status is none of yer' damn business!! :-)
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URHN DD
Company History
Subsequent to the fiscal year ended September 30, 2006, and in October 2006, we were granted the sole exclusive right and option to acquire up to a 100% undivided right, title and interest in and to the Gambaro Resources Property located in Njombe and Songea districts in the Republic of Tanzania. The Gambaro Resources Property, which is held under the terms of a Prospecting License issued by the government of Tanzania, is believed to cover sediments of the Karoo sequence which share common features with rocks of the Colorado Plateau in the western United States that have been prolific producers of uranium. Such project has been abandoned by us. See "The Gambaro Property" below.
On February 14, 2007, pursuant to a Certificate of Amendment to our Articles of Incorporation filed with the State of Nevada, we changed the name of the corporation from "Brownsville Company" to "Uranium Hunter Corporation".
On June 26, 2007, we were granted the sole and exclusive right and option to acquire up to a 75% undivided right, title and interest in and to the Nkoko and Kagadi Uranium Properties which contain approximately 820 square kilometers located in Kiballe District, Uganda (the "NPK Property").
Properties
The NPK Property
On June 26, 2007, we entered into an Option Agreement (the "NPK Agreement") with NPK Resources Ltd. ("NPK"), whereby NPK granted us the sole and exclusive right and option to acquire up to a 75% undivided right, title and interest in and to the Nkoko and Kagadi Uranium Properties which contain approximately 820 square kilometers located in Kiballe District, Uganda (the "NPK Property").
Under the terms of the NPK Agreement, NPK has granted us the sole and exclusive option to acquire up to a 75% undivided interest in and to the NPK Property by making a cash payment to NPK of $25,000 US within five days of signing the NPK Agreement. We paid $15,000 during the quarter ended June 30, 2007 and paid the balance of $10,000 in July 2007. We shall also be responsible for making all necessary property payments and taxes to keep the NPK Property in good standing. We shall maintain its 75% interest in the NPK Property after we pay the $25,000 as described above by completing the following cumulative exploration expenditures on the NPK Property totaling $150,000 US over a 36 month period:
(i) $50,000 in cumulative exploration expenditure within the first 12 months after signing the NPK Agreement; (ii) $100,00 in cumulative exploration expenditures within 24 months of signing of the NPK Agreement; and (iii) $150,000 in cumulative exploration expenditures within 36 months of signing of the NPK Agreement. If 36 months after the date of the NPK Agreement, we have not completed exploration expenses of $150,000, we may still maintain its 75% interest in the NPK Property if we issue in favor of NPK payments totaling up to $150,000 in shares of common stock of the Company or cash of up to $150,000 US at our sole option less the cumulative exploration expenditures already paid and/or met on the NPK Property. The value of the shares shall be determined as the average share price of the shares over the 30 business days of trading prior to the 36 month period as described herein provided, however, that the shares shall not be valued at less then $1.00 per share.
Once we have vested and maintained our 75% interest in the project (i.e. by spending $150,000 on the project within three years), the parties shall enter into a joint venture agreement and shall share proportionally in all exploration costs and payments subject to standard dilution terms.
In addition, once we have earned its 75% interest in the NPK Property, for a one year period from date of earn in, NPK shall be entitled to convert its 25% ownership of the NPK Property into common stock of the Company at the fair market value for NPK's 25% ownership of the NPK Property. The fair market value of the NPK Property shall be determined by the parties and if they cannot agree, shall be determined by three experts. Should NPK convert its 25% ownership into shares of common stock of the Company, then we shall own 100% of the NPK Property. The value of the shares shall be determined as the average share price of the shares over the 30 business days of trading prior to the election period, provided, however, that the shares shall not be valued at less than $1.00 per share.
We may terminate the NPK Agreement at any time by giving written notice to NPK of the termination of the NPK Agreement. If we fail to make any payment (optional, discretionary or otherwise) or fail to do anything on or before the last day provided for such payment or performance under the NPK Agreement, NPK may terminate the NPK Agreement but only if: (i) NPK has first given us written notice of the default containing particulars of the payment which we have not made or the act which we have not performed; and (ii) we have not, within 30 days following delivery of such notice, cured such default by appropriate payment or performance. Should we fail to comply with the foregoing, NPK may thereafter terminate the NPK Agreement by notice to the Company. Upon the termination of the NPK Agreement, we shall forfeit any and all interest in the NPK Property and shall cease to be liable to NPK.
The Eagle Nest Property
Effective April 21, 2009, the Company signed a Letter of Intent with Sparrowtech Resources, Inc, ("Optionor") for a right to earn 49% interest in the mineral claims situated in, La Paz, Arizona, USA collectively generally known and described as the 'Eagle Nest Mining Property' ("Eagle Nest"). The initial option period will be for a maximum of one year from the effective date. The Optionor granted to the Company the right and option to acquire a 49% interest in the Eagle Nest property by making the following payments to the Optionor plus the cost of expenditures for mining work ("Expenditures") and issuing shares of its capital as follows:
1. Deposit due on signing of LOI and $10,000
paid
Due and payable to the Optionor by $35,000
May 31, 2009
Work program commitment expenditures
to be incurred on exploration:
Within three months-Before July 21, $60,000
2009
Within nine months-Before January $90,000
21, 2010
Total within one year- Before April $150,000
21, 2010
2. The Company will issue two (2) million restricted common shares of the Company's common stock to the Optionor by May 15, 2009 (not yet issued)
3. On subsequent anniversary dates, the Company will pay $15,000 to the Optionor:
April 21, 2010 $15,000
April 21, 2011 $15,000
April 21, 2012 $15,000
Any expenditure incurred in excess for such period shall be credited towards the expenditures required for the succeeding period or periods. The initial option may be terminated by the Company at their sole discretion any time after the exploration payments for the initial minimum of nine months of assessment work and taxes are paid. If the Company elects to terminate the Initial Option, the Company will not have acquired any interest in the Property. During the initial option period, the Optionor will be the operator manager of the exploration programs and will be entitled to a 15% administration fee on exploration expenditures. All costs related to keeping the property in good standing including property taxes and costs to maintain the concessions in good standing will be considered allowed exploration expenditures.
Latest PR's
Uranium Hunter Releases Details on the Eagle Nest Mining Property
Last update: 6/8/2009 4:39:00 PM
TORONTO, June 8, 2009 /PRNewswire-FirstCall via COMTEX/ -- Uranium Hunter Corporation (URHN) is pleased to provide further details on the Eagle Nest Mining Property. The Company recently entered into a Joint Venture Agreement to acquire a 49% interest in the Eagle Nest Mining Property Claims ("Eagle Nest") located in La Paz County, Arizona.
Mr. Reno Calabrigo, President stated "The Company is excited about this venture into the Bouse Mining District, which has a long established history of producing profitable gold mining operations. We are in the process of evaluating the recent available data on the Eagle Nest Mining Property and will release this information shortly in conjunction with an announcement for an upcoming work program. Mr. Calabrigo further stated "During the 1980's, Cyprus Gold profitably mined the 500,000 oz Copperstone open pit resource, located approximately 20 miles from Bouse, which based on today's gold prices is valued at over $470,000,000."
History of the Bouse Mining District
The Bouse Mining District, where Eagle Nest is located, is a mid-tertiary system of epithermal mineralization, which was introduced into a stacked sequence of lithotectonic units that are located on the northern side of the Plomosa Detachment Fault. Complex epithermal gold, barite and fluorite mineralization is superimposed on earlier copper-specularite mineralization. Gold occurs in laterally extensive breccias and in steeply dipping amethystine-quartz veins. These deposits are similar to the proven and mined Copperstone and Mesquite deposits.
This District involves an important type of Arizona gold deposit, called a "detachment fault" deposit. Detachment fault deposits were first recognized as a separate form of gold deposit in the 1980's. The best example of an Arizona detachment gold deposit is Copperstone, which is about 20 miles from Bouse. It was the biggest gold discovery in Arizona in at least 50 years. Cyprus Gold profitably mined the 500,000 oz open pit resource during the 1980's. The Bouse Mining District is an historic gold producer.
About the Company:
Uranium Hunter Corporation (URHN) is an exploration company primarily targeting the uranium and precious metal industries in the resource sector. Initially, the Company was founded with the focus of developing a portfolio of quality uranium exploration properties in East Africa. With the recent shift in economic conditions, management has decided to diversity the Company's interests to include the precious metals industry.
Uranium Hunter Enters into Joint Venture on the Eagle Nest Mining Property
On Tuesday May 5, 2009, 2:18 pm EDT
Buzz up! Print TORONTO--(BUSINESS WIRE)--Uranium Hunter Corporation (OTCBB: URHN - News) announced today that it has entered into a Joint Venture Agreement to acquire 49% interest of the Eagle Nest Mining Property Claims (“Eagle Nest”) located in La Paz County, Arizona from Sparrowtech Resources, Inc.
Mr. Reno Calabrigo, President stated “This joint venture agreement represents a diversification to include the precious metal industry and will provide the Company with increased growth opportunity within the current economy.”
The Eagle Nest Mining Property
Eagle Nest includes a previously producing Au-Cu-Ag-Fe (Gold, Copper, Silver and Iron) mine located 10 miles off Highway 95 in La Paz County, Arizona. Easy access to the mine site and a good water supply will facilitate ease of construction for a potential processing plant as well as expansion of the mine site.
Mineralization previously documented on Eagle Nest is very fine-grained to visible flaky gold, with oxidized copper ores and staining, in a linear, lenticular ore body with a steeply dipping fault zone cutting metamorphic Mesozoic, red, hematitic shale. Lenticular ore body formed from oxidation and enrichment was also found in the fault zone.
Previous workings include a 400 feet (121.92 meter) deep shaft and about 170 feet of drifts on the 100 level with some near-surface stopes. The previous mining operation on this property recorded historic productions of 1,050 tons of ore averaging about 1.07 ounces per ton gold, 1.8% copper and 2.1 ounces per ton silver.
Uranium Hunter will be updating its corporate website www.uraniumhuntercorp.com and release further details on the property including assay and concentration testing results in the near future.
URHn DD
Company History
Subsequent to the fiscal year ended September 30, 2006, and in October 2006, we were granted the sole exclusive right and option to acquire up to a 100% undivided right, title and interest in and to the Gambaro Resources Property located in Njombe and Songea districts in the Republic of Tanzania. The Gambaro Resources Property, which is held under the terms of a Prospecting License issued by the government of Tanzania, is believed to cover sediments of the Karoo sequence which share common features with rocks of the Colorado Plateau in the western United States that have been prolific producers of uranium. Such project has been abandoned by us. See "The Gambaro Property" below.
On February 14, 2007, pursuant to a Certificate of Amendment to our Articles of Incorporation filed with the State of Nevada, we changed the name of the corporation from "Brownsville Company" to "Uranium Hunter Corporation".
