Uranium in WA: Labor may lose election

[Garpal Gumnut]

With the good showing of the CLP in the NT election , can we expect a similar or greater swing in WA in a few weeks time?

I'll be following any Uranium stocks with an interest in WA or the NT quite closely from here on in.

My tips are PDN, RIO, BHP and ERA. because of their good cash flows and tenements in the north and west.

Anyone up to speed on the tiddlers in WA likely to have a run if uranium mining gets the go ahead in WA?

gg

 

[SM Junkie]

Re: Uranium in WA. Labor may lose election.

Agree it is certainly worth watching the WA elections, if Liberal get in then it is highly likely that Uranium mining will get the go ahead.

 

[kpgduras]

Re: Uranium in WA. Labor may lose election.

Agree it is certainly worth watching the WA elections, if Liberal get in then it is highly likely that Uranium mining will get the go ahead.

Have a read of this Bloomberg article - http://www.bloomberg.com/apps/news?pid=20601080&sid=auYGlRawWvfI&refer=asia

From the article is the following quote
"The Liberals want to open the state to uranium miners such as Cameco Corp., the world's biggest producer, and BHP Billiton Ltd".

Are there any other companies that will benefit if Uranium mining is given the go-ahead?

Cheers
Kpgduras

 

[grace]

Re: Uranium in WA. Labor may lose election.

Have a read of this Bloomberg article - http://www.bloomberg.com/apps/news?pid=20601080&sid=auYGlRawWvfI&refer=asia

From the article is the following quote
"The Liberals want to open the state to uranium miners such as Cameco Corp., the world's biggest producer, and BHP Billiton Ltd".

Are there any other companies that will benefit if Uranium mining is given the go-ahead?

Cheers
Kpgduras

Some info I have (although I haven't studied the industry since it went belly up)

Kintyre (RIO now Camec) This is 36 000 tonne U3O8 at 0.15 to 0.4%. Not too bad.

Yeelirrie (BHP) This is 52 500 tonne U3O8 at 0.15%....not a bad deposit at all!

Mulga Rock (Uranium Equities LTD as of 2006 with 15.6% owned by Laramide Resources Ltd)

Manyingee (Paladin)

Oobagooma (Paladin)

Lake Way & Centipede (Nova Energy Ltd)

Lake Maitland (Mega Uranium Ltd)

Thatchers Soak

I have resource quantities and grade if anyone is specifically interest.

 

[kpgduras]

Re: Uranium in WA. Labor may lose election.

Agree it is certainly worth watching the WA elections, if Liberal get in then it is highly likely that Uranium mining will get the go ahead.

Some info I have (although I haven't studied the industry since it went belly up)

Kintyre (RIO now Camec) This is 36 000 tonne U3O8 at 0.15 to 0.4%. Not too bad.

Yeelirrie (BHP) This is 52 500 tonne U3O8 at 0.15%....not a bad deposit at all!

Mulga Rock (Uranium Equities LTD as of 2006 with 15.6% owned by Laramide Resources Ltd)

Manyingee (Paladin)

Oobagooma (Paladin)

Lake Way & Centipede (Nova Energy Ltd)

Lake Maitland (Mega Uranium Ltd)

Thatchers Soak

I have resource quantities and grade if anyone is specifically interest.

Thanks for the info Grace. Appreciated.

Kpgduras

 

[baja]

Re: Uranium in WA. Labor may lose election.

I have resource quantities and grade if anyone is specifically interest.

mmm, I would be interested, seeing as though the liberals have just got up. Isnt the selling of Uranium to foreign countries still ultimately controlled by the Feds anyway?

 

[Garpal Gumnut]

Re: Uranium in WA. Labor may lose election.

mmm, I would be interested, seeing as though the liberals have just got up. Isnt the selling of Uranium to foreign countries still ultimately controlled by the Feds anyway?

