Extract Resources said on Monday it was confident that the Namibian government's proposed policy changes on strategic minerals will not affect its Husab uranium project license.
The Namibian government is expected to hold a news conference this week to clarify plans to assign almost all mining and exploration rights to a state-owned company.
Paladin Energy Ltd. (TSX:PDN)(ASX:PDN) ("Paladin" or the "Company") advises that Wyatt Buck, Executive General Manager – Production will be leaving Paladin in May. He has decided to change direction and depart the uranium sector, taking a senior role with a company focussed on other commodities. We wish Wyatt all the best in his new venture and, on behalf of myself, management and the Board, sincerely thank him for his contribution and dedication over the past 5 years during a time of great growth for the Company.
Brazilian Gold Corporation (TSX VENTURE:BGC) ("Brazilian Gold" or the "Company") is pleased to announce the closing of its previously announced bought deal private placement, including the full exercise of the $3,003,000 Underwriters' option (the "Offering"). Under the Offering, the Company issued an aggregate of 16,445,000 common shares (the "Common Shares") of the Company at a price of $1.40 per Common Share for gross proceeds of $23,023,000.
The Company intends to use the net proceeds of the Offering to advance the Company's gold projects in Northern Brazil, and for general corporate purposes.
Greg Hall, managing director of Toro Energy Ltd (ASX: TOE), said the main nuclear power countries are continuing their new build programmes for nuclear power while adapting to lessons learned from the incident.
The uranium spot price dropped significantly after the incident but had, by the end of the March quarter, returned to the December 2010 average of $US62.50 per lb of U308.
Tournigan Energy Ltd. (TVC: TSX-V; TGP: Frankfurt) has updated its resource estimate for the Kuriskova uranium deposit in Slovakia. This NI 43-101 compliant updated estimate increases the amount of uranium contained in the Indicated Resource by 39% to 28.5 million pounds of U3O8 and increases the overall size of the deposit. Tetra Tech, Inc., the firm that is conducting the ongoing Prefeasibility Study on Kuriskova, has reviewed, audited and approved the updated resource estimate.
Nunavut is attracting the attention of the world's miners like never before, says Scotiabank commodities analyst Patricia Mohr, speaking at a mining summit in the mineral-rich Canadian northern territory. Nunatsiaq Online reports:
Pushed by the developing world’s growing hunger for consumer items, civil unrest in many countries, and “random” events like the recent tsunami, earthquake and nuclear power plant disaster in Japan, mining companies around the world are eying Nunavut with far more interest than before.
Top global miner BHP Billiton has moved into the feasibility study stage of preparing a long-awaited expansion of the Olympic Dam copper and uranium mine in South Australia.