2% NSR royalty, which Atomic may buy out at any time for US$5 million.
The property is located on the on the shores of Lake Nyasa (which, in neighboring Malawi, is known as Lake Malawi) and extends into the Ruhuhu Basin in southern Africa’s vast Karoo Basin system – an area known to contain significant sandstone-hosted roll front deposits. Roll fronts are found around the world and are the type of uranium deposit mined by the in-situ leaching method. Famous examples of roll fronts are the Colorado Plateau and the world-class Mi Vida, near Moab, Utah. The southwestern part of Tanzania offers investors several possibilities for uranium discovery due to the fact that the Karoo Basin and the Usagaran-Ubendian belt host a number of different types of uranium deposits, the most economical of which are roll front and unconformity “vein” type.
Radiometric surveys carried out by Geo Can on the property indicate the potential for uranium. Several anomalous hits of over 3100 cps (cycles per second), including one of over 5000 cps have been recorded.
Other mining companies exploring in the area include Paladin Resources (Malawi), Universal Exploration and Western Metals (both in Tanzania). Located across Lake Nyasa, just 60 km from Atomic’s property PL4514 is Paladin’s Kayelekera Project (a roll front deposit), which has a current resource of over 25,000,000 pounds of U3O8 and is due to go into production in late 2008.
Western Metals, an Australian explorer whose Mtonya property is located in a neighbouring Karoo sequence east of Atomic’s Ruhuhu ground, has recently returned drilling results showing multiple thick subsurface uranium mineralized zones with initial assay results showing high-grade peak intersections of 7 metres at 1,233 ppm U3O8 (including 3 metres at 2,607 ppm U3O8).
High uranium prices have encouraged investors to broaden their horizons and to recognize opportunities farther afield. According to Western Metals, Tanzania represents a worthwhile investment. “Tanzania has an annual growth rate of 5.8% since 2006. The Mining Act of 1998 legislated a clear exploration and mining regime that guarantees against nationalization and expropriation with a fair, predictable tax regime. A Chubb Group World Risk Survey in 2006 had Tanzania in the 10 lowest investment risk countries.”
The Tanzanian government’s Department of Mines section of the national website showcases the government’s efforts to create an investment-friendly climate. It “mark[s] a clear shift in favour of private sector development and market-oriented economic management. With this effect the government has commenced on setting up constructive partnerships to promote private sector enthusiasm and accelerate economic growth. With these changes therefore, the roles [sic] of the government has been redefined from that of owning and operating the mines to that of providing a clear policy guidelines, stimulating private investment and providing support for investors.”
The company plans to complete a 43-101 report on all ten Tanzanian properties by November 1st, with the subsequent initial exploration program to be based on the report’s recommendations. A drill program will follow as soon as possible (prior to year end). Atomic’s near and mid-term goal is to continue to acquire additional land in the Ruhuhu Basin area and along the shore of Lake Nyasa, directly across the lake from Paladin’s Kayelekera Project Deposit. The company also seeks to build alliances and partnerships with key players in the area.
This pick has several advantages: Atomic’s property shows strong uranium anomalies in an area known to host big uranium deposits; it’s within close proximity to a proven reserve that is slated to go into production next year; and it’s in a country with a mining-friendly political climate. The icing on the [yellow]cake consists of high uranium prices projected over the long term, balanced with low labour costs and a reasonable taxation regime – all highlighting a profitable production scenario.
Uranium’s jump from US$7.00/lb U3O8 in December 2000 to US$138.00/lb U3O8 in
June 2007 served as a wake up call to investors. Decades of underinvestment, a lack of exploration, and strict regulations have led to a crippling worldwide supply shortage. The recent slump to US$78/lb is seen as a short term phenomenon, as there is a significant shortage of uranium mines in the pipeline for the near future. As the tide of public opinion continues to shift toward a more positive view of nuclear energy – due to its ability to produce large amounts of stable electricity output with minimal environmental costs – the need to delineate rich uranium reserves in politically stable environments grows more apparent.
In keeping with its focus on discovery and development in areas known for uranium mineralization, Atomic also has projects with work in progress in Delores, Grand, and San Miguel Counties, Colorado.
See the more documentation on Atomic Minerals and the company’s projects at www.atomicminerals.com.
This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.
Uranium has reversed and is headed upwards now and
past old highs. Time to be buying is now....
http://www.u3o8.biz/s/MarketCommentary.asp?ReportID=270055&_Type=Market-Commentary&_Title=Spot-price-benefits-from-producer-woes
The Germans call it Schadenfreude. Loosely translated, it means taking
pleasure from the misfortune of others. And it's safe to say that's
just what many uranium companies and investors were feeling Wednesday,
when two of the metal's biggest producers went public with their
troubles.
First, shares of Uranium One Inc. plummeted $2.24, or 17.6 per cent,
to $10.49 on heavy volumes of 74.6 million trades Wednesday. That's
because the Toronto-based uranium producer, gunning for top spot in a
market dominated by Cameco Corp., drastically lowered its production
forecasts.
Expected production dropped to 2.1 million pounds from 2.5 million
pounds for 2007 and 4.6 million pounds from 7.4 million pounds in
2008. For 2007, that's a drop of 16 per cent, blamed on delays in
commissioning equipment at Uranium One's Dominion Reefs plant in South
Africa.
And come next year, the company expects a drop of nearly 38 per cent;
it says sulphuric acid shortages at its Kazakhstan projects are to
blame. Sulphuric acid is mixed with ground uranium ore to extract the
metal during production.
Uranium One CEO Neal Froneman told South African radio program
Moneyweb that dropping production levels are further exacerbated by
large capital cost increases at the company's Honeymoon site in
Australia. The company must now redesign the plant; production was
meant to start in early 2008; but has been delayed until the end of
that year.
An interesting aside: you may have seen Uranium One in the news a few
days ago, when it bought an entire town in Utah. The company bought
Ticaboo for US$2.7 million after buying a mothballed uranium mill in
the area. The Canadian Press reported the property to include RV
parks, housing infrastructure, a restaurant and convenience store.
In any case, rival uranium giant Cameco Corp. had no time to
celebrate, given news of further delays at the company's beleaguered
Cigar Lake mine.
The flooded mine was supposed come online this year, but repairs are
taking longer than expected. It is now projected to reopen in 2011 at
the earliest. Last year's closure of the mine was one of the factors
that helped uranium's spot price jump to $138 a pound last summer.
Cameco's stock fell $1.63, or 3.4 per cent, to $46.55 on Wednesday.
The company also posted impressive third-quarter sales, but said it
expects fourth-quarter sales to be lower, due to anticipated drops in
uranium sales volumes and spot price.
Here's the promised Schadenfreude: as always, delays to new production
could shift the delicate supply-demand balance in favour of demand.
Analysts suggest that, coupled with strong fundamentals, these latest
delays are expected to keep the metal's prices firm.
Indeed, uranium stocks rose nearly across the board. Then again,
markets soared largely thanks to the U.S. Federal Reserve cutting
rates another quarter point in an effort to breathe new life into an
ailing American economy.
Still, the Resource World composite uranium stock index, an index
based on the performance of nearly 100 uranium companies, gained an
impressive 41.31 points Monday, or 3.26 per cent, to close at
1,308.38. The index continues to cruise at heights unseen, having
blown past the 1,200-point threshold it's been flirting with most of
October.
The index last visited the 1,200-point range in July, before spot
prices tumbled from $138 a pound U3O8 to $75 a pound. After a few
months in the dumps, the index has now recovered at a time when the
uranium sector is again showing some strength.
