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[verwijderd] 5 oktober 2005 17:33

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MarketWatch
Market Pulse: Cameco in talks to acquire Zircatec Precision Industries
Tuesday October 4, 3:15 pm ET
By Carla Mozee

SAN FRANCISCO (MarketWatch) -- Uranium producer Cameco Corp. said Tuesday it's in negotiations to acquire Zircatec Precision Industries Inc., which manufactures nuclear fuel bundles. Cameco said its review of Zircatec will determine if it meets Cameco's investment criteria. Zircatec has one plant that produces metal components for fuel bundles and other reactor components, and a second plant that handles nuclear materials and completes the fuel bundle fabrication process. Both facilities are in Ontario. Cameco expects to make a decision on whether or not to proceed with a transaction by the end of the year.

biz.yahoo.com/cbsmb/051004/60e43faa79...

[verwijderd] 7 oktober 2005 11:51

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Rio sets up new uranium vehicle

Diversified miner Rio Tinto has announced the formation of Rio Tinto Uranium, which is intended as a marketing vehicle for the two uranium mines in which the group has an interest.

The move comes as demand for uranium is rising strongly and amidst a flurry of exploration and development activity from majors and juniors alike. Demand is expected to continue to rise, with many countries accepting that nuclear offers one of the few cost-competitive alternatives to greenhouse-gas-generating thermal plants.

There are 130 new reactors expected over the next 15 years, representing a nearly 30% increase in reactor numbers globally.

China has announced plans to build 27 new nuclear reactors by 2020 and India has reported plans to build 17 new reactors by 2012.

This rate of expansion compares with the US, which built over 100 nuclear power plants in the 15 years between 1965 and 1980.

Rio Tinto has a 68% interest in Energy Resources of Australia, which is in Australia's Northern Territory, and a 69% interest in Rössing, in Namibia.

Both firms have now approved the appointment of Rio Tinto Uranium to undertake marketing and sales services, as well as sales contract administration, on their behalf.

Formed effective October 3, the new firm is based in London and will operate through a network of representatives in key markets.

“This will give a single point of contact for customers and greater efficiencies for ERA and Rössing,” the miner said in a statement.

In the miner's second-quarter operation review, released in July, it indicated that its share of uranium production came to some 1 352 t, down from the first-quarter figure of 1 593 t but only marginally down year-on-year by five tons.

Half-year figures, however, indicate that the miner has improved from 2 788 to 2 945.

Equity research company Resource Capital Research (RCR), which focuses on small resource companies, has indicated that uranium is to become a major mineral force globally.

A quarterly research report, covering 20 global uranium- exploration and-development companies, has identified over 120 junior and mid-cap explorers and development companies.

These 120 firms have a total market capitalisation of more than $4,2-billion.

“The uranium industry is undergoing a major resurgence worldwide, with uranium exploration and property acquisition at a high level. The share prices of companies, many of them newly-formed and with uranium assets, have moved sharply upwards,” says author of the report John Wilson.

The report indicates advanced exploration and development-stage companies have had the most consistent share-price performance within the uranium sector in the last 12 months.

For example, Australian firm Paladin, which was up 760%; South Africa's Aflease Gold and Uranium, which was up 204%; Energy Metals Corporation, a move of 368%; while Western Prospector Group moved up 757%; Laramide Resources up 735% and Summit Resources increased by 1 160%.

Recently, the uranium market has tripled, putting prices at around $30/lb.

This has been attributed to the decline in existing uranium-fuel inventories, plus an increasing demand from new international markets to satisfy nuclear power demand.

Demand for uranium is forecast to outstrip supply for at least the next ten years, driven by end-users in the power-generation market urgently trying to secure future supply, notes the RCR report.

In addition, supply is constrained by a lack of new mine production and declining inventories.

World demand for uranium is about 77 000 t/y, while mine production is currently around 48 000 t/y. The balance - 29 000 t/y - is sourced from inventory, primarily the down-blending of weapons-grade uranium. Mine output is expected to increase to 54 000 t/y.

In September this year, Mining Weekly indicated that uranium mining in Australia was entering a no-go zone, and that Southern Africa was the area of choice for new mines.

Resources consulting group RSG Global last month lamented that the Australian government had decided to halt new uranium mines for “the sake of political expediency”.

There are a reported 440 nuclear power reactors in operation around the world.

Now, the surging uranium price has provided exploration opportunities for Southern African countries desperate for foreign investment.

Southern Africa is close to three new mines, as mines in Namibia, Malawi and South Africa enter development stage.

This is at a time when uranium is in demand due to a projected shortfall and projects in Western Australia generally being on hold.

