First time poster, long time reader. Have followed SHE since 2013 when it was purely about the Korean uranium opportunity. Anyways I have spent a significant time studying/working in Korea and thought I would share an article which was in Korean news today regarding the KORID JV.
It's obviously in Korean but google translate will do a good enough job to give everyone the basic overview. Similar articles are also available on other Korean media outlets but the Joongang Ilbo (Joongang Daily) is one of the major newspapers in Korea so it is more significant.
I can speak Korean so without giving a detailed full translation of the article and with a full disclaimer that what I have interpreted might not be 100% correct here is my overview -
It's a positive piece that talks about the KORID acquisition of 50% of Stonehenge Korea. Talks about the background of the project and the resource available mentioning a report done on the resource by Australian companies Optio and CleanTeQ and their subsequent assumptions on the potential worth of the resource.
Most significantly the article states that KORID with this acquisition over the next 3 years will continue to review/analyse the resource and seek investment and have plans for a full scale mining operation set to begin in 2018 with sales of Vanadium and Uranium to begin by 2024.
The resource will be able to supply Korea with 25% of it's uranium needs over 20 years. It then goes on to talk about the possible uses for the vanadium in the Korea market.
On a side note I believe one of the Directors was recently in Korea as part of the WA govt. "WAKER forum" a little over a week ago so I expect there were probably some discussions and advancements with Korid.
Another side note on Protean wave. I remember meeting Mr. Henning in Korea in 2012 and we were speaking about SHE (before I invested with them and knew about the project) and talking about the difficulties in getting a mine operational in Korea with fairly strong community support against mining and he said something that with hindsight has been very significant - "If it doesn't work out then we will find another project that is just as good or if not better" - seems he was true to his word in the adept purchase of the protean tech.
GLTA.
SHE Price at posting:
5.0¢ Sentiment: Buy Disclosure: Held
