CUY may have big potential, any suggestions?
CUY may have big potential, any suggestions?
CUY--Another U baby in the world class Curnamone Craton U ranium province of Northeastern SA,over 5000skm uranium exploration rights, and the recent drilling results:
5.75m : 0.03%U;
2.6m : 0.112%U;
Maybe this baby got huge potential.
CUY--Soaring, with the drilling results coming ...
CUY annual report released :
Indications from Curnamona Energy current drilling is that it is in process of outlining a substantial in-situ
leach uranium deposit at the Oban prospect, where there is a large potential resource target area based on
historic drilling. Rising world uranium prices means that formerly uneconomic, palaeochannel sand hosted
uranium prospects, such as Oban, need to be viewed in a new light. With a seven-fold increase in the uranium
price since these prospects were discovered, the economics of profitably exploiting such deposits by low
capital in-situ leach methods has been transformed. Accordingly, Curnamona Energy抯 primary focus in the
immediate future will be in drilling out viable in-situ leach uranium resources at Oban and elsewhere that canbe processed by a series of innovative, low capital modular processing plants."
Curnamona Energy Limited (揅urnamona Energy? holds exploration rights over more than 5000 square
kilometres of world class Tertiary palaeochannel terrain in the northeast of South Australia. The Company
embarked on a systematic exploration effort during the year, utilising its drilling and logging equipment on
an almost continuous basis to test various high priority palaeochannel uranium targets.
Noteworthy success was achieved at the Oban prospect with confirmation of economic grades and widths of uranium mineralisation hosted by pyritic sands, and also within the Yarramba palaeochannel downstream from the Honeymoon deposit. With the seven-fold increase in uranium prices since these prospects were originally discovered, the economics of profitably exploiting such uranium mineralisation by low capital insitu leach methods is very positive and will be vigorously pursued by Curnamona Energy.
Curnamona uncovers more uranium at Oban
Wednesday, 8 November 2006
URANIUM explorer Curnamona Energy says the latest drilling at its Oban prospect, located near the Honeymoon deposit in South Australia, has continued to uncover significant intersections in channel sands.
Curnamona said of the 23 holes sunk at the prospect, uranium mineralised intervals ranging between 1m and 7m were uncovered, with grades of up to 0.4% uranium oxide. The best result was 5.4m at 0.082%.
The company said it had now uncovered an area of 169,000 square metres of uranium mineralised palaeochannel sands, with drilling completed over the area at 40-80m drill spacing.
Curnamona has previously described Oban as a classical overbank sand deposit that has trapped organic debris in what might have been a backwater adjacent to the main river channel.
The company holds tertiary and palaeochannel uranium exploration rights over 5000sq.km in the Curnamona Craton of South Australia and is 50.6%-owned by Havilah Resources.
Shares in Curnamona fell 1c (1.4%) to 71c in morning trade.
Greetings from Germany!
Curnamona has big potential - as two independent researches underlinded:
Far East Capital
are very positive!
I am in with 10k.
CUY share price up 50% on 14-feb news they are going to trial a treatment plant that could be scaled up to 40tpa (yes forty tonnes!!)
Thats only about $10m at US$85/lb??
Sounds a bit odd.
Any thoughts on CUYs plans?
They say they have $70m now (implies 292t of U - altho no JORC yet), but it could be ten times higher, ie 2920t of U.
But they also say a plant could treat 40 tpa => it will take 70 years to mine the deposit.
However I guess as U price goes up this approach may become more common for the easily leached deposits...
Now 1.61 up 18% today - only got these via HAV but should see that run a bit more...
I noticed the ramping sp and did some research, including the investor presentation.....this seems to be the [mostly] undiscovered uranium stock in the hot 4mile area of SA....and they are doing more drilling than anybody else except Equinox....impressive share structure is very important....enough cash for '07 season, so no immediate dilution....in-situ [ISR] mining is environmentally friendly, compared with others who say they are opting for underground mining, which is also much more capital intensive.....