The mines in Namibia and Malawi fall under the auspices of Australian miner Paladin Resources, while the local mine - Dominium - is an Aflease Gold and Uranium project.

Uranium is currently a popular mineral, as it is currently the only option that will provide the volumes required to appease growing demand for energy, without putting additional carbon dioxide into the atmosphere.

This has led to the uranium price trebling and the shares of uranium companies - such as Paladin - soaring.

The share price of Paladin, a mid-cap company, has surged by 2 000% in a two-year period.

Locally, Aflease continues to focus on developing its Dominion Reefs uranium property near Klerksdorp, which is said to be 6% of the world's resources.

This property hosts one of the world's largest undeveloped uranium deposits - a total inferred resource of over 113-million pounds of contained U3O8, at an average grade of 0,64 kg/t, and a total measured and indicated resource of more than 10-million pounds at an average grade of 0,45 kg/t.

www.miningweekly.co.za/min/news/break...

[verwijderd] 10 oktober 2005 21:14

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Cameco to Sell Shares in Australian Company
Sunday October 9, 8:30 pm ET

SASKATOON, Saskatchewan--(BUSINESS WIRE)--Oct. 9, 2005--Cameco Corporation (TSX:CCO - News; NYSE:CCJ - News) announced plans today to sell its entire 6.7% interest in Energy Resources of Australia Limited (ERA), a uranium producer listed on the Australian Stock Exchange (ASX).

"We have decided to exit a passive equity investment in ERA and redeploy our resources more strategically into operations where we have greater control and receive production rather than dividends," said Jerry Grandey, Cameco's president and CEO. "This transaction gives us additional financial flexibility as we pursue our vision to become a dominant nuclear energy company producing uranium fuel and generating clean electricity."

With a public float of less than 7%, ERA shares have traded in a range during the last six months that would indicate a value of Cameco's interest in ERA between $102 million and $213 million. The final amount Cameco receives for its investment may be higher or lower due to investor interest in the ERA shares to be sold and fluctuations in ERA share price and foreign currency exchange rates. Cameco will be required to pay transaction fees and taxes on the final amount which the company expects to receive by December. All dollar amounts in this news release are expressed in Canadian dollars.

Cameco and two other minority ERA shareholders intend to offer their ERA shares for sale after converting their unlisted shares in ERA to listed A class shares prior to the offering. The offering will be made to professional investors in Australia and other jurisdictions. This ERA share sale must meet a number of conditions before it can proceed.

Cameco acquired a 6.45% interest in ERA in 1998 as part of the agreement to purchase Uranerz Exploration and Mining Limited and added a 0.25% interest in 2003. Cameco's current carrying value for its 12.8 million ERA shares is $18.2 million.

The ERA shares to be sold have not and will not be registered under the US Securities Act of 1933, as amended, and cannot be offered or sold in the United States to any person absent registration or an applicable exemption from registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction.

Cameco, with its head office in Saskatoon, Saskatchewan, is the world's largest uranium producer. The company's uranium products are used to generate electricity in nuclear energy plants around the world, providing one of the cleanest sources of energy available today. Cameco's shares trade on the Toronto and New York stock exchanges.

Statements contained in this news release which are not historical facts are forward-looking statements that involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause such differences, without limiting the generality of the following, include: volatility and sensitivity to market prices for uranium, electricity in Ontario and gold; the impact of the sales volume of uranium, conversion services, electricity generated and gold; competition; the impact of change in foreign currency exchange rates and interest rates; imprecision in reserve estimates; environmental and safety risks including increased regulatory burdens; unexpected geological or hydrological conditions; political risks arising from operating in certain developing countries; a possible deterioration in political support for nuclear energy; changes in government regulations and policies, including trade laws and policies; demand for nuclear power; replacement of production and failure to obtain necessary permits and approvals from government authorities; legislative and regulatory initiatives regarding deregulation, regulation or restructuring of the electric utility industry in Ontario; Ontario electricity rate regulations; weather and other natural phenomena; ability to maintain and further improve positive labour relations; operating performance of the facilities; success of planned development projects; and other development and operating risks.

Although Cameco believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this report. Cameco disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

biz.yahoo.com/bw/051009/95031.html?.v=1

[verwijderd] 17 oktober 2005 10:59

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Australia mulls Chinese request to explore for uranium

SYDNEY: Australia said that it could give resource-hungry China direct access to its huge uranium deposits if Beijing signs pledges the nuclear material would not be used for military purposes.

Foreign Minister Alexander Downer said China asked for permission to conduct uranium exploration and mining in Australia during talks early this year in the Chinese capital.

But he said the Chinese plans would have to get past Australia's Foreign Investment Review Board and there would need to be a nuclear safeguards agreement.

