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Aflease and Southern Cross Boards Approve Merger
By Charlotte Mathews
17 Sep 2005 at 11:28 AM EDT

CAPE TOWN (Business Day) -- Aflease Gold & Uranium Resources [JSE:AFL] and Southern Cross Resources [TSX:SXR], which plan to merge to create SXR Uranium One, have completed due-diligence reports and secured board approvals.

They said yesterday that they had signed a definitive agreement for Aflease to acquire Southern Cross.

However, the transaction still required the approval of each company’s shareholders and of regulatory authorities.

If these were secured, the merger should be completed by the end of November.

The merger, announced in July after months of speculation, will be achieved through Southern Cross shareholders receiving a new consolidated share for five they hold, and Aflease shareholders receiving 0.18 shares in the newly merged entity for each Aflease share they hold.

As announced, this is equivalent to a preconsolidation ratio of 0.90 for Aflease. After consolidation, SXR Uranium One will have 83.3-million shares in issue.

Southern Cross owns three undeveloped uranium properties in Australia: the Honeymoon project and the Goulds Dam and Karkarook exploration projects.

A decision on developing Honeymoon will be taken after the merger.

The group has a joint venture interest in a uranium exploration project in Sasketchewan, Canada.

Aflease owns the Dominion and Rietkuil uranium properties in SA, as well as the Bonanza South and Modder East gold mines. A bankable feasibility study is under way at Dominion.

Aflease CE Neal Froneman reacted emphatically this week to comments reported on industry website miningmx.com by established uranium miner Paladin at the recent Africa Down Under conference in Perth.

Paladin MD Jack Borshoff said the South Africans were unlikely to bring their uranium mine into production in time and had no uranium experience.

Froneman said Dominion would come into production in 2007, and its gold credits meant it had a higher equivalent grade than Paladin’s Langer Heinrich project in Namibia.

The gold credits and presence of rare earth minerals would also bring down Dominion’s mining costs, Froneman said.

Aflease shares rose 1.75% to R6.41 yesterday, almost four times their level of a year ago, because it has been transforming to a uranium producer at a time when nuclear power is gaining attractive.

Wednesday September 14, 12:45 PM
CHINA ENERGY WATCH: Energy Search Puts Uranium Into Play

By Denis McMahon

A Dow Jones Newswires Column

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SHANGHAI (Dow Jones)--As China moves to line up uranium supplies to feed its planned massive nuclear power expansion, it's facing surprisingly little resistance, and is sparking a lot of interest from countries with deposits of the mineral.

In the next 15 years, China plans to build as many as 40 nuclear plants to supplement the nine it has now.

That's part of a grand plan to become less dependent on crude oil and develop a wider range of energy sources - a plan that could have China bumping up against the strategic interests of the U.S. and its neighbors.

China's search for oil and gas in nearby waters, and as far afield as North and South America, has already provoked jostling and political tension.

China isn't alone in adopting a long-term nuclear energy strategy, although for now its ambitions haven't provoked the hostility from the U.S. that similar ambitions in countries like Iran and North Korea have.

Japan already has 55 reactors, supplying 30% of the country's total energy demand. This should rise to as much as 40% within 25 years, under current government planning.

The U.S. aims to generate an extra 50 gigawatts of nuclear power by 2020, increasing its current capacity by more than 50%. China's 40 new plants will provide 40 GW.

Russia and India also have ambitious nuclear expansion plans, and given soaring oil prices, concerns about the long-term security of oil and gas supplies, and worries about greenhouse gas emissions, other countries may follow suit.

This renewed interest in nuclear power comes at a time when uranium production from mines satisfies just 60% of global demand.

The rest comes from a finite supply of secondary sources, such as reprocessed uranium from nuclear weapons.

For now there isn't any serious competition for uranium that might pit China against existing and would-be nuclear powers, but going ahead, the situation could change.

Australia, Canada, and Kazakhstan, the holders of much of the world's readily-extracted low cost uranium have been making positive noises about selling uranium to China.

Eine der Dauerempfehlungen von Doug Casey macht seit einigen Tagen richtig Spaß.
Gestern 0,81 C $ + 12,5%

Grüsse

Cheap Uranium Play Flying Under the Radar

By Michael J. DesLauriers
23 Sep 2005 at 06:22 PM EDT

TORONTO (ResourceInvestor.com) ý In the face of sky-high oil prices the nuclear power option is once again coming into vogue. In fact, China is going to spend about $50 billion to increase its nuclear power generation capacity from 8.7 million kilowatts to 40 million kilowatts by 2020. India has just announced they it will be building four new nuclear power stations as well. The U.S. hasnýt licensed a nuclear power plant in almost 20 years but that appears to be changing with the new energy bill providing loans and tax credits for nuclear generated power. Nuclear is an attractive choice for global energy needs and uranium would appear to be the right choice for investors.