Earlier this week, the price of yellowcake for immediate delivery rose
for the third week in a row, with industry indicator Tradetech posting
a $4-gain to US$84 a pound of U3O8 after getting word of 100,000
pounds of U3O8 equivalent selling slightly above the metal's former
spot price. Rival indicator Ux Consulting soon followed suit, posting
a $5-increase on its website October 29.
http://www.u3o8.biz/s/MarketCommentary.asp?ReportID=270055&_Type=Market-Commentary&_Title=Spot-price-benefits-from-producer-woes
RE: the Maynard Topaz Mine -
FYI. many old mines can have the same name -
or be called with the same name -
I have came across it many times -
like creeks with the same names etc.
many times the creeks etc. have a new name -
and had a different name in the old days -
some time it can be a clerk error etc. -
but all prospectors mine finders know -
that only the org. old survey reports -
gives the accurate names etc. -
new maps etc. have different creek -
lake, mines names etc. from the old days -
nothing is written in stones which can't
be removed, alterated etc. by negz basherz -
It maybe many mines with the
Maynard Topaz Mine? -
a dear child has many names -
It doesn't matter what I write or
any Long writes? -
all Longs messages become removed from
the RSDS IHub bashers board? -
what a disgrace for America's Freedom !!! -
Its like I am in bolshevikz ussr evilz land again? -
which I escaped from -
long time ago -
Imo. Tia.
God Bless America -
get the nss devilz out! -
Amen
faz, thank you and ex. this prev. message -
on RSDS has been removed from the RSDS forum -
and should be reinstated! -
with all the rest of RSDS longs messages which
constantly been removed over the last year etc. etc.
its an absolute disgrace to the RSDS and its longs
investors in the first case -
RSDS should get an attorney legal opinion etc. -
http://investorshub.advfn.com/boards/read_msg.asp?message_id=23728074
Imo. Tia.
God Bless
To 'fazoolius' on 'Russell Industries ' -
RE:
Ex...
I know!.........Its gonna cost at least $50k to move those tailings right?.
--
Well, if the tailing removal would proof up the
old mines uranium and vanadium values etc.
50k would be a fiatz$peanutz cost -
compare to drill the mine property etc. -
and if the RSDS old mine tailings are good ore -
its a 99% RSDS evidence to do more -
exploration, Re-Commission mine development etc.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=23728074
http://investorshub.advfn.com/boards/read_msg.asp?message_id=24217979
Imo. Tia.
God Bless
Russell Industries Small Mine Reclamation Contract -
Thursday November 1, 8:01 am ET
HOUSTON--(BUSINESS WIRE)--
Russell Industries, Inc. -
(Pink Sheets:RSDS - News), has entered into a -
Small Mine Reclamation Contract -
with the Utah State Division of Oil,
Gas and Mining.
The Contract will allow Russell Industries -
to remove approximately 560 tons of material containing
Uranium from the Maynard Topaz Mine.
A similar contract should be agreed with the National
Forest Service within the next week.
Upon entering into both contracts, The Company plans
to remove the material by truckload and deliver it
for sale to White Mesa Mill -
located within thirty miles of the RSDS -
Maynard Topaz Mine.
The Company will then be responsible for reclaiming -
the approximately one acre site as required by -
the Utah Mined Land Reclamation Act,
Sections 40-8-1 et seq (http://le.utah.gov/code/TITLE40/40_06.htm).
“The sale of this material will represent -
Russell Industries’ -
first revenue since the Company was cleared
for quotation in 2006.
It is even more gratifying to see this revenue
was generated from the Company’s 2007 strategic
business plan and business model.
We will continue to follow the plan and look for
further success in the remaining quarter of 2007,”
said Rick Berman, President and CEO.
Russell Industries,
a Nevada Corporation, was incorporated in 1997.
The Company is a holding company that will possibly
acquire assets in the energy, mining, healthcare and
financial industries.
The Company owns a majority ownership interest -
in 254 Unpatented Uranium Mining Claims -
in San Juan County, Utah -
as of November 1, 2007.
Safe Harbor
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations, are generally identifiable by the use of words such as "believe," "expect," "intend," "anticipate," "estimate," "project," or similar expressions. These forward-looking statements relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, potential future performance, perceived opportunities in the market, and statements regarding the Company's mission and vision. Investors should be aware that the Company raises equity capital by selling its stock as per SEC Regulation D, Rule 504 Exemption to Accredited Investors. One result to date of this method of financing is a large amount of issued and outstanding free trading common stock in the market. Another result is the Company has no loans or any other financing debt obligation.
Contact:
Russell Industries, Inc.
Rick Berman,
Tel: +1 832-631-6099
Fax: +1 832-631-6274
irrsds@aol.com
Source: Russell Industries, Inc.
http://biz.yahoo.com/bw/071101/20071101005493.html?.v=1
http://www.ru308.com/index.asp
----
Following RSDS messages was posted on RSDS forums -
a negative mod removed it? -
are nss short sellers negativity against RSDS Longs? -
http://investorshub.advfn.com/boards/read_msg.asp?message_id=23728074
Imo.
God Bless America -
against the 666 evilz -
Amen
Ps.
Why have so many RSDS Longs messages have been removed? -
from RSDS Investors forum? -
Is the RSDS forum total controlled by the negative RSDS basherz
of short sellers?
(by the negz. basherz nss ?)
Mesa Uranium Begins Step-Out Drilling on Uranium Discovery - CCN Matthews -
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 4, 2007) -
Mesa Uranium Corp. ("Mesa") -
(TSX VENTURE:MZU) is pleased to announce that step-out drilling
around discovery drill hole L-15 has commenced.
This drilling is within our 100%-owned Lisbon Valley uranium -
property in Southeastern Utah.
The principal goal of this step-out drilling is to delineate
additional mineralization and to confirm lateral continuity
in the area surrounding the recently drilled L-15
discovery drill hole.
The secondary goal is to strengthen our geologic understanding
of the zone to aid in directing further
step-out drilling efforts.
As previously reported (news release dated 9/10/2007) drill
hole L-15 intercepted three strongly mineralized
zones consisting of, top to bottom:
- 1.5 feet of 0.13% U3O8 (2.6 pounds/ton);
- 1.0 foot of 0.16% U3O8 (3.2 pounds/ton); and
- 3.5 feet of 0.28% U3O8 (5.6 pounds/ton);
All three higher-grade intercepts resulted in an overall
mineralized interval of 17.5 feet grading 0.11%
U3O8 (2.2 pounds/ton).
The mineralization in L-15 is similar to the material mined
at the Lisbon Mine, the District's largest mine
(22 million pounds of U3O8).
L-15 was drilled 8,000 feet east of the Lisbon Mine
in an un-drilled area along Mesa's projected southeast
to northwest trend.
Mesa is pursuing the concept that 1/2 of the Lisbon Valley
District has remained buried and undiscovered on
the down-faulted, eastern flank of the Lisbon Valley
anticline.
Wildcat drilling in 1968 validated the concept of ore
deposits on the downthrown side with the discovery of
the District's largest mine, the Lisbon Mine,
which produced 22 million pounds of U3O8 at
a grade of 0.4% U3O8. Ore deposits in
the District were flat-lying, elongate,
tabular deposits averaging 200-500 feet in width
and 1,000 to 3,000 feet in length.
These deposits pre-date all faulting and are not
structurally controlled.
