"OKLO URANIUM LIMITED QUARTERLY REPORT For Quarter Ended 31 December 2007
Harts Range Project – Northern Territory In the previous September Quarter, Oklo received notification of the granting of EL25451 and EL25453. These Exploration Licences comprise the company’s Harts Range Project in the Northern Territory. They are valid for six years and reconnaissance work may begin immediately. In December, Oklo entered into an agreement with ASX-listed nickel explorer, Mithril Resources Limited (ASX code: MTH) (“Mithril”) for the purposes of farming-out the non-uranium assets of the Harts Range tenements. Under the terms of the agreement, Mithril may earn a 60% interest in the tenements by spending a total of $1 million on exploration on the tenements within three years commencing on the date of the full agreement. Mithril may elect to earn a further 20% interest in the tenements (for a total 80% interest in the tenements) by spending a further $1 million in a further two years. Mithril has a number of joint ventures in place in the vicinity of Harts Range. Mithril has an ongoing joint venture with BHP Billiton over the Indiana Project, immediately to the east of Harts Range and a three way joint venture with Arafura and BHP Billiton over the Hammer Hill Project, immediately to the north of Harts Range. "
THR Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
