Tuesday, August 29, 2006
Uranium jumps another notch
More news items here and here. SXR is starting up their Honymoon project. I looked at SXR here and I've since changed my mind about them, but would need to do more work to determine whether to actually invest in it.
The [Honeymoon] ISL project was expected to produce 880 000 lbs of U3O8 over a six-to-seven year period, compared to 3,8-million lb from Dominion. The life-of-mine average cash operating costs at the “shallow” Honeymoon venture was expected to be $14,13/lb U3O8, which translated into a net present value of $37,7-million, at an 8% discount rate.I believe those are Australian dollars (=76 US cents), as well since they mention uranium breaching $50.
The feasibility study confirmed an indicated mineral resource of 1,2-million tons of ore, grading 0,24% U3O8.Here's an interesting article.
It’s time for uranium companies to stop talking about the pounds they have in the ground, and to start actual production, says Geiger Counter comanager Andrew Ferguson.Well, that's the whole point, no? I know Strathmore (combined links) is working toward that goal.
After remaining stagnant for 30 years, there remains few skilled people to manage the renaissance uranium-mining is experiencing currently.
Personally, I think they should wait a while, build up some cash reserves, and spend some time together before they have children.