wa -u- project is only a small part of it--------------------------------Aims 1)Edwards Creek JV (SA) (RPT 18%) is currently exploring for an Olympic Dam style deposit (copper, gold, uranium) with gravity defined targets to be drilled in 2005.
2)Redport aims to assemble one of the most prospective uranium projects in Australia, with a focus on deposits that are commercially mineable
Redport will endeavour to increase the company.s uranium resource through exploration, joint ventures and acquisition.
Development time frames are mid-term intended to coincide with possible revisions to Australian uranium policy and legislation.
Background
Redport Limited, previously named Minotaur Gold NL, was formed in 1993 as a gold explorer with a large tenement holding in the Gawler Craton of South Australia. Between 1993 and 1999, it diversified into base metal and mineral sand exploration. Late in 2000, the company diversified with the purchase of an IT business and at the same time the company spun off its base metal assets to Minotaur Resources Ltd, in return for shares in that company. Minotaur Gold distributed these shares, on a 1 for 3 basis to its shareholders. Minatour Resources was subsequently taken over by Oxiana for in excess of $200 million. Shareholders approved the name change from Minotaur Gold to Redport at the company's Annual General Meeting in 2001. In March 2005, Redport Limited divested the IT business and is now focused on investments in the minerals sector by exploration and acquisitions. The company has a strong focus on uranium and currently has a uranium resource inventory of over 7900kt of uranium (17M pounds) with a current in situ value in excess of A$600 million.
RPT Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
