Just posting an email. More info for anybody who didn't recieve it. Please take a look at the attached Press Release which Cash Minerals has issued this morning to announce the acquisition of an exciting portfolio of uranium properties in Mongolia.
The properties include three which are well advanced, with historical Soviet mineral resources (Not NI43-101 compliant, yet) which have, in-part, been verified by drilling completed by East Asia Minerals.
As you are aware, Cash Minerals has been pretty inactive for almost two years, due in part to a declined uranium price and the world financial situation. Since my appointment in January I have been reviewing current assets, primarily the Wernecke uranium properties, a few scattered gold/base metal properties, including the Mike Lake project, and the Division Mountain Coal Project, all in the Yukon and have been becoming familiar with various outstanding corporate issues.
At the same time, I have reviewed many potential new opportunities upon which to rebuild the company, with a continued focus on uranium projects. I believe that this acquisition is the first step towards reaching that goal.
I was in Mongolia last October-November to review the data on these properties and was impressed by the changing political and economic reforms there. With the signing in July last year of an Investment Agreement between the Government of Mongolia and Rio Tinto and Ivanhoe Mines to develop the massive Oyu Tolgoi Copper-Gold Deposit there is an air of optimism and new mining investment capital is flowing into the country once again.
We believe there is a future in the uranium industry for junior explorers like Cash and continue to review other potential acquisition targets.
I look forward to working with our shareholders to revitalize the Company.
Unfortunately, I continue to apologize for the website being woefully out of date; we are working on that, soon it will disappear for a couple of weeks entirely, then a new, more informative site will emerge. Thanks for your patience.
I am heading to Mongolia in a couple of days to join with Sarah Palmer, Cash’s Exploration Manager, who has been in Mongolia for a few weeks working with our new Mongolian associates, to plan the details for the first exploration program, expected to commence in July. Should you have any questions regarding this acquisition please send me an email and I will either reply by email or call you upon my return after May 19th.
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