Uranium North Resources has been awarded three exploration permits covering two separate properties with previously identified widespread uranium mineralization in the Thelon Region of Nunavut. These highly desirable properties are 100% Uranium North-owned and cover 132,000 acres.
The Hawk and Yathkyed Lake properties are located approximately 300 kilometres south of Areva Resources Canada Inc.'s 147-million-tonne Kiggavik uranium deposit, which highlights the uranium potential of this largely unexplored region. Hawk Lake is east of and contiguous to Uranium North's Baker Lake property, while Yathkyed Lake is located 120 kilometres east of South Baker.
"This is one of the last remaining areas in Canada where a company can still be the first to acquire such large tracts of land in an emerging uranium district," says Mark Kolebaba, President and CEO of Uranium North Resources. "Strategic uranium land acquisition forms a pillar of our business strategy and is an important value driver for the Company."
Mineralization on the Hawk and Yathkyed Lake properties was identified in the late 1970's prior to the worldwide collapse in uranium price in the early 1980's. The Company believes development of the property was discontinued in conjunction with this collapse leaving the properties under explored.
complete this report click here
Tuesday, February 27, 2007
Manson Creek Announces Black Lake Uranium Exploration Program
Manson Creek Resources Ltd. is pleased to unveil its exploration program for the Black Lake uranium project.
The Black Lake claim group is comprised of 5,484 hectares in northern Saskatchewan, located 30 kilometers east of Stony Rapids.
The project is located on the leading edge of the Athabasca Basin and is adjacent to a number of prominent regional shear/deformation zones. The bedrock on the claims is basement rock believed to have been unroofed during the last glacial period. This rock, until recently, was covered by the basal layers of the Athabasca Basin.
The Black Lake property represents an under explored uranium deposit model in Canada. The deposit style is best exemplified by the Rossing uranium mine in Namibia, which is the 5th largest uranium mine in the world and supplies 8% of the world's production. Rossing has just celebrated its 20th year of production.
The Black Lake properties cover numerous uranium occurrences within deformed pegmatites and granitoid intrusive rocks. The property has seen varying amounts of historical surface exploration, with the last round of work occurring in the 1970's. Mineralization generally consists of irregularly disseminated uraninite in deformed and folded radioactive pegmatite granites. Molybdenum is often an accessory mineral.
The mineralized zones have been reported to be of widths of one meter to greater than 10 meters and historical assays have reported values of 0.08% to greater than 1% U3O8.
The Black Lake project will see two phases of exploration in 2007. Beginning in May, there will be a geology and geophysical program which will set out the priority areas for the follow up diamond drilling phase.
Phase one, beginning in May, will consist of geological mapping, sampling, prospecting, and ground based radiometric geophysical surveys. This work will expand upon historical mineralized zones and delineate priority zones for diamond drilling.
Phase 2 will be comprised of a planned 2,000 m of diamond drilling, utilizing a helicopter portable drill rig. This work will test historic showings and new zones outlined in Phase one.
Manson Creek wishes to cordially invite you to the 2007 PDAC - The 75th Prospectors & Developers Association of Canada International Convention Manson Creek Resources Ltd. welcomes and invites you to join Regan Chernish, President and CEO in Booth 3307 at the Metro Toronto Convention Centre to learn more about Manson Creek.
During this event Manson Creek invites all brokers, fund managers and investment clubs to take this opportunity to meet with us to discuss our upcoming activities.
Show Location and Times:
Metro Toronto Convention Centre - North Building
255 Front Street West Toronto, ON, Canada M5V 2W6
Exhibit Hours
Sunday, March 04, 2007 10:00am to 5:30 pm
Monday, March 05, 2007 10:00 am to 5:30 pm
Tuesday, March 06, 2007 10:00 am to 5:30 pm
Wednesday, March 07, 2007 9:00 am to 12:00 pm
For more information visit www.pdac.ca, www.manson.ca or email inquiries@manson.ca
Regan Chernish, P. Geol., President and Director
All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding the potential extent of mineralization and reserves, exploration results and future plans and objectives of Manson Creek Resources Ltd. These risks and uncertainties include, but are not restricted to, the amount of geological data available, the uncertain reliability of drilling results and geophysical and geological data and the interpretation thereof and the need for adequate financing for future exploration and development efforts. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.
The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.
Contact:
Regan Chernish
Manson Creek Resources Ltd.
President and Director
(403) 233-0464
Website: www.manson.ca
Source: Manson Creek Resources Ltd.
The Black Lake claim group is comprised of 5,484 hectares in northern Saskatchewan, located 30 kilometers east of Stony Rapids.
The project is located on the leading edge of the Athabasca Basin and is adjacent to a number of prominent regional shear/deformation zones. The bedrock on the claims is basement rock believed to have been unroofed during the last glacial period. This rock, until recently, was covered by the basal layers of the Athabasca Basin.
The Black Lake property represents an under explored uranium deposit model in Canada. The deposit style is best exemplified by the Rossing uranium mine in Namibia, which is the 5th largest uranium mine in the world and supplies 8% of the world's production. Rossing has just celebrated its 20th year of production.
The Black Lake properties cover numerous uranium occurrences within deformed pegmatites and granitoid intrusive rocks. The property has seen varying amounts of historical surface exploration, with the last round of work occurring in the 1970's. Mineralization generally consists of irregularly disseminated uraninite in deformed and folded radioactive pegmatite granites. Molybdenum is often an accessory mineral.
The mineralized zones have been reported to be of widths of one meter to greater than 10 meters and historical assays have reported values of 0.08% to greater than 1% U3O8.
The Black Lake project will see two phases of exploration in 2007. Beginning in May, there will be a geology and geophysical program which will set out the priority areas for the follow up diamond drilling phase.
Phase one, beginning in May, will consist of geological mapping, sampling, prospecting, and ground based radiometric geophysical surveys. This work will expand upon historical mineralized zones and delineate priority zones for diamond drilling.
Phase 2 will be comprised of a planned 2,000 m of diamond drilling, utilizing a helicopter portable drill rig. This work will test historic showings and new zones outlined in Phase one.
Manson Creek wishes to cordially invite you to the 2007 PDAC - The 75th Prospectors & Developers Association of Canada International Convention Manson Creek Resources Ltd. welcomes and invites you to join Regan Chernish, President and CEO in Booth 3307 at the Metro Toronto Convention Centre to learn more about Manson Creek.
During this event Manson Creek invites all brokers, fund managers and investment clubs to take this opportunity to meet with us to discuss our upcoming activities.
Show Location and Times:
Metro Toronto Convention Centre - North Building
255 Front Street West Toronto, ON, Canada M5V 2W6
Exhibit Hours
Sunday, March 04, 2007 10:00am to 5:30 pm
Monday, March 05, 2007 10:00 am to 5:30 pm
Tuesday, March 06, 2007 10:00 am to 5:30 pm
Wednesday, March 07, 2007 9:00 am to 12:00 pm
For more information visit www.pdac.ca, www.manson.ca or email inquiries@manson.ca
Regan Chernish, P. Geol., President and Director
All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding the potential extent of mineralization and reserves, exploration results and future plans and objectives of Manson Creek Resources Ltd. These risks and uncertainties include, but are not restricted to, the amount of geological data available, the uncertain reliability of drilling results and geophysical and geological data and the interpretation thereof and the need for adequate financing for future exploration and development efforts. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.
The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.
Contact:
Regan Chernish
Manson Creek Resources Ltd.
President and Director
(403) 233-0464
Website: www.manson.ca
Source: Manson Creek Resources Ltd.
Nuclear safety agency cites UC for Los Alamos lab violations
The National Nuclear Security Administration proposed a $1.1 million civil penalty against the former manager of a nuclear weapons lab for safety violations that included a researcher spreading radiological contamination to two other states and workers inhaling radioactive substances.
The agency announced the notice of violation Monday against the University of California for infractions that occurred in 2005, when UC was the sole manager of Los Alamos National Laboratory.
The notice spells out 15 separate incidents that violated the Department of Energy's nuclear safety rules.
The incidents include a Los Alamos researcher opening a package of slightly enriched uranium nitride pellets. The package was contaminated with americium 241, a radioactive decay product of plutonium.
The researcher unloaded the pellets without the help of a radiological control technician, and he spread the contamination to his home and places he visited in Colorado and Kansas.
Another incident involved workers who inhaled radioactive substances.
In both cases, the contamination was limited by “good fortune” but had the potential to be significantly greater, acting NNSA director Thomas P. D'Agostino wrote in a Feb. 16 letter to lab director Michael Anastasio.
The notice also referred to a November 2005 inspection that exposed “long-standing” deficiencies in the lab's safety, health and environmental programs.
Since federal law exempted the non-profit university from financial liability at the time of the violations, the UC will not have to pay the fine. But the agency warned the lab's new management team – installed less than a year ago, in part to reverse years of security and safety problems – that those days are over.
“Due both to the recent contract change and changes in the civil penalty provisions of the Atomic Energy Act, future monetary civil penalties imposed ... as part of a notice of violation will no longer be waived,” D'Agostino wrote.
The lab is now managed by Los Alamos National Security LLC, which includes the university, Bechtel Corp., BWX Technologies Inc. and Washington Group International.
D'Agostino said he expects corrective actions to be one Anastasio's highest priorities as lab director.
UC spokesman Chris Harrington said in a statement Monday that the university has taken a number of steps to fix the problems outlined by the NNSA.
“The University of California takes safety and security issues very seriously as part of our commitment to managing the national laboratories,” Harrington said.
The notice of violation is the latest in a rash of criticism against the lab. Just last month, members of a House oversight committee threatened to strip the lab of its security responsibilities – or even shut it down – to correct security lapses.
source news : signonsandiego.com
The agency announced the notice of violation Monday against the University of California for infractions that occurred in 2005, when UC was the sole manager of Los Alamos National Laboratory.
The notice spells out 15 separate incidents that violated the Department of Energy's nuclear safety rules.
The incidents include a Los Alamos researcher opening a package of slightly enriched uranium nitride pellets. The package was contaminated with americium 241, a radioactive decay product of plutonium.
The researcher unloaded the pellets without the help of a radiological control technician, and he spread the contamination to his home and places he visited in Colorado and Kansas.
Another incident involved workers who inhaled radioactive substances.
In both cases, the contamination was limited by “good fortune” but had the potential to be significantly greater, acting NNSA director Thomas P. D'Agostino wrote in a Feb. 16 letter to lab director Michael Anastasio.
The notice also referred to a November 2005 inspection that exposed “long-standing” deficiencies in the lab's safety, health and environmental programs.
Since federal law exempted the non-profit university from financial liability at the time of the violations, the UC will not have to pay the fine. But the agency warned the lab's new management team – installed less than a year ago, in part to reverse years of security and safety problems – that those days are over.
“Due both to the recent contract change and changes in the civil penalty provisions of the Atomic Energy Act, future monetary civil penalties imposed ... as part of a notice of violation will no longer be waived,” D'Agostino wrote.
The lab is now managed by Los Alamos National Security LLC, which includes the university, Bechtel Corp., BWX Technologies Inc. and Washington Group International.
D'Agostino said he expects corrective actions to be one Anastasio's highest priorities as lab director.
UC spokesman Chris Harrington said in a statement Monday that the university has taken a number of steps to fix the problems outlined by the NNSA.
“The University of California takes safety and security issues very seriously as part of our commitment to managing the national laboratories,” Harrington said.
The notice of violation is the latest in a rash of criticism against the lab. Just last month, members of a House oversight committee threatened to strip the lab of its security responsibilities – or even shut it down – to correct security lapses.
source news : signonsandiego.com
Nations Work on Iran Nuclear Resolution
The five permanent Security Council members and Germany began work Monday on a new U.N. resolution to pressure Iran to suspend parts of its nuclear program, but said they were still committed to seeking a diplomatic solution.
The six nations, meeting in London, said they were seeking the best way to "re-engage" Tehran after it failed to respect a U.N. deadline to halt its uranium enrichment work. However, they said no decisions were made and more talks were needed.
State Department spokesman Sean McCormack, briefing reporters in Washington after the meeting, said the diplomats would hold a telephone conference Thursday, "at which time they hope to be able to hammer out the elements of a U.N. sanctions resolution."
However, sharp differences appear to remain between the tough U.S. position and what Russia and China, veto-holding council members with close ties to Iran, are willing to accept.
The U.N.'s nuclear watchdog confirmed last week that Iran had defied a Security Council order to freeze enrichment - a possible path to nuclear arms - expanding its program instead. Iran insists its only interest in the technology is for the production of fuel for nuclear power plants.
John Sawers, the British Foreign Office official who chaired the closed one-day meeting, issued a statement calling Monday's meeting a productive first step.
"We also considered how best to re-engage with Iran. We are all committed to seeking a negotiated solution," Sawers said.
The senior officials from Britain, the United States, France, Germany, Russia, China and the EU Secretariat discussed the possibility of imposing incremental restrictions on trade and arms for Iran, officials said.
Sanctions approved in December ban all countries from supplying Iran with materials and technology that could contribute to its nuclear and missile programs and froze the Iranian assets of 10 key companies and 12 individuals related to those programs.
Russia and China are likely to oppose strict economic sanctions or weapons bans. A travel ban was dropped from the initial resolution because of Moscow's opposition. Before the meeting Monday, a senior British diplomat said officials would examine options including whittling away at export credits made available to companies that trade with Iran.
"I expect the tortuous negotiations will continue and not result in any meaningful compromise anytime soon," said Ray Takeyh, a senior fellow at the Council on Foreign Relations, a U.S. think tank. "There is a fundamental disagreement about what kind of a threat and how much of a threat Iran poses."
McCormack said U.S. officials want to engage in negotiations with Iran. "But we are equally committed to sending the message to the Iranian government: Should they chose not to proceed down that pathway, then there will be consequences," he said.
Iran's top nuclear negotiator on Monday said if the United States made a formal request for talks, Iran would respond positively but would not accept conditions placed on such discussions, the country's official news agency reported.
The Islamic Republic News Agency said Ali Larijani was responding to Secretary of State Condoleezza Rice's comments Sunday that the U.S. would hold direct talks with Iran if it suspended its nuclear program.
Iran has repeatedly said it would not freeze enrichment as a precondition to holding talks on its nuclear program. "Setting conditions means indicating the outcome of talks prior to holding them. Therefore, such a policy has not been answerable," IRNA quoted Larijani as saying.
In Washington, State Department deputy spokesman Tom Casey said the offer has been transmitted several times to Larijani by Javier Solana, foreign policy chief of the European Union.
"As the secretary reiterated on Sunday, at any time Iran suspends enrichment, she is ready to sit down" with Larijani and the others involved in the situation, he said.
source news : kiplingerforecasts.com
The six nations, meeting in London, said they were seeking the best way to "re-engage" Tehran after it failed to respect a U.N. deadline to halt its uranium enrichment work. However, they said no decisions were made and more talks were needed.
State Department spokesman Sean McCormack, briefing reporters in Washington after the meeting, said the diplomats would hold a telephone conference Thursday, "at which time they hope to be able to hammer out the elements of a U.N. sanctions resolution."
However, sharp differences appear to remain between the tough U.S. position and what Russia and China, veto-holding council members with close ties to Iran, are willing to accept.
The U.N.'s nuclear watchdog confirmed last week that Iran had defied a Security Council order to freeze enrichment - a possible path to nuclear arms - expanding its program instead. Iran insists its only interest in the technology is for the production of fuel for nuclear power plants.
John Sawers, the British Foreign Office official who chaired the closed one-day meeting, issued a statement calling Monday's meeting a productive first step.
"We also considered how best to re-engage with Iran. We are all committed to seeking a negotiated solution," Sawers said.
The senior officials from Britain, the United States, France, Germany, Russia, China and the EU Secretariat discussed the possibility of imposing incremental restrictions on trade and arms for Iran, officials said.
Sanctions approved in December ban all countries from supplying Iran with materials and technology that could contribute to its nuclear and missile programs and froze the Iranian assets of 10 key companies and 12 individuals related to those programs.
Russia and China are likely to oppose strict economic sanctions or weapons bans. A travel ban was dropped from the initial resolution because of Moscow's opposition. Before the meeting Monday, a senior British diplomat said officials would examine options including whittling away at export credits made available to companies that trade with Iran.
"I expect the tortuous negotiations will continue and not result in any meaningful compromise anytime soon," said Ray Takeyh, a senior fellow at the Council on Foreign Relations, a U.S. think tank. "There is a fundamental disagreement about what kind of a threat and how much of a threat Iran poses."
McCormack said U.S. officials want to engage in negotiations with Iran. "But we are equally committed to sending the message to the Iranian government: Should they chose not to proceed down that pathway, then there will be consequences," he said.
Iran's top nuclear negotiator on Monday said if the United States made a formal request for talks, Iran would respond positively but would not accept conditions placed on such discussions, the country's official news agency reported.
The Islamic Republic News Agency said Ali Larijani was responding to Secretary of State Condoleezza Rice's comments Sunday that the U.S. would hold direct talks with Iran if it suspended its nuclear program.
Iran has repeatedly said it would not freeze enrichment as a precondition to holding talks on its nuclear program. "Setting conditions means indicating the outcome of talks prior to holding them. Therefore, such a policy has not been answerable," IRNA quoted Larijani as saying.
In Washington, State Department deputy spokesman Tom Casey said the offer has been transmitted several times to Larijani by Javier Solana, foreign policy chief of the European Union.
"As the secretary reiterated on Sunday, at any time Iran suspends enrichment, she is ready to sit down" with Larijani and the others involved in the situation, he said.
source news : kiplingerforecasts.com
Denison To Acquire U.S. Uranium Deposits From AREVA
Denison Mines Corp. (DML.T) has signed an agreement with Pathfinder Mines Corp., a subsidiary of AREVA (427583.FR), to acquire five uranium deposits in the Arizona Strip district in northeastern Arizona for $5.5 million in cash plus a 1% royalty.
Denison said the historical resource estimates at the Pathfinder deposits total 1.3 million tons at an average grade of 0.28% U3O8, containing an estimated 7.1 million pounds of U3O8.
The deposits are within hauling distance of Denison's White Mesa Mill and near its Arizona Strip mines, "providing a synergistic opportunity to significantly increase production in the near term from this mining district," it said.
