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Spot uranium ticking lower
Leonard Zehr, today at 10:42 AM EDT
Prices for uranium in the spot market have dropped yet again because of excess supply and anemic demand, drawing ever closer to quotes on long-term contracts.
Ux Consulting Co. has cut the spot price by $10 (U.S.) a pound to $110, while the spot price at the other industry bible, TradeTech, fell $3 to $120.
Ux contends that a correction is taking place in the spot market, with “motivated sellers aggressively liquidating supplies.”
The upcoming U.S. Department of Energy auction of up to 200 million tonnes of uranium hexafluoride, containing about 520,000 pounds of uranium oxide, in eight lots may be a catalyst for the spot weakness. “Sellers may be trying to place material prior to offers due in mid-September,” Ux suggests.
Looking forward, Ux Consulting sees “fewer sellers willing to sell at lower prices, but believes prices could retreat in the near-term and rebound once determined sellers have sold out and-or spot demand picks up.”
The long-term market remains active with 11 buyers looking for a total of 27 million pounds of uranium, with prices unchanged at $95 a pound.
Update on RSDS:
What RSDS has going for it!!!
Curent Holdings:
Pay Day Claims: 54 toal claims.
Rage Claims: 100 total. Permit approval expected August 13th, 2007.
Cache Claims: 50 total claims. Permit has been approved.
Rockie Claims: 50 total Claims. Permit approval expected August 13th, 2007.
2 more permits on the way is a great thing as it shows Berman is wroking hard to get things going for this company.
68 additional claims from the acquisition of American Uranium Mining Company, AUMN.
Joint Venture with Trophy Resources, TRSI.PK.
We have two independent geologists completing NI 43-101 reports for at the very least, the 254 claims in house at the time of the PR for the NI 43-101. These reports are due out in Q4 of 2007
-faz
Is this kind of like the pseudo RSDS board? I love it. Lots of good things to come in the next few months for RSDS.
Russell Industries: Permit received -
HOUSTON, TX, Jul 25, 2007 (M2 PRESSWIRE via COMTEX) --
Russell Industries, Inc. -
(RSDS.PK) announces that it has received approval
for its Plan of Operations for uranium exploration
on its Cache Claims in San Juan County Utah.
The permit was approved by the Division of Oil, Gas
and Mining for the State of Utah and allows for 33 holes,
one wet and 32 dry to be drilled.
The Company has applied for two other permits
and expects receive the second by August 13.
The Company is reviewing proposals for the purchase
of drilling equipment.
"We are pleased with Bureau of Land Management's approval
of our permit.
We are looking forward to being able to validate the proven
and probable reserves of this claim area," said
Rick Berman, President and CEO of Russell Industries.
About Russell Industries, Inc.
Russell Industries,
a Nevada Corporation, was incorporated in 1997.
Russell Industries is a holding company -
that will acquire assets in the energy, mining, healthcare
and financial industries.
The Company owns a majority ownership interest -
in 322 Uranium Mining Claims -
as of July 16, 2007 and recently acquired -
American Uranium Mining Company (AUMN.PK).
Safe Harbor
This press release contains forward-looking statements --
Ask your broker-dealer whether it has any
Rule 15c2-11 information before you invest.
Source: Russell Industries
M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com.
(C)1994-2007 M2 COMMUNICATIONS LTD
-0-
http://tinyurl.com/2ff998
http://investorshub.advfn.com/boards/board.asp?board_id=7773
Russell Industries: -RUSSELL INDUSTRIES: CORRECTION FOR APPROVAL DATE
7/17/2007
HOUSTON, TX, Jul 17, 2007 (M2 PRESSWIRE via COMTEX News Network) --
Russell Industries, Inc.
(RSDS.PK) announces that it has received preliminary approval
for its Plan of Operations for uranium exploration on its
Rage Claims within the Monticello Ranger District
of San Juan County Utah.
The letter dated July 12, 2007 stated that
"Our internal resource specialists are reviewing the project
and there is a Request for Comments out to the public
for their input and any concerns they may have.
Currently, there are no significant issues identified and
if no other issues are raided, we should have the Plan
of Operations approved by August 13, 2007.
If issues are raised, however, more time will be needed
to analyze these before the Plan can be approved."
"We are pleased with the update and are optimistic that
any issues from the Request for Comments would not
be significant, therefore they should be resolved quickly
and so should approval of our Plan of Operations," said
Rick Berman, President and CEO of Russell Industries.
About Russell Industries, Inc.
Russell Industries, a Nevada Corporation, was incorporated
in 1997.
Russell Industries is a holding company that will acquire
assets in the energy, mining, healthcare and
financial industries.
The Company owns a majority ownership interest in -
322 Uranium Mining Claims -
as of July 16, 2007
and recently acquired
American Uranium Mining Company (AUMN.PK).
Safe Harbor
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations, are generally identifiable by the use of words such as "believe," "expect," "intend," "anticipate," "estimate," "project," or similar expressions. These forward-looking statements relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, potential future performance, perceived opportunities in the market, and statements regarding the Company's mission and vision. The Company's actual results, performance, and achievements may differ materially from the results, performance, and achievements expressed or implied in such forward-looking statements. The Pink Sheets does not require companies whose securities are quoted upon its systems to meet any listing requirements. With the exception of a few foreign issuers, the companies quoted in the Pink Sheets tend to be closely held, extremely small and/or thinly traded. Most do not meet the minimum listing requirements for trading on a national securities exchange, such as the New York Stock Exchange or the NASDAQ Stock Market. Many of these companies do not file periodic reports or audited financial statements with the SEC, making it very difficult for investors to find reliable, unbiased information about those companies. For all of these reasons, companies quoted in the Pink Sheets can be among the most risky investments. That's why you should take extra care to any company quoted exclusively in the Pink Sheets. Be aware that some broker-dealers are required by SEC Rule 15c2-11 to have some information about the issuer. Ask your broker-dealer whether it has any Rule 15c2-11 information before you invest.