About Mesa Uranium
Mesa Uranium Corp.
is a uranium exploration company focused on proven
uranium districts in the western United States.
Mesa's lead project is the 100%-owned, 30 square mile
Lisbon Valley project in the Lisbon Valley Mining
District in Utah.
The District produced over 85 million pounds of U3O8,
at some of the highest uranium grades in
the United States, averaging 0.4% U3O8.
The Lisbon Valley Mining District is located in
the Colorado Plateau region, 30 miles south of Moab,
in San Juan County, Utah.
For further information about Mesa Uranium
please visit our website at
http://www.mesauranium.com
Qualified Person
This Press Release has been prepared and revised under
the supervision of Gregory French, P. Geo., Technical
Advisor for Mesa, a Qualified Person as defined by
National Instrument 43-101 guidelines.
ON BEHALF OF THE BOARD
MESA URANIUM CORP.
Foster Wilson, President and CEO
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unsuccessful exploration results, changes in metals prices, changes in the availability of funding for mineral exploration, unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on the Company and the risks and challenges of its business, investors should review the Company's annual filings that are available at www.sedar.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Mesa Uranium Corp.
Wayne Marsden
Toll Free: 1-866-337-1235
Website:
http://www.mesauranium.com
The TSX Venture Exchange has neither approved nor disapproved of the contents of this news release.
Source: CCN Matthews (October 4, 2007 - 1:01 PM EDT)
News by QuoteMedia
www.quotemedia.com
http://investorshub.advfn.com/boards/board.asp?board_id=9679
New Junior Uranium Company
Universal Power: Uranium Exploration With a Polymetallic Twist
By Eric Pratt
www.ResourcexInvestor.com
October 19, 2007
A brand new entry in the global uranium exploration ring, Universal Power Corp. (TSX.V:UNX) began trading under its new name and symbol on October 2nd of this year. Universal’s unique mix of Uranium, Silver and Iron Oxide Copper Gold (“IOCG”) prospects gives investors a unique blend of exposure to upside across various in-demand commodities.
With an eye towards limiting exposure to political risk, the company has assembled a portfolio of properties in Tanzania and Malawi in Africa, Canada’s Northwest Territories and Ontario.
Canada
Of particular interest is the Great Bear Lake IOCG property that covers 45,000 acres roughly 400 kilometers north of Yellowknife, and due south of Alberta Star Development’s (TSX.V:ASX) Contact Lake Property.
The Eldorado & Contact Lake claim block now consists of eleven contiguous claims located 5 km southeast of Port Radium on the east side of Great Bear Lake Northwest Territories and 470 kilometers north of the city of Yellowknife.
The area consists of 87,706 acres and is comprised of two distinct areas, Contact Lake North and Contact Lake South. The Eldorado & Contact Lake IOCG + uranium project areas include five past producing high grade silver and uranium mines. In Contact Lake North, the Echo Bay Mine produced 23,779,178 ounces of silver, and 6,900 lbs of uranium, the Eldorado Mine produced 15 million pounds of uranium, and 8 million ounces of silver and the area also included the Cross Fault Lake Uranium mine (Normin NTGO: SENES Report 2005).
The average head grade for the Echo Bay mine was 66 ounces per ton silver and the average head grade for the Eldorado silver -- uranium mine was 0.75 % uranium. In the Contact Lake South area, The Contact Lake Mine, the Bonanza and the El Bonanza mines were all former producers of silver and high grade uranium, and are included in Alberta Star’s land package.
Uranium was first discovered in the Great Bear Lake area in 1929 by Gilbert Labine when the Eldorado Mining Company uncovered high grade silver -- pitchblende veins at Port Radium. Newly discovered veins at Port Radium, Eldorado and Contact Lake were mined until 1940.
In 1941 the Eldorado Mining Company gifted Columbia University 5 tons of Uranium oxide for chain reaction experiments and the mine re-opened to supply the ore to the United States Government, to develop the Manhattan Project. When the price of Uranium dropped, the mine was deemed no longer profitable and was closed in 1960, and all exploration for Uranium in the area ceased.
Universal’s Great Bear Lake project is geologically analogous to the Olympic Dam deposit at Roxby Downs in the Gawler craton of southwest Australia.
It is an extremely large deposit of copper, uranium, gold and silver, which supports an underground mine as well as an integrated metallurgical processing plant. It is the largest known single deposit of uranium in the world, though uranium represents only a minority of the mine's total revenue.
The deposit was discovered by Western Mining Corporation in 1975 and started production in 1987. It now belongs to BHP Billiton,(NYSE:BHP) which acquired WMC Resources in 2005. The mine currently operates by an underground mining method called sublevel open stoping, using modern and highly productive mining equipment. The March 2005 mine production rate is an annualized 9.1 million tonnes making it one of Australia's larger mines. 2005 metal production is thought to be in excess of 220,000 tonnes of copper, 4,500 tonnes of uranium oxide, plus gold and silver. The copper and uranium oxide are exported through Port Adelaide.
Universal’s Havoc Property, located in the Havoc Lake area in the Sibley Basin near Thunder Bay, Ontario is a mid-Proterozoic-age sedimentary basin that has the potential to host unconformity related uranium deposits such as those found in Saskatchewan’s Athabasca basin, home of the world’s richest uranium mines.
Similarities between the Sibley Basin and the Athabasca Basin have been recognized before but led only to modest exploration of the area in the late 1970’s and early 1980’s.
The presence of commercial grade Uranium was confirmed in 2005 by Rampart Ventures (TSX.V:RPT). Drilling results included 2.99% U308 over 1.5 metres. . Surface prospecting returned samples of 4.32 % and 5.24 %. Rampart is underway on their 2007 drilling program.
The Sibley Basin (also referred to as the Nipigon Embayment) of northwest Ontario is a late Proterozoic (Helikian age) sedimentary basin that shows significant geological parallels with the Athabasca Basin of Saskatchewan. These similarities have long been recognized before, but led only to a very modest amount of exploration for uranium in the late 1970s and early 1980s. Overall, the Sibley Basin is the least explored of all the Helikian-age sedimentary basins in Canada. It is also the most accessible, with an extensive network of logging roads.
Africa
Universal’s most recent acquisition is a 0% interest in two key acquisitions in Tanzania in the Madaba and Mkuju prospects covering over 1000sq kilometres with Uranium potential located along the extension of the Malawi Kayekar Uranium prospect that Paladin Resources (TSX:PDN) has been developing over the last few years.
Paladin recently approved a Bankable Feasibility Study that indicated a mine life of 7 years and a processing life of 11 years were achievable from the existing resources. This gave a reserve of 10.46Mt at an average grade of 0.11% U308 for 11,377t U308. Based on an annual production rate of 1.5 million tonnes per annum and a 90% recovery the BFS shows that an average of 1,493t U308 will be produced for the first 7 years from a feed grade of 0.109% U308 and 530 tonnes per annum U308 over the last 4 years using accumulated marginal material grading 0.039% U308.
In Tanzania, three uranium occurrences will be the focus of a National Instrument 43-101 study, where the sandstone of the Karoo are reminiscent of the sandstone which hosts uranium deposits in South Africa and in the state of Colorado in USA. No systematic prospecting has been done in the Tanzania Karoo sand stones, but, such work is anticipated to be very rewarding.
This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.