In conjunction with the closing of property acquisition, Denison will commit to sell to AREVA up to 6.5 million pounds of production from the company's White Mesa Mill. The sales agreement will provide for a price equal to 95% of the month end long-term prices for U3O8 published the month prior to delivery with a floor price of $45 a pound. Both parties will have the option to suspend deliveries under certain conditions.
Denison, Toronto, is an intermediate uranium producer.
-Carolyn King; 416-306-2100; AskNewswires@dowjones.com
Copyright (c) 2007 Dow Jones & Company, Inc.
Denison said the historical resource estimates at the Pathfinder deposits total 1.3 million tons at an average grade of 0.28% U3O8, containing an estimated 7.1 million pounds of U3O8.
The deposits are within hauling distance of Denison's White Mesa Mill and near its Arizona Strip mines, "providing a synergistic opportunity to significantly increase production in the near term from this mining district," it said.
In conjunction with the closing of property acquisition, Denison will commit to sell to AREVA up to 6.5 million pounds of production from the company's White Mesa Mill. The sales agreement will provide for a price equal to 95% of the month end long-term prices for U3O8 published the month prior to delivery with a floor price of $45 a pound. Both parties will have the option to suspend deliveries under certain conditions.
Denison, Toronto, is an intermediate uranium producer.
-Carolyn King; 416-306-2100; AskNewswires@dowjones.com
Copyright (c) 2007 Dow Jones & Company, Inc.
Gold and Uranium – A European Perspective
Last week was a very interesting one here in Ajijic, Mexico, land of tacos, tortillas and tequila. We had representatives of a private European bank here visiting current clients, making a presentation of their organization and recruiting new clients/investors for their bank.
Our village is always on their list of locations to visit because of the large numbers of Americans and Canadians living in this community. Most investors are advised of the need to get some monies outside the U.S. and Canada so this was a great opportunity to see what this European bank had to say.
The bank would give us U.S. and Canadian investors an ‘offshore’ bank thus transferring some funds outside the control of the U.S. and Canadian authorities. Investors are offered many advantages with this organization as we could do the following:
• Have our ‘dollars’ denominated in over 15 different currencies
• Make use of the Japanese Yen carry trade
• Invest in many of the popular mutual funds
• Buy stocks, futures and options on futures
This flexibility sounded great and the only downside was that all of our orders would have to be placed with a telephone call and not online. This could delay our trades for some of us and also here in the Central Time Zone we have a 7 hour difference meaning we may be placing orders at 1 or 2 in the morning.
Obviously, I have strayed from the title of this article but I wanted you to understand one of the reasons for me attending this investment presentation. The other reason for attending was to get their views on the U.S. Dollar, gold, mining stocks, uranium and uranium stocks from their European perspective. Not only did I attend their 2 hour presentation but I had the opportunity to spend a wonderful 3 hour Saturday afternoon with these representatives with great conversation and asking many questions on the following subjects:
• U.S. Dollar ---------- Basing their views of the U.S. dollar using technical analysis, they see the U.S. dollar climbing HIGHER in the coming days, weeks and perhaps months even though they agree from a fundamental view, the dollar should decline long term.
• Gold & Silver -- Gold and silver will continue up even with the rising U.S. dollar.
• World Liquidity ---- The massive liquidity in the world’s financial system will continue, probably driving the indices higher in most countries.
• Mining stocks ---- They currently have little or no knowledge thereof (leaving me almost speechless).
• Uranium & Uranium stocks —They currently have little or no knowledge of uranium or investing in the uranium shares and commented that “this seems very risky”.
source news : news.goldseek.com
Our village is always on their list of locations to visit because of the large numbers of Americans and Canadians living in this community. Most investors are advised of the need to get some monies outside the U.S. and Canada so this was a great opportunity to see what this European bank had to say.
The bank would give us U.S. and Canadian investors an ‘offshore’ bank thus transferring some funds outside the control of the U.S. and Canadian authorities. Investors are offered many advantages with this organization as we could do the following:
• Have our ‘dollars’ denominated in over 15 different currencies
• Make use of the Japanese Yen carry trade
• Invest in many of the popular mutual funds
• Buy stocks, futures and options on futures
This flexibility sounded great and the only downside was that all of our orders would have to be placed with a telephone call and not online. This could delay our trades for some of us and also here in the Central Time Zone we have a 7 hour difference meaning we may be placing orders at 1 or 2 in the morning.
Obviously, I have strayed from the title of this article but I wanted you to understand one of the reasons for me attending this investment presentation. The other reason for attending was to get their views on the U.S. Dollar, gold, mining stocks, uranium and uranium stocks from their European perspective. Not only did I attend their 2 hour presentation but I had the opportunity to spend a wonderful 3 hour Saturday afternoon with these representatives with great conversation and asking many questions on the following subjects:
• U.S. Dollar ---------- Basing their views of the U.S. dollar using technical analysis, they see the U.S. dollar climbing HIGHER in the coming days, weeks and perhaps months even though they agree from a fundamental view, the dollar should decline long term.
• Gold & Silver -- Gold and silver will continue up even with the rising U.S. dollar.
• World Liquidity ---- The massive liquidity in the world’s financial system will continue, probably driving the indices higher in most countries.
• Mining stocks ---- They currently have little or no knowledge thereof (leaving me almost speechless).
• Uranium & Uranium stocks —They currently have little or no knowledge of uranium or investing in the uranium shares and commented that “this seems very risky”.
source news : news.goldseek.com
Iran Won't Halt Uranium Program
Iran's foreign minister reiterated Tuesday that his country would never again suspend uranium enrichment, a move the United States says is essential for Washington-Tehran negotiations.
Foreign Minister Manouchehr Mottaki was speaking a day after the U.S., the four other permanent members of the U.N. Security Council and Germany considered measures that could include further sanctions on Iran for refusing to suspend enrichment. "Demands that Iran halt enrichment are illegal and illegitimate and based on an incorrect political strategy. This (suspension) will never materialize," the official Islamic Republic News Agency quoted Mottaki as telling a conference in the capital Tehran.
Mottaki added, however, that Iran is prepared to negotiate about its nuclear program "without any preconditions."
Iran suspended enrichment activities in 2003 to encourage negotiations with Britain, France and Germany but resumed the process in January 2006 when it concluded that the talks were leading nowhere.
The Security Council imposed limited sanctions on Iran in December over Tehran's refusal to suspend enrichment and gave it a 60-day grace period to stop. That deadline expired last Wednesday.
The United States and some of its allies object to Iran's enrichment process because they believe Tehran is secretly trying to build nuclear weapons. Enriched to a low level, uranium is used to produce nuclear fuel but highly enriched uranium can be used in an atomic bomb. Iran says its enrichment is solely so that it can be self-sufficient in fuel for its Russian-built nuclear reactor.
Secretary of State Condoleezza Rice reiterated last weekend that she would negotiate with Mottaki as soon as Iran suspends enrichment.
British Foreign Secretary Margaret Beckett said Iran had been offered "almost everything any country that wanted modern civil nuclear power could ask for" in order to persuade it to enter negotiations, but had made no serious response. "No one wants to implement sanctions against Iran. No one wishes to have conflict or is preparing for conflict with Iran," Beckett said in an address Tuesday to a diplomat training college in the Pakistani capital, Islamabad.
She said the onus was on Iran to rethink its position. "While the door remains open to negotiations for Iran, someone has to walk through that door," she said.
But former chief U.N. weapons inspector Hans Blix criticized the U.S. precondition on Monday as "humiliating" for Iran. "This is in a way like telling a child, first you will behave and thereafter you will be given your rewards," Blix said at a conference on international security in New York.
And a former U.S. State Department official, Richard Haass, who now heads the Council on Foreign Relations, said the call for stopping enrichment should not be allowed to "torpedo diplomacy."
But Haass also criticized Iran for defying the Security Council.
Associated Press Writer.
Foreign Minister Manouchehr Mottaki was speaking a day after the U.S., the four other permanent members of the U.N. Security Council and Germany considered measures that could include further sanctions on Iran for refusing to suspend enrichment. "Demands that Iran halt enrichment are illegal and illegitimate and based on an incorrect political strategy. This (suspension) will never materialize," the official Islamic Republic News Agency quoted Mottaki as telling a conference in the capital Tehran.
Mottaki added, however, that Iran is prepared to negotiate about its nuclear program "without any preconditions."
Iran suspended enrichment activities in 2003 to encourage negotiations with Britain, France and Germany but resumed the process in January 2006 when it concluded that the talks were leading nowhere.
The Security Council imposed limited sanctions on Iran in December over Tehran's refusal to suspend enrichment and gave it a 60-day grace period to stop. That deadline expired last Wednesday.
The United States and some of its allies object to Iran's enrichment process because they believe Tehran is secretly trying to build nuclear weapons. Enriched to a low level, uranium is used to produce nuclear fuel but highly enriched uranium can be used in an atomic bomb. Iran says its enrichment is solely so that it can be self-sufficient in fuel for its Russian-built nuclear reactor.
Secretary of State Condoleezza Rice reiterated last weekend that she would negotiate with Mottaki as soon as Iran suspends enrichment.
British Foreign Secretary Margaret Beckett said Iran had been offered "almost everything any country that wanted modern civil nuclear power could ask for" in order to persuade it to enter negotiations, but had made no serious response. "No one wants to implement sanctions against Iran. No one wishes to have conflict or is preparing for conflict with Iran," Beckett said in an address Tuesday to a diplomat training college in the Pakistani capital, Islamabad.
She said the onus was on Iran to rethink its position. "While the door remains open to negotiations for Iran, someone has to walk through that door," she said.
But former chief U.N. weapons inspector Hans Blix criticized the U.S. precondition on Monday as "humiliating" for Iran. "This is in a way like telling a child, first you will behave and thereafter you will be given your rewards," Blix said at a conference on international security in New York.
And a former U.S. State Department official, Richard Haass, who now heads the Council on Foreign Relations, said the call for stopping enrichment should not be allowed to "torpedo diplomacy."
But Haass also criticized Iran for defying the Security Council.
Associated Press Writer.
High uranium prices sparks bid for Summit
Paladin Resources, an Australian uranium explorer, offered Tuesday to buy Summit Resources for about 997 million Australian dollars, or $791 million, in shares as it seeks full ownership of a deposit of the nuclear fuel in the Australian state of Queensland.
Summit shareholders would receive one Paladin share for every 2.04 Summit shares, Paladin said in a statement. That implies a price of 5.05 dollars per Summit share based on closing prices Monday, a 26 percent premium. Summit shares surged as much as 28 percent Tuesday to 5.11 dollars.
Uranium prices have more than doubled in the past 12 months amid rising demand for the fuel for power generation, helping to almost triple Paladin's share price in the last 12 months. Australia has about 40 percent of the world's known uranium reserves, yet contributes 23 percent of output due to a ban on new mines by the Labour Party, which controls all state governments. Labour is expected to overturn the ban in April, Deutsche Bank said Feb. 21.
"Summit has a very large uranium resource base, one of the biggest undeveloped resource bases in Australia, so from that point of view it's attractive," said Gavin Wendt, senior resources analyst at Fat Prophets Funds Management. "Paladin is looking five to 10 years down the track and is quite prepared to play a waiting game and hope that the situation will change and mining approvals will be granted."
Summit, which is being advised by Gresham Advisory Partners, described Paladin's offer as "hostile" and advised shareholders to take no action while the board considers the bid.
"This offer is not unexpected and, in my opinion, is designed to capture value that will otherwise flow to Summit's shareholders," Summit's managing director, Alan Eggers, said in the statement. "We will be communicating more fully about this with our shareholders shortly."
Summit controls a uranium reserve of more than 34 millions kilograms, or 75 million pounds, at Mount Isa in Queensland. This is among the largest reserve of companies in Australia, not including than Rio Tinto Group and BHP Billiton, Summit said on its Web site. Its most advanced project is the Valhalla uranium deposit near Mount Isa, which is operated and 50 percent-owned by Summit, while Paladin owns the rest.
Paladin stock has made a return of 34,085 percent in the past five years, according to data compiled by Bloomberg.
Paladin's bid adds to recent acquisitions in the industry, including SXR Uranium One's accord to buy UrAsia Energy for $3.1 billion, while last year Paladin bought Valhalla Uranium and Mega Uranium of Canada bought Redport. Areva, the world's biggest maker of nuclear power plants, said this month it wants to buy Australian deposits to raise its reserves.
Paladin last week approved development of a $185 million uranium mine in Malawi, and earlier this year started its first uranium production at the Langer Heinrich mine in Namibia. It secured the stake in the Valhalla/Skal project through a 174 million dollar stock-based purchase of Valhalla completed in November.
"Summit has an attractive portfolio of Australian uranium deposits that will complement Paladin's extensive asset base," Paladin's managing director, John Borshoff, said in a statement made to the Australian Stock Exchange.
Production may start up at the Valhalla/Skal deposits in 2012, assuming the Queensland government reverses its policy stance and permits uranium mining in the state, Borshoff said.
Uranium spot prices reached $85 a pound as of Feb. 19, up from $38.50 a year ago, according to the Ux Consulting. The price rise was partly prompted by delays to Cameco's Cigar Lake project in Saskatchewan due to flooding. Prices may reach $95 a pound by 2008, up from an earlier forecast of $65, ABN AMRO Holdings said in a report Friday.
"The significant number of new entrants in the uranium exploration space, the ongoing strength in uranium prices and the five-year-plus lead time in taking a project from exploration to production are likely to lead to ongoing rationalization, and we expect some ongoing excitement in the sector," ABN analysts led by Warren Edney said in the report.
Paladin's bid for Summit "makes sense and adds value," Edney said Tuesday. The offer looks "cheap" in terms of dollars per pound of uranium resource, compared with SXR's agreed bid for UrAsia, which is about twice as much on that measure, he said.
source news : iht.com
Summit shareholders would receive one Paladin share for every 2.04 Summit shares, Paladin said in a statement. That implies a price of 5.05 dollars per Summit share based on closing prices Monday, a 26 percent premium. Summit shares surged as much as 28 percent Tuesday to 5.11 dollars.
Uranium prices have more than doubled in the past 12 months amid rising demand for the fuel for power generation, helping to almost triple Paladin's share price in the last 12 months. Australia has about 40 percent of the world's known uranium reserves, yet contributes 23 percent of output due to a ban on new mines by the Labour Party, which controls all state governments. Labour is expected to overturn the ban in April, Deutsche Bank said Feb. 21.
"Summit has a very large uranium resource base, one of the biggest undeveloped resource bases in Australia, so from that point of view it's attractive," said Gavin Wendt, senior resources analyst at Fat Prophets Funds Management. "Paladin is looking five to 10 years down the track and is quite prepared to play a waiting game and hope that the situation will change and mining approvals will be granted."
Summit, which is being advised by Gresham Advisory Partners, described Paladin's offer as "hostile" and advised shareholders to take no action while the board considers the bid.
"This offer is not unexpected and, in my opinion, is designed to capture value that will otherwise flow to Summit's shareholders," Summit's managing director, Alan Eggers, said in the statement. "We will be communicating more fully about this with our shareholders shortly."
Summit controls a uranium reserve of more than 34 millions kilograms, or 75 million pounds, at Mount Isa in Queensland. This is among the largest reserve of companies in Australia, not including than Rio Tinto Group and BHP Billiton, Summit said on its Web site. Its most advanced project is the Valhalla uranium deposit near Mount Isa, which is operated and 50 percent-owned by Summit, while Paladin owns the rest.
Paladin stock has made a return of 34,085 percent in the past five years, according to data compiled by Bloomberg.
Paladin's bid adds to recent acquisitions in the industry, including SXR Uranium One's accord to buy UrAsia Energy for $3.1 billion, while last year Paladin bought Valhalla Uranium and Mega Uranium of Canada bought Redport. Areva, the world's biggest maker of nuclear power plants, said this month it wants to buy Australian deposits to raise its reserves.
Paladin last week approved development of a $185 million uranium mine in Malawi, and earlier this year started its first uranium production at the Langer Heinrich mine in Namibia. It secured the stake in the Valhalla/Skal project through a 174 million dollar stock-based purchase of Valhalla completed in November.
"Summit has an attractive portfolio of Australian uranium deposits that will complement Paladin's extensive asset base," Paladin's managing director, John Borshoff, said in a statement made to the Australian Stock Exchange.
Production may start up at the Valhalla/Skal deposits in 2012, assuming the Queensland government reverses its policy stance and permits uranium mining in the state, Borshoff said.
Uranium spot prices reached $85 a pound as of Feb. 19, up from $38.50 a year ago, according to the Ux Consulting. The price rise was partly prompted by delays to Cameco's Cigar Lake project in Saskatchewan due to flooding. Prices may reach $95 a pound by 2008, up from an earlier forecast of $65, ABN AMRO Holdings said in a report Friday.
"The significant number of new entrants in the uranium exploration space, the ongoing strength in uranium prices and the five-year-plus lead time in taking a project from exploration to production are likely to lead to ongoing rationalization, and we expect some ongoing excitement in the sector," ABN analysts led by Warren Edney said in the report.
Paladin's bid for Summit "makes sense and adds value," Edney said Tuesday. The offer looks "cheap" in terms of dollars per pound of uranium resource, compared with SXR's agreed bid for UrAsia, which is about twice as much on that measure, he said.
source news : iht.com
Paladin Bids A$969 Million for Summit to Get Uranium (Update6)
Paladin Resources Ltd., whose stock is the world's best performer the past five years, offered to buy rival uranium explorer Summit Resource Ltd. for A$969 million ($770 million) to increase its Australian reserves.
Summit shareholders would receive one Paladin share for every 2.04 Summit shares they hold, the Perth-based company said today in a statement. That implies a price of A$4.91 per Summit share based on today's closing price, a 23 percent premium to Summit's close yesterday. Summit shares today jumped to A$5.12.
Companies including Areva SA, the world's biggest maker of nuclear power plants, are seeking supplies of uranium in Australia, a country with 40 percent of the world's reserves, as demand from power generators increases. Prime Minister John Howard in December urged Australia's state governments to end a ban on developing more mines, which has hampered companies such as Rio Tinto Group.
