Uranium, a Raging Bull

[Kauri]

Doubt kintyre will see the light for a lllong time.

Any project in WA faces delays...theres just too much happenning in that state and everything will get pushed back.

QLD is the better bet- fulll of major mining houses like Zinifex, BHP Cannington, MIM/Xstrata, All the major coal mines/deposits. Mining culture and infrastructure is best in QLD. SMM is the best fit and Market has reacted accordingly. Their resource estimates due this week keep an eye out.

Bureacracy/red tape in approvals will hurt SA, they have a poor reputation in this area IMHO.

I doubt Kintyre will set up any time soon either, but that really wasn't what I was saying.... incidentally if the W.A Govt. were to change how long do you think it would take???

Bureacracy/red tape in approvals will hurt SA, they have a poor reputation in this area IMHO

Bureacracy/red tape in SA hasn't hurt them so far..
There are three operating uranium mines in Australia, Ranger in NT, Olympic Dam and Beverly in South Australia. A fourth is cleared to start construction: Honeymoon, in South Australia.

 

[Halba]

Hi I read reports Honeymoon took a LONG time to go through the approvals processes - MARP - mining and rehabilitation program.

Not to mention several mines like Prominent Hill took ages to get through approvals. I'm talking more than just a few months.

Beverly itself took a year of approvals and a lot of opposition.

 

[zed327]

Uranium $95 a pound.

http://www.newswiretoday.com/news/15734/

Spot Uranium Price Increases to US$95 per Pound - Uranium Mining Stocks Rebounding



NewswireToday - /newswire/ - Sarasota, FL, United States, 03/25/2007 - TradeTech’s Nuclear Market Review reported the weekly spot uranium price indicator was raised to a record US$95/pound. Canadian uranium stock index shows uranium mining shares rebounding.



On Friday, TradeTech’s Nuclear Market Review (NMR) reported a record weekly spot uranium price increase to US$95/pound ahead of this coming week’s sealed-bid auction of 100 thousand pounds of U3O8 in Corpus Christi, Texas.

“Buyers remain willing to pay higher prices,” wrote NMR editor Treva Klingbiel. “Seven buyers continue to seek over three million pounds.” Three transactions took place in the spot uranium market, for immediate and June delivery, for just under one million pounds U3O8 (also known as yellowcake or uranium oxide). TradeTech, the consulting service which polls fuel brokers and utilities, posts changes in the weekly spot price on its website at uranium.info

In a related development, uranium mining stocks have rebounded the past two to three weeks, according to TheInvestar group which tracks 43 North American uranium companies and 25 Australian uranium companies. Matthew Smith, who produces the weekly uranium stock index, told StockInterview the uranium indexes could test their all-time highs over the next two months, as investors return to capitalize on the higher commodity price.

 

[mmmmining]

Cannot believe it, $95/lb

here is a bit more info.

http://www.stockinterview.com/News/03252007/Uranium-Price-Increase-Uranium-Stock-Index.html

 

[greggy]

Good to see the uranium price continuing to climb. With demand continuing to grow rapidly the outlook remains positive IMO.
DYOR

 

[YOUNG_TRADER]

Here's some interesting Info suggesting a U price of $130 US/lb + is needed to bring on significant supply of Uranium

 

[YOUNG_TRADER]

I'll try again

 

[mmmmining]

Nice try by NUP.

Personally, I wish it will never reach US$130 level, unless 1AUS$=1US$. I will sell all my uranium stocks when it crosses that line.

High commodity price is killed by high commodity price.

 

[mmmmining]

t is very interesting that people are not as excited as before when someone alleged to have found uraniums in WA. SA and QLD are the la-la lands.

It is also very funny that the latest excuse for not mining uranium in WA is to keep it for future WA. Just ask yourself, who can about your future? Government?

But it does create a window of opportunity, from a totally idiot, to somehow a liar. It is Darwinism.

Let's guess next excuse. Uranium is not safe for consumer. People might order a yellowcake for someone's birthday party by accident....

 

[Wysiwyg]

Let's guess next excuse. Uranium is not safe for consumer. People might order a yellowcake for someone's birthday party by accident....

Also hold on the coalslaw & virgin olive oil.....

 

[mmmmining]

Also hold on the coalslaw & virgin olive oil.....