Uranium ready for shippng to the mill -
consider it's only the waste left n the pile -
the hghgrade shipped to milling -
in the 1960? -
a tailings pile in close proximity to
an abandoned uranium mine, last believed
to be operational in the mid 1960s, was found -
Using a hand-held Geiger counter on various areas
of the pile revealed the presence of high-grade uranium -
Certain areas registered as high as 4 percent -
while others registered between 1 and 3 percent.
the mine close to the old waste pile -
it's 100 claims -
very impressive -
http://www.ru308.com/2007_09_17_news.asp
Tia, Imo.
God Bless
http://investorshub.advfn.com/boards/board.asp?board_id=7773
Bob i added these for some separation looks. if ya don't want them please remove as you think it should be.
gives it an action look, imho.
[*chart]xs74.xs.to/pics/06132/barmove8kh.gif[*/chart]
part two: THERE IS A WEALTH OF INFORMATION HERE
yhoo
1 - 10 of about 2,380,000 for Uranium Exploration - 0.22 sec. (About this page)
http://search.yahoo.com/search?p=Uranium+Exploration+&fr=yfp-t-100&toggle=1&cop=mss&...
THERE IS A WEALTH OF INFORMATION HERE
GOOG
Results 1 - 10 of about 2,030,000 for Uranium Exploration . (0.15 seconds)
http://www.google.com/search?hl=en&q=Uranium+Exploration+&btnG=Search
hi Bob good morning. it is a pleasure to be with you. especailly on this item. "URANIUM"
Uranium Exploration (U3O8)
mick welcome to Uranium Exploration -
great willingness from you -
I appreciate it -
my pleasure to add you as a moderator
Thanks in advance
God Bless
lot of info here Bob, i just marked it. if ya need some help here. i'm willing.
lot of uranium thought in this message.
http://investorshub.advfn.com/boards/post_reply.asp?message_id=20924283
hi NYBob, good afternoon. i see some things in your ibox that could be placed at
Metals/Silver,Gold,Precious Metals companies/Research 11th born...#board-4784
ibox. chose the best that would be suited for the ibox.
when you have time.
URANIUM IS GOING TO GET BIGGER according to tobin smith.
he didn't mention any today on fox t.v. buisness discussions.
talked about subprime.
i did some stuff on u.k. and possible run on OUR BANKING SYSTEM. grave reports from U.K. TODAY.
@ #board-3665
#162538 Greenspan: Higher inflation to warrant double-digit rates in mick 9/15/2007 4:36:40 PM
#162517 Renters squeezed by lack of affordable housing mick 9/15/2007 4:26:59 PM
#162505 Former Fed Chief Attacks Bush on Fiscal Role mick 9/15/2007 4:20:07 PM
#162502 Banks Try Easing Into a $26 Billion Debt mick 9/15/2007 4:18:55 PM
-------------------------------------------------------
#162497 . IN FULL: RUN ON DA BANKS? HMMM INTERESTING mick 9/15/2007 4:13:49 PM
-------------------------------------------------------
There is an estimated 2 trillion barrels of oil buried
beneath of Colorado, Utah and Wyoming.
Geologists, petroleum companies and the federal government
have known about these massive deposits for -
nearly a century.
Ex. It is believed that the shale deposits in the Green
River region of Colorado, Utah and Wyoming are holding
the equivalent of approximately 1.5 trillion to
1.8 trillion barrels of oil.
Still, if only half can be extracted, scientists believe
the amount is nearly triple the oil reserves of Saudi Arabia.
RE:
Sen. Orrin Hatch (R-Utah) - "I cannot sit by while gas prices
are going through the roof, and while I hear from constituent
after constituent about the disastrous effect gas prices
are having on their livelihoods and their businesses,"
Hatch said.
"Why has Canada moved forward in leaps and bounds, while
the United States has yet to take even a baby step in
this direction?
I believe the difference has been the government policies of
the respective countries. We need to change that."
Sen. Orrin Hatch (R-Utah) -
RE: Colorado and Utah, there is more recoverable oil than in the Middle East?" -
Ex....Grace Gratia Gratus....
Sen. Orrin Hatch (R-Utah) -
was asked to testify today in front of the Senate Energy
and Natural Resources Committee on his efforts to
develop fuel from a vast untapped domestic oil reserve
in tar sandsand oil shale --
a large part of which sits in eastern Utah.
"Who would have guessed that in just Colorado and Utah,
there is more recoverable oil than in the Middle East?"
Hatch said....
"We just don't count it among our nation's oil reserves
because it is not yet being developed commercially.
I find it disturbing that Utah imports oil from Canada
tar sands, even though we have a larger tar sands resource
within our own boundaries that remains undeveloped."
According to the U.S. Department of Energy, recoverable oil
shale in the western United States --
located mainly in Utah, Colorado and Wyoming --
exceeds one trillion barrels and is the richest --
and most geographically concentrated oil shale and tar sands
resource in the world.
Hatch noted that Canada recognized the potential of the
large tar sands deposits in the province of Alberta
and developed a government policy to go promote
their development -- increasing its oil reserves
by more than a factor of 10.
Hatch is working with Senators Bennett (R-Utah),
Allard (R-Colo.), and Salazar (D-Colo.) to develop a bill -
that would encourage development of commercially -
viable oil from oil shale and tar sands.
http://www.freerepublic.com/focus/f-news/1388012/posts
U.S. HAS MASSIVE OIL RESERVES -
http://www.americanfreepress.net/html/u_s__has_massive_oil.html
dd....
http://www.ru308.com/
http://investorshub.advfn.com/boards/read_msg.asp?message_id=22363420
http://investorshub.advfn.com/boards/board.asp?board_id=7773
Colorado and Utah, there is more recoverable oil than in the Middle East?" -
http://www.freerepublic.com/focus/f-news/1388012/posts
U.S. HAS MASSIVE OIL RESERVES -
http://www.americanfreepress.net/html/u_s__has_massive_oil.html
dd....
http://www.ru308.com/
http://investorshub.advfn.com/boards/read_msg.asp?message_id=22363420
http://investorshub.advfn.com/boards/board.asp?board_id=7773
August 24, 2007
Uranium continues its fall from grace
Publisher: U3O8.biz
Author: Luke Brocki
Uranium continues its fall from grace while speculators refuse to buy
the metal. Not only that, they're fleeing the sector in droves.
To be sure, things have looked better. The spot price of uranium took
a heavy beating earlier this week. Ux Consulting LLC clocked the
metal's spot price at US$90 a pound, with rival TradeTech holding its
price at US$105 a pound in anticipation of feedback from last week's
auction of 200 tonnes of UF6 by the U.S. Department of Energy. Let's
not forget uranium's spot price peaked just below $140 a pound earlier
this summer.
Uranium futures on the New York Mercantile Exchange are pushing prices
ever lower, with December 2007 contracts having fallen to US$68 a
pound.
But fundamentals still support a long-term target of US$95 a pound.
The hope remains that the proverbial nuclear renaissance will ignore
market pullbacks such as this one in the long run. Perhaps, with
hundreds of new nuclear reactors in the planning and construction
phases, it's only a matter of time before demand for uranium again
outstrips its supply.
The Resource World uranium stock index was up just a fraction of a
percent Thursday, gaining six points to close at 978.39. But markets
closed lower in general on Thursday, amid continued credit worries and
a terrible housing market in the United States.
Canada's beleaguered uranium giant Cameco Corp. had a good day of
trading Wednesday after one of its subsidiaries signed a processing
deal with Uranium One Inc., but the world's largest publicly traded
uranium producer saw its stock fall 80 cents Thursday to close at
$40.65.
