Steve Dii
JF-Expert Member
- Jun 25, 2007
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November 10, 2009
Uranex Is Now Focussing On Getting Early Production From Its Manyoni Uranium Project In Tanzania
By Charles Wyatt
It is a funny old world in uranium exploration at the moment. The spot price of U3O8 wont attack the US$50 per pound, mark despite the recent problems at Olympic Dam, and yet the development of new nuclear power stations around the world hardly faltered when the worlds finances hit the buffers towards the end of last year. Terry Ward, chairman of ASX-listed Uranex, is on a quick trip to London and his views are always worth listening to as he was in uranium last time around. In fact he was general manager of Mary Kathleen Uranium, a subsidiary of RTZ, and thus involved in talks with the Chinese in the early 1970s. And the relationship with China has continued, as Uranex signed a letter of intent with the Department of Overseas Uranium Resources Investment, part of China National Nuclear Corporation, back in 2006. This binds Uranex into a close working relationship with the Chinese for the exploration, development exploitation of potential uranium projects worldwide.
Terry confirms that this arrangement is still in place even though Uranex has made little mention of it lately. The reason for this is that the Chinese see no reason to hasten matters as Uranex will not be in production until 2012 at the earliest, and what they are really interested in is tying up sources of production. Leading the field in this respect is the Manyoni project in central Tanzania on which a pre-feasibility study should be completed before Christmas
Source: Minesite.com
Uranex Is Now Focussing On Getting Early Production From Its Manyoni Uranium Project In Tanzania
By Charles Wyatt
It is a funny old world in uranium exploration at the moment. The spot price of U3O8 wont attack the US$50 per pound, mark despite the recent problems at Olympic Dam, and yet the development of new nuclear power stations around the world hardly faltered when the worlds finances hit the buffers towards the end of last year. Terry Ward, chairman of ASX-listed Uranex, is on a quick trip to London and his views are always worth listening to as he was in uranium last time around. In fact he was general manager of Mary Kathleen Uranium, a subsidiary of RTZ, and thus involved in talks with the Chinese in the early 1970s. And the relationship with China has continued, as Uranex signed a letter of intent with the Department of Overseas Uranium Resources Investment, part of China National Nuclear Corporation, back in 2006. This binds Uranex into a close working relationship with the Chinese for the exploration, development exploitation of potential uranium projects worldwide.
Terry confirms that this arrangement is still in place even though Uranex has made little mention of it lately. The reason for this is that the Chinese see no reason to hasten matters as Uranex will not be in production until 2012 at the earliest, and what they are really interested in is tying up sources of production. Leading the field in this respect is the Manyoni project in central Tanzania on which a pre-feasibility study should be completed before Christmas
Source: Minesite.com