I like extra virgin...

 

[mmmmining]

I forget to read this article from miningnews.net. Very funny.

Last Green Bottle in Rudd's sights

Monday, 26 March 2007

LIKE the famous green bottles of a famous drinking song that Dryblower once sang with gusto, the opponents of uranium mining in Australia are steadily falling.

The bottles, in the shape of state premiers, and other assorted leaders of the left, are not falling accidentally, as the ditty goes. They are tumbling in a rather predictable, if not orchestrated way.

If Dryblower was in the least bit cynical, he could imagine that what he's watching is a classic piece of Labor Party theatre, a sort of pre-conference cleaning of the decks so their new man, Prime Minister-in-waiting, Kevin Rudd, can stride on stage as the hero of the day without a voice opposing his vision for Australia.

As at last Friday, thanks to the conversion of Queensland Premier Peter Beattie, to the pro-uranium side of the debate, the head count showed that there was only one remaining obstacle standing on the wall, the Green Bottle (sorry, Premier) of Western Australia, Alan Carpenter.

Grumpy, or Carps as he is known, is the man holding the true Labor line of opposing anything to do with uranium.

Dryblower respects his obstinacy. It is in keeping with a fine attitude held by most journalists, or ex-journalists in Grump's case, of never (ever, ever, ever) admitting that you're wrong – or at least never admit an error immediately.

In time, and Dryblower knows this is true because he's played the same game, it's considered alright to drop one opinion and slide into another.

In the case of Alan Carpenter it will either be a case of (a) slowly adopting a pro-uranium stance, or (b) pretending he had never seriously opposed uranium mining, just the storage of waste, or (c) recognising the role to be played by uranium in the global warming debate, or (d) he's told to toe the line by Rudd.

Of these choices, and given that we will never quite know what Rudd said to his old mate Carps in a late night 'phone call (perhaps something like "get into line mate, or I'll iron you out"), it is highly likely that Carps will adopt a save-the-planet line of logic.

The reason Dryblower is enormously confident that this process of re-educating Carps is underway lies in the simple fact that he is one the verge of becoming a lame duck premier.

Corruption at the highest level in the WA Government has reduced the state to a position of irrelevancy in Labor Party politics.

As far as Rudd is concerned, the destruction of confidence in government in WA caused by the Brian Burke affair, in which a former premier used a series of internal government informants to feather his own nest, means that WA is a pariah, and less heard from people like Carpenter, the better for the Party.

Once Rudd is safely installed in The Lodge in Canberra, he will move to clean up Labor politics in the west, perhaps even pressing for a takeover by the national organisers of the party machine in Perth.

As far as Dryblower can see, this is perhaps the only way the stench from the Burke affair can be washed out of Labor's linen.

For readers more interested in mining than politics, this probably all seems a little irrelevant – if it wasn't for the impact these Labor Party processes will have on the uranium debate.

Right now, Australia is poised for a great leap forward into a new world of multiple uranium mines, and the only man standing in the way with any weight in the Labor Party process (albeit a lightweight after the Burke affair) is Carpenter.

But, with Beattie in line, and with a badly weakened Carpenter who is facing a "carpeting" by Rudd, the stars (sorry, bottles) are aligned as they have never been before.

 

[greggy]

t is very interesting that people are not as excited as before when someone alleged to have found uraniums in WA. SA and QLD are the la-la lands.

It is also very funny that the latest excuse for not mining uranium in WA is to keep it for future WA. Just ask yourself, who can about your future? Government?

But it does create a window of opportunity, from a totally idiot, to somehow a liar. It is Darwinism.

Let's guess next excuse. Uranium is not safe for consumer. People might order a yellowcake for someone's birthday party by accident....

Hi Mmmmining,

I'm too sick and tired of hearing Mr Carpenter's excuses. Why doesn't he just say the honest truth about the matter, the Party's Left faction just won't allow uranium mining. Yet until recently, they allowed contact with Mr Burke. Corruption is rife on a massive scale in WA and Mr Carpenter, despite his best efforts, is unable to control his party. Maybe he'll cross the floor along with a few of his more honest mates and join forces with the Opposition. Interesting theory??

