~~ Uranium Haven ~~

[NYBob]

Since the development of the first atomic bomb -
in the 1940’s by the US government, uranium
has become a critical, peaceful energy source.
Indeed, concerns over shortage of oil and gas -
with resulting high prices in these fossil fuels,
along with environmental issues regarding greenhouse
gas emissions, has fuelled a new interest in nuclear
energy as the source of power to meet current -
and future global demand for electricity.

Over 40,000 tonnes was produced in 2004,
the two largest producers being Canada (29%)
and Australia (22%).
Cameco, a Canadian company and the world’s current -
largest uranium producer, produced over 8,000 tonnes -

Update Overview of major development / exploration companies
active in the US Market cap. in US$ million
Energy Metals EMC TSX.V 1,382
Uranium Resources URRE Nasdaq 520
American Uranium AUUM OTCBB 415
Ur-Energy URE TSX.V 358
Strathmore Minerals STM TSX.V 322
Uranerz URZ AMEX 192 Uranium Energy URME OTCBB 168
Nuclear reactors are complicated and take time to build.
The big question is whether the new crop projects will be
more successful than previous ones, which ran grossly
over budget and behind schedule.

For example,
TXU’s 2,300 MW Comanche Peak complex took
two decades to build and the final bill was $ 11 billion against the original budget of less than $ 1 billion.
The current budget estimates for new reactors are $ 3 billion to $ 4 billion each.
To kick-start the new generation of nuclear development,
the US government has put together a package of incentives worth more than $ 8 billion for the first companies to
build reactors.
The activity is being channelled through a consortium
called NuStart Energy Development, whose members
include Constellation, Duke Energy, Entergy, Exelon,
and Tennessee Valley Authority.
Entergy has received approval to use its Grand Gulf
nuclear site in Mississippi for new development,
while TVA is applying for permission to expand its
reactor fleet at the Belle-front site in Alabama.
Although NuStart appears to be making heading, there
is still no progress on what to do with
the country’s waste.
These have been plans to bring waste underground at
Yucca Mountain in Nevada since 1957, but controversy
between the federal government and local politicians
makes that the target of opening the facility in 2017
is unlikely to be met.
Energy Metals (EMC) is the premier uranium
developer/explorer focused on the United States.
The Company has acquired one of the largest portfolios
of previously explored uranium properties located
in the heart of the historic mining districts,
encompassing over 250,000 acres in the western US,
including over 105,000 acres in Wyoming.
These properties include the uranium mining districts
of the south central Texas Uranium Belt, the Great Divide, Powder River and Shirley Basins in Wyoming,
the Bullfrog Green River and Lisbon Valley districts in Utah, southeast Oregon and the Arizona Strip.
Projected annual production from EMC’s asset base in
the United States is 8 to 10 million pounds by 2012
from 6 production centres.
The significant US resource base within a portfolio of
advanced uranium projects include:
Attributable Measured resources of 10.7 million pounds U3O8, attributable Indicated resources of 49.7 million pounds U3O8, attributable Inferred resources of 7.3 million pounds U3O8, attributable historical resources of 196.1 million pounds U3O8.

In addition, there exists a significant potential to improve the confidence of existing resources and to expand resources through additional drilling.

EMC has also acquired three uranium companies in
the United States in 2006-07, including
Standard Uranium, Quincy Energy and
High Plains Uranium.

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