``Summit has a very large uranium resource base, one of the biggest undeveloped resource bases in Australia, so from that point of view it's attractive,'' said Gavin Wendt, senior resources analyst at Fat Prophets Funds Management. ``Paladin is looking five to 10 years down the track and is quite prepared to play a waiting game and hope that the situation will change and mining approvals will be granted.''
`Hostile' Offer
Summit, which is being advised by Gresham Advisory Partners, described Paladin's offer as ``hostile'' and advised shareholders to take no action while the board considers the bid.
``This offer is not unexpected and, in my opinion, is designed to capture value that will otherwise flow to Summit's shareholders,'' Summit Managing Director Alan Eggers said in the statement. ``We will be communicating more fully about this with our shareholders shortly.''
Summit, based in Perth, controls a uranium resource of more than 75 million pounds at Mt. Isa in Queensland, the largest of any company in Australia other than Rio Tinto Group and BHP Billiton., the company says on its Web site. Its most advanced project is the Valhalla uranium deposit near Mt. Isa in Queensland, which is operated and 50 percent-owned by Summit, while Paladin owns the rest.
Paladin's bid follows SXR Uranium One Inc.'s accord to buy UrAsia Energy Ltd. or $3.1 billion, while last year Canada's Mega Uranium Ltd. bought Redport Ltd. Uranium prices more than doubled in the past 12 months amid rising demand for the fuel for power generation, helping to almost triple Paladin's share price over the same period.
Paladin Shares
Shares in Paladin, the best performer in the Morgan Stanley Capital International World Index over the past five years, today fell 29 cents, or 2.8 percent, to A$10.01. Paladin is being advised by Azure Capital Partners.
Paladin stock has made a return of 34,085 percent in the past five years, according to data compiled by Bloomberg.
Shares in Perth-based Summit, which have surged more than sixfold in the past 12 months, gained A$1.12, or 28 percent, on the exchange.
Paladin last week approved development of a $185 million uranium mine in Malawi, and earlier this year started its first uranium production at the Langer Heinrich mine in Namibia. It secured the stake in the Valhalla/Skal project through a A$174 million stock-based purchase of Valhalla completed in November.
``Summit has an attractive portfolio of Australian uranium deposits that will complement Paladin's extensive asset base,'' Paladin Managing Director John Borshoff said in the statement.
Production may start up at the Valhalla/Skal deposits in 2012, assuming the Queensland government reverses its policy stance and permits uranium mining in the state, Borshoff said.
Spot Prices
Uranium spot prices reached $85 a pound as of Feb. 19, up from $38.50 a year ago, according to the Ux Consulting Co. The price rise was partly prompted by delays to Cameco Corp.'s Cigar Lake project in Saskatchewan, Canada, due to flooding.
Prices may reach $95 a pound by 2008, up from an earlier forecast of $65, ABN Amro Holdings NV said in a Feb. 23 report.
``The significant number of new entrants in the uranium exploration space, the ongoing strength in uranium prices, and the five-year-plus lead time in taking a project from exploration to production are likely to lead to ongoing rationalization, and we expect some ongoing excitement in the sector,'' ABN analysts led by Warren Edney said in the report.
Paladin's bid for Summit ``makes sense and adds value,'' Edney said today. The offer looks ``cheap'' in terms of dollars per pound of uranium resource, compared with SXR's agreed bid for UrAsia, which is about twice as much on that measure, he said.
Australia's eight state and territory governments are controlled by the Labor Party, which is in opposition at a federal level. New federal leader Kevin Rudd favors scrapping the party's policy prohibiting any more than the existing three uranium mines, while other leaders, such as Western Australia Premier Alan Carpenter, remain firmly opposed to ending the ban.
Labor is due to hold a conference in April, where a position on uranium will be decided. That will come before the state and territory leaders will meet Howard during a twice-yearly Council of Australian Governments meeting in Canberra.
To contact the reporter on this story: Angela Macdonald-Smith in Sydney at amacdonaldsm@bloomberg.net .
Summit shareholders would receive one Paladin share for every 2.04 Summit shares they hold, the Perth-based company said today in a statement. That implies a price of A$4.91 per Summit share based on today's closing price, a 23 percent premium to Summit's close yesterday. Summit shares today jumped to A$5.12.
Companies including Areva SA, the world's biggest maker of nuclear power plants, are seeking supplies of uranium in Australia, a country with 40 percent of the world's reserves, as demand from power generators increases. Prime Minister John Howard in December urged Australia's state governments to end a ban on developing more mines, which has hampered companies such as Rio Tinto Group.
``Summit has a very large uranium resource base, one of the biggest undeveloped resource bases in Australia, so from that point of view it's attractive,'' said Gavin Wendt, senior resources analyst at Fat Prophets Funds Management. ``Paladin is looking five to 10 years down the track and is quite prepared to play a waiting game and hope that the situation will change and mining approvals will be granted.''
`Hostile' Offer
Summit, which is being advised by Gresham Advisory Partners, described Paladin's offer as ``hostile'' and advised shareholders to take no action while the board considers the bid.
``This offer is not unexpected and, in my opinion, is designed to capture value that will otherwise flow to Summit's shareholders,'' Summit Managing Director Alan Eggers said in the statement. ``We will be communicating more fully about this with our shareholders shortly.''
Summit, based in Perth, controls a uranium resource of more than 75 million pounds at Mt. Isa in Queensland, the largest of any company in Australia other than Rio Tinto Group and BHP Billiton., the company says on its Web site. Its most advanced project is the Valhalla uranium deposit near Mt. Isa in Queensland, which is operated and 50 percent-owned by Summit, while Paladin owns the rest.
Paladin's bid follows SXR Uranium One Inc.'s accord to buy UrAsia Energy Ltd. or $3.1 billion, while last year Canada's Mega Uranium Ltd. bought Redport Ltd. Uranium prices more than doubled in the past 12 months amid rising demand for the fuel for power generation, helping to almost triple Paladin's share price over the same period.
Paladin Shares
Shares in Paladin, the best performer in the Morgan Stanley Capital International World Index over the past five years, today fell 29 cents, or 2.8 percent, to A$10.01. Paladin is being advised by Azure Capital Partners.
Paladin stock has made a return of 34,085 percent in the past five years, according to data compiled by Bloomberg.
Shares in Perth-based Summit, which have surged more than sixfold in the past 12 months, gained A$1.12, or 28 percent, on the exchange.
Paladin last week approved development of a $185 million uranium mine in Malawi, and earlier this year started its first uranium production at the Langer Heinrich mine in Namibia. It secured the stake in the Valhalla/Skal project through a A$174 million stock-based purchase of Valhalla completed in November.
``Summit has an attractive portfolio of Australian uranium deposits that will complement Paladin's extensive asset base,'' Paladin Managing Director John Borshoff said in the statement.
Production may start up at the Valhalla/Skal deposits in 2012, assuming the Queensland government reverses its policy stance and permits uranium mining in the state, Borshoff said.
Spot Prices
Uranium spot prices reached $85 a pound as of Feb. 19, up from $38.50 a year ago, according to the Ux Consulting Co. The price rise was partly prompted by delays to Cameco Corp.'s Cigar Lake project in Saskatchewan, Canada, due to flooding.
Prices may reach $95 a pound by 2008, up from an earlier forecast of $65, ABN Amro Holdings NV said in a Feb. 23 report.
``The significant number of new entrants in the uranium exploration space, the ongoing strength in uranium prices, and the five-year-plus lead time in taking a project from exploration to production are likely to lead to ongoing rationalization, and we expect some ongoing excitement in the sector,'' ABN analysts led by Warren Edney said in the report.
Paladin's bid for Summit ``makes sense and adds value,'' Edney said today. The offer looks ``cheap'' in terms of dollars per pound of uranium resource, compared with SXR's agreed bid for UrAsia, which is about twice as much on that measure, he said.
Australia's eight state and territory governments are controlled by the Labor Party, which is in opposition at a federal level. New federal leader Kevin Rudd favors scrapping the party's policy prohibiting any more than the existing three uranium mines, while other leaders, such as Western Australia Premier Alan Carpenter, remain firmly opposed to ending the ban.
Labor is due to hold a conference in April, where a position on uranium will be decided. That will come before the state and territory leaders will meet Howard during a twice-yearly Council of Australian Governments meeting in Canberra.
To contact the reporter on this story: Angela Macdonald-Smith in Sydney at amacdonaldsm@bloomberg.net .
Monday, February 26, 2007
Report results from Kipawa Gold-Uranium project located in north-western Quebec, Canada.
Aurizon Mines Ltd. (TSX:ARZ)(AMEX:AZK) is pleased to report results from the follow up till sampling program at its 100 percent owned Kipawa Gold-Uranium project located in north-western Quebec, Canada.
A follow up till sampling program was performed last fall with the objective of defining the four gold dispersion trains previously reported (News Release dated September 12, 2006). The high gold assays obtained in the first phase program have been confirmed and extended over the previously identified trends.
Results have been received on 125 heavy mineral concentrate samples. Thirty four (34) samples, or 27% returned grades over 0.1 grams of gold per tonne. Gold grains were identified in two till samples during the separation process, which returned 100 grams of gold per tonne and 8.6 grams of gold per tonne, respectively.
"Exploration results at Kipawa continue to exceed all expectations," said Martin Demers, Principal Exploration Geologist. "The gold exploration currently being performed by Aurizon is probably the first extensive field program in this area and the presence of fine native gold grains seen in till samples together with the associated high gold assays is very positive for the project," he added.
Kipawa Summary
The Kipawa area is located approximately 100 kilometres south of Rouyn-Noranda, Quebec and 100 kilometres northwest of North Bay, Ontario along the provincial border, halfway between the Elliot Lake uranium camp and the Abitibi gold belt, within the Grenville Front. The project is accessible via logging roads.
The Kipawa gold-uranium project was acquired on the basis of a Government regional stream sediment survey, which identified 0.01-0.02 grams of gold per tonne anomalies in the area. As a result of the encouraging results obtained from the first phase exploration program, Aurizon has now increased its land position to 1,277 mineral claims covering approximately 75,000 hectares.
A 100 metre spacing airborne magnetic and electromagnetic survey is underway in order to better define drill targets, which will be followed by overburden drilling in the second quarter of 2007.
Quality Control
Till samples were collected by Services Technominex of Bellecombe, Quebec, under the supervision of Remi Charbonneau, PhD., P.Geo., a glacial till specialist. Samples were processed for heavy mineral concentrates on Wilfley table under the supervision of Robert Gagnon, P.Geo. Gold assays were performed by ALS Chemex by ICP-MS (Inductively Coupled Plasma-Mass Spectroscopy) after aqua regia digestion on 50 gram samples. Laboratory quality control procedures included 10% duplicates, standard material and solution insertion on each batch proceeded.
As ICP-MS is usually an efficient method for assays below 0.1g/tAu, additional gold assays were performed on samples which returned higher grade. Re-assay of higher grades can provide a large variance, as this method can not return values greater than 100 grams per tonne. In addition the laboratory could not provide assays for 15 samples as there was not sufficient till material to proceed with appropriate quality control. All those samples are located within the northeast trend and are reported as NSS.
Till survey planning, implementation and the quality control program is supervised by Martin Demers, P. Geol., Principal Exploration Geologist for Aurizon, with the collaboration of Remi Charbonneau, P. Geol. and
Robert Gagnon, P.Geo, all appropriately qualified persons as defined by National Instrument 43-101.
Additional Information
One sketch is attached showing the Kipawa area. All other information previously released on the Kipawa Project is also available on the Aurizon website.
About Aurizon
Aurizon is an emerging gold producer with a growth strategy focused on developing its existing projects in the Abitibi region of north-western Quebec, one of the world's most prolific gold and base metal regions, and by increasing its asset base through accretive transactions. Aurizon shares trade on the Toronto Stock Exchange under the symbol "ARZ" and on the American Stock Exchange under the symbol "AZK". Additional information on Aurizon and its properties is available on Aurizon's website at http://www.aurizon.com.
A follow up till sampling program was performed last fall with the objective of defining the four gold dispersion trains previously reported (News Release dated September 12, 2006). The high gold assays obtained in the first phase program have been confirmed and extended over the previously identified trends.
Results have been received on 125 heavy mineral concentrate samples. Thirty four (34) samples, or 27% returned grades over 0.1 grams of gold per tonne. Gold grains were identified in two till samples during the separation process, which returned 100 grams of gold per tonne and 8.6 grams of gold per tonne, respectively.
"Exploration results at Kipawa continue to exceed all expectations," said Martin Demers, Principal Exploration Geologist. "The gold exploration currently being performed by Aurizon is probably the first extensive field program in this area and the presence of fine native gold grains seen in till samples together with the associated high gold assays is very positive for the project," he added.
Kipawa Summary
The Kipawa area is located approximately 100 kilometres south of Rouyn-Noranda, Quebec and 100 kilometres northwest of North Bay, Ontario along the provincial border, halfway between the Elliot Lake uranium camp and the Abitibi gold belt, within the Grenville Front. The project is accessible via logging roads.
The Kipawa gold-uranium project was acquired on the basis of a Government regional stream sediment survey, which identified 0.01-0.02 grams of gold per tonne anomalies in the area. As a result of the encouraging results obtained from the first phase exploration program, Aurizon has now increased its land position to 1,277 mineral claims covering approximately 75,000 hectares.
A 100 metre spacing airborne magnetic and electromagnetic survey is underway in order to better define drill targets, which will be followed by overburden drilling in the second quarter of 2007.
Quality Control
Till samples were collected by Services Technominex of Bellecombe, Quebec, under the supervision of Remi Charbonneau, PhD., P.Geo., a glacial till specialist. Samples were processed for heavy mineral concentrates on Wilfley table under the supervision of Robert Gagnon, P.Geo. Gold assays were performed by ALS Chemex by ICP-MS (Inductively Coupled Plasma-Mass Spectroscopy) after aqua regia digestion on 50 gram samples. Laboratory quality control procedures included 10% duplicates, standard material and solution insertion on each batch proceeded.
As ICP-MS is usually an efficient method for assays below 0.1g/tAu, additional gold assays were performed on samples which returned higher grade. Re-assay of higher grades can provide a large variance, as this method can not return values greater than 100 grams per tonne. In addition the laboratory could not provide assays for 15 samples as there was not sufficient till material to proceed with appropriate quality control. All those samples are located within the northeast trend and are reported as NSS.
Till survey planning, implementation and the quality control program is supervised by Martin Demers, P. Geol., Principal Exploration Geologist for Aurizon, with the collaboration of Remi Charbonneau, P. Geol. and
Robert Gagnon, P.Geo, all appropriately qualified persons as defined by National Instrument 43-101.
Additional Information
One sketch is attached showing the Kipawa area. All other information previously released on the Kipawa Project is also available on the Aurizon website.
About Aurizon
Aurizon is an emerging gold producer with a growth strategy focused on developing its existing projects in the Abitibi region of north-western Quebec, one of the world's most prolific gold and base metal regions, and by increasing its asset base through accretive transactions. Aurizon shares trade on the Toronto Stock Exchange under the symbol "ARZ" and on the American Stock Exchange under the symbol "AZK". Additional information on Aurizon and its properties is available on Aurizon's website at http://www.aurizon.com.
Zambezi Resources plans Australian IPO, dual listing
London-listed Zambezi Resources plans to undertake a dual listing on the Australian Stock Exchange (ASX) and an Australian initial public offering (IPO), to accelerate exploration and development of its quality portfolio of copper-gold projects in Zambia, the company said on Monday.
The announcement followed a series of developments within the company's portfolio, including an initial copper resource estimate for its flagship Cheowa project, which the company owns in joint venture with Glencore International.
The proposed dual listing was designed to broaden the company's international shareholder base through the introduction of Australian institutional and retail investors, increase liquidity in the stock, improve analyst coverage and raise additional funds to accelerate its exploration and development activities, Zambezi Resources said.
Zambezi has established a portfolio of copper-gold, gold and uranium projects in Zambia, covering relatively unexplored areas in the country.
The details of the Australian IPO and dual listing, including the size of the proposed capital raising, had not yet been finalised, but the company was compiling a prospectus and planned to list on the ASX by June.
Initial 26 000 t copper resource established at Cheowa
Following successful drilling programmes in 2006, Zambezi announced its maiden Zambian copper resource estimate for its Cheowa project, which is expected to become the cornerstone of the company's plans to develop a substantial copper-gold mining operation in Zambia.
The inferred resource estimate is 1,7-million tons, at 1,5% copper and 0,5 g/t gold for 26 000 tons of contained copper metal and 29 000 oz of contained gold (using a 0,5% copper-cut-off grade).
The company said the 2006 programme had confirmed the potential for a substantial copper-gold resource inventory to be established at Cheowa, making the project strategically important for the company and its joint-venture partner.
Glencore can earn a 51% interest in the Cheowa project by spending $10-million on exploration, with a minimum commitment of $4-million. Two new purpose-built track-mounted RC rigs and two man-portable low-environmental-impact DC rigs have been commissioned for the 2007 drilling campaign at Cheowa, which will enhance drilling productivity and economics, Zambezi Resources said.
The objective of this year's programme is to deliver on the theoretical target potential.
In addition to the Cheowa resource, Zambezi announced further results from its newly-announced copper discovery at Kangaluwi-Chisawa, which last year returned positive drilling results.
Elsewhere, Zambezi recently completed regional high-resolution, radiometric surveys at its Mulungushi and Mpande uranium projects, and also announced the results of preliminary processing of an ultra-high resolution helicopter-borne radiometric survey of its advanced Oryx uranium project.
The company said five areas of anomalism had been identified from the survey at Mpande, and five areas at Mulungushi, including four prominent bulls-eye-style targets surface radiometric anomalies at Mpande ranging from 1,25 km2 to 1,5 km2.
At the company's more advanced Oryx project, several strong anomalies had been defined, approximately 1 km to the west of the area that was previously trenched during the 2006 field season.
source news : miningweekly.co.za
The announcement followed a series of developments within the company's portfolio, including an initial copper resource estimate for its flagship Cheowa project, which the company owns in joint venture with Glencore International.
The proposed dual listing was designed to broaden the company's international shareholder base through the introduction of Australian institutional and retail investors, increase liquidity in the stock, improve analyst coverage and raise additional funds to accelerate its exploration and development activities, Zambezi Resources said.
