Uranium Resources begins key drilling programme at Mtonya in Tanzania

Uranium Resources (LON:URA) has in progress its key 2012 drilling programme on the Mtonya Project in southern Tanzania.The programme will look to build on a 2011 programme that recognized multiple uranium roll-front type deposits at depth.Tom Elder, an analyst at broker WH Ireland said newly that the 100 per cent-owned Mtonya could be a “company making” project, if it proves to be like to Uranium One’s Nyota deposit, which is in a similar part of Tanzania.

This year’s drilling will include 20,000 metres of open-hole and diamond-core drilling.The aims of the programme are to test the roll-fronts recognized in tier 2 at depths of 240-260 metres; identify and found geometries for roll-fronts in tier 1 at depths of 170-200 metres; and test for uranium mineralisation in tier 3 at depths of 300-320 metres.

Uranium Resources will use numerous drill rigs simultaneously with part of the fleet to target tight-spaced drilling with a view of establishing a maiden resource estimate. The other rigs will be extending the previously known roll-fronts laterally.The 2011 drilling and results of the recent mineralogical studies advise similarities with the well-known sandstone-hosted roll-front uranium deposits of Kazakhstan and the USA, the company added.

Forte Energy extends uranium mineralisation at A238 prospect in Mauritania

Forte Energy (LON:FTE, ASX: FTE) said initial assays from an ongoing 10,000 metre reverse movement drilling program at the A238 prospect in Mauritania confirm mineralised extensions to the northwest of the prospect and at depth under the existing uranium resource.

Initial assays for 36 of the 55 holes drilled to date show prominent intersections of 25 metres at 357 parts per million (ppm) uranium, 10 metres at 510ppm uranium, 8 metres at 312ppm uranium and 22 metres at 320ppm uranium.Of the holes drilled at the A238 prospect, 90 per cent have encounter mineralisation.

Forte expects to announce a supply upgrade for the prospect in the first quarter. The JORC resource for A238 stands at 14.9 million pounds of U3O8. Assays for the exceptional 19 drill holes are due shortly. The program was aimed at drilling outside of the accessible inferred supply and testing the potential mineralised extensions both at depth and along strike.

Uranium miner faces Chinese power play

THE corporate watchdog says a Chinese state-owned power business has to launch a $2.2 billion takeover for Australian uranium company Extract Resources if the Chinese group is winning in its bid for Extract's 43 per cent shareholder.

China Guangdong Nuclear Power Group Uranium Resources Company launched a gracious invasion bid overnight on the London Stock Exchange offering £632 million ($A979 million) for Extract's main shareholder, Kalahari Minerals, which owns 43 per cent.

Under Australia's stock exchange rules CGNPC would then have to pursue the Kalahari offer with a bid for Extract because it would own additional than 20 per cent of its shares.Perth-based Extract said yesterday that CGNPC would be necessary to offer shareholders $8.65 a share, as it had established a ruling from the Australian Securities and Investments Commission that CGNPC had to make a bid under Australian regulations.

Kalahari Minerals: bid for uranium firm back on?

The takeover bid for Namibia-focused uranium firm Kalahari Minerals (LON:KAH) will quickly be back on, according to Ambrian Partners analyst Duncan Hughes, now with the purpose of three months have elapsed since the UK Takeover Panel forbade Chinese firm CGNPC-URC from falling its 290 pence per share offer for Kalahari to 270 pence per share.

On May 10 the Takeover Panel ruled so as to China Guangdong Nuclear Power Group – Uranium Resources Co , would not be permitted to announce an present for Kalahari for a price of less than 290 pence per share for three months at the time, Proactive Investors reported so as to Rio Tinto, which owns the neighbouring Rossing uranium mine, might also be a rival suitor for Kalahari.

Ambrian’s Hughes now believes that an offer of 270 pence per share might be imminent, “I think that something will contain to happen here,” he told Proactive Investors, “If not CGNPC, then it will be Rio” An important signal for a renewed takeover attempt might be CGNPC’s announcement this week that it is issuing approximately £283 million in short-term bonds, with a maturity of 366 days, on the interbank market, although it said that the proceeds will be worn to “replenish the firm’s working capital and repay loans”.