On June 26, 2007, we were granted the sole and exclusive right and option to acquire up to a 75% undivided right, title and interest in and to the Nkoko and Kagadi Uranium Properties which contain approximately 820 square kilometers located in Kiballe District, Uganda (the "NPK Property").
Properties
The NPK Property
On June 26, 2007, we entered into an Option Agreement (the "NPK Agreement") with NPK Resources Ltd. ("NPK"), whereby NPK granted us the sole and exclusive right and option to acquire up to a 75% undivided right, title and interest in and to the Nkoko and Kagadi Uranium Properties which contain approximately 820 square kilometers located in Kiballe District, Uganda (the "NPK Property").
Under the terms of the NPK Agreement, NPK has granted us the sole and exclusive option to acquire up to a 75% undivided interest in and to the NPK Property by making a cash payment to NPK of $25,000 US within five days of signing the NPK Agreement. We paid $15,000 during the quarter ended June 30, 2007 and paid the balance of $10,000 in July 2007. We shall also be responsible for making all necessary property payments and taxes to keep the NPK Property in good standing. We shall maintain its 75% interest in the NPK Property after we pay the $25,000 as described above by completing the following cumulative exploration expenditures on the NPK Property totaling $150,000 US over a 36 month period:
(i) $50,000 in cumulative exploration expenditure within the first 12 months after signing the NPK Agreement; (ii) $100,00 in cumulative exploration expenditures within 24 months of signing of the NPK Agreement; and (iii) $150,000 in cumulative exploration expenditures within 36 months of signing of the NPK Agreement. If 36 months after the date of the NPK Agreement, we have not completed exploration expenses of $150,000, we may still maintain its 75% interest in the NPK Property if we issue in favor of NPK payments totaling up to $150,000 in shares of common stock of the Company or cash of up to $150,000 US at our sole option less the cumulative exploration expenditures already paid and/or met on the NPK Property. The value of the shares shall be determined as the average share price of the shares over the 30 business days of trading prior to the 36 month period as described herein provided, however, that the shares shall not be valued at less then $1.00 per share.
Once we have vested and maintained our 75% interest in the project (i.e. by spending $150,000 on the project within three years), the parties shall enter into a joint venture agreement and shall share proportionally in all exploration costs and payments subject to standard dilution terms.
In addition, once we have earned its 75% interest in the NPK Property, for a one year period from date of earn in, NPK shall be entitled to convert its 25% ownership of the NPK Property into common stock of the Company at the fair market value for NPK's 25% ownership of the NPK Property. The fair market value of the NPK Property shall be determined by the parties and if they cannot agree, shall be determined by three experts. Should NPK convert its 25% ownership into shares of common stock of the Company, then we shall own 100% of the NPK Property. The value of the shares shall be determined as the average share price of the shares over the 30 business days of trading prior to the election period, provided, however, that the shares shall not be valued at less than $1.00 per share.
We may terminate the NPK Agreement at any time by giving written notice to NPK of the termination of the NPK Agreement. If we fail to make any payment (optional, discretionary or otherwise) or fail to do anything on or before the last day provided for such payment or performance under the NPK Agreement, NPK may terminate the NPK Agreement but only if: (i) NPK has first given us written notice of the default containing particulars of the payment which we have not made or the act which we have not performed; and (ii) we have not, within 30 days following delivery of such notice, cured such default by appropriate payment or performance. Should we fail to comply with the foregoing, NPK may thereafter terminate the NPK Agreement by notice to the Company. Upon the termination of the NPK Agreement, we shall forfeit any and all interest in the NPK Property and shall cease to be liable to NPK.
The Eagle Nest Property
Effective April 21, 2009, the Company signed a Letter of Intent with Sparrowtech Resources, Inc, ("Optionor") for a right to earn 49% interest in the mineral claims situated in, La Paz, Arizona, USA collectively generally known and described as the 'Eagle Nest Mining Property' ("Eagle Nest"). The initial option period will be for a maximum of one year from the effective date. The Optionor granted to the Company the right and option to acquire a 49% interest in the Eagle Nest property by making the following payments to the Optionor plus the cost of expenditures for mining work ("Expenditures") and issuing shares of its capital as follows:
1. Deposit due on signing of LOI and $10,000
paid
Due and payable to the Optionor by $35,000
May 31, 2009
Work program commitment expenditures
to be incurred on exploration:
Within three months-Before July 21, $60,000
2009
Within nine months-Before January $90,000
21, 2010
Total within one year- Before April $150,000
21, 2010
2. The Company will issue two (2) million restricted common shares of the Company's common stock to the Optionor by May 15, 2009 (not yet issued)
3. On subsequent anniversary dates, the Company will pay $15,000 to the Optionor:
April 21, 2010 $15,000
April 21, 2011 $15,000
April 21, 2012 $15,000
Any expenditure incurred in excess for such period shall be credited towards the expenditures required for the succeeding period or periods. The initial option may be terminated by the Company at their sole discretion any time after the exploration payments for the initial minimum of nine months of assessment work and taxes are paid. If the Company elects to terminate the Initial Option, the Company will not have acquired any interest in the Property. During the initial option period, the Optionor will be the operator manager of the exploration programs and will be entitled to a 15% administration fee on exploration expenditures. All costs related to keeping the property in good standing including property taxes and costs to maintain the concessions in good standing will be considered allowed exploration expenditures.
Latest PR's
Uranium Hunter Releases Details on the Eagle Nest Mining Property
Last update: 6/8/2009 4:39:00 PM
TORONTO, June 8, 2009 /PRNewswire-FirstCall via COMTEX/ -- Uranium Hunter Corporation (URHN) is pleased to provide further details on the Eagle Nest Mining Property. The Company recently entered into a Joint Venture Agreement to acquire a 49% interest in the Eagle Nest Mining Property Claims ("Eagle Nest") located in La Paz County, Arizona.
Mr. Reno Calabrigo, President stated "The Company is excited about this venture into the Bouse Mining District, which has a long established history of producing profitable gold mining operations. We are in the process of evaluating the recent available data on the Eagle Nest Mining Property and will release this information shortly in conjunction with an announcement for an upcoming work program. Mr. Calabrigo further stated "During the 1980's, Cyprus Gold profitably mined the 500,000 oz Copperstone open pit resource, located approximately 20 miles from Bouse, which based on today's gold prices is valued at over $470,000,000."
History of the Bouse Mining District
The Bouse Mining District, where Eagle Nest is located, is a mid-tertiary system of epithermal mineralization, which was introduced into a stacked sequence of lithotectonic units that are located on the northern side of the Plomosa Detachment Fault. Complex epithermal gold, barite and fluorite mineralization is superimposed on earlier copper-specularite mineralization. Gold occurs in laterally extensive breccias and in steeply dipping amethystine-quartz veins. These deposits are similar to the proven and mined Copperstone and Mesquite deposits.
This District involves an important type of Arizona gold deposit, called a "detachment fault" deposit. Detachment fault deposits were first recognized as a separate form of gold deposit in the 1980's. The best example of an Arizona detachment gold deposit is Copperstone, which is about 20 miles from Bouse. It was the biggest gold discovery in Arizona in at least 50 years. Cyprus Gold profitably mined the 500,000 oz open pit resource during the 1980's. The Bouse Mining District is an historic gold producer.
About the Company:
Uranium Hunter Corporation (URHN) is an exploration company primarily targeting the uranium and precious metal industries in the resource sector. Initially, the Company was founded with the focus of developing a portfolio of quality uranium exploration properties in East Africa. With the recent shift in economic conditions, management has decided to diversity the Company's interests to include the precious metals industry.
Uranium Hunter Enters into Joint Venture on the Eagle Nest Mining Property
On Tuesday May 5, 2009, 2:18 pm EDT
Buzz up! Print TORONTO--(BUSINESS WIRE)--Uranium Hunter Corporation (OTCBB: URHN - News) announced today that it has entered into a Joint Venture Agreement to acquire 49% interest of the Eagle Nest Mining Property Claims (“Eagle Nest”) located in La Paz County, Arizona from Sparrowtech Resources, Inc.
Mr. Reno Calabrigo, President stated “This joint venture agreement represents a diversification to include the precious metal industry and will provide the Company with increased growth opportunity within the current economy.”
The Eagle Nest Mining Property
Eagle Nest includes a previously producing Au-Cu-Ag-Fe (Gold, Copper, Silver and Iron) mine located 10 miles off Highway 95 in La Paz County, Arizona. Easy access to the mine site and a good water supply will facilitate ease of construction for a potential processing plant as well as expansion of the mine site.
Mineralization previously documented on Eagle Nest is very fine-grained to visible flaky gold, with oxidized copper ores and staining, in a linear, lenticular ore body with a steeply dipping fault zone cutting metamorphic Mesozoic, red, hematitic shale. Lenticular ore body formed from oxidation and enrichment was also found in the fault zone.
Previous workings include a 400 feet (121.92 meter) deep shaft and about 170 feet of drifts on the 100 level with some near-surface stopes. The previous mining operation on this property recorded historic productions of 1,050 tons of ore averaging about 1.07 ounces per ton gold, 1.8% copper and 2.1 ounces per ton silver.
Uranium Hunter will be updating its corporate website www.uraniumhuntercorp.com and release further details on the property including assay and concentration testing results in the near future.
Morning. URHN - Watch for the dips, more info coming out on this one.
Mr. Reno Calabrigo, President stated "The Company is excited about this venture into the Bouse Mining District, which has a long established history of producing profitable gold mining operations. We are in the process of evaluating the recent available data on the Eagle Nest Mining Property and will release this information shortly in conjunction with an announcement for an upcoming work program. Mr. Calabrigo further stated "During the 1980's, Cyprus Gold profitably mined the 500,000 oz Copperstone open pit resource, located approximately 20 miles from Bouse, which based on today's gold prices is valued at over $470,000,000."
URHN - Watch for the dips, more info coming out ont his one.
Mr. Reno Calabrigo, President stated "The Company is excited about this venture into the Bouse Mining District, which has a long established history of producing profitable gold mining operations. We are in the process of evaluating the recent available data on the Eagle Nest Mining Property and will release this information shortly in conjunction with an announcement for an upcoming work program. Mr. Calabrigo further stated "During the 1980's, Cyprus Gold profitably mined the 500,000 oz Copperstone open pit resource, located approximately 20 miles from Bouse, which based on today's gold prices is valued at over $470,000,000."
Should be getting another update soon and the website should be updated as well.
Mr. Reno Calabrigo, President stated "The Company is excited about this venture into the Bouse Mining District, which has a long established history of producing profitable gold mining operations. We are in the process of evaluating the recent available data on the Eagle Nest Mining Property and will release this information shortly in conjunction with an announcement for an upcoming work program. Mr. Calabrigo further stated "During the 1980's, Cyprus Gold profitably mined the 500,000 oz Copperstone open pit resource, located approximately 20 miles from Bouse, which based on today's gold prices is valued at over $470,000,000."
