its starting to really hot up

Well a fantastic way to finish the week. I just come across another interesting article ... besides Extract, who would be on their top two available companies???

:)

Uranium One eyes African acquisitions
By: Liezel Hill
22nd May 2009

TORONTO (miningweekly.com) – TSX- and JSE-listed Uranium One may consider using some of the cash it will raise by selling almost 20% of itself to a Japanese consortium to buy uranium assets in Africa.

The Vancouver-based uranium miner, which produces the nuclear fuel in Kazakhstan, but also has projects in the pipeline in Australia and the US, is looking at a number of potential acquisitions, CEO Jean Nortier said in an interview.

In February, the firm announced it would sell a 19,9% stake to a group comprising Tokyo Electric Power Company, Toshiba Corporation and the Japan Bank for International Cooperation.

Uranium One already had about $200-million in cash and cash equivalents at the end of the first quarter, and will receive C$270-million (about $230-million) when the private placement closes - likely by mid-year.

Nortier declined to provide details of the potential targets, but hinted that the company would like to expand its African footprint.

“From a geography perspective, what interests us is the fact that more than half of the world's uranium will be mined out of Kazakhstan and Africa from the early 2010s,” he said.

“We obviously already have a good footprint in Kazakhstan, and I think that Africa is an interesting place to be.”

Although the company's current operations all use in-situ leach technology, the firm will not exclude buying conventional uranium mining assets.

However, one thing that the company is not looking at is greenfields opportunities.