This drop follows Thursday's article in the Globe and Mail, which
stated that Cormark Securities' uranium index has fallen to new
52-week lows. Cameco is one of 33 stocks in that index and the
bellwether security for many investors; The Globe reports that all
companies in the index are oversold and remain below their 50-, 100-
and 200-day moving averages.
Still, there remains money to be made, even if uranium buyers are
tough to find.
Thursday's winners included Altius Minerals Corp., which gained $1.67,
or 10 per cent, to close at 18.31. The gain came with no new
announcement from the company, but follows news of a drilling program
on its Rocky Brook uranium property in western Newfoundland.
Energy Fuels Inc. was up nearly 12 per cent, gaining 19 cents to close
at $1.82 amid news of the company doubling its National Instrument
43-101-compliant resource base in Colorado and Utah.
Khan Resources Inc. enjoyed some gains, closing nearly 13 per cent
higher, as it crept up 18 cents to $1.60. This news followed an update
from the company's Mongolia property. The property's license is not
invalid, as reported earlier this month, but under review by the
Mineral Resources and Petroleum Authority of Mongolia.
A company news release states that the license may still be rendered
invalid, but also reassures investors that Khan is debt-free with more
than US$34 million in its treasury and all of its cash invested in
demand deposits at a Canadian bank.
Also, Mega Uranium Ltd. climbed 41 cents, or 13.3 per cent, to $3.49
and explorer Adriana Resources Inc. was up a whopping 37.5 per cent,
gaining 30 cents to close at $1.10 after announcing it has just
bought more than 850,000 square meters of Brazilian shoreline for the
development of an iron ore port facility.
Strong commodities
Lower spot prices in uranium shouldn't cause concern: industry specialist
Murray Lyons, The StarPhoenix
Published: Friday, August 24, 2007
Little should be read into a reported drop in uranium spot prices this week, one of Canada's best-known observers of commodity prices says.
Patricia Mohr, Scotiabank's vice-president of economics and a commodity market specialist, says the spot price is not that meaningful to producers of uranium yellowcake as traditionally, there has not been much of a spot market in the summer months for uranium.
"In the summer, the market really dies down and it does so because the utilities who are obviously the major buyers don't usually buy much over the summer," she said.
In the past two months, uranium prices on the spot market have tumbled from a peak of $136 US in mid-June to $90 earlier this week. As well, Mohr points out the U.S. Department of Energy has put out for bid a supply of UF6, a form of uranium that has been already been through the first stage of chemical processing.
"For the most part, the actual sellers are not mining companies," said Mohr, the author of the monthly Scotiabank Commodity Price Index. She points out that companies such as USEC, currently the only firm in the United States enriching uranium, sells uranium yellowcake from government inventories or from converted Russian nuclear weapons into the spot market.
Mohr says what's more important is what producers of uranium, such as Saskatoon-based Cameco Corp., charge utilities as a base price in long-term contracts. And that price has held steady at $95 US a pound recently, she points out.
"Contracts can range anywhere from delivery in a year's time to 15 years," she explained. "The contract prices are still at $95 US a pound. That is the base price.
"When a utility takes delivery, let's say, in two years time, about 20 to 40 per cent of the $95 is subject to escalation by an inflation indicator. The net effect is that the actual price is going to be higher than $95 on delivery."
In her report, Mohr notes the spot price of uranium is falling despite the fact it is now predicted uranium output from primary mines will come in globally at 112.1 million pounds of yellowcake in 2007, down from earlier estimates of 117 million pounds. Besides technical delays at mines in Africa, output is down at both Rabbit Lake and McClean Lake in Saskatchewan this year.
POTASH RISES
Meanwhile, the monthly Scotiabank index continues to track the incredible rise in overseas potash markets. In mid-July, the price for a Vancouver shipment was $202.50 US a tonne, a price that includes ocean freight.
By early October, it is expected Canpotex, the overseas selling agency for Saskatchewan potash, will sell potash into Malaysia and Indonesia at $330 US a tonne, a price already being achieved by Russian sellers.
"That, I am told, is just a spectacular level," Mohr said.
She says strong demand for biofuel around the world is causing palm oil producers in the two Asian countries to pour on the potash in addition to fuelling Brazilian sugar cane production for ethanol. The Scotiabank economist says she doesn't see potash prices hitting a plateau for the rest of the year.
"For sales into places like Brazil, Malaysia, Indonesia, China and Vietnam, you have various contracts kick in at various times of the year," she said. "So the average price at the Port of Vancouver is going to continue to climb for the balance of the year."
Pay Day claims evaluation:
Monday January 29, 9:30 am ET
HOUSTON--(BUSINESS WIRE)--Russell Industries, Inc. (RSDS.PK) reports the following update regarding its proven and probable reserves. When extrapolating the preliminary report from Edge Consulting in December 2006 and information obtained by the Atomic Energy Commission dating back to February and June 1955 the geo-statistical estimation of reserves with underground mining, estimated reserves from the Russell Industries 54 claim group would be 2 - 20 million pounds of Uranium (U308) with an average grade of .27% and a cutoff of .10. An additional benefit of this area is the high content of Vanadium within the ore. Based on historical records, shipping records and samples, the average Vanadium content is 2 - 3%.
The current market price for Uranium is $71.00 per pound and $20.00 for Vanadium. The extrapolation of these parameters indicates the range of ore in the claims to have a value range in excess of $38,340,000. The Company is being encouraged to further testing which will require costly extensive mining, sampling and testing. "We are encouraged with the preliminary reports and will evaluate our options over the next 90 days," Rick Berman, President.
We are still in the early stages of a worldwide nuclear
energy blast off (I nearly said explosion!!) with new -
nuclear power stations under construction and an
ever-increasing number in the planning stages -
There remains a significant shortfall between the amount -
of uranium being mined and projected requirements -
There is recognition that nuclear energy is the only -
practical alternative to diminishing and ever more -
expensive fossil fuels in producing electricity and
of course in alleviating the global warming problem -
Australia is relaxing its prohibition on the number -
of uranium mines allowed to operate -
The USA has introduced a package of incentives to encourage
its utilities to move over to nuclear powered electricity -
generation -
China is on record as stating it wants to generate most,
if not all, of its growing electricity needs from nuclear
power and has already taken great strides towards this goal -
Despite the usual prevarication from the UK´s prime minister,
that country seems to be the only significant trading -
nation not to have embraced the new nuclear age -
We believe that the open trading of uranium futures is
most likely on the long term to give an added boost to -
the upward price momentum of the metal and widen interest
in the producers and those companies involved in -
nuclear technology -
http://investorshub.advfn.com/boards/read_msg.asp?message_id=22363420
http://investorshub.advfn.com/boards/board.asp?board_id=7773
The world's largest builder of nuclear reactors -
RE: planned to triple its investment in uranium mining
to take advantage of higher prices for the metal
and a revival in nuclear power projects -
Why higher uranium prices ? -
Ex....
Areva has been operating two uranium mines in Niger for 40
years and is the west African country's biggest private
employer -
President Mamadou Tandja has accused it of backing
the MJC in a bid to keep out competition -
Areva has denied the accusations -
and said last week that its contracts with Niamey -
had been renewed -
The row prompted talks at the weekend in Niamey -
between French Cooperation Minister Jean-Marie Bockel -
and Niger officials, including Tandja -
"I'm very satisfied with the exchange I had with President
Tandja on a whole range of subjects including Areva,
where very significant progress has been made towards
overcoming a certain number of points of incomprehension,"
Bockel said on Saturday.
