Australian (ASX) Stock Market Forum

Uranium, a Raging Bull

Jump to new
sydneysider said:
The WA Government is very keen to export all employment opportunities and the massive cash flows to Africa and other sources of U in the name of "non-proliferation" so that these other countires can become massive exporters of U. The logic of this position totally escapes me.
Click to expand...

Carpenter has his political capital at this moment. WA is number one in iron ore, gold, nickel, mineral sands, maybe natural gas? I don't think they do care about uraniums. They cannot beat SA for the resources and production.

Instead of fighting against the single-minded WA state policies, particularly I am not WA resident, I stay with minimum exposure to companies with WA uranium assets. I surely avoid pure WA asset no matter what they have. My preference is (in order): Africa, NT, SA, South America, Central Asia, the United Sates and QLD

The only thing I can is to invest less and less in WA's companies. There are plenty of good resource companies based in SA, NT, QLD.
 
sydneysider said:
The WA Government is very keen to export all employment opportunities and the massive cash flows to Africa and other sources of U in the name of "non-proliferation" so that these other countires can become massive exporters of U. The logic of this position totally escapes me.
Click to expand...
Because uranium mining in WA is more likely to lead to a waste dump here. That is his logic, as has been repeated several times, ffs.
 
chops_a_must said:
Because uranium mining in WA is more likely to lead to a waste dump here. That is his logic, as has been repeated several times, ffs.
Click to expand...

Does Olympic Dam have a waste dump for the uranium it has sold??? The only one headed to a waste dump at the moment is Beazley and his U policies. Rudd says he is in favor of U mining? IMHO opposition to WA and QLD U mining will fade. Too much money, too many jobs involved to say "No"

There is a free trade and constitutional issue involved here. I would imagine as the price of U keeps heading upwards there should be constitutional challenges from holders of U deposits in WA & Qld.
 
Report in the Fin this am about a joint committee in government supporting a national policy to open up uranium mining for all. Importantly, 3 key Labor members supporting the proposals, including Martin Fergy, who is an important power broker in the Labor Party. Rudds stated he's behind it. All systems go for Nat Labor to change their policy, then 6 months for the states to ratify and then I'm out there with a shovel! Anyone want to peg some land with me and start digging?
 
hi Kennas
I am a pretty good watcher , so I think you had better have the shovel and I'll make sure that the hole is deep enough :) And we'll go 50/50

Cheers Martin
 
kennas said:
Libs have a policy of new mines.

They have actually stated that they want to overturn the States jurisdiction on mining their own land, and make it a Federal decision. They can make this happen at the moment if they wanted, due to their majority, but they couldn't do it in reality due to the political backlash it would cause. They're in trouble enough with overturning certain State decisions.
Click to expand...

Hey in the paper today was a thing that said that Rudd supports new uranium mines... seems like Labor or Liberal is a good choice... I'd be holding to U stocks for a while...
 
x2rider said:
hi Kennas
I am a pretty good watcher , so I think you had better have the shovel and I'll make sure that the hole is deep enough :) And we'll go 50/50

Cheers Martin
Click to expand...
How can I refuse an offer like that!!!!

On the plus side for me is that a lot of Australia's uranium is close to the surface so I won't have to dig very deep. :)

All the news about uranium mining laws changing is all very very positive at the moment. The only oil in the water (trying to find the right pun) is Peter Garret (get it?). He is probably going to be on the new front bench of Rudds new crew, and he may have something to say about new mines. He was the head of the Nuclear Disarmament Party at one point....But you'd have to say overall that all is looking extremely bulish for Aussie U explorers with good quality resources, close to logistic hubs right now.
 
kennas said:
The only oil in the water (trying to find the right pun) is Peter Garret (get it?). He is probably going to be on the new front bench of Rudds new crew, and he may have something to say about new mines. He was the head of the Nuclear Disarmament Party at one point.
Click to expand...

Everyone is too stoned to start emission
People too scared to go to prison
We're unable to make decisions
Political party line don't cross that floor!
L. Ron Hubbard can't save your life
Superboy takes a plutonium wife
In the shadows of Ban the Bomb we live


What I wouldn't give for two or three sentences with that traitor.
 
sydneysider said:
Does Olympic Dam have a waste dump for the uranium it has sold??? The only one headed to a waste dump at the moment is Beazley and his U policies. Rudd says he is in favor of U mining? IMHO opposition to WA and QLD U mining will fade. Too much money, too many jobs involved to say "No"

There is a free trade and constitutional issue involved here. I would imagine as the price of U keeps heading upwards there should be constitutional challenges from holders of U deposits in WA & Qld.
Click to expand...


