uranium price to rise as nuclear demand soars, page-6

Companies with uranium properties in S.Aus & N.T. will start to look even more attractive if the W.Aus Labour Government wins the election in September and goes through with formally legislating the ban on uranium mining. Even how ridiculous the decision is, it may end up having a positive effect on the U3O8 price, with future supply looking to be tightning even futher.

As Pen are looking at possibly selling their S.Aus uranium projects in the short to medium term, it may well work to their advantage.

Also of interest the South African government are planning on limiting exports of the metal to ensure sufficient supply of fuel for its existing and planned nuclear power plants. Just another story of the supply of uranium tightning up. South Africa holds 7% of the worlds uranium reserves. From what I have read so far, I like to think Karoo will be just as big as Lance, and it would not suprise me if not one ounce of Karoos uranium once up and running will leave the country.

Looking forward to news on the ground follow up of radiometric anomalies identified in new survey at Karoo.

Cheers NK