World`s least wanted uranium stock – Moneyweb Barry Sergeant|13 January 2010 “………….To date, First Uranium……. uranium production is yet to see the light of day. Stock exchange regulators in a number of jurisdictions have been on the retreat for the past few years, in the wake of some of the biggest, babbling, investment scandals yet to besiege mankind. So far, First Uranium has apparently managed to say off the radar screen, but promises in its Toronto prospectus have turned out to be a shoddy disgrace…………… (more…)
Posts Tagged ‘business and costs’
First Uranium – company in financial strife
January 20, 2010Uncertain future for uranium industry
December 30, 2009Right now, there’s a lot of speculation, but exactly how large demand will grow, no one knows.”
Two companies push Uranium mining in region By GARY HARMON/The Grand Junction Daily Sentinel December 27, 2009 Two major international suppliers of uranium, meanwhile, are out of commission temporarily and possibly permanently. The Cigar Lake Mine in Canada flooded, and the Olympic Dam Mine in Australia is out of production because of a shaft accident………………… (more…)
Russia looking to uranium market in USA
December 29, 2009Russia sees 2010 uranium deals with U.S. utilities
MOSCOW, Dec 25 (Reuters) by Dmitry Solovyov; Editing by Mike Nesbit- Russia’s state uranium trader Techsnabexport (Tenex) will sign next year at least three deals worth around $1 billion to supply uranium directly to U.S. utilities, Russia’s state nuclear firm Rosatom said on Friday. (more…)
Uranium mill suspended – probably forever
December 22, 2009Denison to suspend McClean uranium mill next year To put mill on “care and maintenance” TORONTO, Dec 15 (Reuters) – Denison Mines (DML.TO) said on Tuesday it will suspend the McClean Lake uranium processing mill in mid-2010, following the halting of nearby uranium projects that were destined to supply it with ore…………. The company said the mill will retain staff to maintain it and keep it ready to restart if one of the projects comes on line.
‘Flat” forecast for uranium price
December 14, 2009Half-hearted uranium price response to Olympic Dam incident
Mining Weekly By: Liezel Hill
12th December 2009
TORONTO – The uranium spot price firmed in October, after BHP Billiton reported an accident at its Olympic Dam copper/uranium mine mine, in Australia, but has failed to find support at the higher level, Australian equity research firm Resource Capital Research (RCR) commented on Friday. (more…)
Uranium One continues losses
November 14, 2009Uranium One revenue falls 62% on lower volumes, prices
TORONTO – Vancouver-based Uranium One lost $11,9-million in the third quarter, (more…)
Big revenue loss for uranium miner Paladin
November 14, 2009oilweek Nov 12, 2009 Paladin Energy suffers big loss; revenue down almost US$14M (Paladin) Ca PERTH, Australia _ Uranium producer Paladin Energy Ltd (TSX:PDN) blamed a decline in sales and prices for as fourfold increase in its net loss in the quarter ended Sept. 30.
Paladin, which reports in U.S. dollars, said it lost US$20 million or three cents a share in the quarter. That compares with a loss of $5.1 million or one cent in the 2008 quarter.Revenue was US$38.6 million, down from $52.4 million last year.
Nuclear slowdown and poor uranium prices
November 10, 2009DJ ERA: Weak Uranium Prices, Weak USD Makes Projects UneconomicMon. TRADING MARKETS November 09, 2009; SYDNEY, Nov 09, 2009 Dow Jones Commodities News via Comtex) – Uranium miner Energy Resources of Australia Ltd. (ERA.AU), a unit of Rio Tinto Plc (RTP), said Tuesday weak uranium prices as well as the weak U.S. dollar would render new mining projects uneconomic in the longer-term.
This would leave the market heavily dependent on expansions in Kazakstan, in an industry where the global financial crisis was likely to slow new reactor build……………………
EGRAF,RTP DJ ERA: Weak Uranium Prices, Weak USD Makes Projects Uneconomic
Olympic Dam uranium mine to cut jobs
November 6, 2009Olympic mine job losses The Age BARRY FITZGERALD November 7, 2009 BHP Billiton has warned of job losses among its contractor workforce at the damaged Olympic Dam copper-gold-uranium mine in South Australia (more…)
Chinese nuclear company buys 70 percent of Australian uranium miner
October 29, 2009Calls for clarity on Chinese resources investment October 29, 2009 The Australian AUSTRALIA’S policy on Chinese investment in resources has, if anything, become murkier since Chinalco’s controversial $US19.5 billion Rio Tinto rescue package fell through earlier this year, prompting renewed calls for more clarity………………
Last month, FIRB executive director Patrick Colmer said the government preferred foreign investment in undeveloped mineral deposits to stay below 50 per cent, and for investment in “major producers” to stay below 15 per cent…………..
This was followed by a decision yesterday to let China Guangdong Nuclear Power pay more than $100 million for up to 73 per cent of Perth uranium explorer Energy Metals,