Zambezi has established a portfolio of copper-gold, gold and uranium projects in Zambia, covering relatively unexplored areas in the country.
The details of the Australian IPO and dual listing, including the size of the proposed capital raising, had not yet been finalised, but the company was compiling a prospectus and planned to list on the ASX by June.
Initial 26 000 t copper resource established at Cheowa
Following successful drilling programmes in 2006, Zambezi announced its maiden Zambian copper resource estimate for its Cheowa project, which is expected to become the cornerstone of the company's plans to develop a substantial copper-gold mining operation in Zambia.
The inferred resource estimate is 1,7-million tons, at 1,5% copper and 0,5 g/t gold for 26 000 tons of contained copper metal and 29 000 oz of contained gold (using a 0,5% copper-cut-off grade).
The company said the 2006 programme had confirmed the potential for a substantial copper-gold resource inventory to be established at Cheowa, making the project strategically important for the company and its joint-venture partner.
Glencore can earn a 51% interest in the Cheowa project by spending $10-million on exploration, with a minimum commitment of $4-million. Two new purpose-built track-mounted RC rigs and two man-portable low-environmental-impact DC rigs have been commissioned for the 2007 drilling campaign at Cheowa, which will enhance drilling productivity and economics, Zambezi Resources said.
The objective of this year's programme is to deliver on the theoretical target potential.
In addition to the Cheowa resource, Zambezi announced further results from its newly-announced copper discovery at Kangaluwi-Chisawa, which last year returned positive drilling results.
Elsewhere, Zambezi recently completed regional high-resolution, radiometric surveys at its Mulungushi and Mpande uranium projects, and also announced the results of preliminary processing of an ultra-high resolution helicopter-borne radiometric survey of its advanced Oryx uranium project.
The company said five areas of anomalism had been identified from the survey at Mpande, and five areas at Mulungushi, including four prominent bulls-eye-style targets surface radiometric anomalies at Mpande ranging from 1,25 km2 to 1,5 km2.
At the company's more advanced Oryx project, several strong anomalies had been defined, approximately 1 km to the west of the area that was previously trenched during the 2006 field season.
source news : miningweekly.co.za
Iran leader likens N-program to train without brakes
President Mahmoud Ahmadinejad said Sunday his country's disputed nuclear program was like a train without brakes or a reverse gear, prompting U.S. Secretary of State Condoleezza Rice to respond that Iran needs "a stop button."
The comments came as senior officials of the five permanent members of the U.N. Security Council - Britain, the United States, France, China and Russia - and Germany prepared for an emergency summit today in London to discuss increased international pressure on Iran to suspend its uranium enrichment program.
The International Atomic Energy Agency, the United Nations' nuclear watchdog agency, reported last week that Iran had ignored a U.N. Security Council ultimatum to freeze its uranium enrichment program and instead had expanded the program by setting up hundreds of centrifuges. Iran has repeatedly refused to halt enrichment as a precondition to negotiations about its program.
"The train of the Iranian nation is without brakes and a rear gear," state radio quoted Ahmadinejad as telling a gathering of Islamic clerics. "We dismantled the rear gear and brakes of the train and threw them away some time ago."
He also repeated his call for further negotiations, saying the time for "bullying" had expired.
Rice responded by saying "they don't need a reverse gear. They need a stop button." She also told "Fox News Sunday" that Tehran needs "to stop enriching and reprocessing, and then we can sit down and talk about whatever is on Iran's mind."
"I've said that I am prepared to meet my counterpart or an Iranian representative at any time if Iran will suspend its enrichment and reprocessing activities. That should be a clear signal," she added.
Enriched to a low level, uranium is used to produce nuclear fuel but further enrichment makes it suitable for use in building an atomic bomb. The United States and its allies fear Iran is using its nuclear program to produce atomic weapons - charges Iran denies, saying its aim is to generate electricity.
In December, the Security Council imposed limited sanctions on Iran over its refusal to suspend enrichment and gave it a 60-day grace period to halt enrichment. The deadline expired Wednesday.
In London, a senior British diplomat, who spoke on condition of anonymity in line with government rules, said officials would use today's talks to examine options for further sanctions - including on arms exports and lucrative export credits Iran receives from Europe in support of trade.
Meanwhile, in Pakistan, seven Muslim nations warned of a "dangerous escalation of tension" over Iran's nuclear program and urged the standoff be resolved diplomatically without resorting to force.
The statement of concern came after ministers from Egypt, Indonesia, Jordan, Malaysia, Saudi Arabia, Turkey and Pakistan met to seek ways to resolve Middle East conflicts, as well as Iran.
The United States has said it has no plans to strike Iran militarily - but has also refused to rule out any options.
source news : buffalonews.com
The comments came as senior officials of the five permanent members of the U.N. Security Council - Britain, the United States, France, China and Russia - and Germany prepared for an emergency summit today in London to discuss increased international pressure on Iran to suspend its uranium enrichment program.
The International Atomic Energy Agency, the United Nations' nuclear watchdog agency, reported last week that Iran had ignored a U.N. Security Council ultimatum to freeze its uranium enrichment program and instead had expanded the program by setting up hundreds of centrifuges. Iran has repeatedly refused to halt enrichment as a precondition to negotiations about its program.
"The train of the Iranian nation is without brakes and a rear gear," state radio quoted Ahmadinejad as telling a gathering of Islamic clerics. "We dismantled the rear gear and brakes of the train and threw them away some time ago."
He also repeated his call for further negotiations, saying the time for "bullying" had expired.
Rice responded by saying "they don't need a reverse gear. They need a stop button." She also told "Fox News Sunday" that Tehran needs "to stop enriching and reprocessing, and then we can sit down and talk about whatever is on Iran's mind."
"I've said that I am prepared to meet my counterpart or an Iranian representative at any time if Iran will suspend its enrichment and reprocessing activities. That should be a clear signal," she added.
Enriched to a low level, uranium is used to produce nuclear fuel but further enrichment makes it suitable for use in building an atomic bomb. The United States and its allies fear Iran is using its nuclear program to produce atomic weapons - charges Iran denies, saying its aim is to generate electricity.
In December, the Security Council imposed limited sanctions on Iran over its refusal to suspend enrichment and gave it a 60-day grace period to halt enrichment. The deadline expired Wednesday.
In London, a senior British diplomat, who spoke on condition of anonymity in line with government rules, said officials would use today's talks to examine options for further sanctions - including on arms exports and lucrative export credits Iran receives from Europe in support of trade.
Meanwhile, in Pakistan, seven Muslim nations warned of a "dangerous escalation of tension" over Iran's nuclear program and urged the standoff be resolved diplomatically without resorting to force.
The statement of concern came after ministers from Egypt, Indonesia, Jordan, Malaysia, Saudi Arabia, Turkey and Pakistan met to seek ways to resolve Middle East conflicts, as well as Iran.
The United States has said it has no plans to strike Iran militarily - but has also refused to rule out any options.
source news : buffalonews.com
Lexam Trades Nevada Properties to Acclerate Oil, Gas & Uranium Exploration!
Lexam Explorations Inc. is pleased to announce that it has entered into a letter of intent with Rubicon Minerals Corporation to trade its Nevada properties for Rubicon common shares. Also party to the transaction is Evanachan Limited, a company wholly owned by Lexam's Chairman and CEO, Robert R. McEwen, which has agreed to exchange its Alaska properties for Rubicon common shares. The combination will transform Rubicon into one of North America's most exciting gold exploration companies!
This transaction will strengthen Lexam's balance sheet, help fund future exploration at the company's Baca Oil and Gas project in Colorado and at the Otish uranium properties in Quebec, which is being explored with its partner, Golden Valley Mines. Lexam will transfer to Rubicon approximately 225,000 acres of mineral properties in northeastern Nevada for approximately 8,571,000 common shares of Rubicon.
"This is a great transaction for Lexam! It strengthens our balance sheet, monetizes an asset, provides upside to a uniquely positioned gold exploration company, and sharpens our focus on energy," stated Rob McEwen.
As part of the proposed transactions, Evanachan has agreed to sell to Rubicon, for approximately 31,428,000 Rubicon common shares, its Alaska land holdings. Evanachan's Alaska land position consists of approximately 513,000 acres, which surrounds the Pogo Mine of Teck Cominco and Sumitomo. The Pogo Mine is entering commercial production and is expected to annually produce between 350,000 and 500,000 ounces of gold over a 10 year mine life. Evanachan is the largest land holder in the Pogo district and one of the largest land holders in Alaska. Evanachan has also agreed to invest a total of $10.0 million in Rubicon by a private placement at $0.70 per unit for a total of 14,285,714 units. Each unit will consist of one Rubicon common share and one-half common share purchase warrant with an exercise price of $1.50 over a two year period.
After giving effect to all of the proposed transactions, Lexam will own approximately 6.5% of Rubicon, with Evanachan owning approximately 34.9% and current Rubicon shareholders owning approximately 58.6%.
The proposed transactions are subject to, among other things, Lexam Board of Directors' approval of a definitive agreement between Lexam, Rubicon and Evanachan, the satisfactory completion of due diligence investigations and Rubicon shareholder approval. In addition, Evanachan and Lexam would be entitled to a termination fee of 3% of the value of the proposed transactions, to be allocated in proportion to their ownership in the New Rubicon, if Rubicon shareholders reject the proposed transactions.
About Lexam
Lexam Explorations is a North American based energy exploration company. Lexam's shares are publicly traded on the TSX-Venture Exchange under the symbol LEX. The company is advancing the Baca Oil & Gas Project located in south-central Colorado, USA, which is 75% owned by Lexam and 25% by ConocoPhillips. It also has an option to earn 50% interest in Golden Valley Mines' Otish Basin uranium projects located in Quebec, Canada.
Contact:
Contacts:
Lexam Explorations Inc.
Ana E. Aguirre
Manager, Investor Relations
(647) 258-0395 or Toll Free: (866) 441-0690
(647) 258-0408 (FAX)
Email: info@lexamexplorations.com
Website: http://www.lexamexplorations.com
Corporate Head Office
Lexam Explorations Inc.
99 George Street, 3rd Floor
Toronto, Ontario M5A 2N4
Source: LEXAM EXPLORATIONS INC.
This transaction will strengthen Lexam's balance sheet, help fund future exploration at the company's Baca Oil and Gas project in Colorado and at the Otish uranium properties in Quebec, which is being explored with its partner, Golden Valley Mines. Lexam will transfer to Rubicon approximately 225,000 acres of mineral properties in northeastern Nevada for approximately 8,571,000 common shares of Rubicon.
"This is a great transaction for Lexam! It strengthens our balance sheet, monetizes an asset, provides upside to a uniquely positioned gold exploration company, and sharpens our focus on energy," stated Rob McEwen.
As part of the proposed transactions, Evanachan has agreed to sell to Rubicon, for approximately 31,428,000 Rubicon common shares, its Alaska land holdings. Evanachan's Alaska land position consists of approximately 513,000 acres, which surrounds the Pogo Mine of Teck Cominco and Sumitomo. The Pogo Mine is entering commercial production and is expected to annually produce between 350,000 and 500,000 ounces of gold over a 10 year mine life. Evanachan is the largest land holder in the Pogo district and one of the largest land holders in Alaska. Evanachan has also agreed to invest a total of $10.0 million in Rubicon by a private placement at $0.70 per unit for a total of 14,285,714 units. Each unit will consist of one Rubicon common share and one-half common share purchase warrant with an exercise price of $1.50 over a two year period.
After giving effect to all of the proposed transactions, Lexam will own approximately 6.5% of Rubicon, with Evanachan owning approximately 34.9% and current Rubicon shareholders owning approximately 58.6%.
The proposed transactions are subject to, among other things, Lexam Board of Directors' approval of a definitive agreement between Lexam, Rubicon and Evanachan, the satisfactory completion of due diligence investigations and Rubicon shareholder approval. In addition, Evanachan and Lexam would be entitled to a termination fee of 3% of the value of the proposed transactions, to be allocated in proportion to their ownership in the New Rubicon, if Rubicon shareholders reject the proposed transactions.
About Lexam
Lexam Explorations is a North American based energy exploration company. Lexam's shares are publicly traded on the TSX-Venture Exchange under the symbol LEX. The company is advancing the Baca Oil & Gas Project located in south-central Colorado, USA, which is 75% owned by Lexam and 25% by ConocoPhillips. It also has an option to earn 50% interest in Golden Valley Mines' Otish Basin uranium projects located in Quebec, Canada.
Contact:
Contacts:
Lexam Explorations Inc.
Ana E. Aguirre
Manager, Investor Relations
(647) 258-0395 or Toll Free: (866) 441-0690
(647) 258-0408 (FAX)
Email: info@lexamexplorations.com
Website: http://www.lexamexplorations.com
Corporate Head Office
Lexam Explorations Inc.
99 George Street, 3rd Floor
Toronto, Ontario M5A 2N4
Source: LEXAM EXPLORATIONS INC.
Uranium: A Hot Button Issue
Kelvin Chan submits: As the spot price of uranium continued a frenzied ascent to $85/lb last week, it has become apparent that at least, north of the border in Canada, uranium has become a hot button issue. Where uranium stock investing was just beginning to attract mainstream attention in 2006, scores of analysts and investors alike have jumped on its bandwagon this year.
An illustration of such is shown below, which is a graph of the total number of subscribers to my uranium stock blog. Also shown for comparison is a 1-year chart of $15.9 billion Cdn uranium giant Cameco Corporation (NYSE: CCJ - News) and $1.1 billion Cdn upstart Energy Metals (NYSEArca: EMU), one of several promising mid-tier uranium junior companies.
A number of observations worth noting include:
A broad market correction beginning May 2006 in both American and Canadian exchanges stalled momentum as speculative money went out of uranium; notice the flattish slope from May until the beginning of October in my subscription rate as people were less enthused after the market correction
Whereas Cameco was fairly resilient during this time, the uranium explorer Energy Metals experienced a much more severe pullback.
A dramatic turnaround occurred when Cameco announced the flooding of Cigar Lake on October 23rd. In a month my subscriber rate doubled from 300 to 600, with the steepness of the slope correlated to the price action of Energy Metals and inversely correlated with Cameco's stock.
After the announcement, there seems to be a period of "consolidation" wherein the market tried to digest the possibility that the mine that was to supply 10% of the world's uranium in the near future could be out commission for quite some time
As 2007 came into focus, investors continued to rally into uranium, seemingly anticipating that the upcoming announcement by Cameco in early March will confirm that Cigar Lake would not be producing for a number of years; thus, the favorable supply-demand imbalance would continue to be bullish.
It is important to note that Energy Metals is not the only junior uranium company to exhibit this type of stock pattern; one can take a look at Fronteer Development Group Inc. and Uranerz Energy Corp., as well as any number of companies listed on the Canadian exchanges (comprehensive list here) to confirm this point.
SeekingAlpha
An illustration of such is shown below, which is a graph of the total number of subscribers to my uranium stock blog. Also shown for comparison is a 1-year chart of $15.9 billion Cdn uranium giant Cameco Corporation (NYSE: CCJ - News) and $1.1 billion Cdn upstart Energy Metals (NYSEArca: EMU), one of several promising mid-tier uranium junior companies.
A number of observations worth noting include:
A broad market correction beginning May 2006 in both American and Canadian exchanges stalled momentum as speculative money went out of uranium; notice the flattish slope from May until the beginning of October in my subscription rate as people were less enthused after the market correction
Whereas Cameco was fairly resilient during this time, the uranium explorer Energy Metals experienced a much more severe pullback.
A dramatic turnaround occurred when Cameco announced the flooding of Cigar Lake on October 23rd. In a month my subscriber rate doubled from 300 to 600, with the steepness of the slope correlated to the price action of Energy Metals and inversely correlated with Cameco's stock.
After the announcement, there seems to be a period of "consolidation" wherein the market tried to digest the possibility that the mine that was to supply 10% of the world's uranium in the near future could be out commission for quite some time
As 2007 came into focus, investors continued to rally into uranium, seemingly anticipating that the upcoming announcement by Cameco in early March will confirm that Cigar Lake would not be producing for a number of years; thus, the favorable supply-demand imbalance would continue to be bullish.
It is important to note that Energy Metals is not the only junior uranium company to exhibit this type of stock pattern; one can take a look at Fronteer Development Group Inc. and Uranerz Energy Corp., as well as any number of companies listed on the Canadian exchanges (comprehensive list here) to confirm this point.
SeekingAlpha
Giants join forces for Victorian plant
THREE of Australia's richest men have joined forces to set up Australia's first nuclear power plant.
Top businessmen Ron Walker, Hugh Morgan and Robert Champion de Crespigny are the key shareholders of a private company called Australian Nuclear Energy Pty Ltd.
The trio are examining the viability of building a nuclear plant in Victoria or South Australia.
A source close to the group told the Herald Sun the company had raised its plans with the Federal Government and the Bracks and Rann governments.
Mr Morgan, the former head of uranium producer Western Mining, is chairman of the venture and owns 20 per cent of the company.
Mr Walker and his close friend Mr de Crespigny each hold 40 per cent stakes in the business.
The company is also talking to the US-based General Electric company, the world's largest supplier of nuclear generation equipment.
"The company was formed to investigate the feasibility of setting up a nuclear plant in Victoria," the source said.
"Informal discussions have been held with the Federal Government and the South Australian and Victorian state governments."
Mr Walker, a former federal treasurer of the Liberal Party, is a close acquaintance of Prime Minister John Howard.
The push comes at a sensitive time for the Howard Government as it examines the recommendations of the Switkowski report on Australia's nuclear future.
Mr Howard has become an enthusiastic proponent of examining nuclear power generation for Australia, and has endorsed it as a clean, environmentally friendly form of energy.
"We need an approach that tackles the problem of greenhouse gas emissions and that is why we need to keep the nuclear option on the table," he told Parliament this month.
Earlier this month Labor premiers warned the Howard Government it should temper its support for nuclear power.
Premier Steve Bracks vowed in December to put any proposal for a nuclear plant to a referendum.
A nuclear reactor is also likely to face strong opposition from the Rann Government, which fought off a Federal Government bid to place a low-level radioactive waste dump in the state's outback in 2004.
In December, the Federal Government's expert review of the potential for nuclear power generation, headed by former Telstra chief Ziggy Switkowski, recommended Australia could have 25 nuclear plants by 2050.