CONTACT:
Investor Relations
Fax: +1 281 298 9055
WWW:
http://www.irrsds@aol.com
M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com.
Russell Industries: Russell Industries (RSDS.PK): exploration permit update -
Rage Uranium and Vanadium old mine update -
http://www.pinksheets.com/quote/news.jsp?url=fis_story.asp%3Ftextpath%3DCOMTEX%5Cmt%5C2007%5C07%5C16....
uranium and vanadium is in for the big demands -
http://investorshub.advfn.com/boards/board.asp?board_id=7773
Uranium prices continued to zoom upwards in early June,
climbing to $136 price mid month which is more than double
the $65.50 of mid-December.
“While the market is likely to turn quiet over the seasonally
slow summer period, we expect prices to rise to the
$150 U.S. mark by late 2007,” said Patricia Mohr,
vice-president and commodities expert with Scotia Economics.
“Longer term, China's planned nuclear power expansion —
aimed at diversifying energy sources and reducing CO2
emissions — will boost uranium demand,” she added.
http://www.u3o8.biz/s/Home.asp
THE world must build nuclear power plants at the unprecedented
rate of four a month if nuclear energy is to play a serious
part in fighting global warming, a leading think-tank says.
http://www.news.com.au/heraldsun/story/0,21985,21985197-663,00.html
FYI.
http://www.oilandgasinsight.com/file/45605/colorado-and-utah-oil-shale-deposits-to-rival-opec-oil-re....
http://www.investorshub.com/boards/board.asp?board_id=7773
http://app.quotemedia.com/quotetools/popups/story.jsp
God Bless
bobby ~on uranium board~ how are you today.
Pretty nice news on UMNG
The area between Buffalo and Toronto is sometimes called the "Golden Horseshoe"
here's a link
http://en.wikipedia.org/wiki/Golden_Horseshoe
according to Wiki
"The phrase, "Golden Horseshoe," was first used by Westinghouse President, Herbert H. Rogge, in a speech to the Hamilton Chamber of Commerce, on January 12, 1954."
Golden Horseshoe - sounds interesting -
please, tell me more about the location? -
RSDS I hope find another -
Mi Vida Mine -
http://www.investorshub.com/boards/read_msg.asp?message_id=20656128
Press Release Source: Russell Industries, Inc.
Russell Industries Acquires American Uranium Mining Company
Tuesday June 19, 9:21 am ET
HOUSTON--(BUSINESS WIRE)--Russell Industries, Inc. (Pink Sheets:RSDS - News) announces that it has acquired American Uranium Mining Company, formerly Ithaca Industries, Inc (Pink Sheets:ITHI - News). The Company owns 68 Uranium Mining Claims located in the Briger Jack section, San Juan County, Utah. "This acquisition is synergistic with Russell Industries' focus on the Uranium market and will increase our holding company's assets to 322 Uranium mining claims which will now encompass 6,440 acres in San Juan County," said Rick Berman, who will be elected President and CEO. Ithaca, a publicly traded company, will continue to have its stock quoted on the pink sheet market. Russell Industries will announce the new symbol and date trading will begin in a future press release.
About Russell Industries, Inc.
Russell Industries, a Nevada Corporation, was incorporated in 1997. Russell Industries is a holding company that will acquire assets in the energy, mining, healthcare and financial industries. The Company owns a majority ownership interest in 322 Uranium Mining Claims as of June 19, 2007.
http://www.pinksheets.com/quote/news.jsp?symbol=RSDS
NYRobert: you have a huge heart
I like being around those type of bros
bri
Thanks bro 'Briboy' on '~~ Uranium Haven ~~'
bro well, its my pleasure, to have a stock buddy,
surprised was the wrong word used -
more blessed that you bro is here,
fyi. when I searched on -
Ex.
Utah uranium - I got this -
http://video.google.ca/videosearch?q=Utah+uranium
OT.
bro in my view the following maybe of interest to you? -
http://www.investorshub.com/boards/board.asp?board_id=3652
Imo. Tia.
http://www.888c.com/
God Bless
Why are you surprised I am here?
I just follow the good stuff, and lead when called upon.
briboy
To bro 'Briboy' on '~~ Uranium Haven ~~'
bro well, its my pleasure, to have a stock buddy,
I am still a little surprised that you are here,
FYI. when I searched on -
Ex.
Utah uranium - I got this -
http://video.google.ca/videosearch?q=Utah+uranium
OT.
bro in my view the following maybe of interest to you? -
http://www.investorshub.com/boards/board.asp?board_id=3652
Imo. Tia.
http://www.888c.com/
God Bless
NYBob: am glad I have a stock buddy
like you, and one that I will know for an Eternity, well beyond our stock playing days.
For Eternity
briboy
To 'Briboy' on '~~ Uranium Haven ~~' -
bro Briboy,
RE:
not selling until I profit -
and it is well over my average, then I will leave some shares long term.
I am not going to mess this one up for a small profit.
