CanAlaska Uranium Ltd. (TSXV: CVV) ("CanAlaska" or the "Company") is pleased to announce that its common shares will be listed and commence trading on the Toronto Stock Exchange ("TSX") within the next two weeks. The company's current trading symbol, CVV, will remain unchanged. "This graduation to the senior TSX board represents another milestone in the development of CanAlaska Uranium," said Mr. Peter Dasler, President & CEO.
Uranium Mining News
The full cost of the Fukushima nuclear disaster is yet to be established but its impact on the nuclear sector as a whole may not be as bad as was first thought - even with the loss of Germany as an active participant.
Industrial Info reports the German government is facing a major legal battle over its planned early exit from nuclear power as energy giants E.ON AG want billions of euros in compensation. E.ON made its intentions clear this week when it outlined plans to take legal action against the government's decision to continue demanding its controversial nuclear tax, despite shutting down the oldest nuclear plants. In March, RWE announced that it would take legal action against the government's closure o those seven nuclear plants.
In an open letter contained in an ad published this week in the New York Times, 50 politicians, actors, scientists and public officials urged the Obama Administration extend a 1-million acre mining ban around the Grand Canyon National Park for 20 years. In 2009 U.S. Secretary of the Interior Ken Salazar issued a federal order calling for a two-year "time-out" from all new mining claims in the Arizona Strip near the Grand Canyon. The lands blocked from new exploration and mining activity includes acreage managed by the Bureau of Land Management and the U.S. Forest Service. Image is from Wikipedia and Chensiyuan
On Monday, Germany announced that it’s going to shut all its nuclear power plants by 2022. What a difference a year makes. Because only a year ago, the country announced plans to extend the life of its nuclear power plants. So what’s up? According to German Chancellor Angela Merkel, “We want the electricity of the future to be safe, reliable and economically viable.” And in her mind, nuclear power doesn’t fit the bill anymore.
Construction activities have reached peak intensity on the 34-month Maxi Heap Leach Pad project for French nuclear company AREVA at its Trekkopje uranium mine in Namibia, which will feature in IM’s July issue. The Trekkopje JV, comprising Concor Roads & Earthworks as lead partner, together with Grinaker-LTA and Basil Read, reports that it has been consistently achieving its present productivity targets on what is a complicated project that requires precision planning and programme scheduling.
First Uranium announced total gold sales for its financial year ended March 31, 2011 ("FY 2011") of 142,630 ounces of gold, which is a significant increase over the 91,657 ounces sold at the end of March 31, 2010. The Company's consolidated revenue of $172 million for FY 2011, an increase of 86% from $93 million in revenue for FY 2010, resulted in the Company reflecting a $20 million gross profit margin from operations in FY 2011 compared to a loss of $18 million in FY 2010. Remembering that First Uranium remains in a capital development and growth phase, the consolidated pre-tax loss for the year was $76 million, which is a 19% improvement over the pre-tax loss of $94 million in FY 2010.
Purepoint Uranium Group Inc. (TSX VENTURE:PTU) is pleased to announce that it has completed a private placement of 2,272,727 units ("Units") at a price of $0.22 per Unit for gross proceeds of $500,000 to a group of investors including MineralFields Group. Each Unit will consist of one flow-through common share of Purepoint and one-half of a warrant ("Warrant"). Each whole Warrant will entitle its holder to acquire one non-flow-through common share of Purepoint for a period of 24 months from the date of issuance, at a price of $0.30 per share during the first 12 months and $0.35 per share during the second 12 months. All securities issued under this private placement are subject to resale restrictions until October 4, 2011.
The fear around nuclear energy is palpable. The catastrophic events in Japan on March 11 have put a damper on the momentum of what was fast becoming a nuclear renaissance. For the past several years, nuclear proponents promoted nuclear energy as a clean, efficient, reliable and safe alternative to dirty fossil fuels, and the world agreed.
The state of Andhra Pradesh in India was poised to become a major uranium hub, contributing almost 25% of the nuclear fuel for India's future nuclear energy needs. However, Uranium Corporation of India's proposal to […]
Let me begin by saying that I believe the premise of this question is mistaken. It is quite incorrect to think that fossil fuel resources are finite. It may be true that there is a finite quantity of such resources in the earth's crust, but that does not mean that we will ever run out.
Shares of top Canadian uranium producer Cameco (CCO.TO: Quote) slipped as much as 4.4 percent on Monday, after Germany said that it plans to shut all its nuclear reactors by 2022. The move to shut down its nuclear program comes just nine months after Berlin announced an extension to the lifespan of its plants by an average 12 years.
Zambia has approved the proposed takeover of Equinox Minerals by Barrick Gold on condition the government keeps its 2.2 percent stake in Equinox, a regulatory body said on Friday. The Zambia Competition and Consumer Protection Commission granted final conditional authorisation of the acquisition as the deal did not raise any competition concerns, it said in a statement.
