High volume breakout today. Reached a high of 31cents.
I think if 35cents is not hit very early TMRW, then its a formality MONDAY.
I expect a 50cent SP on TSX listing. TSX listings are imperative for uranium companies and open up a whole new door of international investors - an in Canada's...international investors/funds that SPECIALISE IN URANIUM. Just look at BMN, its registry is full on Canadian funds.
WCU will be a beacon for Candian Uranium funds on listing.
DEVELOPMENT ORE Australian junior begins mining uranium in USA
One of the companies born in Australia's uranium renaissance less than four years ago has achieved something most of its other counterparts on the Australian Stock Exchange won't achieve in the next few years - production of uranium, but in the USA. Author: Ross Louthean Posted: Monday , 07 Dec 2009
PERTH -
White Canyon Uranium Ltd (ASX: WCU) disclosed today that it had started production of development material from its 100% owned Daneros uranium mine in south eastern Utah in the United States.
The company said it will be delivering ore to North American uranium producer and processor Denison Mines Corporation (TXS: DML; NYSE & AMEX: DNN) which has the White Mesa Mill. Trucking will begin this month.
First payment for delivered ore was expected in January.
In October, White Canyon agreed to sell material produced in the Daneros mine's development stage into what was called the Denison Ore Buying Schedule.
White Canyon's managing director, Peter Batten, believes the mining and sale of the development material from Daneros marks the achievement of two significant milestones in the company's transition from explorer to uranium producer.
"The sale of this development material will allow Denison to derive critical processing parameters with regard to the Daneros mineralisation, will assist with how to best treat this mineralisation through the White Mesa Mill in the future and will provide pertinent information required for the finalisation of a long term treatment agreement with Denison," Batten said.
It also, he said, propels White Canyon into the ranks of being a producer.
The company has lodged a draft listing application to join the Venture exchange of the Toronto Stock Exchange.
WCU Price at posting:
28.5¢ Sentiment: LT Buy Disclosure: Held