On the other hand, the negativers say this one is doomed,
oh, faith -
bro you are on the right road,
clever, smart and a good leader for other people -
your opinions are good faith and fair -
God Bless
http://www.investorshub.com/boards/read_msg.asp?message_id=20359537
ChicagoBob: not selling until I profit
and it is well over my average, then I will leave some shares long term. I am not going to mess this one up for a small profit. On the other hand, the negativers say this one is doomed,
oh, faith
briboy
To 'Briboy' on '~~ Uranium Haven ~~'
RSDS -
Average Volume: 87,679,600 (50-day)
29,129,800 (200-day)
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?symb=rsds&time=&freq=
bro Briboy thanks for the info,
btw. do you find any common sense in the selling of RSDS shares? -
I don't find any fair reason when the facts is -
RSDS - owns much more assest values today vs.
RSDS - owned for the last few years.
Imo. Tia.
God Bless
RSDS has move volume than all the others in IBOX
combined. With this much attention we should have a higher share price. This week perhaps we will see a gradual increase.
I am getting several PM's warning me that this stock has one more run left in it. If the company does well, and I believe it will, that statement should be clearly debunked.
Good luck RSDS
briboy
Russell Industries 504 Completed -
http://app.quotemedia.com/quotetools/popups/story.jsp
Russell Industries, Inc.
(RSDS) announces that it has completed its sale of securities
pursuant to Regulation D, Rule 504, of the United States
Securities and Exchange Commission.
“The Company has positioned itself to continue its
strategic plan for 2007 by acquiring -
an additional 50 Uranium mining claims -
quantifying and valuing its present claims -
and make application to mine -
part of its claims.
We are also contemplating the purchase
of certain drilling equipment -
if our cost analysis indicates -
this to be advantageous,”
said Rick Berman,
President and CEO.
About Russell Industries, Inc.
Russell Industries, a Nevada Corporation,
was incorporated in 1997.
Russell Industries -
is a holding company that will acquire assets
in the energy, mining, healthcare and
financial industries.
The Company owns a majority ownership interest
in 254 Uranium Mining Claims
in San Juan County,
Utah as of May 31, 2007.
Safe Harbor
Forward-Looking Statements: Except for historical information contained herein - - - -
and risk inherent to the company's research
and development operations.
Russell Industries, Inc.
Investor Relations
Rick Berman,
713-446-7231
Fax: 281-298-9055
irrsds@aol.com
Source: Business Wire (May 31, 2007 - 10:47 AM EDT)
News by QuoteMedia
www.quotemedia.com
http://app.quotemedia.com/quotetools/popups/story.jsp
Congratulations RSDS Longs -
Last: 0.0011 Change: +0.0002(+22.22%)
Volume: 155.64 m
RSDS RE: Estimated Market Cap: fiatz$2M or less -
of fiatzpeanutz as of 2007-06-05? Is how much today? -
(based on Outstanding Shares as of 2007-05-29)
its about the first 8' values of the old uranium
and vanadium mines? -
its a fraction and micro of the the real 888' -
of what can be mined? -
down 8888' and the micr cap. is nano -
of the real value? -
Imo. Tia.
http://www.888c.com/
God Bless -
2222 start good sign.
http://www.investorshub.com/boards/board.asp?board_id=7773
http://www.investorshub.com/boards/read_msg.asp?message_id=20148862
You are Mr. Uranium Bob!!
You have your finger on every pile of yellowcake in North America!!!
America's Uranium Solution is In-Situ Recovery Mining -
http://www.marketoracle.co.uk/Article1145.html
http://www.investorshub.com/boards/read_msg.asp?message_id=20141460
http://www.investorshub.com/boards/board.asp?board_id=7773
I'm ok with that....
I like RSDS!
RSDS - its no common sense to be at this low SPP -
let's hike up to were we been a year ago -
history often repeat itself -
RSDS bull to run wave one to start -
move on -
Average Price: 0.0011 (50-day) - 0.0519 (200-day)
Average Volume: 78,232,600 (50-day) - 25,619,300 (200-day)
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?symb=rsds&time=&freq=
http://www.siliconinvestor.com/subject.aspx?subjectid=57004
http://www.investorshub.com/boards/board.asp?board_id=7773
http://www.investorshub.com/boards/board.asp?board_id=8492
*ABVG* keep an eye on it...
Hey all, wanted to share ABVG to the board too..I think the stock could see 10-20 cents ++ By the end of summer, stock has been accumulated by some big money lately. Just look at the chart and u'll know wat I mean. Big PR campaign has started and I talked to their IR guy today..They say more news to come next week..Keep it on your radar IMO :)
FP Trading Desk
Two uranium auctions this week: How the process works
If you think those uranium sales that are often cited as the basis for recently skyrocketing prices are secretive processes, you’re right. Everyone wants to know what price people are willing to pay for the nuclear fuel.
While they are often referred to as auctions, these uranium sales are done via a single round of private sealed bids, according to Eric Webb, senior vice president of information services at Ux Consulting Co LLC.
Market monitors UxC and TradeTech provide commentary and develop spot price indicators based on the most competitive offer price out there and other deals, but they never reveal actual bids.
Unlike gold or oil, there is no formal exchange for uranium. However, the recently-established NYMEX futures market could set the stage for a showdown between traditional uranium players and a new crop of participants.
The next such auction – for 100,000 pounds of U3O8, the naturally occuring form of uranium – has its bids due on Wednesday, May 30 and comes from Mestena Uranium LLC. A previous auction of the same size from the Texas-based company drove spot uranium prices to a new record of US$113 a pound in early April. Prices now stand at US$125, according to UxC.
