citic like uranium

TALBOT, CHINESE BACK NEW URANIUM PLAY

NEW uranium float Southern Uranium (SNU when listed) has got its $14 million initial public offering off to a good start with a $4 million cornerstone investment. The money is coming from Citic, one of China's largest state-owned enterprises, and Talbot Group, the private company controlled by Queensland millionaire Ken Talbot.

Southern Uranium is a spin-off from listed Southern Gold (SAU) and is going to the market with 10,000sq km of exploration licences in the Gawler Craton of South Australia. Southern Gold shareholders are getting a priority offer, while the public offering closes on March 16.