White Canyon UraniumWhite Canyon Uranium is the newest uranium...

White Canyon Uranium

White Canyon Uranium is the newest uranium production company listed on the ASX, with production of development material at Daneros having commenced at the end of 2009 following the mine permit being granted in May 2009. Daneros is the first new uranium mine permitted in Utah in 30 years.

Whilst listed on the ASX a TSX-V listing is expected in February 2010. The company has U3O8 upside of 10 million pounds within 3 years, and well placed to establish a 10 year mine production schedule.


White Canyon Uranium completes secondary listing on TSX Venture Exchange
Friday, February 12, 2010

White Canyon Uranium (TSX-V: WU, ASX: WCU) commenced trading on the TSX Venture Exchange (TSX-V) today.

The junior uranium company officially entered the ranks of uranium producers in December 2009 after it commenced production of development material at its 100% owned Daneros Uranium Mine which is located in south-eastern Utah, USA. White Canyon Uranium is delivering ore to North American uranium producer and processor Denison Mines (TXS: DML; NYSE & AMEX: DNN) which owns the White Mesa Mill.


Additional production is expected to be sourced from the Company's Lark Royal, Geitus, Blue Jay, Marcy Look and Yellow Cat projects, which are also in close proximity to the White Mesa Mill.


White Canyon is transporting material produced to Denison's White Mesa Mill for processing of up to 55,000 tons per annum. The Company will pay to Denison the direct costs to mill its material produced, a capital charge plus a toll milling fee per ton of ore, which will be partly linked to the long‐term uranium price.


Processing will be scheduled by Denison and can commence after the production and stockpiling of 36,000 tons of White Canyon material. First processing of Daneros ore is expected in H1 2011 allowing White Canyon to meet expected delivery dates in H2 2011.


"We have been looking forward to the TSX-V listing", said White Canyon Managing Director, Peter Batten. "With a strong North American shareholder base and projects in Utah we expect an increased level of interest in the Company and its activities".


Ends.

Note: White Canyon Uranium is a sponsor of this website!