Another unidentified seller, likely a hedge fund, reportedly has two lots up for sale with bids due by June 1. The firs lot is said to be 200,000 pounds of U3O8, while the other is for 100 kilograms of an enriched version of uranium (UF6), which is equivalent to 260,000 pounds of U308.
These two offerings constitute the largest amount of spot U3O8 and equivalent into the market in many months, so it wouldn’t be surprising to see uranium spot price indicators move again sometime soon.
When a seller is prepared to go ahead, a letter with all the bidding specifications goes out to potential buyers with accounts that can hold physical uranium. These are primarily industry participants like utilities, suppliers, and those in the broader category of fuel cycle companies, as well as traders and brokers. Canada’s Uranium Participation Corp. holds their uranium through management company Denison Mines Inc. for example.
However, very few in the financial community have direct accounts and suppliers have generally not been interested in their business, Mr. Webb said.
While he doesn’t see any acceleration in the number of lots put of for sale, the way transactions have taken place has changed somewhat in the last couple of years. Tradionally, buyers make requests and sellers respond with offers to sell. These days, Mr. Webb said sellers are increasingly put their material up for bid – something that is relatively new.
Meanwhile, another interesting development raised by some uranium experts is that speculators may be driving up the spot price of uranium in order to boost the value of their investments in mining stocks.
http://communities.canada.com/nationalpost/blogs/tradingdesk/archive/2007/05/29/two-uranium-auctions...
Paladin faces another hurdle in developing its Malawi uranium project
Reports from Malawi suggest that Paladin's Kayalekera uranium project start-up date may not be achievable as the country's electricity supply company cannot afford the cost of constructing the power line to serve the mine.
Author: Frank Jomo
Posted: Monday , 28 May 2007
Blantyre -
Australian headquartered uranium miner Paladin Resources Inc. (TSX, ASX:PDN) might not be able to roll out its Kayelekera uranium project in Malawi's northern region district of Karonga in 2008 as planned because the mining site is far from being connected to the country's electric power system.
The local media reported over the weekend that Malawi's sole power supplier - Electricity Supply
Corporation of Malawi (Escom) - has written Paladin informing it that the corporation cannot solely source funds to connect the required power to the mine site. According to press reports, Escom wants the miner to foot the bill for extending electricity to Kayelekera.
The state-owned company says in order to provide electricity to the mining site, it will require a capital cost based on duty free materials of US$8.810m. However if there will be duty paid on the materials, the same would cost US$10.783m. The utility company would need to upgrade switchgear at Telegraph Hill and construct 80km of 66 KV steel tower supported power line from the country's northern region city of Mzuzu.
In addition, the company will also need to construct 34km of 66 KV wooden pole power line from Karonga town to the proposed mining site, install 12.5 MVA 66/11 KV substation and associated switchgear to Kayelekera. All these have not yet been started raising doubts whether the Kayelekera mining project will be commissioned in 2008 as planned.
Escom Chief Executive Officer Kandi Padambo told The Nation newspaper on Sunday that his company, which has been struggling financially over the years, cannot single-handedly finance the whole project.
"We cannot mobilize that kind of money at one go," Padambo told the paper. "Discussions on the best way forward are underway. We are discussing with Paladin to see how they can help us source money in the form of a loan. It will be a commercial agreement and we cannot have problems to repay the loan because what we will be getting every month will be enough to take
care of that"
The paper says Paladin is yet to respond to the letter Escom wrote on the cost-sharing venture. However Minister of Energy Chimunthu Banda told the paper that Escom is duty bound to connect the mining site although it was understandable that it was not in their plans.
the more info the better calls we make
no problem, glad to help man
it's on my watch list, jon btw thanx for posting the pr
but keep yours eyes on ABVG anyway
it looks promising, heres a chart
1.4 mill cap jon some people's cars cost more to fill up at the gas station
A hedge fund guy just bougt a few acres on Long Island for 133 mill no uranium there either lol
true but...
the difference being that ABVG already seems to have some buying pressure.
BTW what is the shares structure on RSDS?
Sure makes RSDS look good at .001 they have over 5000 acres and according to their last pr with "PROVEN" reserves.
Hey guys i have been wayching ABVG for a while and news came out... i will post it here so you can take a look at it
ABV GOLD INC.: ABV Gold signs acquisition agreement with Toiyabe resources, a Nevada based uranium project
Littleton, Colorado, May 23, 2007 (M2 PRESSWIRE via COMTEX) -- ABV Gold (Pinksheets: ABVG) announced today that it has officially signed an acquisition agreement and has acquired 100% of Toiyabe Resources LLC and its Uranium Mining Projects located on the mining claims in the Reese River and Birch Creek mining districts of Lander County Nevada.
"This is a major step in developing our company and becoming a major player in the base, precious and strategic metals" said Sylvain Amyot, President of ABV Gold Inc. "Several geologist have visited the Toiyabe Uranium property, which covers over 1,200 acres and further to the preliminary data gathered, they estimate the discovery potential between 12 million lbs to 20 million lbs of Uranium in recoverable reserves and if we account at today's market prices of over $130/ lb, we could be sitting on a property with well over $1 billion USD of Uranium to mine" further added Mr. Amyot.
The company expects to launch its new website and release a complete report on the Uranium property and other precious metals property in the following weeks as well as file its new disclosure statement with Pinksheets.
