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« The New Age of Nuclear Power | Main | Russia signs uranium agreement with Australia »
Monday
Sep102007

Uranium: Queensland and WA to be mined?

Paladin Resources logo 10sep07

Australia’s biggest selling daily newspaper The Herald Sun carries an interesting interview with John Borshoff, the Chief Executive of Paladin Resources.

According to this report he told ABC TV that the increase in uranium price would continue on its upward path.

“I think the dynamic of the volatility is a five-year, almost continuous rise,'' he said. “I foresee it will surpass the peaks within 12 to 15 months.''

Good news for all uranium bugs and a little further he goes on to say:

“It was “certain'' it would be mining uranium out of Australia.

“As sure as today is Sunday, we will be mining uranium out of Australia, out of the states of Queensland and Western Australia,''
he said.

We are aware that these are the words of just one man and the political barriers that exist have still to be negotiated and resolved to the satisfaction of the Australian people. Having paid around $1.2 billion for Summit Resources, Paladin have predicated a huge investment on the uranium mining situation experiencing a little relaxation thereby allowing Queensland and WA to participate the nuclear energy boom.

On the 27th July 2006 we posted an article entitled ‘Mega Uranium A place in the sun’ in which we said:

Mega Uranium logo 10sep07


’ My bet is that they won’t let politics get in the way of a good money spinning deal and when the go-ahead arrives for uranium mining to commence, there will be some frantic action for those mining companies who already have a place in the sun.’

We still think the same, that the day is not too far ahead when these two States open the door to the uranium mining industry.

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Reader Comments (4)

All one need do is follow the money...there's been too much already invested and too much potential money to be made for every party involved to NOT go ahead with mining in these states. The new deal to sell Australian u308 to Russia only further confirms this.

September 10, 2007 | Unregistered CommenterMike M.

...another new interesting tidbit...Premier Beattie has just announced his resignation...

September 10, 2007 | Unregistered CommenterMike M.

Thanks Mike,

Queensland: Premier Peter Beattie is to retire

According to the Herald Sun the Premier of Queensland is to retire. So would any of our Australian readers like to offer their opinions on what this means for the likes of LAM and MGA?

September 10, 2007 | Unregistered CommenterUranium Stocks

Checkout PDN's CEO John Borshoff and the full interview.

http://www.abc.net.au/insidebusiness/content/2007/s2027905.htm

You can watch the interview from the links down the bottom.

September 10, 2007 | Unregistered CommenterJohnny

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