Dr Switkowski said the first reactor could be operating within 10 years. His report said proximity to the east coast national electricity grid would be a key to determining the location of nuclear stations.
That has put the Latrobe Valley and Hastings at the top of the list of ideal Victorian sites.
A study published last month by the Australia Institute identified Portland as a potential site.
Governments in Europe, Asia and North America are accelerating the roll-out of nuclear reactors to reduce their reliance on coal-fired power stations, which are a major source of greenhouse emissions.
According to the Organisation for Economic Co-operation and Development, there are 223 nuclear reactors under construction around the world.
The most aggressive expansion is in China where 63 plants are being built, followed by Russia (26), South Africa (25) and India (24).
Australia has the world's largest low-cost reserves of uranium ore, prompting Chinese and Indian interest in local exploration.
source news : news.com.au
Top businessmen Ron Walker, Hugh Morgan and Robert Champion de Crespigny are the key shareholders of a private company called Australian Nuclear Energy Pty Ltd.
The trio are examining the viability of building a nuclear plant in Victoria or South Australia.
A source close to the group told the Herald Sun the company had raised its plans with the Federal Government and the Bracks and Rann governments.
Mr Morgan, the former head of uranium producer Western Mining, is chairman of the venture and owns 20 per cent of the company.
Mr Walker and his close friend Mr de Crespigny each hold 40 per cent stakes in the business.
The company is also talking to the US-based General Electric company, the world's largest supplier of nuclear generation equipment.
"The company was formed to investigate the feasibility of setting up a nuclear plant in Victoria," the source said.
"Informal discussions have been held with the Federal Government and the South Australian and Victorian state governments."
Mr Walker, a former federal treasurer of the Liberal Party, is a close acquaintance of Prime Minister John Howard.
The push comes at a sensitive time for the Howard Government as it examines the recommendations of the Switkowski report on Australia's nuclear future.
Mr Howard has become an enthusiastic proponent of examining nuclear power generation for Australia, and has endorsed it as a clean, environmentally friendly form of energy.
"We need an approach that tackles the problem of greenhouse gas emissions and that is why we need to keep the nuclear option on the table," he told Parliament this month.
Earlier this month Labor premiers warned the Howard Government it should temper its support for nuclear power.
Premier Steve Bracks vowed in December to put any proposal for a nuclear plant to a referendum.
A nuclear reactor is also likely to face strong opposition from the Rann Government, which fought off a Federal Government bid to place a low-level radioactive waste dump in the state's outback in 2004.
In December, the Federal Government's expert review of the potential for nuclear power generation, headed by former Telstra chief Ziggy Switkowski, recommended Australia could have 25 nuclear plants by 2050.
Dr Switkowski said the first reactor could be operating within 10 years. His report said proximity to the east coast national electricity grid would be a key to determining the location of nuclear stations.
That has put the Latrobe Valley and Hastings at the top of the list of ideal Victorian sites.
A study published last month by the Australia Institute identified Portland as a potential site.
Governments in Europe, Asia and North America are accelerating the roll-out of nuclear reactors to reduce their reliance on coal-fired power stations, which are a major source of greenhouse emissions.
According to the Organisation for Economic Co-operation and Development, there are 223 nuclear reactors under construction around the world.
The most aggressive expansion is in China where 63 plants are being built, followed by Russia (26), South Africa (25) and India (24).
Australia has the world's largest low-cost reserves of uranium ore, prompting Chinese and Indian interest in local exploration.
source news : news.com.au
Sarissa Resources, Inc. Purchases Five Percent of Botanic Oasis, Inc.
Sarissa Resources, Inc., formerly Michigan Gold Mining Investments, Inc. (Pink Sheets:MGGV), is pleased to announce that the Company has purchased five percent of Botanic Oasis, Inc. for $40,000 and 5 million shares. Botanic Oasis distributes Botanic Pax, a biodegradable product used to increase crop yield, decrease drought losses, and reduce labor and mechanical costs in agriculture.
Botanic Pax is a super-absorbent, hemp mesh sac that resembles a tea bag. Combined with fertilizers, fungicides or plant growth hormones, the bag acts as a reservoir and releases water on demand while making fertilizers more soluble. Botanic Oasis, Inc. supplies the Tea Bags to golf courses, forestry , gardens, greenhouses, nursery industries and municipalities.
"The goal of this cooperative is to develop a network of distributors in key locations and industries to exploit local sales channels. This is a product we see as a substantial part of the future in agriculture considering its effectiveness and its cost-saving potential. I believe this investment is a ground floor opportunity in a fast growing new segment of the agricultural resource industry," stated Ben Fuschino, CEO of Sarissa Resources, Inc.
Botanic Oasis, Inc. was founded in October 2005 with sales currently in ten countries forecasted at $600,000 in 2007 and $2.5 million in 2008. The suggested distributor mark up for Botanic Pax is 100% with a low manufacturing cost of approximately 6-8 cents per unit. The product is currently being used or tested in ten countries and undergoing carbon credit certification and registration with the United Nations.
About Sarissa Resources, Inc.:
Sarissa Resources, Inc., formerly Michigan Gold Mining Investments, Inc., is an American junior exploration company involved in the development of mineral assets in North America. Currently, the Company retains a one hundred percent title to a Platinum/Palladium prospect in Shillington Township named the 'Deadmoose Lake' property. Sarissa Resources also owns a seventy per cent title in the 2,000 acre St. Nicholas property, a Uranium prospect near Elliot Lake, Ontario Canada.
This press release contains "forward-looking statements." Forward-looking statements are statements concerning plans, objectives, goals, plans, strategies, expectations, intentions, projections, developments, future events, or performance, underlying (expressed or implied) assumptions and other statements that are other than historical facts. These forward-looking statements are only predictions. No assurances can be given that such predictions will prove correct. Actual events or results may differ materially. Forward-looking statements should be read in light of the cautionary statements and risks that include, but are not limited to, the risks associated with a small company, our comparatively limited financial resources, and other factors that may adversely impact us. These or other risks could cause actual results to differ materially from the future results indicated or implied in such forward-looking statements. We undertake no obligation to update or revise such statements to reflect events, circumstances, or new information after the date of this press release or to reflect the occurrence of unanticipated or other subsequent events.
CONTACT: Sarissa Resources, Inc.
Rodney Marvel
http://www.sarissaresources.com
Investor Relations
1-866-THE-APPL(E)
source news : primenewswire.com
Botanic Pax is a super-absorbent, hemp mesh sac that resembles a tea bag. Combined with fertilizers, fungicides or plant growth hormones, the bag acts as a reservoir and releases water on demand while making fertilizers more soluble. Botanic Oasis, Inc. supplies the Tea Bags to golf courses, forestry , gardens, greenhouses, nursery industries and municipalities.
"The goal of this cooperative is to develop a network of distributors in key locations and industries to exploit local sales channels. This is a product we see as a substantial part of the future in agriculture considering its effectiveness and its cost-saving potential. I believe this investment is a ground floor opportunity in a fast growing new segment of the agricultural resource industry," stated Ben Fuschino, CEO of Sarissa Resources, Inc.
Botanic Oasis, Inc. was founded in October 2005 with sales currently in ten countries forecasted at $600,000 in 2007 and $2.5 million in 2008. The suggested distributor mark up for Botanic Pax is 100% with a low manufacturing cost of approximately 6-8 cents per unit. The product is currently being used or tested in ten countries and undergoing carbon credit certification and registration with the United Nations.
About Sarissa Resources, Inc.:
Sarissa Resources, Inc., formerly Michigan Gold Mining Investments, Inc., is an American junior exploration company involved in the development of mineral assets in North America. Currently, the Company retains a one hundred percent title to a Platinum/Palladium prospect in Shillington Township named the 'Deadmoose Lake' property. Sarissa Resources also owns a seventy per cent title in the 2,000 acre St. Nicholas property, a Uranium prospect near Elliot Lake, Ontario Canada.
This press release contains "forward-looking statements." Forward-looking statements are statements concerning plans, objectives, goals, plans, strategies, expectations, intentions, projections, developments, future events, or performance, underlying (expressed or implied) assumptions and other statements that are other than historical facts. These forward-looking statements are only predictions. No assurances can be given that such predictions will prove correct. Actual events or results may differ materially. Forward-looking statements should be read in light of the cautionary statements and risks that include, but are not limited to, the risks associated with a small company, our comparatively limited financial resources, and other factors that may adversely impact us. These or other risks could cause actual results to differ materially from the future results indicated or implied in such forward-looking statements. We undertake no obligation to update or revise such statements to reflect events, circumstances, or new information after the date of this press release or to reflect the occurrence of unanticipated or other subsequent events.
CONTACT: Sarissa Resources, Inc.
Rodney Marvel
http://www.sarissaresources.com
Investor Relations
1-866-THE-APPL(E)
source news : primenewswire.com
Bid to build nuclear power plant in SA
THREE of Australia's richest men have formed a private company to set up the first nuclear power plant in the country, with South Australia and Victoria identified as potential locations.
Former SA Economic Development Board chairman Robert de Crespigny and business identities Hugh Morgan and Ron Walker are the key shareholders of a company called Australian Nuclear Energy Pty Ltd.
Mr Morgan, the former head of previous Olympic Dam uranium mine owner Western Mining, is chairman of the venture and owns 20 per cent of the company.
Mr de Crespigny and his close friend Mr Walker each hold a 40 per cent stake in the business.
The trio are examining the viability of setting up a nuclear plant at sites in South Australia or Victoria. A source close to the business partners told The Advertiser the company had raised its plans with the Federal Government and the Rann and Bracks governments.
The company is also talking to the U.S.-based General Electric company which is the world's largest supplier of nuclear generation equipment.
"The company was formed to investigate the feasibility of setting up a nuclear plant in Victoria," the source said.
"Informal discussions have been held with the Federal Government and the South Australian and Victorian state governments."
But Premier Mike Rann last night said he had not heard of the company and would not consider its proposal.
Body: "If they ever try to see me, they will be shown the door," he said.
The high-powered business push for a nuclear plant comes at a sensitive time for the Federal Government as it examines the recommendations of the Switkowski report.
Earlier this month the state Labor premiers warned the Howard Government it should temper its support for nuclear power generation.
"The (premiers) call on the Prime Minister to provide assurances that federal powers will not be used to impose nuclear power stations or waste dumps on the states and territories," the premiers said on February 8.
Mr Rann ruled out nuclear power at the time. "A nuclear power station costing a couple of billion dollars would not be either financially or economically viable given our population size," he said.
The Rann Government successfully fought off a Federal Government bid to place a low-level radioactive waste dump in the state's Outback in 2004.
The de Crespigny proposal could put Mr Rann in a difficult political position, with the former EDB boss a key architect of bureaucratic and funding changes driving a mining exploration boom. He was also a member of the State Government Cabinet executive committee.
Victorian Premier Steve Bracks vowed in December to put any proposal for a nuclear plant to a referendum.
In December the Federal Government's expert review of the potential for nuclear power generation headed by former Telstra chief Ziggy Switkowski, recommended Australia could have 25 nuclear plants by 2050.
Dr Switkowski said the first reactor could be operating within 10 years.
A study published last month by the Australia Institute think-tank identified the South-East, the upper Spencer Gulf and Port Adelaide as potential nuclear energy plant sites.South Australia has been the epicentre of a uranium exploration boom in Australia, with more than 50 companies now searching for uranium ore in the state.
Australia's first nuclear reactor, at Lucas Heights near Sydney, was shut down last month after 50 years as an experimental facility.
The Lucas Heights site does not generate power and the decommissioned reactor will be replaced at a cost of $350 million this year.
source news : news.com.au
Former SA Economic Development Board chairman Robert de Crespigny and business identities Hugh Morgan and Ron Walker are the key shareholders of a company called Australian Nuclear Energy Pty Ltd.
Mr Morgan, the former head of previous Olympic Dam uranium mine owner Western Mining, is chairman of the venture and owns 20 per cent of the company.
Mr de Crespigny and his close friend Mr Walker each hold a 40 per cent stake in the business.
The trio are examining the viability of setting up a nuclear plant at sites in South Australia or Victoria. A source close to the business partners told The Advertiser the company had raised its plans with the Federal Government and the Rann and Bracks governments.
The company is also talking to the U.S.-based General Electric company which is the world's largest supplier of nuclear generation equipment.
"The company was formed to investigate the feasibility of setting up a nuclear plant in Victoria," the source said.
"Informal discussions have been held with the Federal Government and the South Australian and Victorian state governments."
But Premier Mike Rann last night said he had not heard of the company and would not consider its proposal.
Body: "If they ever try to see me, they will be shown the door," he said.
The high-powered business push for a nuclear plant comes at a sensitive time for the Federal Government as it examines the recommendations of the Switkowski report.
Earlier this month the state Labor premiers warned the Howard Government it should temper its support for nuclear power generation.
"The (premiers) call on the Prime Minister to provide assurances that federal powers will not be used to impose nuclear power stations or waste dumps on the states and territories," the premiers said on February 8.
Mr Rann ruled out nuclear power at the time. "A nuclear power station costing a couple of billion dollars would not be either financially or economically viable given our population size," he said.
The Rann Government successfully fought off a Federal Government bid to place a low-level radioactive waste dump in the state's Outback in 2004.
The de Crespigny proposal could put Mr Rann in a difficult political position, with the former EDB boss a key architect of bureaucratic and funding changes driving a mining exploration boom. He was also a member of the State Government Cabinet executive committee.
Victorian Premier Steve Bracks vowed in December to put any proposal for a nuclear plant to a referendum.
In December the Federal Government's expert review of the potential for nuclear power generation headed by former Telstra chief Ziggy Switkowski, recommended Australia could have 25 nuclear plants by 2050.
Dr Switkowski said the first reactor could be operating within 10 years.
A study published last month by the Australia Institute think-tank identified the South-East, the upper Spencer Gulf and Port Adelaide as potential nuclear energy plant sites.South Australia has been the epicentre of a uranium exploration boom in Australia, with more than 50 companies now searching for uranium ore in the state.
Australia's first nuclear reactor, at Lucas Heights near Sydney, was shut down last month after 50 years as an experimental facility.
The Lucas Heights site does not generate power and the decommissioned reactor will be replaced at a cost of $350 million this year.
source news : news.com.au
Mega and Titan to Partner on Thelon Basin Project
Mega Uranium Ltd. ("Mega") (TSX:MGA) and Titan Uranium Incorporated. ("Titan") (TSX VENTURE:TUE) are pleased to announce that they have entered into a binding letter of intent whereby Mega will acquire an option to earn a 51% legal and beneficial interest in Titan's entire leasehold land position in the Thelon Basin in the Nunavut Territory, Canada (the "Properties") with a view to the creation of a joint venture partnership on future exploration and exploitation of uranium assets in the Thelon Basin.
The underexplored Thelon Basin is regarded as a highly prospective analogue of the prolific Athabasca Basin of Saskatchewan, as it is geologically comparable in terms of age, size, lithologies and unconformity-style uranium mineralisation. The largest known uranium deposit in the Thelon Basin, AREVA Resources Canada Inc.'s 40 million pound U3O8 Kiggavik resource, indicates the potential for discoveries of large uranium deposits similar to those of the Athabaska Basin.
The Properties comprise an option held by Titan to acquire a 100% interest in eight mining leases totalling 684km2 in the Thelon Basin, Nunavut Territory. Since 2005, Titan has completed two phases of exploration on the properties. In 2005 Titan compiled historical exploration information, then conducted prospecting and boulder sampling to identify specific drill targets. In the 2006 field season, Titan had to reduce its planned drilling program due to extreme weather conditions, but one of the seven holes drilled intersected 3.9 metres averaging 0.16% U308.
Proposed exploration programs for 2007 and 2008 build on past work. Targets include highly enriched boulder trains associated with geophysical and geochemical anomalies, which are thought to be coincident with their source areas. A 30-hole, 3,000-metre drill program has been proposed and is permitted for 2007. A comparable, results-predicated program is anticipated for 2008.
Current ground tenure and projected expenditure levels for Nunavut clearly signal that the Territory is Canada's emerging exploration frontier. "Although its absolute potential remains unknown, recent developments attest to the region's rich mineral potential," commented Phil Olson, Titan's President and CEO.
President of Mega, Stewart Taylor, stated, "We are excited to join Titan in their Thelon Basin project. For Mega, this venture represents a continuation of its strategy of acquiring attractive uranium exploration projects in under-explored, yet geologically promising areas. We are currently reviewing similar high quality uranium exploration opportunities elsewhere in Canada."
Terms of the Acquisition
Under the terms of a binding letter of intent, Mega and Titan have agreed, subject to completion of diligence by Mega, receipt of requisite approvals and the completion of a formal agreement, that Mega will acquire a 51% interest in all of Titan's owned and to be owned claims in the Thelon Basin. In order to earn the Interest, Mega has committed to expend an aggregate of C$5,000,000 on the Properties on or before December 31, 2008 on exploration work programs. Any work programs undertaken in 2007 will be operated by Titan, and any work programs in 2008 will be operated by Mega, with the other party contributing one full time geologist to the operator in each year.
On Mega earning the Interest the parties have agreed that they will form a joint venture for the purposes of future exploration on the Properties.
Philip E. Olson, P. Geo., is Titan's Qualified Person (as defined by National Instrument 43-101) for Titan's uranium projects and is responsible for the technical information contained in this release.
source news : ccnmatthews.com
The underexplored Thelon Basin is regarded as a highly prospective analogue of the prolific Athabasca Basin of Saskatchewan, as it is geologically comparable in terms of age, size, lithologies and unconformity-style uranium mineralisation. The largest known uranium deposit in the Thelon Basin, AREVA Resources Canada Inc.'s 40 million pound U3O8 Kiggavik resource, indicates the potential for discoveries of large uranium deposits similar to those of the Athabaska Basin.
The Properties comprise an option held by Titan to acquire a 100% interest in eight mining leases totalling 684km2 in the Thelon Basin, Nunavut Territory. Since 2005, Titan has completed two phases of exploration on the properties. In 2005 Titan compiled historical exploration information, then conducted prospecting and boulder sampling to identify specific drill targets. In the 2006 field season, Titan had to reduce its planned drilling program due to extreme weather conditions, but one of the seven holes drilled intersected 3.9 metres averaging 0.16% U308.
