The 2019 exploration drilling plan for the Wheler River uranium project. (Image: Denison Mines Corp.)SASKATCHEWAN -Denison Mines Corp. and its partners in the Wheeler River uranium joint venture have agreed to spend $10.3 million to advance the project next year. A major undertaking will be to initiate the environmental assessment and engineering studies.The target of this activity will be the Pho...Read More
A map of Skyharbour's uranium projects in the Athabasca Basin. (Image: Skyharbour Resources)SASKATCHEWAN - Fifteen kilometres from the rapidly advancing Wheeler River project, Vancouver's Skyharbour Resources is finding high grades at the Moore uranium project.Drill hole ML18-14 intersected high grade uranium mineralization within the Main Maverick zone consisting of 3.11% uranium oxide over 1.8 m...Read More
AUSTRALIA - BHP Group has commissioned the new ramp at its Olympic Dam iron ore-copper-gold mine, and it doubles the haulage capacity for its trucks. The Kalta decline is key to reaching the Southern mine area where BHP is mining high grade copper resources.BHP spent A$250 million to develop the Southern mine area, and another $40 million on the ramp. The first ore from the area was produced in mi...Read More
Weekly Reports |Dec 18 2018December typically sees a pre-Christmas squaring up among uranium market participants. Last week was no exception.-End of year squaring-Spot price unchanged-Market in balance By Greg PeelIn this, FNArena's final Uranium Week for 2018, we note industry consultant TradeTech's weekly spot price indicator remains unchanged at US$29.00/lb. This is despite solid volume of 1mlb...Read More
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESToronto, Canada (December 17, 2018) - Mega Uranium Ltd. (MGA: TSX) is pleased to announce the closing today of the first tranche of its previously announced non-brokered private placement (the "Financing"), pursuant to which the company raised aggregate gross proceeds of $1,310,000 from the issuance an...Read More
Toronto, Canada (December 14, 2018) -- Mega Uranium Ltd. (TSX: MGA) announces that it will be restating its audited annual financial statements for the year ended September 30, 2017 (the "2017 Annual Statements") and its interim financial statements for the first three quarters of the 2016, 2017 and 2018 financial years (the "Interim Statements"). The restatements are all due to deferred tax acc...Read More
The partners in the Hook Lake uranium joint venture have approved a 2019 exploration budget of $3 million. Situated within the Patterson Uranium District, Hook Lake is owned jointly by Cameco Corp. (39.5%), Orano Canada (39.5%) and Purepoint Uranium Group (operator and holder of a 21% interest).This year's program includes 6,600 metres of diamond drilling by two rigs. Seven holes will test targets...Read More
SASKATCHEWAN - Fission 3.0 Corp. of Kelowna, B.C., is preparing for its winter drilling program at four high priority targets - Wales Lake (two holes), Patterson Lake North (five holes), Key Lake (nine holes) and Cree Bay (two holes). About 4,400 metres of drilling is planned.Fission 3 recently completed an $8-million financing with which to fund the work.The Wales Lake occurrence is similar to Fi...Read More
The rally in uranium prices, which began in April this year amid production cutbacks in Kazakhstan and Canada, is set to continue as inventories of the nuclear material decline for the first time in nearly a decade.Production at Kazakhstan state-owned uranium miner Kazatomprom, responsible for more than a quarter of global output, was 19,600 tonnes during the first eleven months of 2018, a 7% decl...Read More
SASKATCHEWAN - Vancouver's CanAlaska Uranium and Saskatoon's Cameco Corp. have formed the West McArthur joint venture and agreed on a $2.4-million exploration budget for 2019. CanAlaska will be the operator and 70% owner.Next year's work will focus on extending the footprint of the three discovery holes in 2017 and 2018. They define a halo of uranium mineralization in the sandstone. The halo measu...Read More
Drilling at the West McArthur uranium property. (Image: CanAlaska Uranium)SASKATCHEWAN - Vancouver's CanAlaska Uranium and Saskatoon's Cameco Corp. have formed the West McArthur joint venture and agreed on a $2.4-million exploration budget for 2019. CanAlaska will be the operator and 70% owner.Next year's work will focus on extending the footprint of the three discovery holes in 2017 and 2018. The...Read More
SASKATCHEWAN - Fission 3.0 Corp. of Kelowna, B.C., is preparing for its winter drilling program at four high priority targets - Wales Lake (two holes), Patterson Lake North (five holes), Key Lake (nine holes) and Cree Bay (two holes). About 4,400 metres of drilling is planned.Fission 3 recently completed an $8-million financing with which to fund the work.The Wales Lake occurrence is similar to Fi...Read More
Locations of 2019 drill sections in the Derkson Corridor at Hook Lake. (Image: Purepoint Uranium)SASKATCHEWAN - The partners in the Hook Lake uranium joint venture have approved a 2019 exploration budget of $3 million. Situated within the Patterson Uranium District, Hook Lake is owned jointly by Cameco Corp. (39.5%), Orano Canada (39.5%) and Purepoint Uranium Group (operator and holder of a 21% in...Read More
Mining companies across the globe now consider the risk of losing their licence to operate as the biggest risk to their businesses in the next two years, a new study shows.According to the 11th annual EY survey of 250 executives, the topic was listed sixth in the list of the ten major risks facing mining and metals firm in 2019-2020. Other challenges listed by the participants were rising national...Read More
Based on a 2012 exploration program that identified high-grade cobalt and vanadium at the Duddridge Lake project in Saskatchewan, Searchlight Resources (TSX-V: SRCH) decided to acquire the property located some 75 kilometers northwest of the town of La Ronge."With the increasing interest in battery technology utilizing both vanadium and cobalt, the Duddridge project represents an excellent project...Read More
Weekly Reports |Dec 04 2018Uranium spot market volumes in 2018 are almost 40% above record 2015 volumes with another month to run.-2018 volumes surge-Unfamiliar players in the market-Spot price continues to riseBy Greg PeelBy the end of November, over 62mlbs U3O8 equivalent had changed hands in the uranium spot market. That's almost 40% above the record annual volume set in 2015, industry consulta...Read More
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESToronto, Canada (December 3, 2018) - Mega Uranium Ltd. (MGA: TSX) ("Mega") announces today that it is proposing to complete a non-brokered private placement to sell up to 15,909,091 units (the "Units") at a price of $0.11 per Unit, for aggregate gross proceeds of up to $1,750,000 (the "Financing").Ea...Read More
The body representing the mining industry in Canada's Nova Scotia province is calling on governments and companies to do a better job of managing project developments, so exposure to radon and uranium can be reduced.Radon is a naturally-occurring gas produced by radioactive decay of uranium, and it is found in measurable quantities in all rocks and soils in Nova Scotia.Radon is a naturally-occurri...Read More
KINSHASA, Nov 29 (Reuters) - The authorities in Democratic Republic of Congo will audit the supply chain for Glencore's Kamoto project next week to determine where small amounts of uranium detected in its cobalt come from, the mines minister said on Thursday.Glencore subsidiary Katanga Mining said on Nov. 6 it had halted cobalt exports from Kamoto in southeastern Congo while it builds a facility t...Read More
Weekly Reports |Nov 27 2018Longview Economics provides technical, fundamental and military reasons to be bullish uranium.-History suggest price retracement-China drives nuclear power demand-US-China tensions drive nuclear arsenal build-upBy Greg PeelFrom 2001 to 2007 the spot uranium price rallied 175% from US$7/lb to US$136-138/lb to mark one of the biggest asset price bubbles in recent history,...Read More