Morning folks. Will have some consolidation before the next update so good time to watch for th dips.
http://www.stockscores.com/quickreport.asp?ticker=urhn
http://stockcharts.com/h-sc/ui
Keep an eye on HBAN bud.
Supply and Demand Drives Uranium Stocks Higher
the tickerspy.com Staff
On Friday May 29, 2009, 10:35 am EDT
Buzz up! Print Related:Cameco Corp., Denison Mines Corp., Uranium Energy Corp.
Uranium stocks were up to end the week on news that stockpiles may be insufficient.
The International Atomic Energy Agency said that uranium supplies in Russia and the US may only cover 5% of the world's demand by 2015, according to Bloomberg. Chaitanyamoy Ganguly, director of the agency's nuclear fuel forecasts, said spot prices between $50 and $100 would encourage further exploration and production. "A drop below $40," he warns, "would imperil new projects." Investors are buying up shares of uranium stocks today in hopes that the supply and demand concerns will drive up uranium spot prices.
As a whole, the Uranium Stocks Index is up by 2%. The Index is currently beating the S&P 500 by 7.6% over the last month.
Leading the way are Uranium Energy (AMEX: UEC - News) and Cameco (NYSE: CCJ - News), both of which are ahead by more than 3.5%.
Toronto-based Denison Mines (AMEX: DNN - News) is up by 3% today, as is Uranium Resources (NASDAQ: URRE - News). Denison is fighting to join the rest of the Index in positive territory for the week. Uranerz Energy (AMEX: URZ - News) posting gains of 1%.
Paladin Energy (OTC: PALAF - News) and USEC (NYSE: USU - News) are trading near breakeven.
As of this writing, the Uranium Stocks Index is one of the top-60 performing tickerspy Indexes over the last month, with gains of 12%.
Investors can follow the Uranium Stocks Index and view related performance charts and metrics at tickerspy.com.
Fun and informative, tickerspy.com is a free investing website where you can track multiple stock portfolios and compare against 250 proprietary Indexes tracking themes from nanotech to agriculture to precious metals. Best of all, tickerspy.com lets you spy on the portfolios of nearly 3,000 Wall Street institutions and hedge funds and see graphs of their performance. Try tickerspy.com today and find out how you stack up against investing legends like Warren Buffett!
Hey guys, here is a good site that for uranium. Lots of good stuff there.
http://www.u3o8.biz/s/Home.asp
Anyone contact contact the company yet? Just curious as to how well the communicate with the shareholders.
Just a little profit taking going on. More news to come in the near future. Should see some website updates soon according to previous PR's.
Yeah the low float is nice especially with management owning 43%!!!
Agreed.
And on the Uranium front:
Uranium prices are set to climb - Supplies dwindle even as Asia builds more nuclear reactors
by Matt Chambers
MELBOURNE - Prices for uranium, used to generate 16 percent of the world's electricity, may rise by a quarter this year as stockpiles of the nuclear fuel decrease and demand is set to rise from reactors being built in China and India.
"You have gone from a buyer's to a seller's market," said Bob Mitchell, who holds physical uranium worth more than $26 million for Adit Capital Management in Portland, Oregon. "Most reactors under construction haven't secured long-term supply and there is no inventory left among utilities."
Commercial stockpiles of the fuel dropped 50 percent between 1985 and 2003 because mine output could not keep up with demand, according to a September report by the Massachusetts Institute of Technology. Mine expansions may not meet demand, pushing up prices for uranium at miners such as Cameco, the world's biggest, and Energy Resources of Australia.
Cameco shares rose 68 percent last year and Energy Resources of Australia, which is 68 percent-owned by Rio Tinto Group, surged 94 percent. Paladin Resources, an Australian company that plans to mine uranium in Namibia, rose ninefold.
China is preparing to award an $8 billion contract to build four reactors in the world's biggest nuclear power construction program. The country plans to build 27 plants to meet a target of raising nuclear energy output fivefold by 2020. India aims to build 17 reactors to triple nuclear power capacity by 2012.
"Uranium prices will advance in 2005," said Mitchell at Adit Capital, who also owns Cameco shares as part of the $200 million he helps manage at another fund, Touchstone Investment Managers. "In China, they'll have to build a couple more reactors a year."
Concern about supply shortages helped increase spot prices of uranium to $20.50 a pound as of Dec. 31, according to Metal Bulletin. That is the highest since 1984, according to a report by Jeff Combs, president of Ux Consulting, based in Roswell, Georgia, which publishes spot uranium prices.
The spot market, which makes up about 12 percent of uranium sales, according to the World Nuclear Association, sets a price reference for long-term contracts between miners and utilities. Uranium prices rose to a record of more than $40 a pound in the late 1970s, according to Combs at Ux Consulting.
Contract prices paid by power companies may rise to $27 a pound this year from $20 a pound last year, a National Bank Financial analyst, Ian Howat, said in a Nov. 24 report. Long-term prices may rise to $26 a pound, a Goldman Sachs JBWere analyst, Ian Preston, said in a Dec. 14 report after attending a uranium conference in Sydney.
"It looks like current prices are here to stay and possibly rise significantly," Craig Kinnell, acting chief executive of Energy Resources of Australia, the world's third-biggest uranium miner, said in an interview Dec. 31.
"Inventories are falling and there has been little response to that in the way of more mine supply. Our contract prices have risen to reflect the spot price rises."
China aims to double total power generation capacity by 2020. It needs to add two reactors a year by then to meet a target of generating 4 percent of its power from nuclear plants.
Demand from China may help uranium prices double in the next two years and may triple demand for nuclear power by 2020, said Quinton George, managing director of Trinity Asset Management. The company owns 18 percent of Afrikander Lease, which holds South Africa's biggest uranium deposit.
"The supply deficit will affect this market for at least the next 10 years," Geroge said. "In the next two years we could well see uranium touching historical highs, at least doubling current prices."
China has begun talks with Australia, which holds the world's largest uranium reserves, to enable the fuel to be exported by Rio Tinto, the world's third-biggest miner, and WMC Resources, which owns the biggest deposit of the radioactive metal.
"We're working with the Australian government to get the ability to sell uranium to China," Bruce Brook, WMC's chief financial officer, said in an interview in November. "These guys have announced 32 nuclear power stations to be developed over the next 16 years."
The Melbourne-based WMC in November increased its long-term uranium forecast to $30 a pound and said that its Olympic Dam deposit could become the world's biggest uranium mine if a 4 billion Australian dollar, or $3 billion, expansion is approved. Cameco plans to increase production 18 percent at McArthur River in Canada, now the world's biggest uranium mine.
"We've got customers who are highly-concerned about the supply chain of uranium," said Brook at WMC, who is also in charge of the company's uranium marketing. "I can assure you the pricing that they have in mind is not going backward. Our expansion and one planned by Cameco won't fill the gap" between supply and demand, he said.
World demand will outpace supply by 11 percent in the decade ending in 2013 as inventories decline, the World Nuclear Association estimates.
The decline in stockpiles has been hastened by the decision of Russia, the world's biggest uranium exporter after Canada, in October 2003 to limit its exports to conserve fuel for 25 plants it wants to build by 2020.
Reactor fuel made from former Russian nuclear weapons powers one out of every 10 U.S. homes, according to the Washington-based Nuclear Energy Institute trade group.
Sure is, and the news yesterday is icing on the cake.
Morning all. URHN Chart and NEWS AH yesterady.
Uranium Hunter Releases Details on the Eagle Nest Mining Property
On Monday June 8, 2009, 4:39 pm EDT
http://finance.yahoo.com/news/Uranium-Hunter-Releases-prnews-15469653.html?.v=1
TORONTO, June 8 /PRNewswire-FirstCall/ -- Uranium Hunter Corporation (OTC Bulletin Board: URHN - News) is pleased to provide further details on the Eagle Nest Mining Property. The Company recently entered into a Joint Venture Agreement to acquire a 49% interest in the Eagle Nest Mining Property Claims ("Eagle Nest") located in La Paz County, Arizona.
Mr. Reno Calabrigo, President stated "The Company is excited about this venture into the Bouse Mining District, which has a long established history of producing profitable gold mining operations. We are in the process of evaluating the recent available data on the Eagle Nest Mining Property and will release this information shortly in conjunction with an announcement for an upcoming work program. Mr. Calabrigo further stated "During the 1980's, Cyprus Gold profitably mined the 500,000 oz Copperstone open pit resource, located approximately 20 miles from Bouse, which based on today's gold prices is valued at over $470,000,000."
History of the Bouse Mining District
The Bouse Mining District, where Eagle Nest is located, is a mid-tertiary system of epithermal mineralization, which was introduced into a stacked sequence of lithotectonic units that are located on the northern side of the Plomosa Detachment Fault. Complex epithermal gold, barite and fluorite mineralization is superimposed on earlier copper-specularite mineralization. Gold occurs in laterally extensive breccias and in steeply dipping amethystine-quartz veins. These deposits are similar to the proven and mined Copperstone and Mesquite deposits.
This District involves an important type of Arizona gold deposit, called a "detachment fault" deposit. Detachment fault deposits were first recognized as a separate form of gold deposit in the 1980's. The best example of an Arizona detachment gold deposit is Copperstone, which is about 20 miles from Bouse. It was the biggest gold discovery in Arizona in at least 50 years. Cyprus Gold profitably mined the 500,000 oz open pit resource during the 1980's. The Bouse Mining District is an historic gold producer.
About the Company:
Uranium Hunter Corporation (OTCBB: URHN - News) is an exploration company primarily targeting the uranium and precious metal industries in the resource sector. Initially, the Company was founded with the focus of developing a portfolio of quality uranium exploration properties in East Africa. With the recent shift in economic conditions, management has decided to diversity the Company's interests to include the precious metals industry.
For further information on the Eagle Nest Mining Property, please visit our new website at: www.uraniumhuntercorp.com
Safe Harbor
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Uranium Hunter Corporation and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
Morning all. URHN Chart and NEWS AH yesterady.
Uranium Hunter Releases Details on the Eagle Nest Mining Property
On Monday June 8, 2009, 4:39 pm EDT
http://finance.yahoo.com/news/Uranium-Hunter-Releases-prnews-15469653.html?.v=1
TORONTO, June 8 /PRNewswire-FirstCall/ -- Uranium Hunter Corporation (OTC Bulletin Board: URHN - News) is pleased to provide further details on the Eagle Nest Mining Property. The Company recently entered into a Joint Venture Agreement to acquire a 49% interest in the Eagle Nest Mining Property Claims ("Eagle Nest") located in La Paz County, Arizona.