Impressed with mngmnt.s aggressive style, experience, expertise....
Hope I can grab a few shares before it goes much higher...the future looks immense, esp. with all the current talk by the SA Premier...good publicity..
whats up_? trading halt... anyone in the know?
HAV which owns 50% has risen 13% today which suggest something positive
Trading halt requested by the co.
Newz to follow, but nothing yet....
CUY has more than doubled since its breakout above its 20dma.....
Very heavy buying today, for an issue with tight share structure....
newz after the halt has shares up over 30%....JPMorgan has bought 3.2 million shares of CUY....
Note that the trading of about 400,000 shares today has sent the price soaring....proof of the enormous leverage in this play....THAT'S what I'm talking about!...
Ann re Commonwealth approval to undertaken in situ leach trial - now for State (SA) approvals
I had to pay US 2.04, but I still look at CUY as the most undervalued of the SA explorers....shares having a good day....
I believe CUY will become better known and be taken more seriously as the co. progresses with the permitting process toward well testing....
CUY holds uranium exploration rights over an area in excess of 6000 sq. k's.
[2366 sq. miles] in the world class Curnamona Craton uranium province, which is host to the Beverley and Honeymoon in-situ leach deposits....
the top 20 shareholders own 65% of the 71 million shares....
Keith Robert Johnson
BSc(Hons), PhD, FAusIMMDr Bob Johnson, a geologist, is one of the world’s leading practitioners of the application of computers to geological modelling and mine planning.
His company, Maptek Pty Ltd, is a major supplier of technical mining software, with a network of offices across Australia, North and South America, Africa and Europe marketing the interactive VULCAN mining system. This experience has provided a broad understanding of orebodies and the role of 3D geometry in structural geology.
Dr Johnson, a resident of Adelaide, is a Fellow of the Australasian Institute of Mining and Metallurgy and a Member of the American Society of Mining Engineers. He is also Chairman of Curnamona Energy Limited.
Christopher William Giles
BSc(Hons), PhD, MAIG
Dr Chris Giles is an experienced geologist having supervised exploration programmes for a variety of organisations all over the world.
During his career he has worked on exploration teams that have been directly responsible for the discovery of six operating gold mines. Prior to joining Havilah, he was a joint founder and investor in East African Gold Mines Limited, responsible for ground selection and supervising initial exploration programmes that resulted in the discovery of two substantial gold deposits in the Mara region of Tanzania, which are currently in production.
Dr Giles is a resident of Adelaide and a Member of the Australian Institute of Geoscientists.
Mr Kenneth Graham Williams
B.Econ (Hons), M Appl Fin
Mr Ken Williams has extensive experience in mining finance, complementing the technical skills of the other directors.
He has previously held roles in the treasury operations at Qantas Airways Limited and Normandy Mining Limited, before becoming Chief Financial Officer of Normandy. Until March 2003, Mr Williams was Group Executive Finance & Business Management at Newmont Australia Limited.
Mr Williams is also a Director of ASX listed company Advanced Magnesium Limited and Queensland Cotton Holdings Limited..Mr Williams is a resident of Adelaide and a member of the Australian Institute of Company Directors and the Finance and Treasury Association. He brings a strong financial background to the Board.
Curnamona the next Aussie U producer? --
With their aggressive mangement. I wouldn't be surprised.....
Shares have ramped from .89, when I 1st took notice, to 2.69 [+202%] in this discovery phase for investors.....and it's STILL undervalued imo...
13 Apr 2007 2.69 14.47% 2.69 2.26 506,761
12 Apr 2007 2.350 8.29% 2.370 2.100 225,568
11 Apr 2007 2.170 -9.58% 2.420 2.020 384,450
10 Apr 2007 2.400 28.69% 2.730 2.000 560,079
04 Apr 2007 1.865 17.3% 1.870 1.600 475,694
03 Apr 2007 1.590 18.66% 1.700 1.340 461,289