Proposed exploration programs for 2007 and 2008 build on past work. Targets include highly enriched boulder trains associated with geophysical and geochemical anomalies, which are thought to be coincident with their source areas. A 30-hole, 3,000-metre drill program has been proposed and is permitted for 2007. A comparable, results-predicated program is anticipated for 2008.
Current ground tenure and projected expenditure levels for Nunavut clearly signal that the Territory is Canada's emerging exploration frontier. "Although its absolute potential remains unknown, recent developments attest to the region's rich mineral potential," commented Phil Olson, Titan's President and CEO.
President of Mega, Stewart Taylor, stated, "We are excited to join Titan in their Thelon Basin project. For Mega, this venture represents a continuation of its strategy of acquiring attractive uranium exploration projects in under-explored, yet geologically promising areas. We are currently reviewing similar high quality uranium exploration opportunities elsewhere in Canada."
Terms of the Acquisition
Under the terms of a binding letter of intent, Mega and Titan have agreed, subject to completion of diligence by Mega, receipt of requisite approvals and the completion of a formal agreement, that Mega will acquire a 51% interest in all of Titan's owned and to be owned claims in the Thelon Basin. In order to earn the Interest, Mega has committed to expend an aggregate of C$5,000,000 on the Properties on or before December 31, 2008 on exploration work programs. Any work programs undertaken in 2007 will be operated by Titan, and any work programs in 2008 will be operated by Mega, with the other party contributing one full time geologist to the operator in each year.
On Mega earning the Interest the parties have agreed that they will form a joint venture for the purposes of future exploration on the Properties.
Philip E. Olson, P. Geo., is Titan's Qualified Person (as defined by National Instrument 43-101) for Titan's uranium projects and is responsible for the technical information contained in this release.
source news : ccnmatthews.com
Ur-Energy's CEO to Co-Chair and Present for the Uranium Symposium
Ur-Energy Inc. (TSX:URE) ("Ur-Energy" or the "Company") is pleased to announce that Bill Boberg, CEO and President, will be co-chairing at the 2007 SME Annual Meeting & Exhibit and CMA's 109th National Western Mining Conference held in Denver, Colorado, February 25 - 28, 2007.
Mr. Boberg will co-chair the following portion of the Uranium Symposium:
Uranium I - The Melting Pot 2:00 P.M. MDT, Monday, February 26th, to be followed by a Panel Discussion at 4:25 P.M. MDT.
Mr. Boberg will give a presentation on the following at the Uranium II - Back with a Vengeance segment:
"Comparison of US Uranium Resources to Global Resources," on Tuesday, February 27th
For more information about this conference, visit www.smenet.org.
Ur-Energy is a dynamic junior mining company focused on development of uranium production from properties in the United States and exploration for uranium deposits in both the United States and Canada. Shares of the corporation trade on the Toronto Stock Exchange under the symbol URE. The Company has its registered corporate office in Ottawa, Canada and its headquarters in Littleton, Colorado. The website is at www.ur-energy.com.
Mr. Boberg will co-chair the following portion of the Uranium Symposium:
Uranium I - The Melting Pot 2:00 P.M. MDT, Monday, February 26th, to be followed by a Panel Discussion at 4:25 P.M. MDT.
Mr. Boberg will give a presentation on the following at the Uranium II - Back with a Vengeance segment:
"Comparison of US Uranium Resources to Global Resources," on Tuesday, February 27th
For more information about this conference, visit www.smenet.org.
Ur-Energy is a dynamic junior mining company focused on development of uranium production from properties in the United States and exploration for uranium deposits in both the United States and Canada. Shares of the corporation trade on the Toronto Stock Exchange under the symbol URE. The Company has its registered corporate office in Ottawa, Canada and its headquarters in Littleton, Colorado. The website is at www.ur-energy.com.
DNA test detects low-level uranium
Yi Lu and his colleagues, who already showed how synthetic DNA molecules could be used to detect toxic lead at very low levels, have now turned the technique to detecting radioactive uranium in tiny amounts.
Their DNA sensor can detect traces of uranium contamination nearly 3,000 times lower than the level considered hazardous to human health, the UI chemistry professor said recently. The technology eventually might be contained in a fast and easily portable on-site testing system for uranium.
Lu said its likely uses probably don't include sniffing out radioactive weapons, for instance in cargo containers shipped into the country, a potential form of terrorist attack that's raised some concern in recent years. The technique doesn't discern between weaponized "enriched" uranium and the unenriched variety.
But it could be quite useful for detecting contamination levels in soil or water, Lu said.
UI researchers tested it on contaminated soil samples from the U.S. Department of Energy, and it proved to be as capable as the large and complex equipment used in the department's testing labs now.
"The performance is comparable," Lu said. "You cannot take that whole thing (current testing methods) on site for real-time identification."
To create the sensor, the UI researchers use a type of single-strand DNA that "cleaves," or splits, in the presence of uranyl ions, the most soluble form of uranium particles and the one presenting the greatest danger to humans.
To the ribbonlike molecule of DNA, they attach a chemical molecule that fluoresces, or glows, and a second chemical molecule that "quenches" the first one, that is prevents it from glowing.
When a uranyl-containing sample is introduced into the mix, the DNA strand breaks, freeing the fluorescent molecule from the array – and from the effect of the quencher molecule – causing it to glow again.
The UI researchers use the minute light signal to detect the uranium. By capturing how fast the signal begins after a contaminated sample is introduced and how rapidly the signal builds in intensity, they also can tell how much contamination is present.
The researchers identified a type of DNA good for detecting uranium by culling a "library" of trillions of DNA molecules for likely candidates.
"We're basically on a fishing expedition," Lu said. "We do multiple rounds ... with more stringent conditions. We pick out the one that works the best."
They also modify the DNA somewhat, stripping it to the components vital for detecting uranium ions – which also makes it less expensive to produce.
Lu and his team used the same procedure to pick out DNA good for detecting lead and also have identified molecules sensitive to copper and zinc, among other things. The various molecular sensors could be combined in an array, or "DNA chip," able to detect multiple substances at once.
Research on the uranium sensor, outlined in the Proceedings of the National Academy of Sciences, has been funded by the Department of Energy, the National Science Foundation and the National Institutes of Health.
Lu already helped co-found a company, DzymeTech Inc., working to bring lead test kits employing the technology to market, with the idea that homeowners and home inspectors could use them to check for lead in paint or water. The company is licensing the uranium sensing technology as well, he said.
The UI researchers also are looking for DNA molecules that could be used to sense organic toxins like dioxins in addition to toxic metals.
In addition, they're working to understand in more detail the molecular mechanics that make the system work, factors like the structure of the DNA molecules and the way they bind to other molecules – basic science that might help the researchers improve the system further, Lu said.
source news : news-gazette.com
Their DNA sensor can detect traces of uranium contamination nearly 3,000 times lower than the level considered hazardous to human health, the UI chemistry professor said recently. The technology eventually might be contained in a fast and easily portable on-site testing system for uranium.
Lu said its likely uses probably don't include sniffing out radioactive weapons, for instance in cargo containers shipped into the country, a potential form of terrorist attack that's raised some concern in recent years. The technique doesn't discern between weaponized "enriched" uranium and the unenriched variety.
But it could be quite useful for detecting contamination levels in soil or water, Lu said.
UI researchers tested it on contaminated soil samples from the U.S. Department of Energy, and it proved to be as capable as the large and complex equipment used in the department's testing labs now.
"The performance is comparable," Lu said. "You cannot take that whole thing (current testing methods) on site for real-time identification."
To create the sensor, the UI researchers use a type of single-strand DNA that "cleaves," or splits, in the presence of uranyl ions, the most soluble form of uranium particles and the one presenting the greatest danger to humans.
To the ribbonlike molecule of DNA, they attach a chemical molecule that fluoresces, or glows, and a second chemical molecule that "quenches" the first one, that is prevents it from glowing.
When a uranyl-containing sample is introduced into the mix, the DNA strand breaks, freeing the fluorescent molecule from the array – and from the effect of the quencher molecule – causing it to glow again.
The UI researchers use the minute light signal to detect the uranium. By capturing how fast the signal begins after a contaminated sample is introduced and how rapidly the signal builds in intensity, they also can tell how much contamination is present.
The researchers identified a type of DNA good for detecting uranium by culling a "library" of trillions of DNA molecules for likely candidates.
"We're basically on a fishing expedition," Lu said. "We do multiple rounds ... with more stringent conditions. We pick out the one that works the best."
They also modify the DNA somewhat, stripping it to the components vital for detecting uranium ions – which also makes it less expensive to produce.
Lu and his team used the same procedure to pick out DNA good for detecting lead and also have identified molecules sensitive to copper and zinc, among other things. The various molecular sensors could be combined in an array, or "DNA chip," able to detect multiple substances at once.
Research on the uranium sensor, outlined in the Proceedings of the National Academy of Sciences, has been funded by the Department of Energy, the National Science Foundation and the National Institutes of Health.
Lu already helped co-found a company, DzymeTech Inc., working to bring lead test kits employing the technology to market, with the idea that homeowners and home inspectors could use them to check for lead in paint or water. The company is licensing the uranium sensing technology as well, he said.
The UI researchers also are looking for DNA molecules that could be used to sense organic toxins like dioxins in addition to toxic metals.
In addition, they're working to understand in more detail the molecular mechanics that make the system work, factors like the structure of the DNA molecules and the way they bind to other molecules – basic science that might help the researchers improve the system further, Lu said.
source news : news-gazette.com
SXR Uranium One to buy mothballed plant in Utah
Canadian miner SXR Uranium One Inc. said it will buy a uranium processing plant and uranium fields from U.S. Energy Corp. and its Crested Corp. affiliate for stock and cash worth about $101 million.
Uranium One said it will purchase the mothballed Shootaring Canyon Uranium Mill in Utah and uranium exploration properties in Utah, Wyoming, Arizona and Colorado.
It is paying 6.6 million shares, plus $750,000 in cash.
Uranium One also has agreed to pay U.S. Energy, based in Riverton, Wyo., $20 million when the mill starts commercial production and $7.5 million on the first delivery of uranium to the mill from any of the purchased properties.
U.S. Energy also will receive a royalty of 5 percent on the sale of uranium produced at the mill, to a maximum of $12.5 million.
The Shootaring Canyon Mill is about 48 miles south of Hanksville, Wayne County. The mill was commissioned and operated for four months in 1982 and has been maintained in "excellent condition" since then.
source news : deseretnews.com
Uranium One said it will purchase the mothballed Shootaring Canyon Uranium Mill in Utah and uranium exploration properties in Utah, Wyoming, Arizona and Colorado.
It is paying 6.6 million shares, plus $750,000 in cash.
Uranium One also has agreed to pay U.S. Energy, based in Riverton, Wyo., $20 million when the mill starts commercial production and $7.5 million on the first delivery of uranium to the mill from any of the purchased properties.
U.S. Energy also will receive a royalty of 5 percent on the sale of uranium produced at the mill, to a maximum of $12.5 million.
The Shootaring Canyon Mill is about 48 miles south of Hanksville, Wayne County. The mill was commissioned and operated for four months in 1982 and has been maintained in "excellent condition" since then.
source news : deseretnews.com
Friday, February 23, 2007
Austria: Iran enriching uranium despite U.N. ultimatum
Iran has ignored a U.N. Security Council ultimatum to freeze uranium enrichment and has instead expanded its program by setting up hundreds of centrifuges, the U.N. nuclear watchdog agency said Thursday. The finding paves the way for new U.N. sanctions.
Hours later, the United States said key countries would meet next week to try to develop new U.N. sanctions against Iran.
The International Atomic Energy Agency said in a report to the Security Council and its 35-nation board that Tehran also has continued to build a heavy water reactor and related facilities -- which, along with enrichment -- could help it develop nuclear arms.
In addition, the report said Iran ignored a Security Council call to cooperate with the IAEA in its efforts to shed light on suspicious nuclear activities.
The conclusions, while widely expected, were important because they could serve as the trigger for the council to start deliberating on new sanctions against Tehran.
In Washington, Undersecretary of State Nicholas Burns said he will travel to London on Monday to meet with the United States' negotiating partners to try to draft a new resolution to sanction Iran.
"It is effectively thumbing its nose at the international community," he said of Iran.
Burns said he hopes the United States and other permanent members of the U.N. Security Council, plus Germany, can quickly draft a resolution to "see Iran repudiated again."
In Tehran, the deputy head of Iran's Atomic Energy Organization, Mohammed Saeedi, ruled out suspending enrichment, saying such demands were against Iran's "rights, the Nuclear Nonproliferation Treaty and international regulations."
The council issued three demands to Iran on Dec. 23 -- freeze uranium enrichment, stop building heavy water facilities and fully cooperate with the IAEA. It introduced limited sanctions and gave Iran 60 days to comply -- a deadline that expired Wednesday.
The IAEA report prepared by director Mohamed ElBaradei showed Tehran has instead expanded its enrichment efforts -- setting up nearly 1,000 uranium-spinning centrifuges in and above an underground bunker, enriching minute amounts of uranium and bringing nearly 9 tons of the gaseous feedstock into its underground nuclear facility at Natanz in preparation for enrichment.
Iranian officials also informed the agency that they would expand their centrifuge installations to close to 3,000 by May, the report said.
Iran's stated goal is running 54,000 centrifuges at Natanz to churn out enriched uranium. This is enough for dozens of nuclear weapons a year.
Iran maintains it only wants to develop enrichment to generate power and says its heavy water facilities at the central city of Arak -- which will produce plutonium, another potential pathway to nuclear arms -- are meant solely to generate isotopes for medical research and other peaceful purposes.
The sanctions approved in December banned all countries from supplying Iran with materials and technology that could contribute to its nuclear and missile programs and froze the Iranian assets of 10 key companies and 12 individuals related to those programs.
Russia and China, veto-holding council members with close ties to Iran, are likely to oppose strict economic sanctions or weapons bans.
With the United States also beefing up naval forces in the Persian Gulf, concerns have grown that Washington might be planning military action against Tehran.
The U.S. has said it has no plans to strike Iran militarily -- but has also said all options remain on the table.
source news : tulsaworld.com
Hours later, the United States said key countries would meet next week to try to develop new U.N. sanctions against Iran.
The International Atomic Energy Agency said in a report to the Security Council and its 35-nation board that Tehran also has continued to build a heavy water reactor and related facilities -- which, along with enrichment -- could help it develop nuclear arms.
In addition, the report said Iran ignored a Security Council call to cooperate with the IAEA in its efforts to shed light on suspicious nuclear activities.
The conclusions, while widely expected, were important because they could serve as the trigger for the council to start deliberating on new sanctions against Tehran.
In Washington, Undersecretary of State Nicholas Burns said he will travel to London on Monday to meet with the United States' negotiating partners to try to draft a new resolution to sanction Iran.
"It is effectively thumbing its nose at the international community," he said of Iran.
Burns said he hopes the United States and other permanent members of the U.N. Security Council, plus Germany, can quickly draft a resolution to "see Iran repudiated again."
In Tehran, the deputy head of Iran's Atomic Energy Organization, Mohammed Saeedi, ruled out suspending enrichment, saying such demands were against Iran's "rights, the Nuclear Nonproliferation Treaty and international regulations."
The council issued three demands to Iran on Dec. 23 -- freeze uranium enrichment, stop building heavy water facilities and fully cooperate with the IAEA. It introduced limited sanctions and gave Iran 60 days to comply -- a deadline that expired Wednesday.
The IAEA report prepared by director Mohamed ElBaradei showed Tehran has instead expanded its enrichment efforts -- setting up nearly 1,000 uranium-spinning centrifuges in and above an underground bunker, enriching minute amounts of uranium and bringing nearly 9 tons of the gaseous feedstock into its underground nuclear facility at Natanz in preparation for enrichment.
Iranian officials also informed the agency that they would expand their centrifuge installations to close to 3,000 by May, the report said.
Iran's stated goal is running 54,000 centrifuges at Natanz to churn out enriched uranium. This is enough for dozens of nuclear weapons a year.
Iran maintains it only wants to develop enrichment to generate power and says its heavy water facilities at the central city of Arak -- which will produce plutonium, another potential pathway to nuclear arms -- are meant solely to generate isotopes for medical research and other peaceful purposes.
The sanctions approved in December banned all countries from supplying Iran with materials and technology that could contribute to its nuclear and missile programs and froze the Iranian assets of 10 key companies and 12 individuals related to those programs.
Russia and China, veto-holding council members with close ties to Iran, are likely to oppose strict economic sanctions or weapons bans.
With the United States also beefing up naval forces in the Persian Gulf, concerns have grown that Washington might be planning military action against Tehran.
The U.S. has said it has no plans to strike Iran militarily -- but has also said all options remain on the table.
source news : tulsaworld.com
Iran Vows No Weakness Over Nuclear Program
President Mahmoud Ahmadinejad said on Friday Iran should not show weakness over its nuclear program, after Tehran ignored a U.N. deadline to stop nuclear work which the West says will be used to make atom bombs.
The U.N. Security Council had given Iran till February 21 to halt uranium enrichment, a process that can make fuel for power plants or material for warheads.
The U.N. watchdog International Atomic Energy Agency said on Thursday Iran had not heeded the demand.
The five permanent members of the U.N. Security Council plus Germany will meet in London next week to discuss possible further steps in addition to U.N. sanctions barring the transfer of nuclear technology and know-how that were imposed in December.
"If we show weakness in front of the enemy the expectations will increase but if we stand against them, because of this resistance, they will retreat," he said in a speech in northern Iran, Iran's ISNA news agency reported.
The president said in the past, when Iran has compromised over a nuclear program it insists has only peaceful aims, the West had simply increased its demands.
Ahmadinejad is not the highest authority in the Islamic Republic, but his comments echo those of Supreme Leader Ayatollah Ali Khamenei, who has final say and who has previously said Iran would press ahead with its nuclear ambitions.
"The enemies became so impudent that they want us to completely follow those rules that they did not accept themselves and definitely will not carry out," Ahmadinejad said.
STEPPING UP PRESSURE
Iran previously suspended uranium enrichment under an agreement with the European Union but which broke down in 2005. The president said earlier this week Iran would only halt its nuclear fuel work if those making such demands did too.