Mr. Reno Calabrigo, President stated "The Company is excited about this venture into the Bouse Mining District, which has a long established history of producing profitable gold mining operations. We are in the process of evaluating the recent available data on the Eagle Nest Mining Property and will release this information shortly in conjunction with an announcement for an upcoming work program. Mr. Calabrigo further stated "During the 1980's, Cyprus Gold profitably mined the 500,000 oz Copperstone open pit resource, located approximately 20 miles from Bouse, which based on today's gold prices is valued at over $470,000,000."
History of the Bouse Mining District
The Bouse Mining District, where Eagle Nest is located, is a mid-tertiary system of epithermal mineralization, which was introduced into a stacked sequence of lithotectonic units that are located on the northern side of the Plomosa Detachment Fault. Complex epithermal gold, barite and fluorite mineralization is superimposed on earlier copper-specularite mineralization. Gold occurs in laterally extensive breccias and in steeply dipping amethystine-quartz veins. These deposits are similar to the proven and mined Copperstone and Mesquite deposits.
This District involves an important type of Arizona gold deposit, called a "detachment fault" deposit. Detachment fault deposits were first recognized as a separate form of gold deposit in the 1980's. The best example of an Arizona detachment gold deposit is Copperstone, which is about 20 miles from Bouse. It was the biggest gold discovery in Arizona in at least 50 years. Cyprus Gold profitably mined the 500,000 oz open pit resource during the 1980's. The Bouse Mining District is an historic gold producer.
About the Company:
Uranium Hunter Corporation (OTCBB: URHN - News) is an exploration company primarily targeting the uranium and precious metal industries in the resource sector. Initially, the Company was founded with the focus of developing a portfolio of quality uranium exploration properties in East Africa. With the recent shift in economic conditions, management has decided to diversity the Company's interests to include the precious metals industry.
For further information on the Eagle Nest Mining Property, please visit our new website at: www.uraniumhuntercorp.com
Safe Harbor
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Uranium Hunter Corporation and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
And you gotta love this SS.
Shares Outstanding: 64,320,000
Restricted: 30,000,000
Free Trading: 34,320,000
Management Holds 46% of Outstanding Shares
Morning people. URHN
Company History
Subsequent to the fiscal year ended September 30, 2006, and in October 2006, we were granted the sole exclusive right and option to
acquire up to a 100% undivided right, title and interest in and to the Gambaro Resources Property located in Njombe and Songea
districts in the Republic of Tanzania. The Gambaro Resources Property, which is held under the terms of a Prospecting License issued
by the government of Tanzania, is believed to cover sediments of the Karoo sequence which share common features with rocks of the
Colorado Plateau in the western United States that have been prolific producers of uranium. Such project has been abandoned by us.
See "The Gambaro Property" below.
On February 14, 2007, pursuant to a Certificate of Amendment to our Articles of Incorporation filed with the State of Nevada, we
changed the name of the corporation from "Brownsville Company" to "Uranium Hunter Corporation".
On June 26, 2007, we were granted the sole and exclusive right and option to acquire up to a 75% undivided right, title and interest
in and to the Nkoko and Kagadi Uranium Properties which contain approximately 820 square kilometers located in Kiballe District,
Uganda (the "NPK Property").
Properties
The NPK Property
On June 26, 2007, we entered into an Option Agreement (the "NPK Agreement") with NPK Resources Ltd. ("NPK"), whereby NPK granted us
the sole and exclusive right and option to acquire up to a 75% undivided right, title and interest in and to the Nkoko and Kagadi
Uranium Properties which contain approximately 820 square kilometers located in Kiballe District, Uganda (the "NPK Property").
Under the terms of the NPK Agreement, NPK has granted us the sole and exclusive option to acquire up to a 75% undivided interest in
and to the NPK Property by making a cash payment to NPK of $25,000 US within five days of signing the NPK Agreement. We paid $15,000
during the quarter ended June 30, 2007 and paid the balance of $10,000 in July 2007. We shall also be responsible for making all
necessary property payments and taxes to keep the NPK Property in good standing. We shall maintain its 75% interest in the NPK
Property after we pay the $25,000 as described above by completing the following cumulative exploration expenditures on the NPK
Property totaling $150,000 US over a 36 month period:
(i) $50,000 in cumulative exploration expenditure within the first 12 months after signing the NPK Agreement; (ii) $100,00 in
cumulative exploration expenditures within 24 months of signing of the NPK Agreement; and (iii) $150,000 in cumulative exploration
expenditures within 36 months of signing of the NPK Agreement. If 36 months after the date of the NPK Agreement, we have not
completed exploration expenses of $150,000, we may still maintain its 75% interest in the NPK Property if we issue in favor of NPK
payments totaling up to $150,000 in shares of common stock of the Company or cash of up to $150,000 US at our sole option less the
cumulative exploration expenditures already paid and/or met on the NPK Property. The value of the shares shall be determined as the
average share price of the shares over the 30 business days of trading prior to the 36 month period as described herein provided,
however, that the shares shall not be valued at less then $1.00 per share.
Once we have vested and maintained our 75% interest in the project (i.e. by spending $150,000 on the project within three years), the
parties shall enter into a joint venture agreement and shall share proportionally in all exploration costs and payments subject to
standard dilution terms.
In addition, once we have earned its 75% interest in the NPK Property, for a one year period from date of earn in, NPK shall be
entitled to convert its 25% ownership of the NPK Property into common stock of the Company at the fair market value for NPK's 25%
ownership of the NPK Property. The fair market value of the NPK Property shall be determined by the parties and if they cannot agree,
shall be determined by three experts. Should NPK convert its 25% ownership into shares of common stock of the Company, then we shall
own 100% of the NPK Property. The value of the shares shall be determined as the average share price of the shares over the 30
business days of trading prior to the election period, provided, however, that the shares shall not be valued at less than $1.00 per
share.
We may terminate the NPK Agreement at any time by giving written notice to NPK of the termination of the NPK Agreement. If we fail to
make any payment (optional, discretionary or otherwise) or fail to do anything on or before the last day provided for such payment or
performance under the NPK Agreement, NPK may terminate the NPK Agreement but only if: (i) NPK has first given us written notice of
the default containing particulars of the payment which we have not made or the act which we have not performed; and (ii) we have
not, within 30 days following delivery of such notice, cured such default by appropriate payment or performance. Should we fail to
comply with the foregoing, NPK may thereafter terminate the NPK Agreement by notice to the Company. Upon the termination of the NPK
Agreement, we shall forfeit any and all interest in the NPK Property and shall cease to be liable to NPK.
The Eagle Nest Property
Effective April 21, 2009, the Company signed a Letter of Intent with Sparrowtech Resources, Inc, ("Optionor") for a right to earn 49%
interest in the mineral claims situated in, La Paz, Arizona, USA collectively generally known and described as the 'Eagle Nest Mining
Property' ("Eagle Nest"). The initial option period will be for a maximum of one year from the effective date. The Optionor granted
to the Company the right and option to acquire a 49% interest in the Eagle Nest property by making the following payments to the
Optionor plus the cost of expenditures for mining work ("Expenditures") and issuing shares of its capital as follows:
1. Deposit due on signing of LOI and $10,000
paid
Due and payable to the Optionor by $35,000
May 31, 2009
Work program commitment expenditures
to be incurred on exploration:
Within three months-Before July 21, $60,000
2009
Within nine months-Before January $90,000
21, 2010
Total within one year- Before April $150,000
21, 2010
2. The Company will issue two (2) million restricted common shares of the Company's common stock to the Optionor by May 15, 2009 (not
yet issued)
3. On subsequent anniversary dates, the Company will pay $15,000 to the Optionor:
April 21, 2010 $15,000
April 21, 2011 $15,000
April 21, 2012 $15,000
Any expenditure incurred in excess for such period shall be credited towards the expenditures required for the succeeding period or
periods. The initial option may be terminated by the Company at their sole discretion any time after the exploration payments for the
initial minimum of nine months of assessment work and taxes are paid. If the Company elects to terminate the Initial Option, the
Company will not have acquired any interest in the Property. During the initial option period, the Optionor will be the operator
manager of the exploration programs and will be entitled to a 15% administration fee on exploration expenditures. All costs related
to keeping the property in good standing including property taxes and costs to maintain the concessions in good standing will be
considered allowed exploration expenditures.
Latest PR's
Uranium Hunter Releases Details on the Eagle Nest Mining Property
Last update: 6/8/2009 4:39:00 PM
TORONTO, June 8, 2009 /PRNewswire-FirstCall via COMTEX/ -- Uranium Hunter Corporation (URHN) is pleased to provide further details on
the Eagle Nest Mining Property. The Company recently entered into a Joint Venture Agreement to acquire a 49% interest in the Eagle
Nest Mining Property Claims ("Eagle Nest") located in La Paz County, Arizona.
Mr. Reno Calabrigo, President stated "The Company is excited about this venture into the Bouse Mining District, which has a long
established history of producing profitable gold mining operations. We are in the process of evaluating the recent available data on
the Eagle Nest Mining Property and will release this information shortly in conjunction with an announcement for an upcoming work
program. Mr. Calabrigo further stated "During the 1980's, Cyprus Gold profitably mined the 500,000 oz Copperstone open pit resource,
located approximately 20 miles from Bouse, which based on today's gold prices is valued at over $470,000,000."
History of the Bouse Mining District
The Bouse Mining District, where Eagle Nest is located, is a mid-tertiary system of epithermal mineralization, which was introduced
into a stacked sequence of lithotectonic units that are located on the northern side of the Plomosa Detachment Fault. Complex
epithermal gold, barite and fluorite mineralization is superimposed on earlier copper-specularite mineralization. Gold occurs in
laterally extensive breccias and in steeply dipping amethystine-quartz veins. These deposits are similar to the proven and mined
Copperstone and Mesquite deposits.
This District involves an important type of Arizona gold deposit, called a "detachment fault" deposit. Detachment fault deposits were
first recognized as a separate form of gold deposit in the 1980's. The best example of an Arizona detachment gold deposit is
Copperstone, which is about 20 miles from Bouse. It was the biggest gold discovery in Arizona in at least 50 years. Cyprus Gold
profitably mined the 500,000 oz open pit resource during the 1980's. The Bouse Mining District is an historic gold producer.
About the Company:
Uranium Hunter Corporation (URHN) is an exploration company primarily targeting the uranium and precious metal industries in the
resource sector. Initially, the Company was founded with the focus of developing a portfolio of quality uranium exploration
properties in East Africa. With the recent shift in economic conditions, management has decided to diversity the Company's interests
to include the precious metals industry.
Uranium Hunter Enters into Joint Venture on the Eagle Nest Mining Property
On Tuesday May 5, 2009, 2:18 pm EDT
Buzz up! Print TORONTO--(BUSINESS WIRE)--Uranium Hunter Corporation (OTCBB: URHN - News) announced today that it has entered
into a Joint Venture Agreement to acquire 49% interest of the Eagle Nest Mining Property Claims (“Eagle Nest”) located in La Paz
County, Arizona from Sparrowtech Resources, Inc.