About ABV Gold ABV Gold Inc. is gold and precious metals mining company founded as an exploration company to locate, explore and mine world-class deposits. ABV Gold Inc. is publicly traded on the Over the Counter Pinksheets Market.
Contact: Sylvain Amyot, Interim President samyot@abvgold.com Alex Barta, Investor Relations 514-991-2272
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates", "believes", "could", "expects", "intends", "may", "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
CONTACT: Alex Barta, Investor Relations Tel: +1 514 991 2272
M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com.
LTD
LSPN..more Uranium news:
Lifespan Appoints Experienced Mining Director and Makes Two Additional Property Acquisitions
Lifespan, Inc. (OTCBB:LSPN), the Company is pleased to announce the appointment of Dr. Earl W. Abbott, Ph.D. (geology) to the Board of Directors. Dr. Abbott's primary responsibility within the Company is to oversee the acquisition, exploration and development of the Company's rapidly expanding portfolio of uranium properties.
Dr. Abbott is currently developing the exploration and development plan for the previous announced La Sal West uranium-vanadium mine in the prolific La Sal uranium district of Utah. Additionally, the Company is pleased to announce that pursuant to our exploration team's efforts, it has identified and entered into preliminary agreements to acquire two other previously producing uranium properties also located in the La Sal uranium-mining district.
Since receiving his Ph.D. degree in geology at Rice University where he studied the tectonics of the western U.S., Dr. Abbott has spent 34 years exploring for mineral deposits, 26 of them for gold in Nevada. His management of an exploration program in Nevada in 1981 resulted in the acquisition of three mineral ore bodies that were subsequently mined profitably.
Over his career, Dr. Abbott has consulted to the mining industry and has been an officer and director of several mining companies. He combines strong management skills with a creative vision that enables the Company to apply sound scientific principles in unique ways to the search for profitable mineral deposits.
Dr. Abbott is active in his profession, having served as an executive of numerous professional mining associations. As a result, he has an extensive network of high-level mining industry contacts. Through these associations it is anticipated that the Company will be able to add other similarly qualified individuals to its management team.
Dr. Abbott is a Certified Professional Geologist by the American Institute of Professional Geologists (AIPG) as well as the past President of the Nevada Chapter. He is also a member and past President of the Geological Society of Nevada (GSN), a member and past President of the Nevada Petroleum Society (NPS), a member and past President of the Denver Region Exploration Geologists Society (DREGS), a member of the Society of Economic Geologists (SEG), a member of the Society for Mining, Metallurgy, and Exploration (SME), a member of the Geological Society of America (GSA), a member of the Northwest Mining Association (NWMA), a member of the British Columbia & Yukon Chamber of Mines, and a member of the Prospectors and Developer Association of Canada (PDAC). He is also a Qualified Person under the rules of National Instrument 43-101.
The Company also wishes to confirm that it will be changing its name to "US Uranium Inc." to more accurately reflect the focus on acquiring and developing uranium properties in the continental US.
Source: Lifespan, Inc.
CRLJ had some Uranium News today:
Core Resources Enter Uranium Mining Business
VANCOUVER, BC -- (MARKET WIRE) -- 05/16/07 -- Core Resources (PINKSHEETS: CRLJ) announced today that it has reached a preliminary agreement to acquire the rights to mine Uranium in the Pontiac region in Quebec, Canada. The terms of the agreement are not available at this time pending customary due diligence on the property. It is projected by management that the transaction should be consummated in less that 30 days and initial testing can begin in June 2007. The management team has been actively seeking opportunities in this industry and has reached an agreement to acquire certain mineral rights for the mining of Uranium in the Quebec province of Canada. Additional properties are currently under consideration and industry experts are being consulted to determine the most attractive strategy to employ for maximum shareholder return.
Since 2003 the price of Uranium has increased approximately ten fold and government estimates indicate that Uranium demand will continue to be strong as independence from fossil fuels becomes government policy. The company's previous strategy of acquiring operating business in the alternative fuels sector is still active. Compelling opportunities in the Uranium markets, in the view of the Core Resources management team, provide the best opportunity to build a viable company for the CRLJ shareholders.
THE URANIUM INDUSTRY
The only significant commercial use for Uranium is to fuel nuclear power plants for the generation of electricity. Uranium is an element found in nature that is used for emission free energy source throughout the world. When an Uranium atom is split (fission) it releases 50 times more energy than the combustion of one carbon atom. Nuclear fission produces far more energy than burning a comparable volume of hydrocarbon fuel such as oil, natural gas or coal. Currently, the leading countries for the production of Uranium are Australia (28% of global supply), Kazakhastan (16%) and Canada (12%).
Price of Uranium
The price of uranium was approximately $10.75 per pound in early 2003. By early 2007 the price approached $100.00 per pound. Many commodities experts are projecting long term prices as high as $500 per pound.
Nuclear Power Plants
There are 440 nuclear power reactors operating worldwide providing about 16% of the world electricity. There are 82 new reactors that are under construction or planned for completion within the next 10 years. There are currently 104 operating US nuclear power plants that produce over 20 percent of US electricity.
Primary production
The uranium production industry is international in scope with a small number of companies operating in relatively few countries. In 2005 eight producers provided approximately 80% of the estimated world production of 108 million pounds U3O8. Leading companies include Cameco, Cogma, Energy Resources of Australia, WMC Resources Ltd, Kaz AtomProm, Priarggunsky Uranium Ltd, and Navoi Mining Mettallurgical Kombinant.