 

[mmmmining]

Hi Mmmmining,

I'm too sick and tired of hearing Mr Carpenter's excuses. Why doesn't he just say the honest truth about the matter, the Party's Left faction just won't allow uranium mining. Yet until recently, they allowed contact with Mr Burke. Corruption is rife on a massive scale in WA and Mr Carpenter, despite his best efforts, is unable to control his party. Maybe he'll cross the floor along with a few of his more honest mates and join forces with the Opposition. Interesting theory??

Greggy, I am not sure. We Aussie are different spices, having no respect for traitors. So I don't think it is the best interest for Alan.

But if you read the Miningnet.com article, Rudd might "iron him out".

 

[greggy]

Greggy, I am not sure. We Aussie are different spices, having no respect for traitors. So I don't think it is the best interest for Alan.

But if you read the Miningnet.com article, Rudd might "iron him out".

The Fed Labor Party has already had 2 leaders who have become traitors in Billy Hughes and Joe Lyons. I hope Rudd irons him out.
It was just some fun speculating on my behalf. Seriously, if things get too rough for Alan, he may well end up resigning.

 

[zed327]

Uranium is still dirt cheap compared to other forms of energy and for that reason it is going a lot higher as demand continues to increase:

"Two factors work very much in favor of uranium being economically viable at much higher prices. The first is that energy content per unit of weight is very high. For example, 1 kg of uranium has as much potential energy as 2,300,000 liters of gasoline.

The second is that the price of uranium when converted to other forms of energy, such as electricity, is a very small part of the retail price. For example, at a U3O8 (yellow cake) price of about US$70/kg [UC, Oct 2005] the raw material cost of the uranium to produce electricity in thermal reactors is about US$0.0015/kWh [Pendergast, 1990]. If the price of U3O8 were to increase 100 fold to US$7,000/kg, the price of electricity would increase by about US$0.15/kWh, which compares with the current retail price of electricity in North America being US$0.05 to US$0.15/kWh. Thus, if the current price increased even that dramatically, the price of electricity would increase to US$0.20 to US$0.30/kWh, which would be manageable.

However, with fast reactors that “burn” virtually all of the uranium, even if U3O8 increased in price about 200 times from US$70/kg to the current price of gold at US$14,000/kg, the fuel cost for electricity generated by nuclear fission breeder reactors would be less than US$0.003/kWh."

Source: http://www.computare.org/Support documents/Fora Input/CCC2006/Nuclear Paper 06_05.htm

 

[YOUNG_TRADER]

Time for India to get in on the U rush!

PM backs India-US deal in nuclear forum
Thursday Mar 29 14:12 AEST
Prime Minister John Howard expects a powerful group of nations that export uranium and nuclear technology will back a special deal between India and the United States.

The backing of the Nuclear Suppliers Group is crucial to the historic deal between India and the US, struck last year and paving the way for a potential turnaround in Australia's nuclear supply policy.

India has been lobbying Australia to change its policy which prevents the sale of uranium to the subcontinent because it's not a member of the nuclear non proliferation treaty (NPT).

Australia has faced pressure from Washington and New Delhi to alter its line after the US struck a deal with India that fell outside the NPT.




In a landmark deal, the US agreed to share its technology and uranium in return for India agreeing to let 14 of its 22 reactors - those used for its civilian needs - to be opened to international inspections.

Mr Howard was on Thursday due to meet Indian officials who are reportedly seeking Australian support over the deal with the nuclear suppliers forum.

"It's likely we will support that agreement in the suppliers group," he told reporters.

"I'll have a discussion around that but so far as a change of policy is concerned, we haven't changed our policy.

"But I think I've indicated in the past that I wouldn't rule out a change."

Mr Howard said the government would only change its policy if it was completely satisfied that appropriate safeguards were in place when it was supplying uranium to another country.

"But that is a little premature because there are still aspects of the agreement between the Indians and the United States that need to be nailed down and I don't think we should run ahead of ourselves," he said.

"There's no pressing urgency in relation to this issue.

"We see India as a very responsible country. The relationship between India and Australia is growing. It's a very important relationship. They will be considerations that we will bear in mind but other considerations, of course, are safeguards.

"We would never agree to supply uranium to a country unless we were completely satisfied that appropriate and enforceable and effective safeguards existed."

 

[mmmmining]

Johny Howard, please say no to India, and US.