Mr. Reno Calabrigo, President stated “This joint venture agreement represents a diversification to include the precious metal
industry and will provide the Company with increased growth opportunity within the current economy.”
The Eagle Nest Mining Property
Eagle Nest includes a previously producing Au-Cu-Ag-Fe (Gold, Copper, Silver and Iron) mine located 10 miles off Highway 95 in La Paz
County, Arizona. Easy access to the mine site and a good water supply will facilitate ease of construction for a potential processing
plant as well as expansion of the mine site.
Mineralization previously documented on Eagle Nest is very fine-grained to visible flaky gold, with oxidized copper ores and
staining, in a linear, lenticular ore body with a steeply dipping fault zone cutting metamorphic Mesozoic, red, hematitic shale.
Lenticular ore body formed from oxidation and enrichment was also found in the fault zone.
Previous workings include a 400 feet (121.92 meter) deep shaft and about 170 feet of drifts on the 100 level with some near-surface
stopes. The previous mining operation on this property recorded historic productions of 1,050 tons of ore averaging about 1.07 ounces
per ton gold, 1.8% copper and 2.1 ounces per ton silver.
Uranium Hunter will be updating its corporate website www.uraniumhuntercorp.com and release further details on the property including
assay and concentration testing results in the near future.
Morning people. Some URHN DD.
Company History
Subsequent to the fiscal year ended September 30, 2006, and in October 2006, we were granted the sole exclusive right and option to
acquire up to a 100% undivided right, title and interest in and to the Gambaro Resources Property located in Njombe and Songea
districts in the Republic of Tanzania. The Gambaro Resources Property, which is held under the terms of a Prospecting License issued
by the government of Tanzania, is believed to cover sediments of the Karoo sequence which share common features with rocks of the
Colorado Plateau in the western United States that have been prolific producers of uranium. Such project has been abandoned by us.
See "The Gambaro Property" below.
On February 14, 2007, pursuant to a Certificate of Amendment to our Articles of Incorporation filed with the State of Nevada, we
changed the name of the corporation from "Brownsville Company" to "Uranium Hunter Corporation".
On June 26, 2007, we were granted the sole and exclusive right and option to acquire up to a 75% undivided right, title and interest
in and to the Nkoko and Kagadi Uranium Properties which contain approximately 820 square kilometers located in Kiballe District,
Uganda (the "NPK Property").
Properties
The NPK Property
On June 26, 2007, we entered into an Option Agreement (the "NPK Agreement") with NPK Resources Ltd. ("NPK"), whereby NPK granted us
the sole and exclusive right and option to acquire up to a 75% undivided right, title and interest in and to the Nkoko and Kagadi
Uranium Properties which contain approximately 820 square kilometers located in Kiballe District, Uganda (the "NPK Property").
Under the terms of the NPK Agreement, NPK has granted us the sole and exclusive option to acquire up to a 75% undivided interest in
and to the NPK Property by making a cash payment to NPK of $25,000 US within five days of signing the NPK Agreement. We paid $15,000
during the quarter ended June 30, 2007 and paid the balance of $10,000 in July 2007. We shall also be responsible for making all
necessary property payments and taxes to keep the NPK Property in good standing. We shall maintain its 75% interest in the NPK
Property after we pay the $25,000 as described above by completing the following cumulative exploration expenditures on the NPK
Property totaling $150,000 US over a 36 month period:
(i) $50,000 in cumulative exploration expenditure within the first 12 months after signing the NPK Agreement; (ii) $100,00 in
cumulative exploration expenditures within 24 months of signing of the NPK Agreement; and (iii) $150,000 in cumulative exploration
expenditures within 36 months of signing of the NPK Agreement. If 36 months after the date of the NPK Agreement, we have not
completed exploration expenses of $150,000, we may still maintain its 75% interest in the NPK Property if we issue in favor of NPK
payments totaling up to $150,000 in shares of common stock of the Company or cash of up to $150,000 US at our sole option less the
cumulative exploration expenditures already paid and/or met on the NPK Property. The value of the shares shall be determined as the
average share price of the shares over the 30 business days of trading prior to the 36 month period as described herein provided,
however, that the shares shall not be valued at less then $1.00 per share.
Once we have vested and maintained our 75% interest in the project (i.e. by spending $150,000 on the project within three years), the
parties shall enter into a joint venture agreement and shall share proportionally in all exploration costs and payments subject to
standard dilution terms.
In addition, once we have earned its 75% interest in the NPK Property, for a one year period from date of earn in, NPK shall be
entitled to convert its 25% ownership of the NPK Property into common stock of the Company at the fair market value for NPK's 25%
ownership of the NPK Property. The fair market value of the NPK Property shall be determined by the parties and if they cannot agree,
shall be determined by three experts. Should NPK convert its 25% ownership into shares of common stock of the Company, then we shall
own 100% of the NPK Property. The value of the shares shall be determined as the average share price of the shares over the 30
business days of trading prior to the election period, provided, however, that the shares shall not be valued at less than $1.00 per
share.
We may terminate the NPK Agreement at any time by giving written notice to NPK of the termination of the NPK Agreement. If we fail to
make any payment (optional, discretionary or otherwise) or fail to do anything on or before the last day provided for such payment or
performance under the NPK Agreement, NPK may terminate the NPK Agreement but only if: (i) NPK has first given us written notice of
the default containing particulars of the payment which we have not made or the act which we have not performed; and (ii) we have
not, within 30 days following delivery of such notice, cured such default by appropriate payment or performance. Should we fail to
comply with the foregoing, NPK may thereafter terminate the NPK Agreement by notice to the Company. Upon the termination of the NPK
Agreement, we shall forfeit any and all interest in the NPK Property and shall cease to be liable to NPK.
The Eagle Nest Property
Effective April 21, 2009, the Company signed a Letter of Intent with Sparrowtech Resources, Inc, ("Optionor") for a right to earn 49%
interest in the mineral claims situated in, La Paz, Arizona, USA collectively generally known and described as the 'Eagle Nest Mining
Property' ("Eagle Nest"). The initial option period will be for a maximum of one year from the effective date. The Optionor granted
to the Company the right and option to acquire a 49% interest in the Eagle Nest property by making the following payments to the
Optionor plus the cost of expenditures for mining work ("Expenditures") and issuing shares of its capital as follows:
1. Deposit due on signing of LOI and $10,000
paid
Due and payable to the Optionor by $35,000
May 31, 2009
Work program commitment expenditures
to be incurred on exploration:
Within three months-Before July 21, $60,000
2009
Within nine months-Before January $90,000
21, 2010
Total within one year- Before April $150,000
21, 2010
2. The Company will issue two (2) million restricted common shares of the Company's common stock to the Optionor by May 15, 2009 (not
yet issued)
3. On subsequent anniversary dates, the Company will pay $15,000 to the Optionor:
April 21, 2010 $15,000
April 21, 2011 $15,000
April 21, 2012 $15,000
Any expenditure incurred in excess for such period shall be credited towards the expenditures required for the succeeding period or
periods. The initial option may be terminated by the Company at their sole discretion any time after the exploration payments for the
initial minimum of nine months of assessment work and taxes are paid. If the Company elects to terminate the Initial Option, the
Company will not have acquired any interest in the Property. During the initial option period, the Optionor will be the operator
manager of the exploration programs and will be entitled to a 15% administration fee on exploration expenditures. All costs related
to keeping the property in good standing including property taxes and costs to maintain the concessions in good standing will be
considered allowed exploration expenditures.
Latest PR's
Uranium Hunter Releases Details on the Eagle Nest Mining Property
Last update: 6/8/2009 4:39:00 PM
TORONTO, June 8, 2009 /PRNewswire-FirstCall via COMTEX/ -- Uranium Hunter Corporation (URHN) is pleased to provide further details on
the Eagle Nest Mining Property. The Company recently entered into a Joint Venture Agreement to acquire a 49% interest in the Eagle
Nest Mining Property Claims ("Eagle Nest") located in La Paz County, Arizona.
Mr. Reno Calabrigo, President stated "The Company is excited about this venture into the Bouse Mining District, which has a long
established history of producing profitable gold mining operations. We are in the process of evaluating the recent available data on
the Eagle Nest Mining Property and will release this information shortly in conjunction with an announcement for an upcoming work
program. Mr. Calabrigo further stated "During the 1980's, Cyprus Gold profitably mined the 500,000 oz Copperstone open pit resource,
located approximately 20 miles from Bouse, which based on today's gold prices is valued at over $470,000,000."
History of the Bouse Mining District
The Bouse Mining District, where Eagle Nest is located, is a mid-tertiary system of epithermal mineralization, which was introduced
into a stacked sequence of lithotectonic units that are located on the northern side of the Plomosa Detachment Fault. Complex
epithermal gold, barite and fluorite mineralization is superimposed on earlier copper-specularite mineralization. Gold occurs in
laterally extensive breccias and in steeply dipping amethystine-quartz veins. These deposits are similar to the proven and mined
Copperstone and Mesquite deposits.
This District involves an important type of Arizona gold deposit, called a "detachment fault" deposit. Detachment fault deposits were
first recognized as a separate form of gold deposit in the 1980's. The best example of an Arizona detachment gold deposit is
Copperstone, which is about 20 miles from Bouse. It was the biggest gold discovery in Arizona in at least 50 years. Cyprus Gold
profitably mined the 500,000 oz open pit resource during the 1980's. The Bouse Mining District is an historic gold producer.
About the Company:
Uranium Hunter Corporation (URHN) is an exploration company primarily targeting the uranium and precious metal industries in the
resource sector. Initially, the Company was founded with the focus of developing a portfolio of quality uranium exploration
properties in East Africa. With the recent shift in economic conditions, management has decided to diversity the Company's interests
to include the precious metals industry.
Uranium Hunter Enters into Joint Venture on the Eagle Nest Mining Property
On Tuesday May 5, 2009, 2:18 pm EDT
Buzz up! Print TORONTO--(BUSINESS WIRE)--Uranium Hunter Corporation (OTCBB: URHN - News) announced today that it has entered
into a Joint Venture Agreement to acquire 49% interest of the Eagle Nest Mining Property Claims (“Eagle Nest”) located in La Paz
County, Arizona from Sparrowtech Resources, Inc.
Mr. Reno Calabrigo, President stated “This joint venture agreement represents a diversification to include the precious metal
industry and will provide the Company with increased growth opportunity within the current economy.”
The Eagle Nest Mining Property
Eagle Nest includes a previously producing Au-Cu-Ag-Fe (Gold, Copper, Silver and Iron) mine located 10 miles off Highway 95 in La Paz
County, Arizona. Easy access to the mine site and a good water supply will facilitate ease of construction for a potential processing
plant as well as expansion of the mine site.
