Monday, September 10, 2007 at 06:12AM
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:
’ 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.