Uranium hits $120, France loses control and Africa's U308 gold rush...
By Christian DeHaemer
It was reported in yesterday’s Wall Street Journal that France’s new president Nicolas Sarkozy will be closing the “Cellule Africaine” the secret agency that kept its former African colonies in line through bribery, coups and covert military action.
I’m not sure that this is the end of the French resource monopoly in North Africa, but there is a flurry of activity on the continent by new global forces in a way that hasn’t been seen before.
There are reports just today concerning uranium, yellowcake, U308 and the dark continent…
Southampton Ventures (SV.V) has been granted four uranium exploration permits in Niger, West Africa, totaling about 2,000 square kilometers. The permits are valid for an initial three-year period and confer the right to any minerals obtained during exploration and test work. Niger has been producing uranium for 50 years, but many areas haven't been properly explored.
Forsys Metals Corp. (FSY.TO) put our a press release saying that its “prefeasibility” study for its Valencia uranium project in Namibia is "extremely solid" with near-term production in sight.
Forsys’s CEO Duane Parnham said, "We believe Valencia is an extremely solid project and one of only a few significant uranium deposits today with near term production visibility,"
The capital cost of the proposed project at $171-million and says a proposed plant would produce 2.4 million pounds of uranium a year over a 12-year mine life.
The share price has been flat since mid-February but the continuing ramp-up in uranium prices coupled with new sources of mining should bode well for the share price.
All the best,
Christian DeHaemer, Editor,American Capitalist
| |