Great news the Libs are up with the Nats help. Uranium should be a goer in the West.

http://www.thewest.com.au/default.aspx?MenuID=77&ContentID=97695

Labour federally may stymie the contracts, they have already reneged on the Indian deal. They only have just over 2 years left, so be thankful for small mercies.

gg

 

[ChomChom]

That's great news!
Now let's unleash the Uranium bull!

 

[ChomChom]

Article from http://www.theaustralian.news.com.au/story/0,25197,24345206-643,00.html

Liberal WA victory unlocks uranium riches
Cath Hart | September 15, 2008

THE pro-uranium mining stance of Colin Barnett's newly installed WA Government will spark a significant drilling program in the state that is likely to deliver billions of dollars to both state and federal coffers, according to analysts and the industry.

Uranium miners with projects in Western Australia have been on a knife edge since the poll, waiting to see whether the pro-uranium Nationals would support the pro-uranium Liberal Party or form an alliance with the anti-uranium Labor Party.

Liberal leader Colin Barnett was yesterday announced as Premier after the Liberals secured the support of the Nationals in a move that will launch a new chapter for uranium prospects in the state.

The Australian Uranium Association has conservatively estimated that uranium mining in WA would increase the gross state product by $3.2 billion in net present value terms to 2030 and provide an extra $200 million in royalties over the same period.

The association also estimates that WA's export values would be $4 billion higher and Australia's GDP would be $2.25 billion higher to 2030 with uranium mining in the state.

During the election campaign, former Labor premier Alan Carpenter pledged to legislate against uranium mining, prompting Canadian explorer Mega Uranium to threaten to pull out of Australia.

Mega yesterday forecast a fast-tracking of their Lake Maitland project after learning that the Nationals would support the Liberals to form government.

Mega vice-president of project development Peter McNally said the pro-uranium Government would reassure investors, explorers and international customers.

"It will lift their confidence in WA a hell of a lot -- you'd expect a lot of money to be invested now," Mr McNally said.

The most advanced uranium projects in WA include BHP Billiton's Yeelirrie project, the Cameco-Mitsubishi's Kintyre joint-venture, Energy and Minerals Australia's Mulga Rocks and Paladin's Oobagooma/Yampi and Manyingee projects.

According to the Australian Bureau of Agriculture and Resource Economics, Australia exported 10,151 tonnes of uranium oxide or yellowcake worth $887 million in 2007-08, a 5.8 per cent increase on 2006-07 exports.

UBS analysts said last week that a Liberal-National government in WA would be "positive for uranium stocks with significant assets in the state" and would spark a "significant drilling program".

But they warned that the majority of deposits were still at an early stage and lacked a JORC-compliant resource. They said they would require significant exploration to firm up the potential resource.

"Potential first production would be unlikely within a five-year time frame, due to time needed for exploration, permitting and construction," the UBS analysts said.

Despite renewed enthusiasm for uranium exploration in the west, the Australian Uranium Association said the extended ban meant WA lacked "the policy and regulatory infrastructure and expertise".

"You would need to build that capacity within the resources department, the environment department and in the indigenous affairs department as well," said the association's executive director, Michael Angwin.

"The ban in WA has left a legacy that will take some time to overcome. But there's scope to make quick gains. You can develop the policy and regulation infrastructure faster than you can develop mines.

"The development of mines would take three or four years and you could do the policy and regulatory infrastructure in 12 to 18 months."

 

[ChomChom]

Not the best time for investing!?
Good news, bad news, the market doesn't care... everything get smashed anyway...

 

[Spaghetti]

Toro Energy did well today based only on a press release relating to WA election and impact on uranium mining and a bref update of their operations. Closed up 25%. refer ASX ann. I do not hold


May have to dig up all the old uranium stock threads just in case this does trigger a buying frenzy.

 

[baja]

Toro Energy did well today based only on a press release relating to WA election and impact on uranium mining and a bref update of their operations. Closed up 25%. refer ASX ann. I do not hold


May have to dig up all the old uranium stock threads just in case this does trigger a buying frenzy.

yes Toro topped at $0.30 today and settled back down to $0.27...I got in at $0.17, so not sure what to do right now. Tomorrow will be interesting to say the least.