Mineralization previously documented on Eagle Nest is very fine-grained to visible flaky gold, with oxidized copper ores and
staining, in a linear, lenticular ore body with a steeply dipping fault zone cutting metamorphic Mesozoic, red, hematitic shale.
Lenticular ore body formed from oxidation and enrichment was also found in the fault zone.
Previous workings include a 400 feet (121.92 meter) deep shaft and about 170 feet of drifts on the 100 level with some near-surface
stopes. The previous mining operation on this property recorded historic productions of 1,050 tons of ore averaging about 1.07 ounces
per ton gold, 1.8% copper and 2.1 ounces per ton silver.
Uranium Hunter will be updating its corporate website www.uraniumhuntercorp.com and release further details on the property including
assay and concentration testing results in the near future.
LOL, Nice to see eh?
If URHN can hit half of what Cypress gold hit in the 80's we are GOLDEN!!!
Sweet!!!!
The Company is excited about this venture into the Bouse Mining District, which has a long established history of producing profitable gold mining operations. We are in the process of evaluating the recent available data on the Eagle Nest Mining Property and will release this information shortly in conjunction with an announcement for an upcoming work program. Mr. Calabrigo further stated "During the 1980's, Cyprus Gold profitably mined the 500,000 oz Copperstone open pit resource, located approximately 20 miles from Bouse, which based on today's gold prices is valued at over $470,000,000."
Uranium Hunter Releases Details on the Eagle Nest Mining Property
Last update: 6/8/2009 4:39:00 PM
TORONTO, June 8, 2009 /PRNewswire-FirstCall via COMTEX/ -- Uranium Hunter Corporation (URHN) is pleased to provide further details on the Eagle Nest Mining Property. The Company recently entered into a Joint Venture Agreement to acquire a 49% interest in the Eagle Nest Mining Property Claims ("Eagle Nest") located in La Paz County, Arizona.
Mr. Reno Calabrigo, President stated "The Company is excited about this venture into the Bouse Mining District, which has a long established history of producing profitable gold mining operations. We are in the process of evaluating the recent available data on the Eagle Nest Mining Property and will release this information shortly in conjunction with an announcement for an upcoming work program. Mr. Calabrigo further stated "During the 1980's, Cyprus Gold profitably mined the 500,000 oz Copperstone open pit resource, located approximately 20 miles from Bouse, which based on today's gold prices is valued at over $470,000,000."
History of the Bouse Mining District
The Bouse Mining District, where Eagle Nest is located, is a mid-tertiary system of epithermal mineralization, which was introduced into a stacked sequence of lithotectonic units that are located on the northern side of the Plomosa Detachment Fault. Complex epithermal gold, barite and fluorite mineralization is superimposed on earlier copper-specularite mineralization. Gold occurs in laterally extensive breccias and in steeply dipping amethystine-quartz veins. These deposits are similar to the proven and mined Copperstone and Mesquite deposits.
This District involves an important type of Arizona gold deposit, called a "detachment fault" deposit. Detachment fault deposits were first recognized as a separate form of gold deposit in the 1980's. The best example of an Arizona detachment gold deposit is Copperstone, which is about 20 miles from Bouse. It was the biggest gold discovery in Arizona in at least 50 years. Cyprus Gold profitably mined the 500,000 oz open pit resource during the 1980's. The Bouse Mining District is an historic gold producer.
About the Company:
Uranium Hunter Corporation (URHN) is an exploration company primarily targeting the uranium and precious metal industries in the resource sector. Initially, the Company was founded with the focus of developing a portfolio of quality uranium exploration properties in East Africa. With the recent shift in economic conditions, management has decided to diversity the Company's interests to include the precious metals industry.
Uranium Hunter Releases Details on the Eagle Nest Mining Property
Last update: 6/8/2009 4:39:00 PM
TORONTO, June 8, 2009 /PRNewswire-FirstCall via COMTEX/ -- Uranium Hunter Corporation (URHN) is pleased to provide further details on the Eagle Nest Mining Property. The Company recently entered into a Joint Venture Agreement to acquire a 49% interest in the Eagle Nest Mining Property Claims ("Eagle Nest") located in La Paz County, Arizona.
Mr. Reno Calabrigo, President stated "The Company is excited about this venture into the Bouse Mining District, which has a long established history of producing profitable gold mining operations. We are in the process of evaluating the recent available data on the Eagle Nest Mining Property and will release this information shortly in conjunction with an announcement for an upcoming work program. Mr. Calabrigo further stated "During the 1980's, Cyprus Gold profitably mined the 500,000 oz Copperstone open pit resource, located approximately 20 miles from Bouse, which based on today's gold prices is valued at over $470,000,000."
History of the Bouse Mining District
The Bouse Mining District, where Eagle Nest is located, is a mid-tertiary system of epithermal mineralization, which was introduced into a stacked sequence of lithotectonic units that are located on the northern side of the Plomosa Detachment Fault. Complex epithermal gold, barite and fluorite mineralization is superimposed on earlier copper-specularite mineralization. Gold occurs in laterally extensive breccias and in steeply dipping amethystine-quartz veins. These deposits are similar to the proven and mined Copperstone and Mesquite deposits.
This District involves an important type of Arizona gold deposit, called a "detachment fault" deposit. Detachment fault deposits were first recognized as a separate form of gold deposit in the 1980's. The best example of an Arizona detachment gold deposit is Copperstone, which is about 20 miles from Bouse. It was the biggest gold discovery in Arizona in at least 50 years. Cyprus Gold profitably mined the 500,000 oz open pit resource during the 1980's. The Bouse Mining District is an historic gold producer.
About the Company:
Uranium Hunter Corporation (URHN) is an exploration company primarily targeting the uranium and precious metal industries in the resource sector. Initially, the Company was founded with the focus of developing a portfolio of quality uranium exploration properties in East Africa. With the recent shift in economic conditions, management has decided to diversity the Company's interests to include the precious metals industry.
Looking good today. Anyone able to contact the company yet? Curious as to when we might get some more info on this JV.
Company does seem to be heading in the right direction that's for sure. Gold and Uranium are good sectors to be in IMO.
Uranium stocks going to be big players in the near future.
Analyst says China's uranium demand could tighten supply
By Tom Stundza -- Purchasing, 5/13/2009 9:54:00 AM
Salida Capital analysts in Toronto believe that a possible 35% increase in the number of nuclear power plants operating worldwide this decade could create a supply shortage in the supply of uranium yellowcake--especially if China decides to stockpile the metal to avert domestic shortages.
Global mine output of uranium is about 107 million lbs annually, says Salida Capital’s analysis, far less than demand of some 168 million lbs, with the shortfall coming from secondary supplies (primarily government inventories). “If we simplistically assume the average new reactor consumes as much fuel as those currently operating, the industry must source an additional 59 million lbs of uranium annually on an ongoing basis—and likely within the next decade,” Salida analysts propose. That would mean a 55% increase in mine output from current levels.
Salida Capital suggests the bulk of future uranium supply growth depends on three key regions of Kazakhstan, Canada (in Saskatchewan) and Australia.
URHN DD and CHart
Company History
Subsequent to the fiscal year ended September 30, 2006, and in October 2006, we were granted the sole exclusive right and option to
acquire up to a 100% undivided right, title and interest in and to the Gambaro Resources Property located in Njombe and Songea
districts in the Republic of Tanzania. The Gambaro Resources Property, which is held under the terms of a Prospecting License issued
by the government of Tanzania, is believed to cover sediments of the Karoo sequence which share common features with rocks of the
Colorado Plateau in the western United States that have been prolific producers of uranium. Such project has been abandoned by us.
See "The Gambaro Property" below.
On February 14, 2007, pursuant to a Certificate of Amendment to our Articles of Incorporation filed with the State of Nevada, we
changed the name of the corporation from "Brownsville Company" to "Uranium Hunter Corporation".
On June 26, 2007, we were granted the sole and exclusive right and option to acquire up to a 75% undivided right, title and interest
in and to the Nkoko and Kagadi Uranium Properties which contain approximately 820 square kilometers located in Kiballe District,
Uganda (the "NPK Property").
Properties
The NPK Property
On June 26, 2007, we entered into an Option Agreement (the "NPK Agreement") with NPK Resources Ltd. ("NPK"), whereby NPK granted us
the sole and exclusive right and option to acquire up to a 75% undivided right, title and interest in and to the Nkoko and Kagadi
Uranium Properties which contain approximately 820 square kilometers located in Kiballe District, Uganda (the "NPK Property").
Under the terms of the NPK Agreement, NPK has granted us the sole and exclusive option to acquire up to a 75% undivided interest in
and to the NPK Property by making a cash payment to NPK of $25,000 US within five days of signing the NPK Agreement. We paid $15,000
during the quarter ended June 30, 2007 and paid the balance of $10,000 in July 2007. We shall also be responsible for making all
necessary property payments and taxes to keep the NPK Property in good standing. We shall maintain its 75% interest in the NPK
Property after we pay the $25,000 as described above by completing the following cumulative exploration expenditures on the NPK
Property totaling $150,000 US over a 36 month period:
(i) $50,000 in cumulative exploration expenditure within the first 12 months after signing the NPK Agreement; (ii) $100,00 in
cumulative exploration expenditures within 24 months of signing of the NPK Agreement; and (iii) $150,000 in cumulative exploration
expenditures within 36 months of signing of the NPK Agreement. If 36 months after the date of the NPK Agreement, we have not
completed exploration expenses of $150,000, we may still maintain its 75% interest in the NPK Property if we issue in favor of NPK
payments totaling up to $150,000 in shares of common stock of the Company or cash of up to $150,000 US at our sole option less the
cumulative exploration expenditures already paid and/or met on the NPK Property. The value of the shares shall be determined as the
average share price of the shares over the 30 business days of trading prior to the 36 month period as described herein provided,
however, that the shares shall not be valued at less then $1.00 per share.
Once we have vested and maintained our 75% interest in the project (i.e. by spending $150,000 on the project within three years), the
parties shall enter into a joint venture agreement and shall share proportionally in all exploration costs and payments subject to
standard dilution terms.
In addition, once we have earned its 75% interest in the NPK Property, for a one year period from date of earn in, NPK shall be
entitled to convert its 25% ownership of the NPK Property into common stock of the Company at the fair market value for NPK's 25%
ownership of the NPK Property. The fair market value of the NPK Property shall be determined by the parties and if they cannot agree,
shall be determined by three experts. Should NPK convert its 25% ownership into shares of common stock of the Company, then we shall
own 100% of the NPK Property. The value of the shares shall be determined as the average share price of the shares over the 30
business days of trading prior to the election period, provided, however, that the shares shall not be valued at less than $1.00 per
share.
