Here we are again, uranium is back in vogue for some reason. Evidently, there is a use case for uranium in dense electricity markets that requires a large economy of scale (i.e. in Asia). As I write this Cameco reckons the spot uranium price is sitting at USD$33.75 and coming off a base following the heady days in 2008-2012 - I wasn't there for it (I was busy being an awkward teenager), but I understand people made lots of money in that period.
See this announcement regarding CXO's Napperby Resource. I'm well aware the resource in its current state is nothing special. But I can also see potential value in a Uranium bull market.
There's a lot of hype that the uranium price could go above USD$60/lb. Evidently, CXO has an undeveloped JORC resource and a couple of exploration prospects in its portfolio.
Mine, Jurisdiction Tonnage Grade 1 Napperby, Australia (CXO) 9.34Mt 0.0359% 2 Napperby, Australia (CXO) (INDICATIVE HYPOTHETICAL ONLY) ~18.68Mt ~0.0359% 3 Budenovskoye 2, Kazakhstan 40.7Mt 0.022% 4 South Inkai, Kazakhstan 58.1Mt 0.013% 5 Langer Heinrich, Namibia 108.1Mt 0.052% 6 Tortkuduk, Kazakhstan 16.51Mt 0.75% 7 Olympic Dam, Australia 619Mt 0.057% 8 Ranger, Australia 21.43Mt 0.1%
Are there any uranium buffs out there who know if there are producing mines similar to the Napperby deposit? If so, CXO should spin out its uranium assets in a separate float. There's no benefit to developing it alongside Finniss, nor is there any point in selling the assets for additional capital. Give the shareholders some capital back in a burgeoning uranium market, I say!
All IMO.
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