I'm holding KAL too, looks good ;)
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I'm holding KAL too, looks good ;)
Looks like we've hit the peak for most U stocks across the board.
Time for a bit of a re-trace/profit-taking before the climbs continue AFTER the deal with China is signed next week?
Just my opinion.
Moonshine
Nice ann for KAL. Looking good! Once the China deal signed we're rich ;)
Someone dumped a large parcel of KAL on to the market soon after open....took the chance to top up before it went into preopen.
Virtually all of the U juniors took a hit today: great day to buy.
What do you think the ann will involve? I mistakenly read the one from earlier this month haha.
Not sure what its about. Might have something to do with their oil and gas interests in the US or of course Uranium. Just hope its not a placement!
Had a raising not so long back....would be suprised if its another one. Reckon its either O & G in the States, or that they are going to spin off their uranium assets.
But either of the latter would be good, right?
http://www.miningnews.net
A-Z Uranium Sector Snapshot (Part Seven - K/M/N)
Tuesday, March 28, 2006
Michael Vaughan
AS URANIUM passes $US40 per pound, MiningNews.net asks 15 questions of the companies comprising Australia's growing uranium sector. The survey will be published daily for the rest of March.
KALGOORLIE-BOULDER RESOURCES
Share price (at March 17): 16c
Market cap (at March 17): $5.26 million
1. Where is your mainstay project located?
The Lyndon prospect is the Company's mainstay project which is located 180 kilometres northeast of Carnarvon. The Company has an extensive uranium portfolio of 26 exploration licences or applications covering a total of 5,040 square kilometres in Western Australia and South Australia:
- Gascoyne Region – ten exploration licences covering an area of 1,184sq km.
- Kintyre East Uranium Project – joint venture with Redport Ltd (ASX: RPT) to explore five exploration licences covering an area of 868sq km.
- South Australia – 11 exploration licences covering an area of 2,988sq km.
2. When was it discovered?
The Lyndon prospect was discovered in 1972 by Pacminex Pty Ltd through radiometric and ground prospecting.
3. What is the company's stake in the project?
The Lyndon Project (ELA 09/1180) is the subject of an option agreement which, following the payment of exercise consideration, will give the company a 90% interest in the project. The Kintyre East Uranium Project is the subject of a joint venture with Redport Ltd and the Company has a 100% interest in all other projects within its uranium portfolio.
4. What work programs have been completed at the project? How much drilling has been carried out?
Extensive ground and airborne radiometric surveys have been undertaken. This was followed up by bulk sampling at shallow depth and reverse circulation drilling, with resource and reserve studies completed in 1973. Drilling has adequately tested only one of at least five medium to high intensity radiometric targets identified within the property.
5. What style/type of uranium mineralisation is at the project?
Shallow, calcrete hosted uranium mineralisation within the Lyndon prospect is derived from surrounding granitoid rocks which have a high background uranium content. The mineral is leached from the granitoids during weathering and deposited in favourable locations usually controlled by prevailing drainage patterns at the time.
6. What are the dimensions of the mineralisation? What are the levels/tenor/grade of mineralisation?
The mineralisation of the Lyndon prospect consists of 113 hectares of radiometric anomalous ground containing the five medium to high intensity radiometric targets referred to in question four above. The drilling in one of the radiometric anomalies indicated a high of 1.81kg/t uranium.
7. Is the project essentially a 'greenfields' proposition, or does it have a JORC-compliant resource? If it is not 'greenfields' and if it doesn't have a JORC resource, how much work needs to be done in order to establish one?
The company's prospects, including the Lyndon prospect, range from advanced exploration stage where drilling by previous holders has resulted in the delineation of defined zones of calcrete hosted mineralisation through less advanced prospects where initial reconnaissance exploration will focus on target definition. Refer to question ten below for information concerning the future development of the Company's uranium portfolio including the Lyndon prospect.
8. What is the potential size of the deposit?
Refer to question seven above.