Over the last few years shares in uranium stocks have all made massive gains, a lot of them in the triple digits, but many pundits and analysts believe the party is far from over. That position is nicely confirmed by the fact that the Endeavour group has just put together a massive Uranium deal in Kazakhstan for which (if the deal closes) they will be raising a mind numbing $300 million, not to mention the greenshoe.

Those gentlemen are very rarely late to the party so one must assume they are real believers in yellowcake. Interestingly, despite investorsý mistrust of the ýStansý, the deal also represents a real vote of confidence for Kazakhstan, a country that has the same bond rating as Mexico and a very respectable per capita GDP of $7,800, ahead of places like Iran, China, Pakistan and Peru. Kazakhstan is not as backwards as some of its strife-ridden neighbors, although most are not familiar with that fact and are quite happy to lump them all into one category.

With the above in mind one must seek to find value in a hot market. Not only are a lot of the listed uranium plays blatant promotions but many have run so much it would be imprudent to be a buyer at current levels. A little over three months ago Resource Investor alerted readers to Titan Uranium [TSXv:TUE] at 53 cents, the stock closed Friday at C$1.10. Other plays like International Uranium [TSX:IUC], UEX Corporation [TSX:UEX], Western Prospectors Group [TSXv:WNP] and Laramide Resources [TSXv:LAM] have made early investors extremely happy as well. So itýs hard to find the ground floor.

Quincy Energy [TSXv:QUI, OTCBB:QCYE] is a fairly compelling junior player which seems to be under appreciated by the market. The company has a 43-101 compliant resource of over 70 million pounds in the safety of the U.S., something not many other juniors can boast. Furthermore, the company is set to make production decisions on several of its properties well before most other players. With a market capitalization of just over C$30 million, Quincy is trading at a discount to its peers even though by all appearances it looks like a better story. Although the shares have had a nice move over the past few months, the run pales severely when compared to most of the other junior uranium vehicles.

Going forward it would appear that QUI, which closed Friday at C$.73, offers the prospect of solid upside especially if uranium prices continue to strengthen.

hpopth

Gute Frage nach STM.
Die steht immer noch auf ner Watchlist "Uranium "bei mir.
Sucht aber immer noch charttechnisch den Boden.
Ist vor Wochen schon als Pick anderswo empfohlen worden.

Persönlich habe ich vor kurzem WML den Vorzug gegeben,
die ist mir transparenter,ebenso AFL,die Du ja hast.

Grüsse

Press Release Source: Wealth Minerals Ltd.

Wealth Forms Partnership With Province Of Salta, Argentina
Monday September 26, 8:30 am ET

VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 26, 2005--Wealth Minerals Ltd. (the "Company" or "Wealth") (TSX VENTURE:WML - News; OTCBB:WMLLF - News; FRANKFURT:EJZ - News), is pleased to announce the signing of a letter of intent to form a partnership within 30 days with the Province of Salta, Argentina. The signing ceremony was held on Thursday, September 22, 2005 in the City of Salta in the presence of Governor Juan Carlos Romero, Henk Van Alphen and several distinguished ministers of the Province of Salta.

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The purpose of the partnership is to facilitate the acquisition of exploration and mining projects in Argentina with a focus on the Province of Salta. The Province of Salta will have a 51% interest and Wealth a 49% interest. The partnership gives Wealth 100% interest in the exploration and exploitation rights and in return the Province will receive a Net Profit Interest (NPI) which will be negotiated on a per project basis.

The philosophy behind the association is to give Wealth, as a partner, a local supportive government, to have greater access to projects, to facilitate the exploration and exploitation of the resources that Argentina has to offer and, most importantly, share the benefits with local communities.

Wealth is pleased to be the company that has earned the confidence of local authorities and to have been chosen for such a landmark association.

Wealth Minerals Ltd. is a mineral exploration company with 13.0 million shares outstanding, approximately Cdn$3.0 million in treasury and listings on the TSX Venture, OTCBB and Frankfurt Exchanges.

Uranium's New Kid on the Block Will Be the Biggest
By David J. DesLauriers
29 Sep 2005 at 11:49 AM EDT

TORONTO (ResourceInvestor.com) -- The Endeavour people now have a uranium vehicle, and as usual they have gone big. The presently halted Signature Resources [TSXv:SRZ] is the putative subject of an RTO and a name change to UrAsia Energy.

