Today's OLYMPIC DAM UPDATE
Release Time IMMEDIATE
Date 22 August 2012
Interesting to see the Supply/Demand repercussions of Today's BHP Announcement.
BHP Billiton announced today that it will investigate an alternative, less capital-intensive design of the Olympic Dam open-pit expansion, involving new technologies, to substantially improve the economics of the project.
As a result it will not be ready to approve an expansion of Olympic Dam before the Indenture agreement deadline of 15 December 2012.
The Company will discuss the implications of this decision for the Indenture agreement with the South Australian Government in the coming months.
BHP Billiton CEO, Marius Kloppers, said current market conditions, including subdued commodity prices and higher capital costs, had led to the decision:
DELAY .................................... equates to a stronger Uranium Supply/Demand in favor of stronger Contact pricing into 2013 & beyond !
This most probably instigated Paladins recent US$200M 6 year off-take agreement with a major utility to deliver a total of 13.73Mlb U3O8 in the period from 2019 to 2024.
Cheers from G64 :)
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