URA 5.56% 1.7¢ uran limited

a new day

  1. 4,287 Posts.
    I have held these for some time, but after reading all the rubbish I have held off from commenting. This is what we know NOW (not talking about past misgivings):

    Uran has the following, with drill results on a number of fronts due shortly,

    ?A joint venture allowing Uran to earn 65% of the Grants Ridge project in the Grants Mineral Belt, USA
    ?100% owned mineral claims and mineral rights covering 2,007 hectares in the Grants Mineral Belt
    ?Acquiring up to a 74% interest in a number of manganese projects in Zambia which have potential for rapid transition to mining.

    Zambian Near-Production Manganese Projects
    Uran Limited is carrying out a due diligence review of the proposed acquisition from African Asian Mining Development Company Ltd and its Zambian associates of up to a 74% interest in a number of manganese projects in Zambia, including two with potential for rapid transition to mining. The due diligence includes drilling and ground magnetic surveys. The Company anticipates a decision in late April to proceed with the acquisition.

    The first round of drilling, comprising 15 RC and 7 diamond core holes, has been completed at the Emmanuel Project near Kabwe in central Zambia, and assay results are awaited. Grab samples taken from the mine in 2010 returned assays of 45 ? 52% MnO2. Drilling intercepted massive manganese veining dipping at about 60 degrees to the east and extending at least 300 metres to the south-west on strike from the existing open pit.

    The mineralised structure extends for over 50 kilometres across the project area and is being exploited by 3 operating manganese mines abutting the eastern boundary of the project area.

    The current drilling is on a granted mining lease on which some mining was carried out in 2010. No further permits are required to re-commence mining, and negotiations are underway with several parties regarding sale of manganese ore. Manganese from the area is high quality with very low deleterious elements and is therefore readily saleable.

    The project is only 8 kilometres from the railway line at Kabwe, which has substantial infrastructure supporting other manganese mining in the area.

    The Company considers that there is potential for mining to commence by June 2011, with a production target of 30,000 tonnes per month within 12 months

    Initial drilling at Emmanuel manganese project in Zambia completed, results awaited.
    Shipping of trial parcels of ore commenced in April. Target to start production in third Quarter 2011.
    Contracts for sale of ore are under negotiation.
    Drilling commenced at Mesa Montanosa uranium Project, USA.
    Underwritten Rights Issue to raise $4.56 million.

    PG

    All of the above is from company website and asx announcements (and there is a lot more I haven't added). Everything else and the degenaration of posting is just insolent noise. No wonder guys like 5hareholder limit their postings.
 
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