Ready for another fine day to battle it out and hold strong against those pesky Day Traders! Self-imposed gag order lifted and I've been busy making the transcript of our leader's fine words.
Something for you to mull over while you munch on your vegemite toast.
Special note: Daytraders will be required to make a donation to the Salvation Army, Blood Bank or Red Cross by way of a 'pay per view'.
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boardroomradio.com
Interview : RSL – First Malawi Uranium Licence Granted – Mr. Ian Scott, MD
Board room radio today welcomes the Executive Director and CEO of Retail Starr, Mr. Ian Scott to tell us about the latest announcement.
Terry: Welcome to brr Ian.
Ian: Thanks Terence. Thanks for the opportunity to talk.
Terry: Ian, Retail Star has been granted its first uranium licence by the Government of Malawi. Tell us about what you’re doing in Malawi and what this licence means for Retail Star.
Ian: Well I suppose a little bit of background on Malawi and its potential for uranium is worth commenting on to start with. Malawi has histories of uranium occurrences and I suppose the most notable one is in the north of the country where Paladin are developing the Kayelekera deposit and there is something like over 11,000 tonnes of contained U308 in reserves at that deposit. It has all its approvals in place and they are powering ahead with that. There are a number of other Australian based companies exploring in Malawi and at the moment it is a hot address to be.
We feel that there is a good geological potential in Malawi for uranium and the Government is very supportive of mining and in particular uranium mining in the country and certainly our dealings with the Government to date have been very positive. So that is one of the main reasons that we are there. And secondly, why we are in the areas we have defined specifically back in the mid-1980’s the United Nations sponsored a major reconnaissance exercise across Malawi and a Canadian consulting group Paterson, Grant & Watson undertook a major airborne radiomagnetic survey and as a result of that survey they identified around 40 key target areas and we have been fortunate to pick up in one of our leases, one of their highest priority target, their number two target, the Chinduzi target which is situated on the Machinga lease which we have just had granted and adjacent to that, are other high priority targets identified by this Group.
The second lease that we are looking at up in the central north part of the country, our Chintheche lease is in the process of the final stages of being transferred to us and the geology is a little bit different there but that is also another priority target which was identified by the Paterson, Grant & Watson exercise. So we think we are in a pretty good part of the world and we are developing some pretty good assets there.
Terence: And Ian, now that you have been granted the licence give us an idea of the work program for 2008 at Malawi?
Ian: It is the wet season in Malawi at the moment and as soon as we are able to get on to the ground we are just finalising the arrangements with our contract partners to get on the ground in Machinga and we are planning to get there early in 2008. We have just been going through the data acquisition modelling and targeting strategy and that’s pretty well in place and the first stage is field reconnaissance and first pass sampling planned during first quarter of this year and then if necessary acquisition of any further geophysical data that may just be ground based which along with the data we will assess that once we have done this first pass field reconnaissance and then we are planning to confirm the geology and radiometric anomalies in detail, coupled with detailed mapping, soil geochemistry, in the second quarter of this year and all leading to finalisation of targets for follow up drilling by third or fourth quarter this year. That’s the plan and we are confident that we can get up and running with that.
Terry: And Ian, although the focus of the company is on Malawi, you do have some Australian assets. What are you planning to do with these this year?
Ian: We have got 7 leases in the Northern Territory that we are working up at the moment and I am hoping to have a number of drill ready targets by the end of the year on those leases, and in Western Australia we have an additional lease in the Lake Barlee region called our Mount Alfred lease and we are undertaking assessment of the uranium chemistry and some profiles around the Lake at the moment and planning ground traverses over key areas and some follow up sampling leading to some auger and air core drilling towards the end of the year and at the same time working on developing our portfolio and project pipeline and that is the focus for the company in 2008.
Terry: Ian, certainly a busy year for the Company in Malawi in 2008. Thanks very much for the update on BRR.
Ian: Pleasure. Thank you Terence.
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Gosh I hope that guys name was Terence. Apologies if it wasn't.
Cheers, Tangrams
SRT Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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