"The fact the contracts were renewed...
shows that a first step has been made and
that things are going in the right direction."
He added:
"It's clear that Areva does not support -
and never has supported the rebellion -
"There may have been the odd gaffe committed -
on the ground -
We must now do everything to ensure there is -
no more ambiguity between Areva and Niger."
Following the meeting between Tandja and Bockel,
Mindaoudou told journalists the revamped contract
with Areva obliges the company to sell -
its uranium at a higher price -
The new price – 40,000 CFA francs, or 60.98 euros (84 dollars)
a kilo – represents a significant increase over the old price
of 27,300 CFA but is still well below -
the current international rate.
The increase, retroactive to January 1, is only valid
until the end of 2007, Mindaoudou said -
late Friday.
In addition, for the first time Niger will be allowed -
to sell directly on its own account 300 tonnes of uranium -
100 this year and 200 in early 2008.
Further negotiations with Areva will determine new prices -
for 2008 and beyond, she said.
Prime Minister Seini Oumarou had earlier criticised -
the sale price of uranium that Areva fixes,
commenting on state television that a kilo currently sells -
for 122,000 CFA francs (186 euros) on -
the international market.
Mindaouodou said that in future Areva would be treated -
like any other mining company in its search -
for new deposits in Niger, which is the world's -
third largest producer of uranium with some -
nine percent of the market.
"If Areva fulfils the conditions" laid down by Niger,
"it will be granted permits, if not, it will not,"
she said. – AFP
http://investorshub.advfn.com/boards/read_msg.asp?message_id=22366568
http://investorshub.advfn.com/boards/board.asp?board_id=7773
RSDS old Vanadium - Uranium mines etc. -
Spring 2005 saw vanadium prices rise to all-time record
levels -
The outlook for vanadium consumption through 2010 -
appears optimistic.
World consumption may show short-term fluctuations
in line with steel production, but is forecast
to show underlying growth of 5-6%py to reach 118,600t
V2O5 equivalent in 2010.
High-strength steels will continue to provide
the main area of growth as increasing emphasis
is placed on life-cycle costs in the construction industry,
on reducing weight and improving fuel efficiency
in the transport industry,
and on the use of higher-performance materials -
to withstand aggressive environments -
in the oil and gas industry.
One change in structure of the vanadium industry in 2006/7
was the acquisition by Evraz Group of a 73% stake in
Strategic Minerals of the USA,
and of a 79% stake in Highveld Steel and Vanadium
of South Africa.
Following a competition enquiry by the EU commission,
Evraz agreed to divest an equity interest in
Highveld's vanadium mining and processing operations,
while retaining an interest in vanadium steel slag.
Vanadium published 27/02/2007
World vanadium demand is estimated to have risen
by over 8% in 2006 -
We're on the verge of the world's last energy bull market -
And just as uranium's momentum seemed to peak . . . .
Last October, disaster struck at one of the world's -
largest uranium mines--Cameco's Cigar Lake project -
The underground uranium mine was completely flooded . . .
and Cameco was forced to cease all production -
This mine had been expected to supply 17% of the world's - uranium demand.
While Cameco hopes to resume production at Cigar Lake again -
in 2010, the outlook is grim -
They're having a serious problem repairing the damage -
and may have lost the mine completely -
Fact is, uranium production today is so tight -
it can only satisfy 60% of global demand ---->>
with no relief in sight -
This shortage has propelled uranium prices to $105/lb . . . .
jumping 575% in just two years -
In the wake of "yellowcake" uranium's dramatic rise -
a multitude of uranium companies were started -
But most of these companies don't even plan -
to bring their mines into production . . . .
and are doomed to fail -
ex. without mill close to the mines . . . .
Yet here's the rub for investors . . . a few small -
uranium companies are on their way to -
LT triple-digit gains . . . .
----
Fyi.
One pound of uranium yields as much energy -
as three million pounds of coal -
There are 440 commercial nuclear power reactors -
operating in 31 countries -
56 countries operate more than 280 research reactors -
Over 200 are used for naval propulsion -
They supply 16% of the world's electricity -
as base-load power, and their efficiency -
is increasing -
----
RSDS - uranium & vanadium old mines -
undervalued - oversold ? -
RSDS with a maket capitalization value of -
$0.0006 x 4,297,825,994 = appr. fiatz $2.6 million
in market capitalization value -
RSDS market cap. value -
$0.0004 x 4.3bil. = appr. fiatz$1.72 mil. -
RSDS basherz please, try hard to find me another uranium and
vanadium comp. with old mines within trucking
distance to the only mill in US -
RSDS - for a better strategic bottom fishing bargain -
with a maket cap. value of
$0.0003 x 4,297,825,994 = appr. fiatz $1.3 million
in market capitalization value -
bargain - please try to show any other stock -
with more value -
for a lower price? -
RSDS is low priced compared to what the real values of -
the uranium, vanadium, oil and gas etc.
fwiw -
make sure to do your own dd....
dd....RSDS Website under construction:
http://www.ru308.com
Btw.
Note....
it doesn't matter how good progress a company performing -
it will always in all countries be -
666 bolshevikz making -
rare communistic demands and negativity -
all since stalin, trotsky, lenin, marxist anti-Christian time....
Imo. Tia.
God Bless
- in concert with the acquisition of past producing
uranium and vanadium mines that can be brought back
into production in the near term with low
capital expenditure --
All of the mines currently owned or in the South Utah area -
are within economic haul distances of White Mesa Mill
in Blanding, Utah --
The white Mesa Uranium Mill -
is currently the only operating Uranium mill -
in the United States –-
http://investorshub.advfn.com/boards/read_msg.asp?message_id=22323666
In October 2006, Cameco Corp. announced that its highly -promising Cigar Lake uranium project had sprung a leak -
and that the underground workings had become totally flooded.
From what I hear, the mine could be lost completely?
At the very least the flood will push back production
until 2010.
This development is of serious concern to the industry,
as the Cigar Lake mine was expected to provide 17% of
world's uranium supply and help ease
the current shortfall situation.
But now the future of the mine is in doubt.
News of the flood pushed uranium prices 7.1% higher
soon after, from $56 to $60 a pound.
This increase was the largest weekly gain in 20 years!
The energy metal has already doubled since the Cigar Lake
news and is trading at $120/lb. today.
But I think gains like these are just the beginning.
And although uranium prices haven't had much of down months
in nearly five years, I think the radioactive metal
still has a lot of steam behind it.
In fact, I think uranium could top $255/lb. by the end
of 2008!
So, what does that mean to us uranium investors?
Recently, uranium futures contracts began trading
on the NYMEX. But trading is still in the early stages,
so it's extremely illiquid and not the best place right
now for investors like us.
I believe we'll see such a climb in uranium prices in
just a few short years -
One pound of uranium yields as much energy -
as three million pounds of coal -
There are 440 commercial nuclear power reactors -
operating in 31 countries -
56 countries operate more than 280 research reactors -
Over 200 are used for naval propulsion -
They supply 16% of the world's electricity -
as base-load power, and their efficiency -
is increasing -
RSDS - uranium & vanadium old mines -
undervalued - oversold ? -
RSDS with a maket capitalization value of -
$0.0006 x 4,297,825,994 = appr. fiatz $2.6 million
in market capitalization value -
RSDS market cap. value -
$0.0004 x 4.3bil. = appr. fiatz$1.72 mil. -
RSDS basherz please, try hard to find me another uranium and
vanadium comp. with old mines within trucking
distance to the only mill in US -
RSDS - for a better strategic bottom fishing bargain -
with a maket cap. value of
$0.0003 x 4,297,825,994 = appr. fiatz $1.3 million
in market capitalization value -
bargain - please try to show any other stock -
with more value -
for a lower price? -
RSDS is low priced compared to what the real values of -
the uranium, vanadium, oil and gas etc.
dd....