The Only way to dispose of uranium safely is to dig deeply into the ground... very deep, about 2 kilometers deep which is below all water tables... so deep down that it's right next to Kim Beazley's approval rating :D
 
Sometimes, I am wandering what are these junior busy with? BHP has over 1.7mt of U3O3 resources just for Olympic Dam only, and a uranium miner. The sum of the rest uranium player in Australia still has less than 25% of it.

I guess someday some fat cat LBOs will have a hard look at it. Buy out BHP, split it into 100+ juniors, Sell each one for more than $1b. under todays valuation, the BHP uranium asset will worth anywhere around US$30b.
 
mmmmining said:
Sometimes, I am wandering what are these junior busy with? BHP has over 1.7mt of U3O3 resources just for Olympic Dam only, and a uranium miner. The sum of the rest uranium player in Australia still has less than 25% of it.

I guess someday some fat cat LBOs will have a hard look at it. Buy out BHP, split it into 100+ juniors, Sell each one for more than $1b. under todays valuation, the BHP uranium asset will worth anywhere around US$30b.
Click to expand...

The Wall Street Journal did a half page article on the major Uranium shortage that is a long term issue for the U.S. U prices are going to continue to rise because of this and other worldwide demand. Speculation on the xplorer end may become as big as the Poseidon boom and that one was a doozy. I remember the float of Westralian Nickel where moose pasture went for hundreds of millions of dollars. This boom has not even started yet in comparison.
 
The Africa is becoming uranium hunting ground. OMC is going to be the first prize. Whoever get the advanced project is the prime target. EQN, EVE, DYL, WME, UNX,... Any other companies?
 
That report looks terrible.

They are not using fully diluted market caps.

The uranium resources supplied for a lot of companies are either incorrect or at best guesses. Example Bannerman's market cap is a long way off and resource is a guess - no JORC. ACB is another where the resource is assumed. The known resource at mokabaesi is 1.75Mt @0.069%, the 75MT estimate has not been verified by drilling.

Also have no idea where they got where they got an 84MT resource for DYL :confused:

OMC has a JORC that is 13.7mt not 12. They seem to speculate for some companies on resources and not for others

And they can't even spell Kariba. :banghead:

:2twocents
 
Another junior is on trading halt. MRO. The Chairman has visited Hong Kong Last week attending "a few very important meetings". (I quote) I hope that it is not another foreign attack. Common Aussie, weak up. If you don't change the policy, all good uranium assets will be in foreigners hand. Being poor may be worse than the imaginary uranium waste dump.
 
Committee backs uranium exports to China
Email Print Normal font Large font December 6, 2006 - 10:15AM

Advertisement
AdvertisementA bi-partisan parliamentary committee has backed the export of uranium to China as being in the national interest.

Liberal MP Andrew Southcott has tabled in parliament two agreements between Australia and China on the transfer of nuclear materials and the peaceful use of nuclear materials.

He told parliament Australia could earn $250 million a year from the sale.

"The committee has concluded it would be in the national interest for these two treaties to enter into force," he said.

Labor MP Kim Wilkie said the export plan represented a boon for the nuclear power industry, but Australia should also lead a new initiative to strengthen nuclear safeguards.

However Australian Democrat Andrew Bartlett dissented, saying in the report that Australian uranium mining and exports should be phased out and the government should give more support to other safe, clean and renewable energy sources.

Dr Southcott said Australia exported uranium to countries with which it had safeguards treaties.

The treaties included a ban on Australian uranium being used for military purposes.

He said there were other levels of oversight as China had joined the Nuclear Non-Proliferation Treaty and the International Atomic Energy Agency (IAEA).

Dr Southcott said China, whose power needs were growing rapidly, wanted to diversify away from coal.

The committee had been told that for every 22 tonnes of uranium used instead of coal for power, one million tonnes of carbon dioxide emissions would be saved.

Mr Wilkie said there were legitimate concerns about the effectiveness of the international safeguards system to monitor nuclear activity.

The IAEA had said its safeguards department had the same budget as the Vienna police force.

"In this age of international terrorism, this is not good enough," Mr Wilkie said.

The IAEA needed, among other things, advanced satellite monitoring technology.

As reliance on nuclear power spread internationally, safeguard concerns would grow unless the IAEA was better funded, and Australia should take a lead on this, Mr Wilkie said
 
Thanks for the news re China YT - this is perfect timing for PNN which is soon to report on Sino's prospective involvement...
 

Similar threads

tech/a
Uranium problems - supply and disposal
Replies
4
Views
5K
laurie
L
Top