Uranium update - RIO Kintyre sale - Aussie Stock Forums

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  1. #1

    Default Uranium update - RIO Kintyre sale

    Hi guys,

    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
    Note: I am not a Financial Adviser, nor are any of my posts intended to be financial advice, they merely express my own opinions

  2. #2

    Default Re: Uranium update - RIO Kintyre sale

    Yeah YT, Kennas posted it on the Bannerman thread today too.

    Perhaps they are backing a change of heart on U mining in the longer term future and are just hedging their bets that uranium will be in hot demand in the future

    Throw enough money at anyone and amazing things can happen..

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