Cautionary Statement Regarding Forward-Looking Information:
Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "potential," "estimate," "plan," "expect," "project," "intend," "believe," "anticipate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements.
Investor Contact:
Patrick Rost
PMR and Associates, LLC
760-703-6753
PMRandCo@aol.com
Some reading from 1998 -
IUC mined a small amount of uranium-vanadium ore from
its re-opened Rim mine -
in the East Canyon (Dry Valley) area in San Juan County.
Approximately 7,000 st (6,350 mt) of ore averaging
0.08 percent U O and more than 2.0 percent V O was
3 8 2 5 mined between May and December 1998 and shipped
to IUC’s White Mesa mill for processing.
The Rim mine is currently on standby and will resume
operations when the vanadium market improves.
Several other independent mines shipped ore to
the White Mesa mill.
Approximately 1,000 st (900 mt) of stockpiled ore was shipped
from the Neighbor mine in the East Canyon area
and about 2,000 st (1,800 mt) of mined ore was shipped
from the Snake and Spring Creek mines in
the Cottonwood Canyon area, also in San Juan County.
In addition, NBS Mining Company produced about 300 st
(270 mt) of ore from their Cougar No. 1 mine
in the Yellowcat area of the Thompson district in Grand County.
Nearly all of the ore was from Morrison Formation-hosted
deposits, which have a high vanadium content.
IUC has four other permitted uranium mines in Utah
that are on standby.
The company may open several of these mines
when market conditions improve.
Hanson Exploration Company acquired six small
uranium-vanadium mines, mostly in the East Canyon area,
and plans to begin permitting these properties.
In addition, a number of other uranium-vanadium mines,
mostly operated by local miners, are ready to resume
production as the markets for uranium, and more
importantly, vanadium improve -
history often repeat itself -
dd........
http://geology.utah.gov/utahgeo/rockmineral/activity/min1998.pdf
Imo. Tia.
God Bless
http://www.investorshub.com/boards/board.asp?board_id=7773
RSDS Russell Inds Inc (OTHER OTC) -
This is a 100% fair RSDS Chart -
with all past events calculated into the
RSDS share price -
Its only nss666criminals911 illegaly -
anti-America very evilz bad people -
short sold RSDS to unfair low share price -
soon someone with deep pockets -
will buy it all UP -
Imo. Tia.
http://www.investorshub.com/boards/read_msg.asp?message_id=19431715
'nosleep'..very informative and I for one thank you for the post.
I couldn't help but notice the inclusion of WHO would be completing the NI 43-101 and when it will be completed.
I also noticed that the release contained the name of the actual CEO of the company. Is this type of disclosure common place for this company? The only reason I ask is that there is another company (globex/umining) , and this company has not announced to the public who the CEO is.
GLXI has yet to announce who will be doing the NI 43-101 report on their property...Is this normal? TIA
Howard,
I can certainly appreciate the company (which executive do you speak to if you call, the CEO? VP?) wanting to portray itself in the most positive light. I would have to laugh if any company didn't, and I'm sure you'd agree.
The most influence in fledgling companies lies in the executive leadership. Primarily, the CEO.
Could you direct me to the CEO so I might inquire further? I look at some of the best companies in the world, and solid leadership keeps them solid. Of course, as we learned the hard way with Enron, poor leadership, no matter how good a company might/could be, will doom it. In a sector where there are so many "would-like-to-bes" and so few "ares" among them, often the CEO can place a company in the "are" category faster if not instantly in the investment community's eyes.
I look forward to your insight on this matter, as it appears you have a firm grasp on GLXI in general, and therefore can offer some quality insight to the board.
IMO/FWIW
Huge resource increase for TVC
Tournigan Gold triples Kuriskova resource
2007-05-07 09:31 ET - News Release
Mr. James Walchuck reports
TOURNIGAN'S RESOURCE AT KURISKOVA (JAHODNA) ALMOST TRIPLES TO 50 MILLION POUNDS U308
ACA Howe International Ltd. has calculated a new resource estimate for Tournigan Gold Corp.'s Kuriskova (formerly called Jahodna) uranium deposit in eastern Slovakia. The new inferred resource estimate, as defined by CIM standards, indicates that the Kuriskova resource has grown to more than 50 million pounds of U3O8, nearly three times the last resource estimate of 18 million pounds. The new resource has a high-grade component of 3.6 million tonnes grading 0.49 per cent U3O8, or 38.9 million pounds of U3O8, and a lower grade component of 5.4 million tonnes grading 0.1 per cent U3O8, or 11.5 million pounds of U3O8.
"The Kuriskova deposit is beginning to take shape as one of the world's largest high-grade uranium deposits," said James Walchuck, president and chief executive officer of Tournigan. "The deposit still shows great growth potential. We are planning a near-surface infill drill program as well as a deep drill program this year to further improve our understanding of Kuriskova, as well as try to expand the current Kuriskova resource."
KURISKOVA URANIUM DEPOSIT
INFERRED RESOURCE ESTIMATE
(ACA Howe, May, 2007)
Description Tonnes Grade Pounds of U3O8
(millions) (U3O8%)
Main zone 3.592 0.492 38,987,000
Low-grade zone 5.341 0.097 11,408,000
Fault614 0.049 0.125 136,000
----- ----- ----------
Total 8.982 0.255 50,531,000
===== ===== ==========
Cut-off grade (0.035 per cent U3O8)
Kuriskova has a high-grade main zone of stratabound uranium mineralization supplemented by a lower-grade stratabound zone of mineralization, both hosted in a sequence of andesitic volcanics. Tournigan has only explored a small area of the exploration licence it acquired at Kuriskova in June, 2005. An airborne geophysics survey followed by ground geophysics and prospecting will start shortly on all of Tournigan's Slovakian uranium exploration licences.
