powder river basin wyoming is the place to be

Somehow, I think we are in the right area!!!!Powder River Basin. Just keeps getting better!!!


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Uranium One to Buy Wyoming Assets for $35 Million (Update1)
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By Brett Foley

Aug. 10 (Bloomberg) -- Uranium One Inc., a Canadian company that mines the metal in Kazakhstan, agreed to acquire the Irigaray plant and Christensen Ranch facility in the U.S. for $35 million.

The company will buy the assets, which are in the Powder River Basin in Wyoming, from a joint venture between Areva SA and EDF, Toronto-based Uranium One said today in a statement. Raw material from Uranium One’s other projects in the region may be processed there, it added.

“By acquiring existing, licensed production facilities, we will reduce the permitting and construction risk associated with developing our own central production plant,” Uranium One’s Chief Executive Officer Jean Nortier said in the statement.

Uranium One, which has deposits in South Africa, Australia and Kazakhstan, said today in a separate statement its second- quarter net loss was $264.9 million, or 56 cents a share, compared with a loss of $67.9 million, or 15 cents, a year earlier. Sales slipped 62 percent to $18.6 million.

The average realized uranium price in the quarter was $48 a pound, up from $72 a pound a year earlier, Uranium One said. Attributable production may rise to between 5.6 million pounds and 7.5 million pounds next year from its forecast output of 3.5 million pounds this year, it added.

The company said July 9 that second-quarter production rose 8.7 percent to 833,900 pounds.

To contact the reporter on this story: Brett Foley in London at [email protected]

Last Updated: August 10, 2009 08:15 EDT
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Cheers NK