Extract and RIO to joint venture to develop EXT's giant deposit


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The announcement of the EXT – RIO tie up to develop what will become one of the world’s largest uranium mines comes as a great relief to me. I admit to being worried that EXT would be forced to either sell the deposit/project or take on an overseas partner and that we would lose them from our Australian ASX.

As can be seen from the chart above this would have left a gaping hole in Australia’s uranium index and my portfolio. I am very fond of EXT and having been in it for a very long time (8 years) it has given me almost impossibly large profits….. The way forward now looks a lot clearer and I look forward to a massive revenue stream in the years to come.

I wonder which ASX listed Uranium play will be next to get “married”… My guess is Aura ASX: AEE represents such amazingly good value it will either do a JV or get swallowed…. If you have read through AEE’s announcements and the surrounding commentary you’d have to think that AEE’s current JORC and probable 1billion pounds of uranium would be mightily attractive…

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