ACA Howe produced the current resource estimate for the Kuriskova uranium which includes all drilling completed during 2006. David Pelham, consulting geologist, and Galen White, senior geologist, ACA Howe, prepared the current resource estimate. Both are independent qualified persons as defined by NI 43-101. The estimate includes results from 10 of 13 diamond drill holes drilled by Tournigan at the Kuriskova deposit in 2006, three diamond holes drilled by Tournigan in late 2005 and 13 relevant holes of the 52 historical diamond drill holes drilled by previous government operators, as discussed in Stockwatch March 6, 2006.
ACA Howe used MicroMine software to produce a 3-D wire frame and inverse distance model for the Kuriskova deposit, using the same cut-off grade of 0.035 per cent U3O8 as was used to calculate the higher-grade portion of the previous resource estimate. Geochemical analyses of Tournigan drill core confirmed radiometric drill logging results.
The Kuriskova uranium deposit is part of a belt of largely stratabound uranium-molybdenum deposits hosted in a sequence of Permian-age meta-volcanic/sedimentary rocks in eastern Slovakia. The Kuriskova deposit is blind and is covered by thick soils and extensive forest cover. The deposit has a northwest-southeast strike, and a variably steep-moderate southwest dip (60 degrees in the upper part, 47 degrees in the lower part). The overall dimensions of the main zone of the deposit established to date by drilling, start about 120 metres below the surface and extend to a depth of approximately 650 metres below surface. The deposit has been defined approximately 650 metres along strike by 530 metres down-dip by 2.5 metres thick.
A new preliminary assessment at Kuriskova is expected by the end of March, 2008. The current preliminary assessment (ACA Howe, April, 2006), available under Tournigan's profile at SEDAR or on Tournigan's website, was based on the previous inferred resource estimate of 1.2 million tonnes of 0.66 per cent U3O8, or 18 million pounds of U3O8 using a 0.035-per-cent U3O8 cut-off and and is no longer valid. The 2007 drill program at Kuriskova is scheduled to begin in the next few weeks.
An NI 43-101 technical report supporting the new resource estimate will be completed by ACA Howe and will be posted under Tournigan's profile at SEDAR within 45 days.
Notes on methodology
Jahodna drill core is transported to the Kremnica site where geological logging, preliminary interpretation and sample interval selection take place. Selected sample intervals are sawn in half and one-half of the split-core is transported to an ALS Chemex sample preparation lab in Pitea, Sweden, where it is crushed, pulverized and undergoes geochemical analysis. Core intervals which appear to be high grade are transported from Sweden to ALS Chemex lab in North Vancouver, Canada, for geochemical analysis. ALS Chemex's North Vancouver laboratory has ISO 9001:2000 registration. It has also received ISO 17025 accreditation from the Standards Council of Canada under CAN-P-1579 "Guidelines for Accreditation of Mineral Analysis Testing Laboratories."
QA\QC (quality assurance and quality control)
Quality assurance and quality control programs take place in both Slovakia and the ALS Chemex lab. The independent engineering company AMEC is currently auditing these processes.
Mr. Pelham and Ms. White of ACA Howe are the qualified persons for the Kuriskova resource estimate and have approved the technical information herein.
Joseph Ringwald, PEng, Tournigan's vice-president technical services and a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical disclosure contained herein.
We seek Safe Harbor.
Uranium U308 futures bullion chart -
http://www.futuresource.com/charts/charts.jsp?s=XUM07&o=&a=V%3A5&z=610x300&d=medium&....
That is their purpose. To inform you of the value of their company. Its up to the investor to decide.
lololololol
They will be happy to tell you what you need to know to consider the purchase of their stock.
The company has to has to have a CEO...Don't they?
I seem to remember a Press release issued by GLXI that stated an intent to file a form 10, or something like that.
One of the first steps in filing this form requires a list of officers, included on this list is the CEO. This press release was a few weeks ago and that means one of two things IMO. Either the company has no intentions of actually filing this form or they are keeping the information(as to who the CEO is) secret and out of the public eye.
If the company isn't proud enough of the CEO to release his/her name, then I see this as a RED FLAG. My gosh, if releasing the CEO'S name would cause embarassment to the company, what are we dealing with here?
This issue needs to be looked at IMO. Basic information like this is essential, especially when dealing with non-reporting companies.Good Lord, the reputation,background and past performance of the management team in place is all we have to go on.....and now you're telling me that the company won't release the NAME of the CEO??? This can't be right IMO. Could someone clear this up for the board? Anyone? TIA
FWIW-IMO
junezb,
I don't think the appropriate question is "how" to get in touch with the CEO...
I think it's "WHO IS THE CEO?"
IMO/FWIW
If a prospective investor were to call GLXI would they be able to speak directly to the CEO? How accessible is the CEO ?