The Team

The team will include Ian Telfer as non-executive Chairman, and the board of directors will consist of Phillip Shirvington, Frank Giustra, Bob Cross, Douglas Holtby, Dr. Massimo Carello and one other to be determined. The officers will be Phillip Shirvington, president and chief executive officer, and Gordon Keep, chief financial officer and secretary. Half of this list are former Yorkton, Endeavour people who are part of almost all of the large mining deals in Canada and in Europe.

This project is designed to be the blue chip vehicle for institutions to participate in the uranium bull market predicted by an increasing number.

Financing

“UrAsia has agreed to enter into a brokered private placement through a syndicate led by Canaccord Capital Europe Ltd. and including BMO Nesbitt Burns and GMP Securities Ltd. of subscription receipts at an estimated price of $2.00 (Canadian) to $2.50 (Canadian) per share to raise gross proceeds of $300-million (U.S.). The agents will also be granted a greenshoe option of up to $125-million (U.S.).”

Knowing this group, and the appetite for uranium, the greenshoe will most likely be filled. $425 million is one hell of a lot of money – more than was raised for Wheaton River in the early days, and it is also a big vote of confidence in Kazakhstan where all of the proposed assets are located.

Kazakhstan

This will be, by my count the third Endeavour related vehicle operating in Kazakhstan, the two others being European Minerals [TSX: EPM], and Oriel Resources [TSX: ORL].

As we told readers in late June when we reported on the Oriel story, Kazakhstan is a better place to do business than people realize.

The GDP of Kazakhstan is 41 billion dollars, which is more than the combined GDP of the four other ‘Stans’ and also more than the combined GDP of Georgia, Armenia and Azerbaijan.

"We (Kazakhstan) have done extremely well as compared to other Stans in the neighborhood," Kazakhstan President Nursultan Nazarbayev told United Press International in an interview. "We have one third of Central Asia's population and three fourths of its natural resources," he said.

Nazarbayev also told a recent gathering at the fourth Eurasian Media Forum that with radical market reforms he has hiked the per capita GDP of Kazakhstan from over $700 a decade ago to $2,700 by the end of last year.

Nazarbayev has pledged to the country's over 15 million people that by year 2010, the per capita GDP would be $5,800 making it first post Soviet Union nation to reach at par with Czech Republic, Hungary, Poland and Malaysia.

Indeed, Kazakhstan does appear to be a cut above the madness going on in the Stans right now, and investors forget, or are unaware of the fact that the country has the same bond rating as Mexico.

Assets

1. UrAsia has the option to acquire a 30% indirect interest in the Kharassan uranium project located in south-central Kazakhstan in consideration for $75-million of which $37.5-million is payable in cash and $37.5-million is payable by the issuance of ordinary shares of UrAsia at the financing price. The other 70% interest in the project is held by Kazatomprom and another Kazakhstani entity.
2. UrAsia has also entered into a memorandum of understanding pursuant to which it can acquire an indirect 70% interest in the Betpak Dala joint venture, which has interests (described below) in two uranium projects in Kazakhstan in consideration for $350-million, payable as to $234-million in cash and the balance by the issuance of ordinary shares of UrAsia at the lower of the financing price.
3. UrAsia also intends to submit an offer to a public tender by the Kyrgyzstani government for the purchase of a 72% interest in the Kara Balti uranium mill, located in Kyrgyzstan.

Conclusion

It would appear that if this is consummated, UrAsia would have a market capitalization larger than all of the Canadian listed uranium plays save Cameco [TSX:CCO]. I believe that honour currently goes to International Uranium [TSX:IUC].
All of the assets will be concentrated in Kazakhstan, and by all appearances uranium reserves will be huge, the partner will be Kazakhstan’s state energy company, and there will likely be uranium production in fairly short order.

The company will be run by a group that can raise money, promote, and has excellent relationships with the institutions. If uranium runs, this thing will be at the top of the list. One wonders if there will be a publicly listed, long life warrant?

S.African miner Aflease's headline loss doubles
Fri Sep 30, 2005 5:21 PM GMT17

JOHANNESBURG (Reuters) - Small South African mining firm Aflease Gold and Uranium Resources Ltd said its headline loss doubled in the first half as forecast, mostly due to an accounting charge, while its operating loss narrowed.