"We wouldn't be exporting any uranium to China for military purposes of any kind," Downer said on national radio.

"By that I don't only mean for use in nuclear weapons, but also we wouldn't be exporting any uranium to China for use in military vessels or vehicles of one kind or another," he said.

China has a ravenous appetite for energy to power its rapidly growing economy and is already a major purchaser of Australian coal and natural gas.

Chinese officials first asked for access to Australian uranium deposits during meetings in February with the Australian Nuclear Safeguards and Non-Proliferation Office, officials said.

The Chinese initiative was revealed Monday by The Age newspaper in Melbourne and then confirmed by Downer, who earlier this year raised the prospect of increasing Australian exports of uranium to help fuel expanding nuclear power industries across Asia, notably in China, South Korea and India.

Australia has about 40 percent of the world's known uranium reserves but has only three operating uranium mines, two in South Australia and one in the Northern Territory. The country has no nuclear power industry.

The center-left Labor Party, which controls the state and territory governments, has opposed opening more uranium mines.

Federal Labor leader Kim Beazely reaffirmed on Monday his party's opposition to opening additional uranium mines, though he said he had "no problems" with exporting uranium to China if security and waste disposal issues could be resolved.

"I would say at this stage we're as far into the business as we want to be," he said. "They (the Chinese) have got plenty of opportunity to acquire uranium from current facilities."

But Prime Minister John Howard's conservative federal government in August seized control of uranium mining rights in the Northern Territory, giving it the power to grant approvals for exploration and mining activity.

Downer said that if barriers to further uranium mining in Australia were lifted, "there's no reason why Chinese companies can't invest in Australian resources industries ... subject to the Foreign Investment Review Board."

"If Labor changed its policy, if we had a nuclear safeguards agreement and if the Foreign Investment Review Board approved the investment then they could do it," he said. "But they are, to use a Chinese-style expression, the three ifs."

A nuclear proliferation expert expressed strong concern that allowing China to conduct its own uranium operations in Australia would make it difficult to ensure the nuclear material was used only for civilian purposes.

"I'm very worried about this," Richard Broinowski told The Age.

"I think the Australians are seeing dollar signs all over the place," he said, raising the prospect of China using Australian uranium for power generation so that it would be free to use its own uranium deposits for the military.

In 2004, Australia exported 9,648 tonnes of uranium, 39 percent of which went to the United States, 25 percent to Japan, 25 percent to the European Union, 10 percent to South Korea and one percent to Canada.

- AFP

www.channelnewsasia.com/stories/afp_a...

[verwijderd] 18 oktober 2005 11:08

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En weer nieuws van de grootste uraniumproducent in de wereld:

Cameco Backs Out of Bruce Power Deal

By Tara Perkins
17 Oct 2005 at 07:08 AM EDT

TORONTO (CP) -- TransCanada Corp. is investing about C$2.13 billion in the restart and refurbishment of Bruce Power nuclear plant units in Ontario - but Cameco Corp. has chosen not to invest in the new project.

The C$4.25-billion program is the result of a deal between Bruce Power and the Ontario Power Authority, and will produce enough generating capacity to power one million homes.

About $2.75 billion of the cost will go to restarting the idled units 1 and 2 at Bruce A, with the remainder dedicated to refurbishing the remaining units 2 and 3.

Saskatoon-based Cameco, which holds a 31.6% stake in the Bruce Power Limited Partnership, has decided not to take part in the Bruce A program, so a new partnership - Bruce Power A Ltd. Partnership - has been created to sublease the facilities.

Cameco [TSX:CCO; NYSE:CCJ], the world's largest uranium producer, said it supports the project ''as an important initiative for Ontario's nuclear industry. However, the company has concluded that the final agreement with the government did not meet its investment criteria.''

Thanks to its 31.6% stake in the Bruce Power Limited Partnership, which is responsible for the overall management of the site, Cameco will receive a special distribution of about C$200 million.

Overall, however, the Bruce A reorganization will trigger an after-tax loss of about C$63 million to Cameco, the company said, because of writeoffs.

In future, Cameco will receive its share of earnings and cash distributions as generated by the Bruce B units. It also now no longer has an obligation to supply uranium concentrates to the Bruce A reactors but will continue to be the fuel procurement manager for both units.

''Given the relatively high spot price for electricity in Ontario during the third quarter, annual earnings from Bruce Power are now expected to be significantly higher than in 2004, excluding the (C$63 million) loss,'' Cameco said.

''While Cameco will no longer be involved in the Bruce A units, we will maintain our good working relationship with our partners in Bruce Power and look forward to co-operating with them on future business opportunities,'' said CEO Jerry Grandey.