Resource Star 30% uranium resource boost to 6Mlb at Livingstonia in Africa

Resource Star (ASX: RSL) contain boosted by 30% the uranium resource to 6 million pounds at the Livingstonia Uranium Project combined venture in Malawi. The Resource is; 8.3 million tonnes at 325 ppm eU3O8 for 6.0 million pounds of U3O8 (or 2,700 tonnes).What is so significant about the upgrade is just 1500 metres of drilling extra around 1.4 million pounds of uranium. More significantly, the company has generated a great increase in the high grade core of the deposit.

Multiple horizons of sandstone-hosted uranium comprise been defined, with possible fault controlled trends where the stack zones merge to supply near-continuous mineralization, The best meeting point to date from LBPE 103 is; 33.95 metres at 338 ppm eU3O8.

Resource Star will now assume an integrated geological study of past data and a desktop conceptual development study to finalise strategy for the next round of drilling and testwork.Supporting this extra work is that the independent review completed that there is excellent potential to recognize additional resources.

Powerful entrance for Uranium ETF

Global X's newest ETF, Global X Uranium (URA), soared 11% Monday, outpacing all other ETFs, after the metal's mark price jumped 11% over the weekend to $57.50 a pound. Cameco (CCJ), the world's biggest producer, raised its production outlook. The radioactive metal, used mostly to generate electricity, has surged 29% this year. A mining analyst, who refuses to be named, said Energy Resources of Australia and Cameco have been trade the metal on the spot market because they have not been make enough to meet their extended term obligations. Hedge funds have caught on and skip on the buying bandwagon.

Kazakhstan, the world's leading uranium miner, is slow production to command higher prices at a time when takeout ore from mines has gotten harder. Uranium is not formally traded on relations as are oil and gold. Deals are made between private businesses for real physical delivery. The Uranium Energy (UEC) rocketed 33%, Uranium Resources (URRE) 32%, Uranerz Energy (URZ) 15% and Denison Mines (DNN) 12% on Monday. None of these small miners, trade for less than 5 a split, has ever reported a profit. Yet they've soared 44%-178% this year on civilizing outlooks.

Cameco's CEO on Monday said the company's full year output manufacture rose to 22 million pounds from 21.5 million and that it's on path to double by 2018. Meanwhile, the Canadian company lowers its capital expenses outlook for fiscal 2010. Third quarter earnings fell 13% on senior exploration costs and a strong Canadian dollar. Sales fell 15% from a year previous on a 33% decrease in sales volume. Cameco shares climbed 7% Monday to a 52 week tall of 35.74 in more than four times average trade. URA, the first pure play for the metal, holds 23 companies occupied in mining, refining, exploration and creation equipment for the uranium industry.

Uranium Energy Corporation (UEC) Links Growth to Top Management Team

Uranium Energy Corp., a U.S. uranium exploration and development company using a giant uranium exploration database to goal properties in the Southwest, draws upon the diverse talents of a remarkable management team to take advantage of the burgeoning require for uranium. Mr. Adnani, since January of 2005, has a strong entrepreneurial background. He founded Blender Media, a Vancouver based company providing planned marketing and financial communications services to public companies and investor in mineral exploration, mining, and energy.

It was named one of the fastest rising companies in Canada. Earlier he co-founded Fort Sun Investments, a leading strategic marketing firm, providing services to little and mid-cap public companies. Mr. Anthony is internationally recognized specialist in the uranium industry, has been a professional engineer for 36 years. He is celebrated for being a pioneer in the development of the ISR process for uranium removal, a less costly and less environmentally damaging technique, and has been involved with every famous ISR uranium mine in the world.

He was a senior officer and director of the public company Uranium Resources, responsible for all technological aspects of mine development, and has provided technical services to many other companies. He is a sought-after speaker on uranium and connected issues. Mr. Obara has been a financial and administrative advisor to a number of private and public companies. He has served as the CFO and director of two publicly held investigate and technology companies, and was involved in their restructuring, organizing, and management.