The United States, which dismissed that Iranian offer, has stepped up pressure on Iran to stop its atomic work by slapping U.S. sanctions on two big Iranian state banks and three companies it says are associated with proliferation.
It has also deployed a second aircraft carrier to the Gulf with supporting warships, a move widely seen as a warning to Iran. Washington insists it wants a diplomatic solution and does not want war, but has not ruled out force if necessary.
The IAEA report on Thursday said Iran had installed two cascades, or networks, of 164 centrifuges in its underground Natanz enrichment plant with another two cascades close to completion. Centrifuges spin at high speeds to enrich uranium.
Additional penalties Iran might face for ignoring the U.N. demand include a travel ban on senior Iranian officials and restrictions on non-nuclear business.
Analysts say harsher sanctions could face serious obstacles, as Russia, China and some EU powers prefer further dialogue with Iran to Washington's push to isolate and punish.
Copyright 2006 Reuters.
The U.N. Security Council had given Iran till February 21 to halt uranium enrichment, a process that can make fuel for power plants or material for warheads.
The U.N. watchdog International Atomic Energy Agency said on Thursday Iran had not heeded the demand.
The five permanent members of the U.N. Security Council plus Germany will meet in London next week to discuss possible further steps in addition to U.N. sanctions barring the transfer of nuclear technology and know-how that were imposed in December.
"If we show weakness in front of the enemy the expectations will increase but if we stand against them, because of this resistance, they will retreat," he said in a speech in northern Iran, Iran's ISNA news agency reported.
The president said in the past, when Iran has compromised over a nuclear program it insists has only peaceful aims, the West had simply increased its demands.
Ahmadinejad is not the highest authority in the Islamic Republic, but his comments echo those of Supreme Leader Ayatollah Ali Khamenei, who has final say and who has previously said Iran would press ahead with its nuclear ambitions.
"The enemies became so impudent that they want us to completely follow those rules that they did not accept themselves and definitely will not carry out," Ahmadinejad said.
STEPPING UP PRESSURE
Iran previously suspended uranium enrichment under an agreement with the European Union but which broke down in 2005. The president said earlier this week Iran would only halt its nuclear fuel work if those making such demands did too.
The United States, which dismissed that Iranian offer, has stepped up pressure on Iran to stop its atomic work by slapping U.S. sanctions on two big Iranian state banks and three companies it says are associated with proliferation.
It has also deployed a second aircraft carrier to the Gulf with supporting warships, a move widely seen as a warning to Iran. Washington insists it wants a diplomatic solution and does not want war, but has not ruled out force if necessary.
The IAEA report on Thursday said Iran had installed two cascades, or networks, of 164 centrifuges in its underground Natanz enrichment plant with another two cascades close to completion. Centrifuges spin at high speeds to enrich uranium.
Additional penalties Iran might face for ignoring the U.N. demand include a travel ban on senior Iranian officials and restrictions on non-nuclear business.
Analysts say harsher sanctions could face serious obstacles, as Russia, China and some EU powers prefer further dialogue with Iran to Washington's push to isolate and punish.
Copyright 2006 Reuters.
Record-Low Production Costs, Near-Record Output Mark Stellar Year For U.S. Nuclear Power Plants
U.S. nuclear power plants in 2006 supplied the amount of electricity in the industry’s history while achieving record-low production costs, according to preliminary figures released recently by the Nuclear Energy Institute. The 103 commercial nuclear plants operating in 31 states generated 787.6 billion kilowatt-hours (kwh) of electricity last year, second only to the record-high of 788.5 billion kwh of electricity produced in 2004.
Nuclear energy supplies electricity to one of every five homes and businesses. It also supplies nearly 75 percent of the electricity that comes from sources, including renewable technologies and hydroelectric power plants that do not emit controlled pollutants or greenhouse gases into the atmosphere.
The industry’s average production costs—encompassing expenses for uranium fuel and operations and maintenance—were an all-time low of 1.66 cents/kwh in 2006, according to preliminary figures. Average production costs have been below 2 cents/kwh for the past eight years, making nuclear power plants highly cost competitive with other electricity sources, particularly those that are capable of reliably producing large amounts of electricity.
“The consistent safe, high performance and efficient operation of the nation’s nuclear plants provides overwhelming evidence that our business model is working and buttresses the case for building a new generation of advanced-design plants to help America meet its energy needs,” said Frank L. (Skip) Bowman, NEI president and chief executive officer.
Electricity production at nuclear power plants has increased 36 percent since 1990, adding the equivalent of more than 26 large power plants to the electrical grid and preventing the emission of massive amounts of controlled air pollutants and greenhouse gases if that increase in baseload, or around-the-clock, electricity production instead had been met by fossil-fired power plants.
Amid concerns about future energy security and the threat of global climate change, and with the nation’s electricity needs projected to increase 40 percent over the next 25 years, a growing chorus of supporters—spanning policymakers, leading environmentalists, business leaders and the public at large—is advocating the construction of new nuclear power plants. The Energy Policy Act of 2005 included incentives for a limited number of advanced-design nuclear plants among its provisions encouraging improved energy efficiency and the construction of renewable energy sources and cleaner fossil-fired power plants.
The average production cost dropped to a record-low even though prices for uranium fuel have increased considerably over the past three years. Production costs are a key measure of an electricity source’s competitiveness in the market because generating companies typically dispatch their low-cost electricity to the grid first.
Even when expenses for taxes, decommissioning and yearly capital additions are added to production costs to yield a total electricity cost, nuclear-generated electricity typically clears the market for less than 2.5 cents/kwh. By comparison, production costs alone for natural gas-fired power plants averaged 7.5 cents/kwh in 2005, according to Global Energy Decisions data. The industry’s average capacity factor—a measure of efficiency—was 89.9 percent last year, according to preliminary figures. That is slightly higher than 2005’s 89.3 percent; the industry’s record-high of 90.3 percent was set in 2002. Final figures on the industry’s 2006 performance are expected within about two months.
“It’s going to take a collaborative effort of all forms of electricity generation, as well as much-improved efficiency, to meet the sizable energy needs that our nation faces,” Bowman said. “Still, the exceptional performance achieved at U.S. nuclear power plants in 2006 shows that the nation’s future energy security hinges in part upon increased reliance on clean, safe and affordable nuclear energy.”
SOURCE: The Nuclear Energy Institute
Nuclear energy supplies electricity to one of every five homes and businesses. It also supplies nearly 75 percent of the electricity that comes from sources, including renewable technologies and hydroelectric power plants that do not emit controlled pollutants or greenhouse gases into the atmosphere.
The industry’s average production costs—encompassing expenses for uranium fuel and operations and maintenance—were an all-time low of 1.66 cents/kwh in 2006, according to preliminary figures. Average production costs have been below 2 cents/kwh for the past eight years, making nuclear power plants highly cost competitive with other electricity sources, particularly those that are capable of reliably producing large amounts of electricity.
“The consistent safe, high performance and efficient operation of the nation’s nuclear plants provides overwhelming evidence that our business model is working and buttresses the case for building a new generation of advanced-design plants to help America meet its energy needs,” said Frank L. (Skip) Bowman, NEI president and chief executive officer.
Electricity production at nuclear power plants has increased 36 percent since 1990, adding the equivalent of more than 26 large power plants to the electrical grid and preventing the emission of massive amounts of controlled air pollutants and greenhouse gases if that increase in baseload, or around-the-clock, electricity production instead had been met by fossil-fired power plants.
Amid concerns about future energy security and the threat of global climate change, and with the nation’s electricity needs projected to increase 40 percent over the next 25 years, a growing chorus of supporters—spanning policymakers, leading environmentalists, business leaders and the public at large—is advocating the construction of new nuclear power plants. The Energy Policy Act of 2005 included incentives for a limited number of advanced-design nuclear plants among its provisions encouraging improved energy efficiency and the construction of renewable energy sources and cleaner fossil-fired power plants.
The average production cost dropped to a record-low even though prices for uranium fuel have increased considerably over the past three years. Production costs are a key measure of an electricity source’s competitiveness in the market because generating companies typically dispatch their low-cost electricity to the grid first.
Even when expenses for taxes, decommissioning and yearly capital additions are added to production costs to yield a total electricity cost, nuclear-generated electricity typically clears the market for less than 2.5 cents/kwh. By comparison, production costs alone for natural gas-fired power plants averaged 7.5 cents/kwh in 2005, according to Global Energy Decisions data. The industry’s average capacity factor—a measure of efficiency—was 89.9 percent last year, according to preliminary figures. That is slightly higher than 2005’s 89.3 percent; the industry’s record-high of 90.3 percent was set in 2002. Final figures on the industry’s 2006 performance are expected within about two months.
“It’s going to take a collaborative effort of all forms of electricity generation, as well as much-improved efficiency, to meet the sizable energy needs that our nation faces,” Bowman said. “Still, the exceptional performance achieved at U.S. nuclear power plants in 2006 shows that the nation’s future energy security hinges in part upon increased reliance on clean, safe and affordable nuclear energy.”
SOURCE: The Nuclear Energy Institute
Western, Iranian coverage follows IAEA criticism
A day after the U.N. atomic watchdog criticized Iran for defying an ultimatum, the Iranian president says his country is sticking to its course. Here are glimpses of the early coverage, including how Iran is reporting on itself:
The Associated Press: "Iranian President Mahmoud Ahmadinejad vowed Friday that Iran would defend its nuclear program and described his country as a potential role model for others trying to develop advanced technology."
Reuters: "President Mahmoud Ahmadinejad said on Friday Iran should not show weakness over its nuclear program, after Tehran ignored a U.N. deadline to stop nuclear work which the West says will be used to make atom bombs."
IRNA, the state-run Iranian news agency: "President Mahmoud Ahmadinejad said here on Thursday that access to nuclear knowhow was key to national development and preservation of Iranian civilization."
The state news outlet's site currently leads not with the Ahmadinejad story but with nuclear comments from another official. The opening sentence takes a decidedly different tone: "Chairman of the State Expediency Council Hojjatoleslam Akbar Hashemi Rafsanjani Friday reassured the West that Iran was not seeking to build a nuclear bomb. "
Also, as On Deadline noted a couple posts ago, a number of major U.S. dailies lead today with coverage of the International Atomic Energy Agency's report or otherwise play it prominently.
The Washington Post: "Secretary of State Condoleezza Rice warned Iran on Thursday that it will face further punishment and isolation if it forges ahead with efforts to develop a uranium-enrichment program, but she said the United States and other powers are prepared to restart talks aimed at ending the standoff if Iran suspends its most controversial nuclear activities."
The New York Times, in the story's second paragraph, noting an insider reaction: "In a mild surprise to outside experts, the nuclear agency reported that Iran was now operating or about to switch on roughly 1,000 centrifuges, the high-speed devices that enrich uranium, at its nuclear facility at Natanz. "
source news : blogs.usatoday.com
The Associated Press: "Iranian President Mahmoud Ahmadinejad vowed Friday that Iran would defend its nuclear program and described his country as a potential role model for others trying to develop advanced technology."
Reuters: "President Mahmoud Ahmadinejad said on Friday Iran should not show weakness over its nuclear program, after Tehran ignored a U.N. deadline to stop nuclear work which the West says will be used to make atom bombs."
IRNA, the state-run Iranian news agency: "President Mahmoud Ahmadinejad said here on Thursday that access to nuclear knowhow was key to national development and preservation of Iranian civilization."
The state news outlet's site currently leads not with the Ahmadinejad story but with nuclear comments from another official. The opening sentence takes a decidedly different tone: "Chairman of the State Expediency Council Hojjatoleslam Akbar Hashemi Rafsanjani Friday reassured the West that Iran was not seeking to build a nuclear bomb. "
Also, as On Deadline noted a couple posts ago, a number of major U.S. dailies lead today with coverage of the International Atomic Energy Agency's report or otherwise play it prominently.
The Washington Post: "Secretary of State Condoleezza Rice warned Iran on Thursday that it will face further punishment and isolation if it forges ahead with efforts to develop a uranium-enrichment program, but she said the United States and other powers are prepared to restart talks aimed at ending the standoff if Iran suspends its most controversial nuclear activities."
The New York Times, in the story's second paragraph, noting an insider reaction: "In a mild surprise to outside experts, the nuclear agency reported that Iran was now operating or about to switch on roughly 1,000 centrifuges, the high-speed devices that enrich uranium, at its nuclear facility at Natanz. "
source news : blogs.usatoday.com
U.S. wants tougher U.N. sanctions on Iran
The United States will seek tougher U.N. sanctions against Iran for defying a Security Council demand to suspend uranium enrichment, U.S. officials said Thursday. But it was unclear whether Russia or China, which hold Security Council vetoes, will go along.
U.S. officials disclosed the latest move after the International Atomic Energy Agency, the United Nations nuclear watchdog agency, said Iran was expanding an industrial-scale uranium enrichment facility and continuing to build the Arak heavy water reactor.
The United States and its European allies believe that Iran's uranium enrichment program is part of a secret effort to develop nuclear weapons, while Iran insists that the program is aimed at generating electrical power. There is ambiguity, because the same process that produces low-enriched uranium for power plants also produces highly enriched uranium fuel used in nuclear weapons.
A renewed drive for sanctions almost certainly will ratchet up tensions that are already rising after U.S. charges that Iranian-
supplied weapons have cost hundreds of U.S. troops in Iraq their lives.
Britain announced that it would support tougher sanctions, but there was no word from Russia and China on whether they would drop their earlier objections to stronger measures.
Iranian President Mahmoud Ahmadinejad insisted that Iran would "never" abandon its nuclear program, according to the state-run Islamic Republic News Agency.
A Dec. 23 Security Council resolution demanded an immediate suspension of the enrichment work and the construction of the Arak reactor, slapped a ban on transfers of nuclear know-how and technology to Iran, and froze the assets of 22 Iranian officials and institutions associated with the nuclear program.
Iranian compliance would end the restrictions and open the door to trade and other economic incentives and to direct talks with the United States.
But the IAEA said Iran has continued running a pilot uranium enrichment plant at Natanz and has installed hundreds of centrifuges - machines that spin uranium hexafluoride gas into enriched uranium - in an underground industrial-size facility.
Iranian officials told the IAEA that they planned to have thousands of machines operating by May, and they refused to allow IAEA inspectors to install remote monitoring equipment in the underground facility.
Iran also continued construction of the Arak reactor, which it says will be for making radioactive isotopes for medical research. But the reactor also will be able to produce plutonium for nuclear weapons, the IAEA report said.
Iran also has persisted in its refusal to answer questions about key aspects of the program that the IAEA must have answered before it can certify Tehran's claim that the program is for peaceful purposes.
"Iran has not suspended its enrichment-related activities," IAEA Director General Mohamed ElBaradei said in the report to the agency's 35-member board and the Security Council. "Without ... cooperation and transparency, the agency will not be able to provide assurances about ... the exclusively peaceful nature of that program."
State Department spokesman Tom Casey called Iran's refusal to suspend its uranium enrichment work "another missed opportunity ... to not only engage with the international community but to really do the right thing by its people."
The United States plans to seek tighter sanctions and has been discussing options informally with Security Council members for more than a week, three U.S. officials said on condition of anonymity because of the delicacy of the diplomacy.
Measures sought by the Bush administration might include a ban on international travel on some Iranian officials, the U.S. officials said.
source news : theolympian.com
U.S. officials disclosed the latest move after the International Atomic Energy Agency, the United Nations nuclear watchdog agency, said Iran was expanding an industrial-scale uranium enrichment facility and continuing to build the Arak heavy water reactor.
The United States and its European allies believe that Iran's uranium enrichment program is part of a secret effort to develop nuclear weapons, while Iran insists that the program is aimed at generating electrical power. There is ambiguity, because the same process that produces low-enriched uranium for power plants also produces highly enriched uranium fuel used in nuclear weapons.
A renewed drive for sanctions almost certainly will ratchet up tensions that are already rising after U.S. charges that Iranian-
supplied weapons have cost hundreds of U.S. troops in Iraq their lives.
Britain announced that it would support tougher sanctions, but there was no word from Russia and China on whether they would drop their earlier objections to stronger measures.
Iranian President Mahmoud Ahmadinejad insisted that Iran would "never" abandon its nuclear program, according to the state-run Islamic Republic News Agency.
A Dec. 23 Security Council resolution demanded an immediate suspension of the enrichment work and the construction of the Arak reactor, slapped a ban on transfers of nuclear know-how and technology to Iran, and froze the assets of 22 Iranian officials and institutions associated with the nuclear program.
Iranian compliance would end the restrictions and open the door to trade and other economic incentives and to direct talks with the United States.
But the IAEA said Iran has continued running a pilot uranium enrichment plant at Natanz and has installed hundreds of centrifuges - machines that spin uranium hexafluoride gas into enriched uranium - in an underground industrial-size facility.
Iranian officials told the IAEA that they planned to have thousands of machines operating by May, and they refused to allow IAEA inspectors to install remote monitoring equipment in the underground facility.
Iran also continued construction of the Arak reactor, which it says will be for making radioactive isotopes for medical research. But the reactor also will be able to produce plutonium for nuclear weapons, the IAEA report said.
Iran also has persisted in its refusal to answer questions about key aspects of the program that the IAEA must have answered before it can certify Tehran's claim that the program is for peaceful purposes.
"Iran has not suspended its enrichment-related activities," IAEA Director General Mohamed ElBaradei said in the report to the agency's 35-member board and the Security Council. "Without ... cooperation and transparency, the agency will not be able to provide assurances about ... the exclusively peaceful nature of that program."
State Department spokesman Tom Casey called Iran's refusal to suspend its uranium enrichment work "another missed opportunity ... to not only engage with the international community but to really do the right thing by its people."
The United States plans to seek tighter sanctions and has been discussing options informally with Security Council members for more than a week, three U.S. officials said on condition of anonymity because of the delicacy of the diplomacy.
Measures sought by the Bush administration might include a ban on international travel on some Iranian officials, the U.S. officials said.
source news : theolympian.com
Iran complains of nuclear bullying
Critics of Iran's nuclear program are "bullying" Iran, its current president and a former president declared Friday, as they put up a united front a day after the United Nations' nuclear watchdog issued a report that opens the way for additional sanctions against Iran.