Calgary-based TransCanada [TSX:TRP; NYSE:TRP] and OMERS, one of the country's largest pension plans, will each pay about $100 million in cash on closing, and each will own a 47.4% interest in the new partnership. OMERS will participate through its investment entities, BPC Generation Infrastructure Trust and Borealis Infrastructure.

The Power Workers' Union and the Society of Energy Professionals will own the remaining 5.2% stake in the new partnership.

The deal is still subject to an income tax ruling from the Canada Revenue Agency.

Under terms of the deal, the new partnership will be paid C$57.37 per megawatt hour for all of the output from Bruce A, plus fuel costs. That currently amounts to about C$63/MWh.

In an interview Monday, Bruce Power CEO Duncan Hawthorne said that price is below the average year-to-date spot price of about C$67/MWh.

The deal fixes the price for the remainder of the units lives. Bruce Power says the project means it will continue to generate electricity until at least 2035, instead of closing in 2018 as previously planned.

Electricity from the four units at Bruce B will continue to be sold into the Ontario spot market and to customers under fixed-priced contracts. The Ontario Power Authority will guarantee a floor price of $45/MWh that will rise with inflation.

TransCanada CEO Hal Kvisle said ''the Bruce Power restart and refurbishment represents a cost-competitive, long-term solution to help meet Ontario's power needs and is an attractive, long-term growth opportunity for TransCanada.

''The restart agreement is the result of months of due diligence, hard work and independent research by all parties. The agreement has been carefully structured to share risks and rewards and is fully consistent with TransCanada's disciplined and prudent approach to growth.''

TransCanada's C$2.13-billion investment will be financed through capital contributions beginning this year and stretching into 2011.

The Calgary-based company has taken steps to mitigate the risk of potential changes to the capital costs required to finish the project, chief financial officer Russ Girling told analysts on a conference call.

He said C$1.4 billion of fixed price contracts have been signed with third parties, including SNC Lavalin and Atomic Energy of Canada Ltd., in connection with the restarts of units 1 and 2, which were shut down in the mid-nineties.

In addition to restarting units 1 and 2, the project includes plans to refurbish unit 3 when it reaches the end of its operational life and replace the steam generators in unit 4.

The unlevered after-tax return on capital invested in the project is expected to be between 9.5% and 13.5%, Girling said.

Amec has been named the project manager for the restart of the two units, a contract worth up to C$510 million. Amec employs 44,000 people in more than 40 countries, including 4,000 Canadian employees.

''There's still going to be a tough couple of summers to go before we can offer any relief from (the restarted) units,'' Hawthorne said. He's hoping units 1 and 2 will be back onstream by 2010.

''Nuclear can't do anything quickly,'' he said, but added ''at least there is a credible plan to bring new supply on.''

On the Toronto Stock Exchange, TransCanada shares gained 38 cents to C$35.32 on Monday afternoon. Shares in Cameco gained C$1.92 to trade at C$61.34.

© The Canadian Press 2005

www.resourceinvestor.com/pebble.asp?r...

[verwijderd] 26 oktober 2005 17:01

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Uranium price renews interest in Ariz. mines

Max Jarman
The Arizona Republic
Oct. 26, 2005 12:00 AM

With a recent spike in uranium prices, old mines and prospects in the Arizona Strip area of Mohave County are seeing new interest.

Several companies are looking at developing prospects or opening new mines in the area, known for high-grade uranium ore and relatively low production costs.

A joint venture between U.S. Energy Corp. of Wyoming and Uranium Power Corp. of Vancouver, British Columbia, will begin exploration work next month on a group of uranium claims in the area, the companies said Tuesday. advertisement

Earlier this year, International Uranium Corp. of Vancouver said it was considering reopening its Arizona 1 mine in the Arizona Strip, a stretch of land along U.S. 89A just south of the Utah state line.

International Uranium owns three closed mines in the Arizona Strip.

It also owns the closed White Mesa mill in Utah, which employs 100 people when operating.

The mines and mill closed with others in the area in the late 1980s when uranium prices plunged to $9 per pound from more than $20.

After languishing at less than $10 per pound for almost 20 years, the price of uranium has jumped to $33 per pound and some predict it will reach $40.

The price is being boosted by a renewed interest in nuclear power, particularly in India and China, where more than a dozen new nuclear power plants are planned.

The U.S. Energy group's exploration work will focus on a number of breccia pipes that are known to carry uranium ore.

Breccia pipes are vertical shafts, possibly formed by volcanic activity, that are conducive to the formation of mineral deposits.

www.azcentral.com/arizonarepublic/bus...

