Yup, feels like a pressure is building under this stock.Current...

Yup, feels like a pressure is building under this stock.

Current wide area exploration program, should be getting some assays shortly. A survey really of the large tenement holding at selected points for recon. for the future exploration,may turn up something interesting in single holes, I think this maybe deciding which tenements maybe abandoned to reduce holding costs and focus effort. High grade gold just sitting in the Tank, economic and likely to be extended as it stands.

Uranium price likely to stay at least around these levels with Kazakh likely not to unduly put downward pressure on prices and general movement of buyers away from Soviet or single source will make Australia more attractive. Kazakh is the country controlling the U price, its supply is controlled to a level to meet market at present so their is flexibilty to increase. There will become a point in the near future ( 5 years), where Kazakh will not be able to accelerate production to meet new reactors coming online in China and India.

Excerpt (recent) https://www.world-nuclear-news.org/Articles/Kazatomprom-plans-2025-uranium-production-increase

Kazatomprom remains committed to its market-centric strategy and its disciplined approach to production but is "excited to witness the start of a long-awaited historical shift in the uranium market", Chief Commercial Officer Dastan Kosherbayev said, adding that it has shown "strong market discipline for seven consecutive years" in keeping its production 20% below the total subsoil use agreements.

"Consistent with our market-centric strategy, our intention to return to a 100% level of Subsoil Use Contracts production volumes in 2025 is primarily driven by our strong contract-book and already growing sales portfolio against conservative 2023-2024 production scenario," he said. "As we are seeing a clear sign that the industry has entered into the new long-term contracting cycle, driven by the recognition of the restocking needs, Kazatomprom, with its best-class and lowest cost mines, is absolutely prepared to respond to these improving market conditions. Our current contract book provides sufficient confidence that the additional volume in 2025 will have a secure place in the market and be needed to fulfil future contractual obligations."

The company said it will now begin working with its joint venture partners and mining subsidiaries to incorporate the necessary changes into its 2024 budgets and development plans for the 2025 increase in production volumes, but added that it will "continue to monitor ongoing market developments and maintain the flexibility to react quickly to changing conditions". No decision has yet been taken regarding mine development activity and production volumes beyond 2025, it said, and geopolitical uncertainty and global supply chain issues along with high inflationary pressure "remain existent and the Company may therefore potentially face challenges in increasing production significantly above stated levels".

Kazatomprom, through its subsidiaries, joint ventures and associates, produces uranium from 26 uranium deposits grouped into 14 mining assets, all using in-situ leach technology. Subsoil use contracts are agreements with the Kazakh government covering the production of uranium by in-situ leach methods.