President Mahmoud Ahmadinejad and influential former President Akbar Hashemi Rafsanjani lashed out in separate speeches Friday at Western countries and the U.N. Security Council, though without naming them directly.
Their comments appeared as senior diplomats from the five permanent Security Council members and Germany prepared to meet on Monday in London to start work on a new resolution to try to pressure Iran to suspend its nuclear program.
U.S. Undersecretary of State Nicholas Burns, who announced the London meeting in Washington, said Iran was "effectively thumbing its nose at the international community."
The speeches by Ahmadinejad and Rafsanjani appeared to show that the Iranian ruling establishment is closing ranks in the face of new measures against Iran.
Divisions emerged over Ahmadinejad's handling of the nuclear standoff following the council's adoption of limited economic sanctions against Iran in December.
Some Iranians believe Ahmadinejad has been too antagonistic of the U.S. and its allies. Rafsanjani in recent weeks has emerged as a high-level advocate of a more conciliatory stance toward the West in the nuclear dispute.
Ahmadinejad told thousands of people gathered in a northern Iranian town, "The Iranian nation has resisted all bullies and corrupt powers and it will fully defend its rights," state television quoted him as saying.
The hardline president appeared to dismiss the International Atomic Energy Agency report, which said Tehran had expanded its program of uranium enrichment and continued to build a heavy water reactor and related facilities. (Read the full report)
"If a few states do not believe that Iran's nuclear activities are peaceful, this is of no importance whatsoever," state television quoted the president as telling a rally in Fuman.
"This is the spirit of arrogance and culture of aggressive powers," the official Islamic Republic News Agency also quoted Ahmadinejad as saying during the same speech.
"If you pull back, they will push ahead but if you stand against them, because of this resistance, they will back off."
Meanwhile, the former President Rafsanjani told worshippers gathered for Friday prayers in Tehran that Western countries would fail to achieve anything by "bullying" Iran.
Rafsanjani, a high-ranking cleric, holds seats on two of Iran's most important government bodies.
"Following yesterday's report, they again began a harsh steps and threats while thinking about another resolution," Rafsanjani said in the speech broadcast live by state radio, adding "they will get nowhere this way."
The IAEA's report follows the expiration Wednesday of a 60-day grace period for Iran to halt uranium enrichment.
In a warning to the U.S. and its Western allies who want Iran to roll back its nuclear program, Rafsanjani said, "If you continue this bullying way, you will definitely make many troubles for yourselves, the world and the region."
But he also reiterated Iran's offer for talks. "We -- all of us, our officials, our leader -- are ready to provide you full assurances."
Three demands
The Security Council issued three demands to Iran when it adopted its resolution December 23 -- freeze uranium enrichment, stop building heavy water facilities and fully cooperate with the IAEA.
The U.S. and its Western allies have insisted Iran must suspend enrichment before it will enter any negotiations over its nuclear program -- a condition Tehran has rejected as it pushes ahead with developing its enrichment facilities.
Iran insists that its nuclear program is peaceful, but the U.S. and other Western countries accuse it of using it as a cover to develop weapons.
Among the permanent council members meeting in London on Monday, Britain and France are likely to join the U.S. in a call for harsher sanctions than Russia and China, which both have strong commercial ties to Tehran, will accept.
Diplomats said Thursday that new measures under consideration include a mandatory travel ban against individuals on the U.N. list, new individuals and companies subject to sanctions, additional prohibited items, economic measures such as a ban on export guarantees to Iran, and an expansion of the nuclear embargo to an arms embargo.
U.S. Undersecretary of State Burns said a new resolution was needed to "see Iran repudiated again" but said it was too soon to say what provisions the resolution might contain.
Russia's U.N. Ambassador Vitaly Churkin said he had "no substantive comment" on the IAEA report. "We should not lose sight of the goal -- and the goal is not to have a resolution or to impose sanctions," Churkin said. "The goal is to accomplish a political outcome."
Council unity
Several council diplomats have stressed the importance of maintaining council unity on a new resolution -- even if means sacrificing tougher sanctions.
Stressing the importance of unity, U.S. deputy ambassador Jackie Sanders said Thursday "we do need to ratchet up the pressure and Iran needs to see an international community that stays coordinated and showing common purpose to have them stop what they're doing in developing nuclear weapons."
French Foreign Minister Philippe Douste-Blazy echoed the importance, saying, "unity and firmness are ... the only effective instruments we have to get Iran to turn toward the international community, and away from isolation."
"We support a second resolution, to be passed unanimously by the Security Council, to continue sanctions," he said.
Two diplomats, speaking on condition of anonymity because negotiations haven't even started, spoke of an "incremental" strengthening of sanctions in a new resolution to ensure that unity is preserved.
The permanent council members believe the initial sanctions have had some positive effects. Iran now says it wants negotiations, though it still refuses to suspend enrichment.
Whether new sanctions can bring Tehran to comply with the council's demands remains to be seen.
"It's Iran's refusal to talk which right now has gotten Iran in a lot of hot water," said Burns. "Iran is increasingly isolated, and we hope Iran is going to choose negotiations."
Copyright 2007 The Associated Press.
President Mahmoud Ahmadinejad and influential former President Akbar Hashemi Rafsanjani lashed out in separate speeches Friday at Western countries and the U.N. Security Council, though without naming them directly.
Their comments appeared as senior diplomats from the five permanent Security Council members and Germany prepared to meet on Monday in London to start work on a new resolution to try to pressure Iran to suspend its nuclear program.
U.S. Undersecretary of State Nicholas Burns, who announced the London meeting in Washington, said Iran was "effectively thumbing its nose at the international community."
The speeches by Ahmadinejad and Rafsanjani appeared to show that the Iranian ruling establishment is closing ranks in the face of new measures against Iran.
Divisions emerged over Ahmadinejad's handling of the nuclear standoff following the council's adoption of limited economic sanctions against Iran in December.
Some Iranians believe Ahmadinejad has been too antagonistic of the U.S. and its allies. Rafsanjani in recent weeks has emerged as a high-level advocate of a more conciliatory stance toward the West in the nuclear dispute.
Ahmadinejad told thousands of people gathered in a northern Iranian town, "The Iranian nation has resisted all bullies and corrupt powers and it will fully defend its rights," state television quoted him as saying.
The hardline president appeared to dismiss the International Atomic Energy Agency report, which said Tehran had expanded its program of uranium enrichment and continued to build a heavy water reactor and related facilities. (Read the full report)
"If a few states do not believe that Iran's nuclear activities are peaceful, this is of no importance whatsoever," state television quoted the president as telling a rally in Fuman.
"This is the spirit of arrogance and culture of aggressive powers," the official Islamic Republic News Agency also quoted Ahmadinejad as saying during the same speech.
"If you pull back, they will push ahead but if you stand against them, because of this resistance, they will back off."
Meanwhile, the former President Rafsanjani told worshippers gathered for Friday prayers in Tehran that Western countries would fail to achieve anything by "bullying" Iran.
Rafsanjani, a high-ranking cleric, holds seats on two of Iran's most important government bodies.
"Following yesterday's report, they again began a harsh steps and threats while thinking about another resolution," Rafsanjani said in the speech broadcast live by state radio, adding "they will get nowhere this way."
The IAEA's report follows the expiration Wednesday of a 60-day grace period for Iran to halt uranium enrichment.
In a warning to the U.S. and its Western allies who want Iran to roll back its nuclear program, Rafsanjani said, "If you continue this bullying way, you will definitely make many troubles for yourselves, the world and the region."
But he also reiterated Iran's offer for talks. "We -- all of us, our officials, our leader -- are ready to provide you full assurances."
Three demands
The Security Council issued three demands to Iran when it adopted its resolution December 23 -- freeze uranium enrichment, stop building heavy water facilities and fully cooperate with the IAEA.
The U.S. and its Western allies have insisted Iran must suspend enrichment before it will enter any negotiations over its nuclear program -- a condition Tehran has rejected as it pushes ahead with developing its enrichment facilities.
Iran insists that its nuclear program is peaceful, but the U.S. and other Western countries accuse it of using it as a cover to develop weapons.
Among the permanent council members meeting in London on Monday, Britain and France are likely to join the U.S. in a call for harsher sanctions than Russia and China, which both have strong commercial ties to Tehran, will accept.
Diplomats said Thursday that new measures under consideration include a mandatory travel ban against individuals on the U.N. list, new individuals and companies subject to sanctions, additional prohibited items, economic measures such as a ban on export guarantees to Iran, and an expansion of the nuclear embargo to an arms embargo.
U.S. Undersecretary of State Burns said a new resolution was needed to "see Iran repudiated again" but said it was too soon to say what provisions the resolution might contain.
Russia's U.N. Ambassador Vitaly Churkin said he had "no substantive comment" on the IAEA report. "We should not lose sight of the goal -- and the goal is not to have a resolution or to impose sanctions," Churkin said. "The goal is to accomplish a political outcome."
Council unity
Several council diplomats have stressed the importance of maintaining council unity on a new resolution -- even if means sacrificing tougher sanctions.
Stressing the importance of unity, U.S. deputy ambassador Jackie Sanders said Thursday "we do need to ratchet up the pressure and Iran needs to see an international community that stays coordinated and showing common purpose to have them stop what they're doing in developing nuclear weapons."
French Foreign Minister Philippe Douste-Blazy echoed the importance, saying, "unity and firmness are ... the only effective instruments we have to get Iran to turn toward the international community, and away from isolation."
"We support a second resolution, to be passed unanimously by the Security Council, to continue sanctions," he said.
Two diplomats, speaking on condition of anonymity because negotiations haven't even started, spoke of an "incremental" strengthening of sanctions in a new resolution to ensure that unity is preserved.
The permanent council members believe the initial sanctions have had some positive effects. Iran now says it wants negotiations, though it still refuses to suspend enrichment.
Whether new sanctions can bring Tehran to comply with the council's demands remains to be seen.
"It's Iran's refusal to talk which right now has gotten Iran in a lot of hot water," said Burns. "Iran is increasingly isolated, and we hope Iran is going to choose negotiations."
Copyright 2007 The Associated Press.
Czechs Reject Uran Offer to Buy Stake in Uranium Mine (Update1)
The Czech Republic turned down an offer by Uran Ltd., an Australian uranium explorer, to purchase a stake at the Rozna uranium mine, Europe's only operating mine for the material used as nuclear fuel.
Uran made two offers to participate in exploration and mining at Rozna, which is operated by state-owned mining company Diamo SP. The larger offer was for an investment of 640 million koruna ($29.7 million), which would have given the Australian company the rights for half of the profits at the mine, Czech Industry Minister Martin Riman said in an e-mailed press release.
Riman, who visited the mine today, said the company's involvement is not needed because the rising price of uranium means Diamo can make the necessary investments without a partner. Increasing global demand for uranium boosted prices more than 10- fold in past five years, partly as prices of gas and oil grew. That renewed investors' interest in mining of the commodity.
``The Uran offer is interesting but we will secure mining and exploration ourselves,'' Riman said. ``Because of growing prices, the mining of uranium is lucrative even without any state aid. Therefore Diamo will continue mining and exploration, with costs covered from existing returns.''
Demand for nuclear energy also increased as companies and governments work to cut emissions of carbon dioxide and curb imports of fossil fuels.
The price of uranium has doubled to $75 a pound in the past year.
Closure Reversed
The Czech mine, located in the south-east of the country, was scheduled to close in 2008, in line with a Czech government resolution. Riman said today he asked the company to prepare a document for the government on a possible continuation of mining and on exploration of new deposits. He said a detailed exploration of deposits located below the existing mine would cost 250 million koruna.
``The final decision on whether to continue in further mining and exploration will be left to the government,'' he said in the press release.
Diamo was seeking an investor to help explore new deposits at the Rozna site and already offered a participation to CEZ AS, the utility that operates Czech nuclear plants.
The Czech Republic has produced a total of 108,000 tons of the metal since beginning uranium mining in 1946, and has become the world's sixth largest producer, according to Diamo's Web site.
In 1989, the government started to phase out the industry. Diamo currently produces about 300 metric tons of uranium annually from the Rozna mine.
To contact the reporter on the story: Marek Miler in Prague at m.miler@bloomberg.net
source news : bloomberg.net
Uran made two offers to participate in exploration and mining at Rozna, which is operated by state-owned mining company Diamo SP. The larger offer was for an investment of 640 million koruna ($29.7 million), which would have given the Australian company the rights for half of the profits at the mine, Czech Industry Minister Martin Riman said in an e-mailed press release.
Riman, who visited the mine today, said the company's involvement is not needed because the rising price of uranium means Diamo can make the necessary investments without a partner. Increasing global demand for uranium boosted prices more than 10- fold in past five years, partly as prices of gas and oil grew. That renewed investors' interest in mining of the commodity.
``The Uran offer is interesting but we will secure mining and exploration ourselves,'' Riman said. ``Because of growing prices, the mining of uranium is lucrative even without any state aid. Therefore Diamo will continue mining and exploration, with costs covered from existing returns.''
Demand for nuclear energy also increased as companies and governments work to cut emissions of carbon dioxide and curb imports of fossil fuels.
The price of uranium has doubled to $75 a pound in the past year.
Closure Reversed
The Czech mine, located in the south-east of the country, was scheduled to close in 2008, in line with a Czech government resolution. Riman said today he asked the company to prepare a document for the government on a possible continuation of mining and on exploration of new deposits. He said a detailed exploration of deposits located below the existing mine would cost 250 million koruna.
``The final decision on whether to continue in further mining and exploration will be left to the government,'' he said in the press release.
Diamo was seeking an investor to help explore new deposits at the Rozna site and already offered a participation to CEZ AS, the utility that operates Czech nuclear plants.
The Czech Republic has produced a total of 108,000 tons of the metal since beginning uranium mining in 1946, and has become the world's sixth largest producer, according to Diamo's Web site.
In 1989, the government started to phase out the industry. Diamo currently produces about 300 metric tons of uranium annually from the Rozna mine.
To contact the reporter on the story: Marek Miler in Prague at m.miler@bloomberg.net
source news : bloomberg.net
Cramer's 'Mad Money' Recap: Uranium, Your Portfolio
"Don't let living in the great U.S.A. lull you into missing out on the future," Jim Cramer told viewers of his "Mad Money" TV show Thursday.
There is a "sad bias" against nuclear power in this country, and while Americans protest nuclear power, the rest of the world is embracing it, "leaving us in the dust," Cramer said.
This means it's time to get into some uranium, he said. In the last few years, uranium has "skyrocketed" to $75 a pound, and the price is increasing fast. Energy Metals (EMU - Cramer's Take - Stockpickr) is an "unexploited" stock that Cramer believes should benefit from the price increase of this radioactive element.
He called Energy Metals an "early stage" company that's speculative and not for the "faint of heart." The Canada-based company is young, Cramer said, with no revenue. But while there's some risk involved, he believes buying Energy Metals could pay off.
Plus, with the recent flood that knocked out one of Cameco's (CCJ - Cramer's Take - Stockpickr - Rating) biggest facilities, it makes sense for that company to buy Energy Metals, Cramer said.
Energy Metals is the uranium play people should get into, he said, while warning people to use limit orders and not pay more than $12 a share for this stock. Energy Metals closed at $11.91 Thursday.
"I heart nukes, and I heart uranium," Cramer said.
continue this news click here
There is a "sad bias" against nuclear power in this country, and while Americans protest nuclear power, the rest of the world is embracing it, "leaving us in the dust," Cramer said.
This means it's time to get into some uranium, he said. In the last few years, uranium has "skyrocketed" to $75 a pound, and the price is increasing fast. Energy Metals (EMU - Cramer's Take - Stockpickr) is an "unexploited" stock that Cramer believes should benefit from the price increase of this radioactive element.
He called Energy Metals an "early stage" company that's speculative and not for the "faint of heart." The Canada-based company is young, Cramer said, with no revenue. But while there's some risk involved, he believes buying Energy Metals could pay off.
Plus, with the recent flood that knocked out one of Cameco's (CCJ - Cramer's Take - Stockpickr - Rating) biggest facilities, it makes sense for that company to buy Energy Metals, Cramer said.
Energy Metals is the uranium play people should get into, he said, while warning people to use limit orders and not pay more than $12 a share for this stock. Energy Metals closed at $11.91 Thursday.
"I heart nukes, and I heart uranium," Cramer said.
continue this news click here
China, Iran Foreign Ministers Discuss Nuclear Issue - Xinhua
China's foreign minister told his Iranian counterpart Friday that Beijing backed a diplomatic solution to resolve the international dispute over Iran's nuclear program, the Chinese government's news agency reported.
China's Li Zhaoxing conveyed Beijing's desire "to peacefully resolve" the nuclear issue in a telephone conversation with Iranian Foreign Minister Manouchehr Mottaki, the Xinhua News Agency reported.
The brief report gave no further details of their discussions on the dispute, in which Iran has defied Western and U.N.-pressure to stop enriching uranium, which can be used for nuclear power or nuclear weapons.
The International Atomic Energy Agency reported Thursday that Iran hadn't only failed to abide by a Feb. 21 deadline set by the U.N. Security Council to suspend enrichment, it had expanded the program.
Among the council members, China, which is a large customer for Iranian oil and gas, and Russia have been reluctant to punish Iran while the U.S. and European allies have called for tougher measures.
(END) Dow Jones Newswires
02-23-070759ET
Copyright (c) 2007 Dow Jones & Company, Inc.
China's Li Zhaoxing conveyed Beijing's desire "to peacefully resolve" the nuclear issue in a telephone conversation with Iranian Foreign Minister Manouchehr Mottaki, the Xinhua News Agency reported.
The brief report gave no further details of their discussions on the dispute, in which Iran has defied Western and U.N.-pressure to stop enriching uranium, which can be used for nuclear power or nuclear weapons.
The International Atomic Energy Agency reported Thursday that Iran hadn't only failed to abide by a Feb. 21 deadline set by the U.N. Security Council to suspend enrichment, it had expanded the program.
Among the council members, China, which is a large customer for Iranian oil and gas, and Russia have been reluctant to punish Iran while the U.S. and European allies have called for tougher measures.
(END) Dow Jones Newswires
02-23-070759ET
Copyright (c) 2007 Dow Jones & Company, Inc.
Subscribe to:
Posts (Atom)