[verwijderd] 26 oktober 2005 17:17

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bijna 200.000 keer gelezen en nog geen 100 postings, dit moet de moeite zijn.

Kan je ook een korte samenvatting geven, van hoe de huidige situatie er ongeveer voorstaat.

Thanks

The Artist

ps: ook i.v.m. cameco

[verwijderd] 26 oktober 2005 17:19

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quote:
The artist schreef:
bijna 200.000 keer gelezen en nog geen 100 postings, dit moet de moeite zijn.

Kan je ook een korte samenvatting geven, van hoe de huidige situatie er ongeveer voorstaat.

Thanks

The Artist

ps: ook i.v.m. cameco

Hoe kan dat in hemelsnaam bijna op 200.000 staan???

Dit is wel een aardige samenvatting:

Globaal uranium tekort verwacht

Volgens een recent rapport van de Canadese Asia Pacific Foundation komt er waarschijnlijk een 45.000 ton tekort aan uranium in het volgende decennium. Een gevolg van het pieken van de uraniumproductie in 2001. Het openen van nieuwe mijnen duurt volgens experts meer dan 10 jaar. We zien van deze piek nu al effecten, de prijzen van uranium zijn tussen 2003 en 2005 vrijwel verdriedubbeld.

In 2002 consumeerde de wereld 67.000 ton Uranium terwijl er maar 36.000 ton geproduceerd werd. De rest die nodig was kwam vanuit afgedankte nucleaire wapens. Vaak zijn er veel optimistische voorspellingen, ze gaan ervan uit dat er genoeg uraniumreserves zijn voor 42 jaar. We leven echter in een groeiende wereld.

Indien het verbruik 6x zou verdubbelen dan is de voorraad maar goed voor 12 jaar. Deze groei gaat bij het huidige tempo zeer snel bereikt worden. China is bijvoorbeeld van plan 40 nieuwe nucleaire reactoren te bouwen tussen nu en 2020. Ook India, Amerika, Rusland, Finland zijn al nucleaire reactoren aan het bouwen. En in veel landen word de bouw overwogen, zoals ook in ons land.

[verwijderd] 28 oktober 2005 08:41

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New Junior Uranium Play Poised to Outperform in Athabasca

By Michael J. DesLauriers
27 Oct 2005 at 05:19 PM EDT

TORONTO (ResourceInvestor.com) -- Pitchstone Exploration [TSXv:PXP] completed its initial public offering (IPO) about two weeks ago, raising C$3.3 million at a price of C$0.55. It was no surprise to see the stock open above the financing price, and shooting up to nearly C$0.90, as the company is recognized by industry insiders as one of the best Athabasca plays around, and has a management team with enough depth and expertise to make something exciting happen. In fact, it is no secret that as a private company, Pitchstone was courted by a number of public vehicles.

Now, with almost $5 million in the bank, the company is wasting no time in getting the ball rolling, with an 8,600 metre drilling program already underway on their eastern Athabasca Basin uranium projects.

Projects

Pitchstone picked up their properties in 2003, before the recent staking rush and therefore was able to select some highly exciting and favorably situated prospects.

The company owns 50 to 100% interest in the mineral rights to 201,000 hectares (496,000 acres) of land situated in the eastern Athabasca Basin, Saskatchewan and in the Hornby Bay Basin, Nunavut and Northwest Territories. In Hornby Bay the company has a 43-101 compliant inferred resource of 8.2 million pounds of uranium at an average grade of .23%.

In 2004, the company signed a deal with Southern Cross Resources [TSX:SXR], whereby SXR can earn a 50% interest in Pitchstone's Darby, Candle, Waterfound, Moon Lake and Lynx Lake projects. SXR will fund C$4 million in exploration and pay Pitchstone c$350,000, 1 million SXR shares and 1.5 million share purchase warrants. Pitchstone will be the operator.

Management

Pitchstone, unlike a lot of other junior uranium plays, has a solid mix between geological and technical expertise and financial/promotional capability, which should help to ensure success going forward.

Conclusion

Pitchstone’s market capitalization net of cash is under C$15 million, a figure probably justified by their Hornby Bay project alone. The exploration upside could be quite substantial and the market is sure to pay attention if they hit anything, especially given the proximity of their projects to some of the heavy hitters in the basin, such as Cigar Lake and McArthur River. Work is already underway and according to the company should be completed within about six months. The deal is only further sweetened by the fact that SXR is footing the bill.

At these levels the risk to reward ratio seems favourable, especially with uranium prices over $30/lb. An opportunity to acquire what could well turn out to be very cheap shares in 6 months to one year’s time currently exists because the story is still relatively unknown and also because uranium and energy related plays have all had a fairly meaningful pullback lately, in some cases throwing the baby out with the bathwater.