Aflease was previously a small gold miner and has switched its focus to uranium following a sharp climb in prices. It plans to start producing uranium in 2007.

Aflease also said on Friday that the Department of Minerals and Energy had accepted the firm's application for a mining right on the Dominion uranium project, which is due to launch production in 2007. Exploration results have been positive.

"Aflease is encouraged that six twin confirmatory drill holes have produced data, which gives us confidence that the data on which we are planning our mining and exploration is sound," a statement said.

Its headline loss was 138 million rand for the six months to June versus a loss of 69 million in the six months to December. Headline results strip out non-trading, capital and certain extraordinary items.

The firm, which had issued a trading statement warning about poor results earlier in the month, said the main reason for the deeper loss was an accounting entry, not a cash-flow item.

The company took a charge of 87.3 million rand related to the mark-to-market value of derivative financial instruments.

Its shares, which have more than tripled this year, fell 0.79 percent to 6.30 rand, underperforming a 1.47 percent rise in the resource index.

Aflease's first-half operating loss narrowed to 42.5 million rand from a loss of 48.6 million in the previous six months due to a cut in impairment, lock-up and writedown spending as well as a reduction in legal and funding expenses, it said.

Aflease announced last month a reverse takeover of Canada's Southern Cross Resources, which was approved by the South African Reserve Bank this week.

The new company -- SXR Uranium One -- will focus on its uranium business. The deal is designed to tap capital from North American to help develop the uranium projects.

OCTOBER 3, 2005 • Editions: N. America | Europe | Asia | Edition

ASIAN BUSINESS

Reactors? We'll Take Thirty, Please
Westinghouse, GE, and their nuclear rivals are chasing $50 billion in Chinese power-plant deals

Power to the People's Republic! That could easily be the slogan of the nuclear power executives winging their way to Beijing these days to pitch next-generation reactor designs, downplay rivals' plans, and woo the Communist Party leadership. President Hu Jintao's government is committed to spending $50 billion to increase nuclear power generation capacity from 8.7 million kilowatts today to 40 million kilowatts by 2020. That's one of the largest buildouts in the industry's history. And by the time that $50 billion is spent, some 30 new reactors will be pumping power to China's most important cities, in addition to the nine operating today. Most are to be built along a rapidly industrializing coastal arc stretching from Shandong province in the northeast to Guangdong province in the south.
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The sheer scale of the ramp-up has global energy players salivating, including such giants as France's Areva Group, the world's biggest nuclear engineering firm with $13.5 billion in sales, Westinghouse Electric, Mitsubishi Heavy Industries, and Russia's Atomstroyexport. General Electric Co.'s (GE ) nuclear division is in the chase as well, while Paris-based Alstom and Germany's Siemens hope to cash in on contracts for reactor turbines and control and instrumentation systems.

The first contract up for grabs, valued at roughly $8 billion, is for four reactors in southern China: two in Zhejiang province's Sanmen and another pair in Yangjiang in Guangdong province. Beijing is expected to make its decision in October, and right now it looks like a two-way race between Areva and a consortium led by Westinghouse, which is owned by British Nuclear Fuels. It has been years since an order for a reactor came from a U.S. utility, and even orders from nuke-friendly countries such as France have been skimpy. "It's pretty critical," says Westinghouse CEO Stephen R. Tritch. "If you are not selected early, you could be locked out of the market."

BROWNOUTS AND SMOG
It is no secret that China needs a massive infusion of new energy to keep the juice flowing to its manufacturing sector. Electricity brownouts are a regular feature of life in Shanghai and Guangzhou. And nuclear power only kicked in about 2% of China's total power supply last year, vs. 30% in Japan. Even so, nuclear plants are just one part of a much larger Chinese push to expand and upgrade the country's power grid.

In fact, demand for power is growing so fast that even if China builds all the nuclear plants on the drawing board, industry officials say atomic energy will account for only about 4% of total electricity generation. That's because the country is also building dozens of conventional power plants. But China wants to move away from the high-sulfur coal-fired plants blamed for its world-class smog and acid rain woes, a goal that increases the value of nuclear power. "Nuclear is clean and environmentally sound," says Wu Zongxin, a professor at the Institute of Nuclear and New Energy Technology at Beijing-based Tsinghua University.

Mein Basiswert:
*****************
on Oct 3, 2005
International Uranium Corp. Signs Letter Of Intent To Acquire 51% In Huard-Kirsch Lakes Uranium Property, Athabasca, Saskatchewan
Vancouver, BC - Consolidated Abaddon Resources Inc. (TSX. V: ABN) and International Uranium Corporation (TSX: IUC) are pleased to announce that the two companies have entered into a Letter of Intent whereby IUC can acquire an exclusive option for a 51% interest in Consolidated Abaddon's Huard-Kirsch Lakes uranium property.