Website: http://www.ru308.com
Imo. Tia.
God Bless
One pound of uranium yields as much energy -
as three million pounds of coal -
There are 440 commercial nuclear power reactors -
operating in 31 countries -
56 countries operate more than 280 research reactors -
Over 200 are used for naval propulsion -
They supply 16% of the world's electricity -
as base-load power, and their efficiency -
is increasing -
RSDS - uranium & vanadium old mines -
undervalued - oversold ? -
RSDS with a maket capitalization value of -
$0.0006 x 4,297,825,994 = appr. fiatz $2.6 million
in market capitalization value -
RSDS market cap. value -
$0.0004 x 4.3bil. = appr. fiatz$1.72 mil. -
RSDS basherz please, try hard to find me another uranium and
vanadium comp. with old mines within trucking
distance to the only mill in US -
RSDS - for a better strategic bottom fishing bargain -
with a maket cap. value of
$0.0003 x 4,297,825,994 = appr. fiatz $1.3 million
in market capitalization value -
bargain - please try to show any other stock -
with more value -
for a lower price? -
RSDS is low priced compared to what the real values of -
the uranium, vanadium, oil and gas etc.
dd....
Website: http://www.ru308.com
Imo. Tia.
God Bless
Just need to get the results from the drilling for RSDS and we will see how high she can go!
-faz
Oversupply sinks price of uranium
YURIY HUMBER
Bloomberg News
August 22, 2007
Uranium tumbled 14 per cent last week as supply exceeded demand and the U.S. Department of Energy prepared to sell inventories of the metal used to fuel nuclear reactors, said industry pricing service Ux Consulting Co. LLC.
The radioactive metal fell $15 (U.S.) to $90 a pound, Roswell, Ga.-based Ux said Monday in its Ux Weekly report. The decline is the biggest ever recorded by Ux. The price of uranium for immediate delivery has dropped 35 per cent since trading at a record $138 a pound in June.
"Maybe in the fourth quarter we'd look for uranium to move up, but it could head lower before it goes higher," Glyn Lawcock, head of resources research at UBS AG in Sydney, said yesterday, adding he is "surprised" at the extent of the drop.
Record high prices have spurred increased supplies of uranium since the first half, when there was a shortfall. Current supplies of uranium oxide concentrate, or yellowcake, are five times demand, consulting company TradeTech LLC said on July 27.
Print Edition - Section Front
The Department of Energy stopped collecting bids last week for an auction of 200 tons of uranium hexafluoride, a processed form of the metal equivalent to 519,000 pounds of yellowcake.
"The activity surrounding this event has had noted impacts on analyst predictions and, in turn, on participants' perceptions of how this market could move," Ux said.
Uranium for delivery in December on the New York Mercantile Exchange fell $2, or 2.9 per cent, to $68 a pound on Monday. The futures have dropped 50 per cent in New York in the past month.
Kevin Smith, head of commodity trading at New York-based Evolution Markets Inc., said spot prices aren't likely to fall much lower. "I have buyers in the low $90s, so there is support there," he said.
Uranium slumps 14% on excess supply, auction
Uranium tumbled 14% last week as supply beat demand and the US Department of Energy prepared to sell inventories of the metal used to fuel nuclear reactors, said industry pricing service Ux Consulting LLC.
Uranium for immediate delivery fell US$15 to US$90/lb, Roswell, Georgia-based Ux said on Monday in its Ux Weekly report.
The weekly decline is the biggest-ever recorded by Ux.
The price has dropped 35% since trading at a record US$138/lb in June.
Glyn Lawcock, head of resources research at UBS AG in Sydney, said he was “surprised” at the extent of the drop.
“Maybe in the fourth quarter we`d look for uranium to move up, but it could head lower before it goes higher,`` he said on Tuesday in a telephone interview.
Record prices have spurred increased supplies since the first half, when there was a shortfall. Current supplies of uranium oxide concentrate, or yellowcake, are five times demand, consulting company TradeTech LLC said July 27.
The Department of Energy stopped collecting bids last week for an auction of 200 t of uranium hexafluoride, a processed form of the metal equivalent to 519,000 lbs of yellowcake.
“The activity surrounding this event has had noted impacts on analyst predictions, and in turn, on participants` perceptions of how this market could move,`` Ux said its report.
RSDS can't decide if it wanted 6's or 5's...guess it ended with the 5's
Well NYBob, until you just posted that link on the RSDS board in response to my post...I didnt know this board was around...I knew that you knew a lot on the subject but now I see I have a lot to catch up with on here. Man I might just become a expert as well..Looks like a lot of good info.....Cool
When bucky going down -
The LT Natural Res. Bull market goes UP -
ex.
in reality uranium holding its value -
and bucky going down -
only the mirror reflexion -
shows uranium UP -
the uranium move started -
will be better when it keep flying -
ST - short term waves are more for day traders -
keep the LT safety trades -
ST is the day traders ifi -
LT bucky is not looking good -
LT bucky scare me -
ex. lots of friends will lose -
their LT safety of pensions value? -
http://www.uxc.com/review/uxc_g_ind-u.html
http://www.uxc.com/products/rpt_u3o8.html
Imo. Tia.
God Bless
Uranium mining claims jump in West
By JOHN HEILPRIN
Associated Press writer Friday, August 17, 2007
WASHINGTON -- Metals mining claims on Western federal lands jumped by 80 percent in the past 4.5 years, some popping up near popular national parks.
Overall metals mining claims rose from 207,540 in January 2003 to 376,493 in July of this year, two advocacy and research organizations said Thursday, based on their review of the Interior Department's Bureau of Land Management records.
Higher prices for gold and copper and renewed interest in uranium exploration, mainly due to global demand for nuclear power, helped fuel the jump.
"Claims have been on the rise," BLM spokesman Matt Spangler said. "That's mainly due to rising copper, gold and uranium prices. Those have been going up pretty significantly the past two and a half years."
During just two years between 2004 and 2006, four states -- Colorado, New Mexico, Utah, and Wyoming -- saw uranium mining claims rise from 4,300 to 32,000, the Environmental Working Group and the Pew Campaign for Responsible Mining reported.
Luke Popovich, a spokesman for the National Mining Association, had no immediate comment.
As nuclear power has rebounded, uranium prices have risen. Nuclear power proponents tout it as a relatively cheap, reliable and emissions-free source of energy, and many new nuclear power plants are planned around the world.
More than 1 percent of the metals mining claims were within five miles of 11 national parks and monuments analyzed by the two groups. That included 1,053 uranium claims near five parks: Grand Canyon in Arizona; Arches, Canyonlands and Capitol Reef, all in Utah; and Yellowstone, in Wyoming, Montana and Idaho.
Among states, Nevada had nearly half the mining claims. Wyoming was second, with 10 percent, followed by Utah, with 8 percent.
But Colorado and Utah added mining claims at the fastest rates, each with at least 200 percent more than at the start of 2003. Wyoming and South Dakota were next, each with more than a 100 percent increase.
The environmental groups said their review covered gold, silver, copper and uranium claims. The organizations said uranium mining interests are some of the largest claimholders in seven states -- Arizona, Colorado, New Mexico, Oregon, South Dakota, Utah and Wyoming.