Who is the CEO? TIA
If a company calling itself ProActive Computer Services Inc. became CortDev and CortDev became Botaniex and so on...all well before 6/30/2006, how in the world did ProActive Computer Services Inc. play a part in a Planned sale(insider) of GLXI shares in June of 2006? Anyone? And these shares(284,602) were not sold on the open market..YET. TIA
Uranium is a very heavy (dense) metal which can be used as an abundant source of concentrated energy. It occurs in most rocks in concentrations of 2 to 4 parts per million and is as common in the Earth's crust as tin, tungsten and molybdenum. It occurs in seawater, and could be recovered from the oceans if prices rose significantly. It was discovered in 1789 by Martin Klaproth, a German chemist, in the mineral called pitchblende. It was named after the planet Uranus, which had been discovered eight years earlier. Uranium was apparently formed in super novae about 6.6 billion years ago. While it is not common in the solar system, today its slow radioactive decay provides the main source of heat inside the earth, causing convection and continental drift. Its melting point is 1132°C. The chemical symbol for uranium is U. On a scale according to the increasing mass of their nuclei, uranium is the heaviest of all the naturally-occurring elements (Hydrogen is the lightest). Uranium is 18.7 times as dense as water. Like other elements, uranium occurs in slightly differing forms known as 'isotopes'. These isotopes ( 16 in the case of uranium ) differ from each other in the number of particles ( neutrons ) in the nucleus. Natural uranium as found in the Earth's crust is a mixture largely of two isotopes: uranium-238 ( U-238 ), accounting for 99.3% and U-235 about 0.7%. The nucleus of the U-235 atom comprises 92 protons and 143 neutrons (92 + 143 = 235). When the nucleus of a U-235 atom captures a moving neutron it splits in two ( fissions ) and releases some energy in the form of heat, also two or three additional neutrons are thrown off. If enough of these expelled neutrons cause the nuclei of other U-235 atoms to split, releasing further neutrons, a fission Œchain reaction¹ can be achieved. When this happens over and over again, many millions of times, a very large amount of heat is produced from a relatively small amount of uranium. Uranium ....... http://en.wikipedia.org/wiki/Uranium [ World Uranium Supply and Demand The only significant commercial use for uranium is as fuel for nuclear power plants for the generation of electricity. During 2004, 440 nuclear power plants were operating in the world and consumed an estimated 173 million pounds of uranium. Worldwide production of uranium in 2004 (the most recent year for which statistics are available) was only about 102 million pounds. In the United States, there are 104 nuclear power plants that produce about 21% of the electricity used. Based on reports by The Ux Consulting Company ("Ux") and the World Nuclear Association ("WNA"), since the early 1990s, worldwide uranium production has satisfied only 51% of worldwide demand, and this ratio has also been true in the Western world. Ux reports that the gap has been filled by secondary supplies, such as inventories held by governments, utilities and others in the fuel cycle, including the highly enriched uranium (HEU) inventories which are a result of the agreement between the US and Russia to blend down nuclear warheads. Ux reports that secondary sources combined with uranium production from existing uranium mines will not be sufficient to meet the world's requirements. New production will be needed. Ux projects that the industry will need uranium prices to remain at or near current prices to stimulate the capital investment needed to support such new production. An extremely valuable by-product of Uranium processing is Vanadium, which is used to strengthen steel and sells for $800 ton. One of the world’s most concentrated energy sources, a single pound of yellowcake, or U308, is equivalent to 31 barrels of oil or 10 tons of coal. A typical pellet of uranium weighs 7 grams (0.24 ounces), and can generate as much energy as 3.5 barrels of oil, 17,000 cubic feet of natural gas or 1,780 pounds of coal. This makes it a clean and efficient source of natural energy. One of the primary conventional resources of uranium is yellowcake. This is milled uranium oxide, known to chemists as U308. When uranium ore is sourced from the mine, it contains relatively little of the radioactive element — often no more than ( 1% ). The yellowcake is put through several milling processes and eventually turned into fuel rods, which are utilized in nuclear power plants to produce electricity without any greenhouse gases. World demand for uranium will be 185 million pounds in 2013, estimates the Nuclear Energy Institute in Washington. But supply likely will be significantly lower, at about 130 million pounds. RadioActivity Video .......... http://www.reeltime.com/TitleDetails.aspx?mediaID=995 Uranium IH Boards ........... #board-7239 ...... #board-2530 ...... #board-7773 Canadian Uranium Producers ............... PWURF ~ http://www.powertechuranium.com ......... EFRFF ~ http://www.energyfuels.com URCFF ~ http://www.uracanresources.com ............. FOSYF ~ http://www.forsysmetals.com
IRNG ~ #Board-5720 URXE ~ #Board-7153 http://www.internationalranger.com http://www.urexenergy.com CVVUF ~ #Board-8495 UEC ~ #Board-5231 http://www.canalaska.com http://www.uraniumenergy.com RUSL ~ #Board-6568 CAUIE ~ #Board-8580 http://www.russind.com http://www.canamuranium.com UMNG ~ #Board-5634 http://www.umining.com Usec Inc ~ USU ~ http://www.usec.com UCCO ~ #Board-7961 URST ~#Board-7900 http://www.uraniumcorecomp.com http://www.uraniumstar.com URRE ~ #Board-4519 URZ ~#Board-8562 http://www.uraniumresources.com http://finance.yahoo.com/q?s=URZ CLBO ~#Board-4133 LSPN ~ #Board-5911 http://www.crlj.biz CCJ ~#Board-2690 ABVG ~ #Board-9252 http://www.cameco.com USEG ~ #board-6030 DNN ~ #board-9118 http://www.usnrg.com http://www.denisonmines.com ES ~ #board-11247 SRSR ~ #board-8822 http://energysolutions.com http://www.sarissaresources.com Market Vector ~ Nuclear Energy ~ ( NLR ) ~ #board-10098************************************************
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