We may terminate the NPK Agreement at any time by giving written notice to NPK of the termination of the NPK Agreement. If we fail to
make any payment (optional, discretionary or otherwise) or fail to do anything on or before the last day provided for such payment or
performance under the NPK Agreement, NPK may terminate the NPK Agreement but only if: (i) NPK has first given us written notice of
the default containing particulars of the payment which we have not made or the act which we have not performed; and (ii) we have
not, within 30 days following delivery of such notice, cured such default by appropriate payment or performance. Should we fail to
comply with the foregoing, NPK may thereafter terminate the NPK Agreement by notice to the Company. Upon the termination of the NPK
Agreement, we shall forfeit any and all interest in the NPK Property and shall cease to be liable to NPK.
The Eagle Nest Property
Effective April 21, 2009, the Company signed a Letter of Intent with Sparrowtech Resources, Inc, ("Optionor") for a right to earn 49%
interest in the mineral claims situated in, La Paz, Arizona, USA collectively generally known and described as the 'Eagle Nest Mining
Property' ("Eagle Nest"). The initial option period will be for a maximum of one year from the effective date. The Optionor granted
to the Company the right and option to acquire a 49% interest in the Eagle Nest property by making the following payments to the
Optionor plus the cost of expenditures for mining work ("Expenditures") and issuing shares of its capital as follows:
1. Deposit due on signing of LOI and $10,000
paid
Due and payable to the Optionor by $35,000
May 31, 2009
Work program commitment expenditures
to be incurred on exploration:
Within three months-Before July 21, $60,000
2009
Within nine months-Before January $90,000
21, 2010
Total within one year- Before April $150,000
21, 2010
2. The Company will issue two (2) million restricted common shares of the Company's common stock to the Optionor by May 15, 2009 (not
yet issued)
3. On subsequent anniversary dates, the Company will pay $15,000 to the Optionor:
April 21, 2010 $15,000
April 21, 2011 $15,000
April 21, 2012 $15,000
Any expenditure incurred in excess for such period shall be credited towards the expenditures required for the succeeding period or
periods. The initial option may be terminated by the Company at their sole discretion any time after the exploration payments for the
initial minimum of nine months of assessment work and taxes are paid. If the Company elects to terminate the Initial Option, the
Company will not have acquired any interest in the Property. During the initial option period, the Optionor will be the operator
manager of the exploration programs and will be entitled to a 15% administration fee on exploration expenditures. All costs related
to keeping the property in good standing including property taxes and costs to maintain the concessions in good standing will be
considered allowed exploration expenditures.
Latest PR
Uranium Hunter Enters into Joint Venture on the Eagle Nest Mining Property
On Tuesday May 5, 2009, 2:18 pm EDT
Buzz up! Print TORONTO--(BUSINESS WIRE)--Uranium Hunter Corporation (OTCBB: URHN - News) announced today that it has entered
into a Joint Venture Agreement to acquire 49% interest of the Eagle Nest Mining Property Claims (“Eagle Nest”) located in La Paz
County, Arizona from Sparrowtech Resources, Inc.
Mr. Reno Calabrigo, President stated “This joint venture agreement represents a diversification to include the precious metal
industry and will provide the Company with increased growth opportunity within the current economy.”
The Eagle Nest Mining Property
Eagle Nest includes a previously producing Au-Cu-Ag-Fe (Gold, Copper, Silver and Iron) mine located 10 miles off Highway 95 in La Paz
County, Arizona. Easy access to the mine site and a good water supply will facilitate ease of construction for a potential processing
plant as well as expansion of the mine site.
Mineralization previously documented on Eagle Nest is very fine-grained to visible flaky gold, with oxidized copper ores and
staining, in a linear, lenticular ore body with a steeply dipping fault zone cutting metamorphic Mesozoic, red, hematitic shale.
Lenticular ore body formed from oxidation and enrichment was also found in the fault zone.
Previous workings include a 400 feet (121.92 meter) deep shaft and about 170 feet of drifts on the 100 level with some near-surface
stopes. The previous mining operation on this property recorded historic productions of 1,050 tons of ore averaging about 1.07 ounces
per ton gold, 1.8% copper and 2.1 ounces per ton silver.
Uranium Hunter will be updating its corporate website www.uraniumhuntercorp.com and release further details on the property including
assay and concentration testing results in the near future.
URHn DD and CHart
Company History
Subsequent to the fiscal year ended September 30, 2006, and in October 2006, we were granted the sole exclusive right and option to
acquire up to a 100% undivided right, title and interest in and to the Gambaro Resources Property located in Njombe and Songea
districts in the Republic of Tanzania. The Gambaro Resources Property, which is held under the terms of a Prospecting License issued
by the government of Tanzania, is believed to cover sediments of the Karoo sequence which share common features with rocks of the
Colorado Plateau in the western United States that have been prolific producers of uranium. Such project has been abandoned by us.
See "The Gambaro Property" below.
On February 14, 2007, pursuant to a Certificate of Amendment to our Articles of Incorporation filed with the State of Nevada, we
changed the name of the corporation from "Brownsville Company" to "Uranium Hunter Corporation".
On June 26, 2007, we were granted the sole and exclusive right and option to acquire up to a 75% undivided right, title and interest
in and to the Nkoko and Kagadi Uranium Properties which contain approximately 820 square kilometers located in Kiballe District,
Uganda (the "NPK Property").
Properties
The NPK Property
On June 26, 2007, we entered into an Option Agreement (the "NPK Agreement") with NPK Resources Ltd. ("NPK"), whereby NPK granted us
the sole and exclusive right and option to acquire up to a 75% undivided right, title and interest in and to the Nkoko and Kagadi
Uranium Properties which contain approximately 820 square kilometers located in Kiballe District, Uganda (the "NPK Property").
Under the terms of the NPK Agreement, NPK has granted us the sole and exclusive option to acquire up to a 75% undivided interest in
and to the NPK Property by making a cash payment to NPK of $25,000 US within five days of signing the NPK Agreement. We paid $15,000
during the quarter ended June 30, 2007 and paid the balance of $10,000 in July 2007. We shall also be responsible for making all
necessary property payments and taxes to keep the NPK Property in good standing. We shall maintain its 75% interest in the NPK
Property after we pay the $25,000 as described above by completing the following cumulative exploration expenditures on the NPK
Property totaling $150,000 US over a 36 month period:
(i) $50,000 in cumulative exploration expenditure within the first 12 months after signing the NPK Agreement; (ii) $100,00 in
cumulative exploration expenditures within 24 months of signing of the NPK Agreement; and (iii) $150,000 in cumulative exploration
expenditures within 36 months of signing of the NPK Agreement. If 36 months after the date of the NPK Agreement, we have not
completed exploration expenses of $150,000, we may still maintain its 75% interest in the NPK Property if we issue in favor of NPK
payments totaling up to $150,000 in shares of common stock of the Company or cash of up to $150,000 US at our sole option less the
cumulative exploration expenditures already paid and/or met on the NPK Property. The value of the shares shall be determined as the
average share price of the shares over the 30 business days of trading prior to the 36 month period as described herein provided,
however, that the shares shall not be valued at less then $1.00 per share.
Once we have vested and maintained our 75% interest in the project (i.e. by spending $150,000 on the project within three years), the
parties shall enter into a joint venture agreement and shall share proportionally in all exploration costs and payments subject to
standard dilution terms.
In addition, once we have earned its 75% interest in the NPK Property, for a one year period from date of earn in, NPK shall be
entitled to convert its 25% ownership of the NPK Property into common stock of the Company at the fair market value for NPK's 25%
ownership of the NPK Property. The fair market value of the NPK Property shall be determined by the parties and if they cannot agree,
shall be determined by three experts. Should NPK convert its 25% ownership into shares of common stock of the Company, then we shall
own 100% of the NPK Property. The value of the shares shall be determined as the average share price of the shares over the 30
business days of trading prior to the election period, provided, however, that the shares shall not be valued at less than $1.00 per
share.
We may terminate the NPK Agreement at any time by giving written notice to NPK of the termination of the NPK Agreement. If we fail to
make any payment (optional, discretionary or otherwise) or fail to do anything on or before the last day provided for such payment or
performance under the NPK Agreement, NPK may terminate the NPK Agreement but only if: (i) NPK has first given us written notice of
the default containing particulars of the payment which we have not made or the act which we have not performed; and (ii) we have
not, within 30 days following delivery of such notice, cured such default by appropriate payment or performance. Should we fail to
comply with the foregoing, NPK may thereafter terminate the NPK Agreement by notice to the Company. Upon the termination of the NPK
Agreement, we shall forfeit any and all interest in the NPK Property and shall cease to be liable to NPK.
The Eagle Nest Property
Effective April 21, 2009, the Company signed a Letter of Intent with Sparrowtech Resources, Inc, ("Optionor") for a right to earn 49%
interest in the mineral claims situated in, La Paz, Arizona, USA collectively generally known and described as the 'Eagle Nest Mining
Property' ("Eagle Nest"). The initial option period will be for a maximum of one year from the effective date. The Optionor granted
to the Company the right and option to acquire a 49% interest in the Eagle Nest property by making the following payments to the
Optionor plus the cost of expenditures for mining work ("Expenditures") and issuing shares of its capital as follows:
1. Deposit due on signing of LOI and $10,000
paid
Due and payable to the Optionor by $35,000
May 31, 2009
Work program commitment expenditures
to be incurred on exploration:
Within three months-Before July 21, $60,000
2009
Within nine months-Before January $90,000
21, 2010
Total within one year- Before April $150,000
21, 2010
2. The Company will issue two (2) million restricted common shares of the Company's common stock to the Optionor by May 15, 2009 (not
yet issued)
3. On subsequent anniversary dates, the Company will pay $15,000 to the Optionor:
April 21, 2010 $15,000
April 21, 2011 $15,000
April 21, 2012 $15,000
Any expenditure incurred in excess for such period shall be credited towards the expenditures required for the succeeding period or
periods. The initial option may be terminated by the Company at their sole discretion any time after the exploration payments for the
initial minimum of nine months of assessment work and taxes are paid. If the Company elects to terminate the Initial Option, the
Company will not have acquired any interest in the Property. During the initial option period, the Optionor will be the operator
manager of the exploration programs and will be entitled to a 15% administration fee on exploration expenditures. All costs related
to keeping the property in good standing including property taxes and costs to maintain the concessions in good standing will be
considered allowed exploration expenditures.
Latest PR
Uranium Hunter Enters into Joint Venture on the Eagle Nest Mining Property
On Tuesday May 5, 2009, 2:18 pm EDT
Buzz up! Print TORONTO--(BUSINESS WIRE)--Uranium Hunter Corporation (OTCBB: URHN - News) announced today that it has entered
into a Joint Venture Agreement to acquire 49% interest of the Eagle Nest Mining Property Claims (“Eagle Nest”) located in La Paz
County, Arizona from Sparrowtech Resources, Inc.
