Anyone see the RIO ann that is selling its Kintyre Uranium deposit for $495m USD?
This puzzles me for 2 reasons
1. Kintyre has a JORC 13Mt's@ 0.028% U = 80M lb's U approx, so at $495m US that = $6/lb U which is 10% of the current spot price, but the mkts are weak surely they could have got it cheaper? Cameco are paying top dollar
2. Its in W.A. so it won't be mineable for 500years so long as the Labour Govt rule the roost
Anyway I think its very very interesting as perhaps it sets a new benchmark price for U deposits world wide and shows that even in all this turmoil, quality U deposits will be sought by the BIG BOYS