s.a government ,i applaud you,not, page-7

re: uranium stocks in wa, sa and qld are worthless hummm interesting times for Uranium in AUS now vespa.

I hope the AUC - Australian Uranium Conference 11th-12th OCT in WA brings some light to it.
Johny H got to say something. There is $$$$$$$$$$$$$$$$$$$$$$$$$ to be made from mining in AUS.

Uranium mania faces acid test
By Barry Fitzgerald
Resources Editor
October 11, 2005

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INVESTOR enthusiasm for uranium stocks is about to be put to the test in a big way, with the three foreign foundation shareholders in Ranger uranium producer Energy Resources of Australia about to quit their combined 25 per cent stake in the Rio Tinto-controlled group.

The planned sale would fetch more than $717 million at ERA's current boom share price of $15 a share — up threefold on its level of 12 months ago, when the mania for uranium stocks was just starting to gather momentum.

The craze has been a response to the tripling in spot uranium prices following the global run-down of stockpiles, with new mine supply only meeting two-thirds of demand from the nuclear power industry.

Nuclear power's potential to provide a part solution to global warming concerns, and the emergence of China as a big future consumer of the radioactive material, has also fuelled the boom. The rush for uranium investments has not been restricted to established producers, with the local exploration sector enjoying a boom.

The planned sale of the 25 per cent ERA stake by Cameco (Canada), Cogema (France) and Japanese power utilities is set to raise queries about whether the uranium boom — and ERA's share price — is overheated in the eyes of those who should know. ERA's foreign foundation shareholders are among the world's biggest uranium and nuclear power groups.

As a result, ERA's share price could come under pressure ahead of the single offer, by way of a book-build, of the 25 per cent stake to investors at the end of November. The Sydney office of CIBC will be managing the book-build, which will increase the "free float" in ERA from the current 6.51 per cent held by the public and institutions to 31.61 per cent.

Rio Tinto will continue to hold 68.39 per cent of ERA. "At this time we intend to maintain our majority interest in ERA," a company spokesman said yesterday.