There is an alternative power source for Olympic Dam a mere 300km away - Akaroya the old Meekatharra - now owned by Altona (AIM listed)at 4p. They have just signed off a $25m pre-feasibility funding with the Chinese - shareholders have to approve this as this will take the Chinese to 40% of the company - FIRB aspproval is not needed as the company is already British owned. This is going to be another billion dollar company within 5 years with 10m barrels pa production of sulphut free fuel and/or very high grade avgas. The SA Govet will probably demand that 50% of production is kept for SA to heklp solve its mounting energy crisis. The shares should get a quote on ASX later this year.
UMC Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