9. How much cash has the company budgeted to spend on the ground at the project during 2006?
Refer to question ten below.
10. What is the company's current cash position?
On 21 March 2006, the company announced that the Directors are actively pursuing a strategy of divesting the company's uranium assets into a new entity with the consideration received being distributed to the shareholders of Kalgoorlie-Boulder Resources Ltd. Consequently, the current cash p
http://www.miningnews.net
A-Z Uranium Sector Snapshot (Part Eight – O/P/R)
Wednesday, March 29, 2006
Michael Vaughan
AS URANIUM passes $US40 per pound, MiningNews.net asks 15 questions of the companies comprising Australia's growing uranium sector. The survey will be published daily for the rest of March.
OMEGACORP
Share price (at March 17): 37c
Market cap (at March 17): $38.54 million
1. Where is your mainstay project located?
The company's most advanced project is the Kariba uranium project is 200 kilometres south of Lusaka in southern Zambia. OmegaCorp also has the Mavuzi project in Mozambique and the Mkuju River uranium project in Tamzania.
2. When was it discovered?
Uranium was first discovered at Kariba in 1956 and intensive work programs began in the mid 1970s.
3. What is the company's stake in the project?
100%
4. What work programs have been completed at the project? How much drilling has been carried out?
Significant work programs were completed historically at Kariba: 20,000m of diamond/percussion drilling, bulk sampling, metallurgical testwork, airborne and ground geophysics, geological mapping, resource calculations.
5. What style/type of uranium mineralisation is at the project?
Sandstone hosted.
6. What are the dimensions of the mineralisation? What are the levels/tenor/grade of mineralisation?
The two key prospects are briefly summarised below:
Mutanga – mineralisation covers approximately 1000m x 1000m in area.
Dibwe – Approximately 600m in strike length and 300m down dip.
Kariba Project - 12.45Mt for 10.92Mlbs of uranium oxide.
7. Is the project essentially a 'greenfields' proposition, or does it have a JORC-compliant resource? If it is not 'greenfields' and if it doesn't have a JORC resource, how much work needs to be done in order to establish one?
The project has a JORC compliant resource of 1Mlb uranium oxide and is considered to be brownfields development.
8. What is the potential size of the deposit?
We believe there is considerable potential from three other areas that were extensively drilled by AGIP and a considerable amount of blue sky.
9. How much cash has the company budgeted to spend on the ground at the project during 2006?
Spending a minimum of $US1 million at Kariba plus another $US3-500,000 on the other two projects.
10. What is the company's current cash position?
As of December 31 2005, there was $4.7 million.
11. Which contractors/consultants has the company been/intend using?
The consultants to date are:
Geoquest Limited – Geological consultants in Zambia
Continental Resource Management Pty Ltd – Resource consultants in Perth
Brendon Hammond – Principal Consultant – Ex Rossing uranium mine in Namibia, former MD of Argyle Diamond Mine
Geobase Australia Pty Ltd – GIS/Database management
SGS South Africa/Australia – sample analysis and metallurgical testwork
ALS Geochemex - South Africa/Australia – sample analysis
12. How is the project located in terms of infrastructure?
Very well – located within 30km of a bitumen road, good bush tracks to the key prospect areas. Ready power and water supply proximal to the project area.
13. How far away is a potential development? What is the potential size and timeline?
The project could be in production by September 2007. The aim is to produce 1-1.5m pounds of uranium oxide annually.
14. What are the potential capital/operating costs of the development? When will you likely know?
We should have indicative values at the end of the June 2006 quarter.
15. What are the main hurdles to reaching a development decision?
We do not see any at present
PACIFIC MAGNESIUM CORP
Share price (at March 17): 25.5c
Market cap (at March 17): $23.41 million
1. Where is your mainstay project located?
Olary, South Australia
2. When was it discovered?
Old workings date unknown, recent rock chip to 2.2% uranium oxide from Domenic prospect.
3. What is the company's stake in the project?
Earning up to 75%.
4. What work programs