Hey Reichman. Good QuestionA question I have asked myself, which...

Hey Reichman. Good Question

A question I have asked myself, which is why I have been searching for the most up to date info on the US/China Nuclear Co-operation agreement.

US/China Nuclear Co-operation Agreement

As far as the nitty gritty between say a utility wanting to lock up future supply with Pen and Lance, well that could be anything, depending on who's offering what at the time.

But your second comment you made on it below I would say is a good guess. A reduced price at what ever the current average is.

"Would they potentially be getting first crack at any future product at whatever the market price at the time was, or do they get it for a reduced price because they put their hand up a fair way out from actually receiving any uranium?"

As far as the earlier ISR question, gees, some people really do need to do some basic homework on a what a companies project intails. Common Sense would drive me to look into ISR before investing in it. Talk about head banging!!!

ISR

Two examples of current USA ISR operations given below demonstrate that the process is standard practice in the USA provided the suitable geology and hydrology are present.

Smith Highland Ranch Wyoming(Cameco)

: largest uranium production facilty in the US
: uses ISR mining technique to extract uranium
: Smith Ranch facility was completed in 1997
: proven and probable reserves total 6.4m lbs U3O8
: in 2008 production was 1.2 million lbs U3O8
: employs about 110 people

Brief Highland history

: 21 years of commercial ISR production
: in 1998 achieved 10million lb production milestone

Brief Smith Ranch History

: 22 years of commercial ISR production

Crow Butte ISR Mine Nebraska

: uses ISR mining technique to extract uranium
: proven and probable reserves total 5 million lbs U3O8
: Production of .6 million lbs in 2008
: employs about 65 people

The NRC received 2 applications for expansion of existing ISR operations in 2007. Six applications were received for new ISR mines in Wyoming in 2008, and two more in 2009. Another 10 applications for new ISR operations or expansions are expected by 2012, including Peninsula's Lance Project.

Wyomings ISR production represents 55% of total US uranium production.

This link clearly shows how dominant ISR mining will be in the US.

Expected Uranium Recovery Facilty Applications/Restarts/Expansions

DYOR


NK