Mr. Reno Calabrigo, President stated “This joint venture agreement represents a diversification to include the precious metal
industry and will provide the Company with increased growth opportunity within the current economy.”
The Eagle Nest Mining Property
Eagle Nest includes a previously producing Au-Cu-Ag-Fe (Gold, Copper, Silver and Iron) mine located 10 miles off Highway 95 in La Paz
County, Arizona. Easy access to the mine site and a good water supply will facilitate ease of construction for a potential processing
plant as well as expansion of the mine site.
Mineralization previously documented on Eagle Nest is very fine-grained to visible flaky gold, with oxidized copper ores and
staining, in a linear, lenticular ore body with a steeply dipping fault zone cutting metamorphic Mesozoic, red, hematitic shale.
Lenticular ore body formed from oxidation and enrichment was also found in the fault zone.
Previous workings include a 400 feet (121.92 meter) deep shaft and about 170 feet of drifts on the 100 level with some near-surface
stopes. The previous mining operation on this property recorded historic productions of 1,050 tons of ore averaging about 1.07 ounces
per ton gold, 1.8% copper and 2.1 ounces per ton silver.
Uranium Hunter will be updating its corporate website www.uraniumhuntercorp.com and release further details on the property including
assay and concentration testing results in the near future.
Some info on our JV partner Sparrowtech.
Welcome to Sparrowtech Resources, Inc.
Corporate Mission
Sparrowtech Resources, Inc. is an exploration and resource development company focused on acquiring environmentally conscious mining operations, primarily in North America. The Company's leadership team plans to identify unique opportunities to extract gold and other precious metals from previously producing mines and/or establish new discoveries in recognized gold districts. The Company's strategy follows socially responsible production by supporting improved working conditions and modernization techniques that leave little to no carbon footprint.
Recent Developments
Sparrowtech Releases Eagle Nest Property Details
TORONTO, ONTARIO — April 6, 2009 – Sparrowtech Resources Inc (OTC: SPMC.PK) is pleased to announce details on the Eagle Nest Mining Property (“Eagle Nest”) located in La Paz County, Arizona. The Company recently entered into an agreement to acquire 100% ownership of Eagle Nest from D.A.R Mining. The acquisition is expected to close in May 2009 providing management is satisfied that this agreement is in the best interest of its shareholders and sufficient financing has been secured.
President Cornelia Volino stated, "Sparrowtech's corporate mission is to establish itself as a leader of environmentally conscious mining operations. We feel the acquisition of Eagle Nest is a remarkable opportunity and huge leap forward for the Company.” She further stated, “Eagle Nest is located in an area with many historically prolific mines and has an excellent opportunity to potentially produce millions of tons of head ore. We look forward to presenting the results from independent assay and concentration tests on Eagle Nest shortly.”
The Eagle Nest Mining Property
Mineralization previously documented on Eagle Nest is very fine-grained to visible flaky gold, with oxidized copper ores and staining, in a linear, lenticular ore body with a steeply dipping fault zone cutting metamorphic Mesozoic, red, hematitic shale. Lenticular ore body formed from oxidation and enrichment was also found in the fault zone.
Previous workings include a 400 feet (121.92 meter) deep shaft and about 170 feet of drifts on the 100 level with some near-surface stopes. The previous mining operation on this property recorded historic productions of 1,050 tons of ore averaging about 1.07 ounces per ton gold, 1.8% copper and 2.1 ounces per ton silver. Eagle Nest claims include a previously producing Au-Cu-Ag-Fe (Gold, Copper, Silver and Iron) mine.
History of the Bouse Mining District
The Bouse Mining District, where Eagle Nest is located, is a mid-tertiary system of epithermal mineralization, which was introduced into a stacked sequence of lithotectonic units that are located on the northern side of the Plomosa Detachment Fault. Complex epithermal gold, barite and fluorite mineralization is superimposed on earlier copper-specularite mineralization. Gold occurs in laterally extensive breccias and in steeply dipping amethystine-quartz veins. These deposits are similar to the proven and mined Copperstone and Mesquite deposits.
This District involves an important type of Arizona gold deposit, called a "detachment fault" deposit. Detachment fault deposits were first recognized as a separate form of gold deposit in the 1980's. The best example of an Arizona detachment gold deposit is Copperstone, which is about 20 miles from Bouse. It was the biggest gold discovery in Arizona in at least 50 years. Cyprus Gold profitably mined the 500,000 oz open pit resource during the 1980's. The Bouse Mining District is an historic gold producer.
Here's what the industry experts are saying about the prospects and prices of mining for gold:
…..“A continued global economic tsunami and the increasingly urgent scramble for an investment lifeline will combine to power gold prices ominously higher and into uncharted territory later this year. This is the consensus of opinion among the CEO’s of a dozen emerging to mid-tier gold mining companies who were recently interviewed by BNW Business Newswire.
…..“Gold will be trading in the $1,100 to $1,500 range by year’s end, they (the CEO's) all agreed.” - Commodity Online, March 21, 2009
...Investment in gold mining companies provides leveraged exposure to underlying gold prices, with miners profiting from stronger revenue and falling costs, according to ETF Securities Ltd.
...The ETFS Russell Global Gold Fund (AUMCO), which tracks the world’s biggest gold miners, has recorded 75% growth since October 31, 2008. This compares to a 15% fall in the MSCI World Index over the same period. High political and financial uncertainty continues to drive investors to safe havens like gold.
Sounds to me like URHN is heading in the right direction with this JV with Sparrowtech. Uranium + Gold!!!
Company investment highlights
• Bullish Gold Sector – In times of economic turmoil, investors increase their position in precious commodities like gold. Gold is expected to stay above $1,000 per ounce through year's end.
• Responsible Mining – The Company plans to engage in socially and environmentally responsible methods throughout the entire production and mining process in all its projects.
• Experienced Leadership - URHN is assembling an astute team of advisors and technical experts.
• Rapid Growth – The Company is currently reviewing additional potential acquisitions in precious metal and uranium projects to further enhance and
diversify its portfolio.
Morning people. Here's some info Eagle Nest property LOI.
Effective April 21, 2009, the Company signed a Letter of Intent with Sparrowtech Resources, Inc, ("Optionor") for a right to earn 49% interest in the mineral claims situated in, La Paz, Arizona, USA collectively generally known and described as the 'Eagle Nest Mining Property' ("Eagle Nest"). The initial option period will be for a maximum of one year from the effective date. The Optionor granted to the Company the right and option to acquire a 49% interest in the Eagle Nest property by making the following payments to the Optionor plus the cost of expenditures for mining work ("Expenditures") and issuing shares of its capital as follows:
1. Deposit due on signing of LOI and $10,000
paid
Due and payable to the Optionor by $35,000
May 31, 2009
Work program commitment expenditures
to be incurred on exploration:
Within three months-Before July 21, $60,000
2009
Within nine months-Before January $90,000
21, 2010
Total within one year- Before April $150,000
21, 2010
2. The Company will issue two (2) million restricted common shares of the Company's common stock to the Optionor by May 15, 2009 (not yet issued)
3. On subsequent anniversary dates, the Company will pay $15,000 to the Optionor:
April 21, 2010 $15,000
April 21, 2011 $15,000
April 21, 2012 $15,000
Any expenditure incurred in excess for such period shall be credited towards the expenditures required for the succeeding period or periods. The initial option may be terminated by the Company at their sole discretion any time after the exploration payments for the initial minimum of nine months of assessment work and taxes are paid. If the Company elects to terminate the Initial Option, the Company will not have acquired any interest in the Property. During the initial option period, the Optionor will be the operator manager of the exploration programs and will be entitled to a 15% administration fee on exploration expenditures. All costs related to keeping the property in good standing including property taxes and costs to maintain the concessions in good standing will be considered allowed exploration expenditures.
OK, time to do some drinking....I mean digging and research this company. Later guys.
It sure helps LOL.
The Eagle Nest Property
Effective April 21, 2009, the Company signed a Letter of Intent with Sparrowtech Resources, Inc, ("Optionor") for a right to earn 49% interest in the mineral claims situated in, La Paz, Arizona, USA collectively generally known and described as the 'Eagle Nest Mining Property' ("Eagle Nest"). The initial option period will be for a maximum of one year from the effective date. The Optionor granted to the Company the right and option to acquire a 49% interest in the Eagle Nest property by making the following payments to the Optionor plus the cost of expenditures for mining work ("Expenditures") and issuing shares of its capital as follows:
1. Deposit due on signing of LOI and $10,000
paid
Due and payable to the Optionor by $35,000
May 31, 2009
Work program commitment expenditures
to be incurred on exploration:
Within three months-Before July 21, $60,000
2009
Within nine months-Before January $90,000
21, 2010
Total within one year- Before April $150,000
21, 2010
2. The Company will issue two (2) million restricted common shares of the Company's common stock to the Optionor by May 15, 2009 (not yet issued)
3. On subsequent anniversary dates, the Company will pay $15,000 to the Optionor:
April 21, 2010 $15,000
April 21, 2011 $15,000
April 21, 2012 $15,000
Any expenditure incurred in excess for such period shall be credited towards the expenditures required for the succeeding period or periods. The initial option may be terminated by the Company at their sole discretion any time after the exploration payments for the initial minimum of nine months of assessment work and taxes are paid. If the Company elects to terminate the Initial Option, the Company will not have acquired any interest in the Property. During the initial option period, the Optionor will be the operator manager of the exploration programs and will be entitled to a 15% administration fee on exploration expenditures. All costs related to keeping the property in good standing including property taxes and costs to maintain the concessions in good standing will be considered allowed exploration expenditures.
Agreed. Nuclear waste storage is the issue to overcome these days.
Some history on the company itself.
Subsequent to the fiscal year ended September 30, 2006, and in October 2006, we were granted the sole exclusive right and option to acquire up to a 100% undivided right, title and interest in and to the Gambaro Resources Property located in Njombe and Songea districts in the Republic of Tanzania. The Gambaro Resources Property, which is held under the terms of a Prospecting License issued by the government of Tanzania, is believed to cover sediments of the Karoo sequence which share common features with rocks of the Colorado Plateau in the western United States that have been prolific producers of uranium. Such project has been abandoned by us. See "The Gambaro Property" below.
On February 14, 2007, pursuant to a Certificate of Amendment to our Articles of Incorporation filed with the State of Nevada, we changed the name of the corporation from "Brownsville Company" to "Uranium Hunter Corporation".
On June 26, 2007, we were granted the sole and exclusive right and option to acquire up to a 75% undivided right, title and interest in and to the Nkoko and Kagadi Uranium Properties which contain approximately 820 square kilometers located in Kiballe District, Uganda (the "NPK Property").