Shares in PXP closed at C70 cents Thursday, unchanged on light volume.

www.resourceinvestor.com/pebble.asp?r...

[verwijderd] 4 november 2005 15:22

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BHP Billiton sees China as potential uranium buyer
--------------------------------------------------------------------------------

Mining house BHP Billiton said on Wednesday it saw China as potential uranium buyer, but would not try to sway the Australian government to legalise sales to China.

"We are not doing anything to lobby the government," Roger Higgins, the miner's vice president of base metals operations in Australia, told Reuters on the sidelines of a parliamentary probe into Australia's uranium resources.

BHP Billiton mines uranium from its Olympic Dam lode in South Australia state, which is estimated to hold 30 percent of the world's known reserves.

"If it (sales to China) became viable because there was a viable set of agreements, then yes, we would probably be in there," Higgins said.

High electricity demand in China is expected to lead to a fourfold increase in its nuclear energy production by 2020, and China and Australia have agreed to start talks on a bilateral agreement to allow China to buy Australian uranium.

China wants to expand talks on a nuclear safeguard agreement with Australia to include uranium exploration rights, although the Australia government last month said any such move would require a policy shift.

Australia has no nuclear industry of its own, relying solely on exports to 36 countries holding bilateral safeguard agreements for revenue from the material, estimated at around A$475 million a year.

Uranium demand waned in the 1980s as cheap oil and other energy sources such as solar power compounded a public perception that nuclear power was unsafe. Prices for uranium sank to as low as $10 a pound, as demand was more than fed by a huge supply overhang.

But with much of the surplus now gone, record-high oil prices and growing concerns over coal emissions, uranium has been making a comeback. Spot prices have since risen to around $25 a pound, although most of BHP Billiton's sales are set on long term contracts which Higgins said were currently around $15 a pound.

Spot sales prices for uranium of between $20 and $30 a pound, were probably not sustainable over the next decade, he said.

Australia has only three operating uranium mines, which are owned by BHP Billiton, Rio Tinto Ltd./Plc and General Atomics of the United States.

But as many as 25 mining companies are exploring for the metal in Australia's remote Northern Territory alone, which would eventually boost supplies, according to the Australian Minerals Council.

www.miningweekly.co.za/min/news/break...

[verwijderd] 9 november 2005 20:22

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Merrill Lynch predicts big boost in uranium prices in next five years
By Jon Nones
08 Nov 2005 at 08:03 AM

Uranium contract prices may more than double over the next five years as demand from nuclear power plants outstrips supply, Merrill Lynch said in a report.

The gains would reflect higher prices for immediate delivery, which had more than tripled in two years to $33/lb and “are not scaring any customers off,” Merrill analysts said.

Global demand may rise as much as 3% a year, underpinned by a revival in nuclear power plant construction, according to the report.

www.resourceinvestor.com/pebble.asp?r...

[verwijderd] 10 november 2005 17:25

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New Uranium Vehicle Could Become Producer of Choice for Investors

By Michael J. DesLauriers
09 Nov 2005 at 07:26 PM EST

TORONTO (ResourceInvestor.com) -- The latest mammoth Endeavor deal is a play on uranium, a commodity in very tight supply and with excellent fundamentals going forward. The group has a track record of creating vehicles centered on specific commodities, which have the liquidity to become favourites of institutions looking for exposure. Also in keeping with the usual model preferred by Endeavour and friends is the massive nature of the deal, with handsome commissions and fees for everyone and a nice liquidity event for the original investors.

Urasia Energy [TSXv:UUU] managed to raise C$504 million, the proceeds of which were used to fund the purchase of uranium projects in Kazakhstan, owned of course by a private company based in the BVI. So now we have a company with C$75 in cash, a market capitalization of about C$670 million and annual production of 1.4 million pounds of uranium oxide at a cash cost of less than $10/lb. Fortunately investors have a chance to undercut the institutions this time, with the stock trading now down about 13% from the offering price of C$1.80 a share.

As one would expect, the key to this story is going to be one of rising production and hopefully rising uranium prices. Clearly, Endeavour wants it to be the uranium vehicle of choice for investors, the undisputed “go-to” option. It is important to keep in mind that there are very few options in terms of listed pure uranium producers, especially ones without a hedge.

Valuation

Lets assume that uranium prices can average $40/lb in 2006 (trading around 33/lb today), and that UUU can make $32/lb on its 1.4 million pounds of production. That would equate to cash flow of just under $45 million. In other words, Urasia is trading at roughly 15 times forward cash flow today.

