Tuesday 27th September 2016

Resource Clips


Athabasca Basin and beyond

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Ashburton announces alliance, impending radon survey on PLS-area project

Ashburton Ventures TSXV:ABR announced on June 10 a strategic alliance with Alpha-Track Uranium Services to conduct a radon survey on Ashburton’s Sienna West project. Radon gas detectors led Fission and Alpha to their first high-grade holes at two of PLS’s three zones, Ashburton pointed out. The 1,090-hectare Sienna West property lies about 25 kilometres southwest of the PLS block of claims. The survey is expected to begin within two weeks.

Can you be an environmentalist and be pro-nuclear? In light of climate change, can you be an environmentalist and not be pro-nuclear?—Stewart Brand, quoted in the Robert Stone documentary Pandora’s Promise

On June 14 the company also announced follow-up work would begin on an historic aeromagnetic survey over its 852-hectare Hackett claims in northwestern British Columbia, contiguous with Doubleview Capital’s TSXV:DBV Hat copper-gold project.

ARMZ takeover of Uranium One to wrap up later than expected

Uranium One TSX:UUU now expects its acquisition by ARMZ to close in Q3, not Q2 as previously stated. Shareholders approved the takeover in March, with the transaction passing court approvals and all but one regulatory jurisdiction, Uranium One reported on June 12. That final approval is now expected in Q3. Under the deal, ARMZ would take one of the world’s largest publicly traded uranium miners private.

When ARMZ made the $1.3-billion offer in January, some analysts wondered whether shareholders would accept. In his January 16 Morning Notes, Chris Berry called the deal “both strategic and opportunistic,” increasing Russia’s security of supply at a time when uranium prices and stocks were near their post-Fukushima lows. But acceptance came in March, giving ARMZ its remaining 48.6% interest. The Russian company nabbed 51.4% in 2010.

Uranium One holds assets in Kazakhstan, the United States, Australia and Tanzania. The company produced 12.2 million pounds in 2012, a 15% increase over the previous year. Global production in 2011, the most recent annual figure available from the World Nuclear Association, was 54,610 tonnes, indicating Uranium One produced over 7% of world production that year. The company forecasts 12.5 million pounds this year and 13 million pounds in 2014.

Energy Fuels/Strathmore acquisition: definitive agreement signed, conference call planned

A definitive agreement reported June 11 shows Energy Fuels’ TSX:EFR planned acquisition of Strathmore Minerals TSX:STM continues apace. The proposal previously came to light in a letter of intent announced May 24. Shareholders will get their say at meetings scheduled for August. Both companies will host a conference call for shareholders on June 20 at 4:30 p.m. ET.

Private placements: Energy Fuels closes $6.63 million, Athabasca Nuclear $602,080

On June 13 Energy Fuels also announced closing a bought-deal private placement well above the previously offered $5.75-million max. The $6.63 million goes to exploration, development, potential acquisitions and general corporate purposes.

A third and final tranche of $160,000 announced June 12 brought Athabasca Nuclear TSXV:ASC a total of $602,080 from its previously announced private placement. The cash goes to Saskatchewan exploration and development and to general working capital.

Fission appoints Jeremy Ross director, clarifies disclosures

Jeremy T. Ross joins Fission Uranium’s board after serving as corporate development consultant for the company and its pre-Denison-takeover predecessor, Fission Energy, since 2010. Ross has over 15 years of corporate development and marketing experience with juniors. He replaces George Sanders, who has stepped down, the company stated on June 13.

On June 14 Fission clarified previous disclosures to point out that a resource for a property near its Thompson Lake claim was an historic, non-43-101 estimate and that resources reported for properties near its Macusani property in Peru were non-43-101. The company also stated that estimates of its Patterson Lake South project reported by Dundee Capital Markets were neither those of Fission nor 43-101-compliant.

Zadar appoints Paul Gray president, Mark Tommasi chairman

Paul Gray has taken over as president of Zadar Ventures TSXV:ZAD, the Athabasca explorer reported June 13. Mark Tommasi moves from president to chairman and remains a director. Gray’s 14 years of experience as an exploration geologist spans North, Central and South America, as well as Asia. Since 2007 he has worked on uranium production in the Colorado Plateau district and exploration in the Athabasca Basin and South America.

Gray sits on the boards of Argus Metals TSXV:AML, Blue River Resources TSXV:BXR, GeoNovus Minerals TSXV:GNM and Tajiri Resources TSXV:TAJ.

Uranium Valley reports AGM results

Shareholders re-elected, re-appointed or approved everyone and everything on the agenda, Uranium Valley Mines TSXV:VZZ announced on June 13. Company assets include the Mistassini-Otish property in northern Quebec and a 40% interest in the Athabasca Basin’s Beartooth Island. JV partner Ditem Explorations TSXV:DIT holds the remainder.

Robert Stone film states the environmental case for nuclear energy

Opening at theatres this month and already a hit at January’s Sundance Film Festival, Robert Stone’s Pandora’s Promise documents environmentalists who’ve come to support nuclear energy. As Forbes described it on June 9, “The movie asks whether the one technology we fear the most could save our planet from a climate catastrophe, while providing the energy needed to lift billions of people in the developing world up out of unimaginable poverty.”

The film’s trailer ends with two questions from Stewart Brand, founder of the Whole Earth Catalog: “Can you be an environmentalist and be pro-nuclear? In light of climate change, can you be an environmentalist and not be pro-nuclear?”

See previous uranium news updates:

Read about uranium supply, demand and prices.

Disclaimer: Skyharbour Resources is a client of OnPage Media Corp, the publisher of ResourceClips.com. Neither OnPage Media nor its owner hold a stock position or options in Skyharbour Resources.

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