The Huard-Kirsch Lakes property is located in the eastern Athabasca Basin of northern Saskatchewan and is approximately 20 km northwest of the McArthur River (U3O ) Mine and 40 km southwest of Cigar Lake, considered to be the largest high-grade uranium deposits in the world.

Click Here For Map

IUC can earn a 51% interest in the property by incurring Cdn $1,500,000 of exploration expenditures on or before September 21, 2008 and a cash payment of Cdn $25,000. The parties intend to conclude and execute a Definitive Agreement by October 31, 2005. This agreement will be subject to TSX Venture Exchange approval.

A MegaTem survey carried out for Consolodated Abaddon by Fugro in the early winter of 2005 has revealed three previously untested conductive trends having a combined strike length of up to 15 km on the Huard--Kirsch Lakes property. The conductive responses are interpreted to be derived from a basement source along the favorable Wollaston -- Mudjatik transition zone.
IUC will undertake geophysical surveys including moving loop TEM and gravity prior to April 30, 2006 to define drill targets.

Consolidated Abaddon Resources Inc. is a Canadian uranium exploration company actively involved with the development of uranium properties in the ATHABASCA BASIN of northern Saskatchewan and the SIMS BASIN of northwestern Labrador. The Company is also developing a gold project in the Red Lake Mining District on northwestern Ontario.
ON BEHALF OF THE BOARD OF DIRECTORS
"Don C. Huston"
____________________________

Kann schon sein .Und?
Hier der letzte Quartalsbericht:
IUC

China looks to unlock Australia's uranium
By Jon Nones
18 Oct 2005 at 07:14 AM

According to the Herald Tribune, Chinese companies are setting their sights on investing in uranium exploration and mining in Australia.

Senior Australian government officials confirmed on Monday that China asked in February whether Chinese companies would be permitted to identify and exploit uranium deposits in Australia, which has the world's biggest uranium reserves.

The two sides began formal talks in August on a nuclear safeguards agreement under which Australian uranium would be exported to China on the condition that it is used only for peaceful purposes.

Moin Odin,

hab mal Deinen Hinweis aufgegriffen und etwas bei Tournigan rumgestöbert.

Wirklich beeindruckende Kursentwicklung zuletzt.

Da scheint sich wirklich was anzubahnen,ist ab sofort auf der Watchlist !

Grüsse

China and Russia Talk Nuclear Power
China may lend Russia money to build a floating energy unit for a nuclear power plant being constructed in Severodvinsk.

Russia is building a floating atomic power plant in Severodvinsk under a 2003 contract signed between China's Mashimpex and the Russian companies Rosenergoatom and Sudoimport, Novosti reported.

A source in the Russian delegation visiting Beijing told Novosti that China also plans to design a pilot energy unit with a 600 megawatt fast-neutron facility based on a closed fuel cycle.

Russia and China may also jointly develop an experimental ground-based reactor prototype for a space energy unit, the source said.

The source said Russia's cooperation with China in the nuclear fuel cycle has strong potential, given China's plans to bring the capacity of its atomic power plants up to 200 gigawatts by 2020.

Source: United Press International

Wed Nov 2, 2005
International Uranium Corp. Signs Option Agreement To Acquire 51% In Huard-Kirsch Lakes Uranium Property, Athabasca, Saskatchewan
(Webcast Today @ 9:30am Pacific)

Vancouver, BC - Consolidated Abaddon Resources Inc. (TSX.V: ABN) and International Uranium Corporation (TSX: IUC) are pleased to announce that the two companies have signed an Option Agreement whereby IUC has the option to acquire a 51% interest in Consolidated Abaddon's Huard - Kirsch Lakes uranium property.

IUC can earn a 51% interest in the property by incurring Cdn $1,500,000 of exploration expenditures on or before November 1, 2008 and has paid a cash payment of Cdn $25,000.

The Huard - Kirsch Lakes property is located in the eastern Athabasca Basin of northern Saskatchewan, approximately 20 km northwest of the McArthur River (U3O8) mine and 40 km southwest of the Cigar Lake (U3O8) deposit, considered to be the largest high-grade uranium deposits in the world.

Großprojekt in Kasakhstan.
Ungehedgetes Wachstum beabsichtigt.
Ian Telfer an Bord

Uran