For India, signed the NPT first, we will sell you uranium. Just in case we are not bombed by the staff we exported.

To US, we are not the 51th States. You can compromise principles as always, we don't. I have no idea why India not sign the NPT. Everybody else does it, even Iran did it. Without NPT, India is free of inspection and monitoring, and can export and transfer the staff to any country, and anybody, include terrorist.

 

[Mousie]

Johny Howard, please say no to India, and US.

For India, signed the NPT first, we will sell you uranium. Just in case we are not bombed by the staff we exported.

To US, we are not the 51th States. You can compromise principles as always, we don't. I have no idea why India not sign the NPT. Everybody else does it, even Iran did it. Without NPT, India is free of inspection and monitoring, and can export and transfer the staff to any country, and anybody, include terrorist.

Yeah, it's a great way of maintaining high prices with ethical reasons; particularly when Australia is one of the "big boys" in uranium.

We should be calling the shots, and not just be too eager to deal everywhere there's an invitation to deal. I fear the current Federal Liberal govt maybe selling itself a bit too cheaply at times with no regard to potential cartels being set up by much more astute govts when it comes to THEIR resources, like OPEC and oil in the past half-century. God knows which minerals would be next.

 

[YOUNG_TRADER]

Johny Howard, please say no to India, and US.

For India, signed the NPT first, we will sell you uranium. Just in case we are not bombed by the staff we exported.

To US, we are not the 51th States. You can compromise principles as always, we don't. I have no idea why India not sign the NPT. Everybody else does it, even Iran did it. Without NPT, India is free of inspection and monitoring, and can export and transfer the staff to any country, and anybody, include terrorist.

Mate I'd much rather send it over to India than IRAN!!!!!

Also just because Iran signed the MPT do they allow inspectors into their reactors? ? ?


India hoping to buy Aussie uranium
Thursday Mar 29 19:55 AEST
India appears to be making progress, albeit slowly, on getting Canberra to agree to its demands to buy Australian uranium.

And if Labor were to win power, it could get a leg up in its attempts to become a member of an exclusive Asia Pacific club.

Prime Minister John Howard on Thursday met former Indian foreign secretary Shyum Saran, India's chief negotiator lobbying to get support for a deal the subcontinent has struck with America.

The backing of the Nuclear Suppliers Group is crucial to the historic deal between India and the US, struck last year and paving the way for a potential turnaround in Australia's nuclear supply policy.




Mr Howard expects the powerful group will back the deal when it meets next month.

"It's likely we will support that agreement in the suppliers group," he told reporters.

"I'll have a discussion around that but so far as a change of policy is concerned, we haven't changed our policy.

"But I think I've indicated in the past that I wouldn't rule out a change."

India has also been lobbying Australia to change its policy which prevents the sale of uranium to the subcontinent because it's not a member of the nuclear non proliferation treaty (NPT).

Australia has faced pressure from Washington and New Delhi to alter its line after the US struck a deal with India that fell outside the NPT.

In a landmark deal, the US agreed to share its technology and uranium in return for India agreeing to let 14 of its 22 reactors - those used for its civilian needs - to be opened to international inspections.

Mr Howard said the government would only change its policy on the NPT if it was completely satisfied that appropriate safeguards were in place when it was supplying uranium to another country.

"But that is a little premature because there are still aspects of the agreement between the Indians and the United States that need to be nailed down and I don't think we should run ahead of ourselves," he said.

"There's no pressing urgency in relation to this issue.

"We see India as a very responsible country. The relationship between India and Australia is growing. It's a very important relationship. They will be considerations that we will bear in mind but other considerations, of course, are safeguards.

"We would never agree to supply uranium to a country unless we were completely satisfied that appropriate and enforceable and effective safeguards existed."

India was also Thursday given a boost in its efforts to join the regional Asia Pacific Economic Cooperation (APEC) group.

Australia will host the APEC leaders' summit in Sydney in September.

Labor added its voice to calls for India to be allowed to join APEC, which will this year decide whether to open up its club to new members.

"John Howard should use Australia hosting APEC this year to lobby other members to bring India into APEC," opposition trade spokesman Simon Crean said.

"The inclusion of India will make APEC stronger by including the world's fourth largest economy in the forum ensuring it remains the premier economic grouping in the region."