Cameco [TSX:CCO; NYSE:CCJ] trades at about twice that multiple, has almost no exposure to uranium prices over $33/lb, and even in 2008, will only be about half exposed to upside above that price. From that point of view, UUU seems especially encouraging for uranium investors, with a strong balance sheet, excellent management team and solid unhedged growth in the pipeline.

It is estimated that the company can boost production to an annualized rate of 6.8 million pounds within two years and to over 10 million pounds by 2015 just with existing projects. If the 6.8 million figure comes to pass in a timely manner, one could well see a stock price a multiple of the current level by 2009, assuming uranium prices can hold in a $35/lb - $45/lb price range. Of course, if prices follow the trajectory some analysts are projecting, all bets are off. That said, it should be noted that all of Urasia’s assets are in the same place (Kazakhstan), a place which, despite being misunderstood, seems destined to trade at a discount, especially where energy related commodities are concerned (witness PetroKaz’s recent woes).

Conclusion

It seems fair to say that the market isn’t currently attributing much value to Urasia’s growth potential going forward. If strong production growth over the next few years is able to coincide with higher uranium prices, the vehicle will have done exactly what it was designed to do, and rewards for early investors in this play could be quite substantial. Uranium producers attract a high-multiple because there are so few listed options, and UUU has positioned itself to quickly become the household name for uranium investors.

Shares in UUU closed Wednesday at C$1.58, down two cents on heavy volume.

www.resourceinvestor.com/pebble.asp?r...

[verwijderd] 26 november 2005 13:18

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Niet onomstreden, maar deze opinie tref je steeds vaker aan:

Giant believes uranium has key future-energy role
--------------------------------------------------------------------------------

The world's largest diversified miner BHP Billiton, in its minutes of its Annual General Meeting that were posted on the JSE news service at the weekend, indicated that uranium had an important role to play in meeting the world's future energy needs.

“We believe that uranium has an important role to play in meeting the world's growing energy needs. Along with clean-coal technologies, renewables and other energy-efficient programmes, uranium also has the potential to help address issues of global climate change.

“With our existing thermal coal and oil and gas assets, plus the acquisition of the Olympic Dam copper and uranium operations from WMC, we are well-positioned to participate in the increase in demand for energy around the world, noted chairperson Don Argus.

He indicated that its acquisition of WMC Resources has added a further suite of long-life assets in nickel and copper, as well as expanding its energy portfolio to include uranium.

In addition, a uranium specialist has also joined the board in Dr Gail de Planque, who is a nuclear physicist and world authority in the field of nuclear energy and regulation.

“The acquisition of WMC Resources was integral to our strategy of creating sustainable long-term value. For instance, WMC expanded our presence in energy.”

Access to reliable and reasonably-priced energy is the foundation for development of emerging economies and for improving living standards, he noted.

“WMC's assets have strengthened our ability to participate in the energy sector and, therefore, in the development of those economies.”

With the rapid urbanisation of many regions of the world, energy demand is likely to increase faster than population growth over the next decades.

At the same time, the proportion of the world's population supplied by electricity will grow faster still.

The key question, said Argus, is where that energy is going to come from. Today, worldwide, 79% comes from fossil fuels, seven per cent from nuclear fission, 11% from biomass and waste, two per cent from hydro, and one per cent from renewable sources.

“There is no prospect that we can do without any of these energy sources.”

Argus said: “Meeting the world's future energy needs will require a mix of fuels, including fossil fuels, uranium and renewable energy sources.”

Owning WMC gives BHP Billiton access to around one-third of the world's economically recoverable uranium resources and it currently supplies eight per cent of the world market for uranium.

Nuclear power capacity world-wide is increasing steadily with over 30 reactors under construction in eleven countries, while most reactors on order or planned are in the Asian region.

In addition, upgrading the performance of existing plants is creating significant capacity.

It is not unreasonable to expect the operating lives of upgraded plants to extend from 40 years to 60 years.

In addition, the firm expects the gap between primary supply and demand for uranium in commercial power generation, is likely to persist for many years.

There is increasing recognition of the role that uranium can play in helping to meet the world's energy demands, while also addressing the issue of climate change.

Yet, in entering the uranium business, the firm will be dealing with a commodity about which the community has some specific concerns.

Its willingness to participate in this sector is based on the fact that the nuclear power industry is one of the most highly-regulated industries in the world with stringent licensing requirements for the construction, operation and decommissioning of all facilities involved in the nuclear-fuel cycle.

Secondly, Australian mines can only supply uranium to those states that have signed the Treaty for nonproliferation of nuclear weapons and where safeguard standards are ratified in accordance with the Treaty.

Thirdly, the Australian Government has extended the Treaty requirements through bilateral agreements with customer countries that reinforce the safeguard requirements of the International Atomic Energy Agency.

