Sydney - Wednesday - March 29: (RWE Australian Business News) - Redport Ltd (ASX code: RPT) is preparing for a drill program targeting an "Olympic Dam" style of copper-uranium-gold mineralisation at the Herakleion prospect within the Edward Creek project in South Australia. The drilling is scheduled to commence in early April, subject to rig availability, and will take about a month to complete. Site preparation is under way with plans for sump construction and track clearing being prepared. Redport shares rose 1c to 11c yesterday, making a four-day gain of 2.7c. ENDS 08:40, Friday, 3 February 2006
Sydney - Friday - February 3: (RWE Aust Business News) - Redport Ltd (ASX:RPT) expects a rise in the royalty relating to the Langer Heinrich uranium deposit in Namibia, which it acquired in 2005. The Langer Heinrich project is held by Paladin Resources Ltd (ASX:PDN). Construction of the project has commenced with an expected completion date of September 2006, with royalties expected to be paid during 2007. In late 2005 and early 2006 Paladin announced that it had increased resource estimates at the project. For Redport the future royalty stream from Langer Heinrich is therefore likely to be positively affected by the increase in the total resource estimate from 32,800 tonnes to 44,000 tonnes, a rise of 34pc. The royalty provides Redport shareholders with exposure to the first new uranium mine brought into production in recent times. The royalty stream is based on a payment of 12c per kilogram of uranium produced or sold. Redport shares last traded at 7.7c and Paladin at $3.13. ENDS
RPT Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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