Posts on this website are general "tips" and nothing more than that and should never be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy.
What a lovely virtuoso performance by this Aussie achiever. I’ve been in it for years. It was talked down by the Sky Business gurus and written of by many… now it looks like it is going to be one of the world’s biggest uranium miners…
I’ve kept the faith and only have taken profits once and that was to buy BMN. Why? Have a look at where they are and what they have got…. another EXT in the making… TOE looks like it will be charging soon… Aussies RULE.
Greg Hall, Managing Director of Toro Energy talks to Proactiveinvestors
by Proactiveinvestors
Toro energy Interview 11th August 2009
Greg Hall, Managing Director of Toro Energy, talks about the number of nuclear reactors under construction increasing from 20 to 50 in five years, taking two Australian uranium projects into production by 2013, a JORC resource of 25 million pounds uranium, a resource of 7 million pounds uranium, and projects in Namibia.
Cameco Profit Beats Estimates on Higher Uranium Sales
By Christopher Donville
Aug. 12 (Bloomberg) — Cameco Corp., the world’s second- largest uranium miner, reported second-quarter profit that beat analysts’ estimates because of rising sales volumes of the raw material in nuclear fuel.
Net income increased 65 percent to C$247 million ($225 million), or 63 cents a share, from C$150 million, or 42 cents, a year earlier, Saskatoon, Saskatchewan-based Cameco said today in a statement. Excluding a C$108 million gain on financial instruments and other one-time items, earnings were 36 cents a share, topping the 25-cent average estimate of 10 analysts surveyed by Bloomberg.
Chief Executive Officer Jerry Grandey is seeking to expand uranium output from mines in Canada, the U.S. and Kazakhstan amid projections of increasing demand for nuclear energy. Second-quarter uranium sales rose 35 percent to 8.5 million pounds, more than the 6 million expected by Orest Wowkodaw, an analyst at Canaccord Adams Inc. in Toronto.
“The market will like these results, especially the increased uranium sales guidance,” Wowkodaw said today in a telephone interview.
Cameco rose 48 cents, or 1.6 percent, to C$29.86 at 10:07 a.m. in Toronto Stock Exchange trading. The shares gained 40 percent this year through yesterday.
Sales of uranium oxide this year will be 34 to 36 million pounds, more than a previous forecast of 32 to 34 million, because of new supply commitments, Cameco said.
Worth a look IMO an outstanding company greatly undervalued by market cap…
Uraniumletter International’s Peer Group of the world’s top-20 Uranium Companies Makes BMN look very cheap…
http://www.australian-shares.com/mining/BMN
Highlights
Significant expansion of the Etango Uranium Project mineral resource estimate including a 21% increase in Measured & Indicated Resources to 107.7Mlbs U3O8 at an average grade of 208ppm U3O8, and a 40% increase in Inferred Resources to 52.4Mlbs U3O8 at an average grade of 197ppm U3O8. For the first time, the resource estimate includes Measured category resources of 2.0Mlbs U3O8. Approximately two thirds of the total resource estimate is located within 200 metres of surface. All mineral resource estimates are reported at a cut-off grade of 100ppm U3O8.
The Etango Project preliminary feasibility study (“PFS”) has been further advanced focusing upon an open pit mining and heap leach processing operation for the production of 5-7Mlbs per year of U3O8 over an approximate 15 year mine life. The PFS has to date been based on the February 2009 mineral resource estimate.
New favourable results from larger scale heap leach column testwork and flotation beneficiation testwork were received following the end of the quarter. These results have the potential to materially influence the ultimate choice of preferred processing route and the scale of the plant concerned. Consequently, the PFS timetable has been extended to fully investigate the impact of these developments. The PFS will now also incorporate the latest July 2009 mineral resource estimate.
Resource definition drilling at Oshiveli and Onkelo to the north of Anomaly A confirmed the extension of multiple broad zones of mineralisation generally close to or directly from surface. Mineralisation remains open between the resource areas and at depth. Further infill and extensional drilling is presently underway.
Recent geophysical and structural geological work has identified a number of key exploration targets to be tested on the Etango exclusive prospecting licence.
Successful completion of an equity placement for gross proceeds of A$30 million to Australian and foreign institutional and mining investors, as well as a Share Purchase Plan offered to eligible shareholders for proceeds of A$7.5 million.
Cash reserves as at 30 June 2009 of A$37.6 million.
Market Cap $236m
Lots more to come re exploration…… BMN is the green
I wonder what PDN are thinking….
Tubas – DYL and TOE
Attachment qualifies PDN for the what were they thinking award….BMN is the green shaded areas.
Uraniumletter International’s Peer Group of the world’s top-20 Uranium Companies
SOUTH PERTH, Western Australia, Aug. 4 /CNW/ – Australian-based uranium mine development and exploration company, Extract Resources Limited (ASX/TSX: EXT) (“Extract or ‘the Company) today released the preliminary capital and operating cost estimates report which confirm the Rossing South project’s potential to be one of the world’s largest uranium mines.
The report states that preliminary cost estimates on the granite hosted, uranium mineralisation at Rossing South in Namibia indicates that the project can support a viable open pit mining operation developed to feed a 15M tpa agitated tank sulphuric acid leach processing plant. Annual production has been estimated at 14.8M lbs U(3)O(8) with capital costs estimated at US$704M and operating costs of US$23.60 per lb U(3)O(8).
Extract Resources Managing Director, Mr. Peter McIntyre, said “the preliminary cost estimates report indicates a conventional open pit mining operation with an agitated tank leach process plant is expected to support a profitable and sustainable mining operation for +20 years.”
Read article: http://www.istockanalyst.com/article/viewiStockNews/articleid/3390933
More high grade hits at Wyoming.
Targeting 8-12 million pounds at Ross and 5million pounds at Barber.
PEN have drilled 11 holes with 100% uranium strike rate
Nice bounce could be the start of an upwards trend?
http://australianuranium.com.au/australian-uranium-graph.html
The ALTEX-Australia Uranium Index is Australia’s leading Uranium share price index. The index tracks the performance of all companies listed on the Australian Stock Exchange that have a primary focus on the exploration and production of Uranium
Slight divergence by Global uraniums
http://australianuranium.com.au/global-uranium-graph.html
The ALTEX-Global is the world’s leading Uranium share price index. The index tracks the performance of the largest 25 publically listed companies by market capitalisation that have a primary focus on the exploration and production of Uranium