A Conference Board of Canada report says high energy and metals prices "are prompting resource companies to invest billions in iron ore projects, nickel processing and offshore oil developments" in Newfoundland and Labrador, generating the largest growth in real GDP this year of all the Canadian provinces." The board's Provincial Outlook - Spring 2011 report issued Wednesday also forecasts that Saskatchewan "will benefit from tax breaks and a hot mining industry."
Reuters reports: China wants to help build nuclear power generation in East Africa, uranium mining and investment company IBI Corp said in a statement after meeting Chinese officials in Beijing, revealing China's undimmed appetite for overseas nuclear expansion despite the Japanese nuclear crisis this year. IBI, which has uranium-prospective land in Uganda, said its director, A.J. Coffman, held an "encouraging meeting... with the relatively new umbrella organization overseeing China's research and development of Generation 3 and Generation 4 nuclear power plant designs."
Data Explorers reports the prediction of recovery of the uranium sector. The market news is quoted as saying: The Fukushima disaster caused the largest fall in the price of uranium for two years, yet a floor may have been reached as aggressive nuclear plans announced by China and India will double global uranium production, according to Bloomberg.
Latin America used to be known for its economic and political instability. But it fought off the global financial crisis with relative ease. Poverty is now falling, the middle classes are growing rapidly and asset […]
May 19 (Bloomberg) -- China’s stocks fell for the first time in three days, led by property developers and power producers, on concern the central bank will boost borrowing costs and higher energy costs will hurt corporate earnings. Poly Real Estate
Hathor Exploration has released a new resource estimate that effectively doubles its uranium deposit in Saskatchewan's Athabasca Basin. The company said Tuesday it has identified over 30 million pounds of uranium oxide (inferred) at the East Zone of the property. That works out to 118,000 tonnes of U308 graded at 11.58%. According to the technical report, exploration consisted of a 21-hole drilling program, with about 368 sample intervals assayed for U308 and other metals, including arsenic, cobalt, copper, molybdenum, nickel and selenium. Image of mineralization in drill core, Far East Zone, by Hathor Exploration Limited
As the chart below demonstrates commodity prices are driven by different factors. The precious metals prices have been the hyperbolic driver of headline commodities news relative to the broader based commodities index and oil. The latter two are more geared to industrial use as gold’s commercial use is limited. The chart highlights the divergence in the components of the commodities index. iShares S&P GSCI Commodity-Indexed Trust (GSG) tracks 24 different commodities including energy (67%), industrial metals (16%), livestock (7%) and precious metals (3%).
Advances in energy and agriculture are creating demand for previously ignored metals such as scandium, tellurium and indium. In this exclusive interview with The Energy Report, Mining Analyst John Kaiser, editor of Kaiser Research Online, explains the science that could exponentially increase the value of overlooked stocks.
While China continues to make asset driven economic decisions and now looks like a traction control experiment where the economy is like a car that is driving on ice that doesn't yet know it, QE2 ignited the bunsen burner for commodity price speculation. Last I checked, Ben Bernanke has decided to continue on with QE2 but has decided that QE3 is probably a bad idea because the true positive impact of additional money coming into the economy would be more than offset by inflation. In my opinion he's making the right call, but this call is likely going to put downward pressure on commodities and other assets.
QE, of course, only happens when interest rates hit the zero bound, so it’s impossible to disentangle the effects of QE from the effects of G3 interest rates all coming down to 1% or lower. But the effect of all these investment flows is clear: if you look at commodities as an asset class, total commodity assets under management have risen from just over $150 billion at the end of 2008 to over $400 billion today.
In results released on Friday, Australia’s Paladin Energy showed a 47% increase in production from its Namibian and Malawian operations and record revenues of $208.7m on the back of a 31% increase in sales volumes for the nine months to March. The company said despite the concerns about the nuclear energy market following the tsunami damage to Japan’s Fukushima plant, it believes supply and demand imbalances will only widen in future as more plants, such as the 25 under construction in China, come on stream. Paladin is on an aggressive growth drive. Stage 3 of the expansion of its Langer Heinrich mine that would bring capacity to 5.2m lb is 92% complete and in February 2011 the company announced that it completed its acquisition of the uranium assets of Aurora Energy in Labrador, Canada for C$260.8m.
Uranium Energy Corp (NYSE-AMEX: UEC) is pleased to announce that, effective May 11, 2011, the Company has entered into a Share Exchange Agreement with a Nevada company hereby the Company is acquiring a Paraguayan company which holds a 100% legal and beneficial interest in two unencumbered prospecting permits covering 247,000 acres located in the area of Coronel Oviedo, Paraguay, subject to a gross overriding royalty. The total purchase price for the Paraguayan company is the issuance of 225,000 restricted common shares in the capital of the Company. Image by Uranium Energy Corp.