MKY - Next to Beverley & Four Mile (Alliance Resources AGS.AU) South Australia
Yesterday MKY announced at their EGM:- Finalised Acquisition of Callabonna Uranium Limited Name change to Callabonna Uranium Issue of shares to SK Energy (Largest South Korean Oil refiner)
MKY are a uranium explorer that has several projects in Australia.
Their standout project is their Curnamona project located in South Australia. Curnamona currently has 3,500km2 of tenements .
An additional 3,900km2 of tenements are proposed (JV with Newcrest NCM.ASX - subject to renewal by PIRSA)
Both tenements are very prospective for uranium as they are located to the east of Beverley and Four Mile mines (Alliance resources AGS.AU) - This has one of the highest grade resources in the sector (61Mlbs @ .35% u3o8) and is cum production in April 2009.
MKY are planning on drilling Curnamona in the 1st week of October as they have defined drilling targets.
MKY have cash of over $5M and a market cap of $14M
i would expect lots of news when the bit hits the dirt. dyor.
MKY Price at posting:
2.8¢ Sentiment: ST Buy Disclosure: Held