The groups said they released the statistics to bring attention to the nation's antiquated mining laws, as metals mining companies pay no royalties for extraction on public lands, unlike the oil and gas industries. The groups are advocating legislation to require metals mining companies to pay royalties and create funds for abandoned mines cleanup.
Uranium Correction Provides Buying Opportunity
By Jay Taylor
Aug 17 2007 9:41AM
Uranium has had its first significant correction in several years. The price of U3O8 has fallen to $110, after briefly reaching a weekly closing high of $136. With this kind of decline, our uranium stocks have taken an even bigger hit in percentage terms which we think is really good news for those of you who have not yet purchased a portfolio of uranium stocks. In fact, we think James Dines is on to something when he suggests that a decline in the price of uranium reduces the potential dishoarding of more uranium from government stockpiles and as such is bullish for the uranium stocks.
We also agree with Dines in his view that uranium is uniquely poised at this particular time to weather a recession better than any other metal except for gold. Gold is real time-tested, market-proven money with intrinsic value, while paper money has been forced on the subjects of the American “crown.” Therefore, gold has been declared money by the markets, not by fiat or edict. When financial systems melt down or melt up, gold will be demanded as a medium of exchange once again by market participants, whether we head into a hyperinflation or an excruciating deflationary debt implosion. This is what separates gold from other metals, and even silver, in a deflationary collapse. Because of its nature, gold is money, while other metals are not, though silver is arguably also money, but not as good as gold.
If uranium is not money, why do I expect it to hold up well if we run into a deflationary scenario over the next few years? Because I have talked about this at some length in the past, I’m not going to write too much more about it now except to say that there is a shortage of uranium in the world to meet the needs of the existing 440+ nuclear reactors operating around the world right now. These reactors supply a significant amount of the world’s electricity. There are no substitute fuels for these power plants, so that the price of uranium can rise very dramatically - even much higher than the $136 that U3O8 hit earlier this year. In other words, this metal is price inelastic. There are no meaningful new supplies of this metal coming into the market for another 5 to 10 years. If we go into a major depression, there would be a reduction in demand for electricity, that is for sure, but a basic amount of electricity would still be required to hold society together. So the existing power plants would still need to secure uranium to stay in business, and there simply isn’t enough of it around to meet even a reduction in demand for electricity. Thus, even if we enter into a significant recession/depression, demand for uranium should keep its price in the $80 to $120 range for the foreseeable future.
One more detail I would like to point out is that with the most recent decline in U3O8, its “real” (inflation adjusted) price is now back to its prior peak of around $111.69 in 1976. With this “real” price of uranium at these heights, we think as long as U3O8 is priced in the $80 to $120 range (in real terms), the economics for uranium mining companies should remain very robust. While the market for commodities these days can be very fickle, the pullback from this sector by the investment community (perhaps most significantly hedge funds at this time of credit strains) provides alert investors with an opportunity to increase their exposure to this sector.
So, we see the most recent decline in the price of uranium and in the shares as a golden opportunity for investors to acquire uranium shares for their portfolio.
Russell Industries: Russell Industries begins drilling
HOUSTON, TX,, Aug 14, 2007 (M2 PRESSWIRE via COMTEX) -- Russell Industries, Inc. (RSDS.PK) announces that it has purchased drilling equipment and has begun drilling as per its permit approved by Bureau of Land Management in July. The Company received approval for its Plan of Operations for uranium exploration on its Cache Claims in San Juan County Utah. The permit was approved by the Division of Oil, Gas and Mining for the State of Utah and allows for 33 holes, one wet and 32 dry to be drilled. The Company expects a second permit to be approved this week. "The purchase of this equipment is a major step for a development company like Russell Industries. We will now have the ability to validate the proven and probable reserves of this claim area and our other claim areas as permits are approved. We will then evaluate our options regarding strategic use of these assets," said Rick Berman, President and CEO of Russell Industries.
Good volume coming right now. This could pop!
-faz
Utah's Uranium Boom -
a snippet -
Steen's strike triggered a mineral rush that rocked the
entire Colorado Plateau.
Shortly after announcement of the Mi Vida find, Vernon Pick,
a middle-aged electrician from Minnesota, discovered
the Delta Mine northwest of Hanksville.
After blocking out approximately 300,000 tons of ore with
an in-place value of forty dollars per ton,
the Delta's monthly production averaged 1,500 tons.
Two years later Pick sold his mine to international
financier Floyd Odlum for $9 million and a
custom-converted PBY airplane.
Odlum renamed the mine the Hidden Splendor, but soon
after his purchase the highly touted vein pinched out.
Local wags then dubbed the mine "Odlum's Hidden Blunder."
Note. ex....
UTAH URANIUM PRODUCTION
Selected Years - Pounds - Value
1955 - 2,219,000 - $ 9,454,000
1960 - 6,539,000 - $ 27,843,000
1970 - 1,635,000 - $ 6,742,000
1980 - 2,397,000 - $ 68,248,000
1982 - 2,895,000 - $ 111,080,000
1987 - 5,320,000 - $ 145,610,000
Ex....
30 square mile Lisbon Valley Project is located in
the Lisbon Valley Mining District.
Over 85 million pounds of uranium oxide (U3O8)
were produced in the district at an average grade
of 0.4% U3O8 (8 pounds per ton).
Pratt Seegmiller of Marysville remembered some yellow rock
he'd seen in the back country years before.
After racking his brain to remember the site, he staked
the Freedom and Prospector claims, which proved to be
among Utah's richest deposits.
Joe Cooper, a road contractor in Monticello, partnered
with his father-in-law Fletcher Bronson and earned
over $25 million on the Happy Jack Mine.
Texan Blanton W. Burford and his partners sliced into
an eight-foot vein of high-grade uranium ore while
bulldozing a road into their claims on
Rattlesnake Mountain near Moab.
School teachers, insurance brokers, used car salesmen,
and shoe clerks around the nation converged on
the Colorado Plateau to seek their fortune.
Even a group of high school students staked forty claims
and later sold them for $15,000.
By the mid-1950s, almost six hundred producers on
the Colorado Plateau were shipping uranium ore.
Employment in the industry topped 8,000 workers in
the mines and mills.
Another bonanza in penny uranium stock established
Salt Lake City as "The Wall Street of Uranium."
The AEC had turned the tap and caused a flood.
But by 1964, after producing almost 9 million tons of ore
valued at $250 million, the Atomic Energy Commission
announced that "it is no longer in the interest of
the Government to expand production of uranium concentrate."
The market was saturated.
There were 71 million tons of reserves--enough to
satisfy United States needs through the next four years.
For the first time, private enterprise was invited to
purchase uranium oxide and the AEC put federal buying on hold.
During the late 1960s the industry rallied again with
mining by large companies for developing nuclear plants.
But the furor was never the same.
Ostensibly, the uranium boom was over for that cycle -
history repeat itself -
DD..Ex....
http://investorshub.advfn.com/boards/read_msg.asp?message_id=22004490
To 'smhx' on 'Uranium Exploration'-
well you find it in Denison Mines IH-page -
a link below it will lead you in the right direction -
dd....
http://investorshub.advfn.com/boards/board.asp?board_id=9118
NYB,
Can you point me to the source for the supply/demand chart in that post?
Thanks
SMH
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The super red banksters cults -
Rothschilds World Part 1 "Glen, Rush, Michael...Here's to you boy's"
http://www.youtube.com/watch?v=yhKHwrUA5SM&feature=related
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