“As a miner of uranium we do not have direct responsibility for the storage of waste, however, as a responsible member of the industry, we are, of course, concerned with the handling processes from an industry perspective.

“We will work with others involved in the life cycle of the nuclear-power industry to optimise the effectiveness of management procedures and safeguards,” added Argus.

www.miningweekly.co.za/min/news/break...

[verwijderd] 26 november 2005 15:44

0

quote:
postzak schreef:
Uraniumprij maar weer eens hoger. Uranium doet het geweldig. Niet verwonderlijk met de hoge energieprijzen. Kernenergie wordt gezien als één van de serieuze vervangers van olie als energiebron.
Voor beleggingen in uranium zijn er een aantal mogelijkheden. Eén er van is beleggen in BHP Billiton, de grootste uranium producent ter wereld.

Prijs uranium: www.uxc.com/review/uxc_prices.html

Wat zijn andere goede alternatieven? Liefst zo puur mogelijk. Billiton is erg gediversiviceerd.

[verwijderd] 26 november 2005 18:21

0

quote:
schreef:
Wat zijn andere goede alternatieven? Liefst zo puur mogelijk. Billiton is erg gediversiviceerd.

Cameco Corporation (ticker: CCJ)

finance.yahoo.com/q/bc?s=CCJ&t=my&l=o...

[verwijderd] 27 november 2005 15:11

0

Aflease predicts bright future for uranium
November 24, 2003

By Sherilee Bridge

Johannesburg - Uranium could be the next big metal, junior gold producer Afrikander Lease (Aflease) said at the weekend.

The company believes it is sitting on the world's highest grade deposits of uranium, which is the nuclear fuel used by pebble bed modular reactor technology.

Neal Froneman, the chief executive of Aflease, said bringing uranium into production at its Klerksdorp mine would cost just R100 million. But with uranium contract prices "very poor", he believed mining the element might only become viable in three to four years.

"I think we are probably three to five years away from a uranium boom, similar to the boom we are seeing in platinum," he said.

"The beauty of mining uranium is that gold is a by-product. In dominium reefs, where you mine uranium at something like 400g a ton, the gold content is about 6g a ton."

Ian Ballington, an analyst at Rice Rinaldi Securities, said this potential had been excluded from financial forecasts for Aflease due to uncertainty over the uranium market and pebble bed technology, "but this now clearly offers upside".

www.businessreport.co.za/index.php?fS...

[verwijderd] 27 november 2005 15:16

0

Misschien wat minder bekend, maar Cameco (ticker: CCJ) investeert ook in goud, al blijft met afstand de core business uranium:

www.cameco.com/operations/other_inves...

[verwijderd] 27 november 2005 15:20

0

November 15, 2005 -
Uranium Spot Price Continues to Climb

Denver, Colorado, November 15, 2005--Spot market prices for uranium continue to climb as sellers seek higher prices for each sales opportunity. These increasing uranium prices have created a lull in recent market activity due to the “price gap” between willing sellers and buyers.

TradeTech’s Spot Price Indicator for uranium is holding at US$33.25 per pound U3O8--an increase of more than 8 percent over the past eight weeks. In mid-September, new demand exerted pressure on the spot uranium market and sellers continued to raise prices with each new offer, a trend that has dominated the spot uranium market this year. Sellers remain convinced of future price hikes, while some buyers, particularly those considering discretionary purchases, have postponed buying at this time. Nonetheless, bullish sellers are keeping the upward price trend alive as they look ahead to 2006 when demand is expected to surge.

www.uranium.info/news/release.html#price

[verwijderd] 27 november 2005 15:34

0

Lange termijn grafiek + data:

www.uranium.info/prices/longterm.html

[verwijderd] 27 november 2005 16:44

0

Via welke bank/broker kan je Cameco kopen? Via Rabobank niet iig, via binck en alex wel?

AEX 904,21 +4,61 +0,51% 09 mei


Germany40^	18.721,40	+0,19%
BEL 20	3.985,40	-0,75%
Europe50^	5.062,43	+0,16%
US30^	39.408,60	0,00%
Nasd100^	18.118,60	0,00%
US500^	5.215,72	0,00%
Japan225^	38.437,90	0,00%
Gold spot	2.348,59	+0,10%
EUR/USD	1,0779	+0,28%
WTI	79,61	0,00%

BESI	+3,60%
ForFarmers	+3,08%
PROSUS	+2,49%
NSI	+2,07%
Ahold Delhaize	+1,97%

TKH	-3,54%
CTP	-3,07%
VIVORYON THER...	-2,41%
AMG Critical ...	-2,40%
DSM FIRMENICH AG	-2,24%

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