|
Tournigan’s uranium resource estimate gets major boost, feasibility study is next By Resource Intelligence · May 16, 2012 Tournigan Energy Ltd (TSXV:TVC) is an exploration and development company that has built a portfolio of highly prospective uranium projects in Slovakia. By the first quarter of 2012 Tournigan will complete its re-launch as an advanced stage pure-play uranium company called European Uranium Resources Ltd with projects in Slovakia, Sweden and Finland. Europe has 186 nuclear power plants in operation and 19 new plants under construction and there is only one operating uranium mine within the European Union, in the Czech Republic. Clearly, Europe, a region with the world’s largest per capita consumption of uranium, has an urgent need to develop uranium production. Resource Intelligence: Kuriskova in East Central Slovakia is your flagship property. Could you update us on the latest resource estimates? Dusty Nicol: The June 2011 estimate, compared to the earlier resource estimate, added 39% to the Indicated Resource (increasing it to 28.5 million lbs of U3O8 at a grade of 0.555% U3O8). With the additional 12.7 million lbs of U3O8 in inferred Resource at a grade of 0.185% U3O8, this estimate increased the overall resource at Kuriskova by 3.1 million lbs of U3O8 and ongoing metallurgical test work has confirmed uranium recoveries of 93-94%. RI: Could you give investors a sense of how significant this uranium deposit is? DN: Kuriskova is one of the highest grade undeveloped uranium deposits in the world. By comparison, Strathmore’s Roca Honda project in New Mexico that is being developed in joint venture with Sumitomo Corp, has measured and indicated resources of 3.7 million tonnes at an average grade of 0.23% containing 17.5 million lbs of U3O8. Kuriskova could supply all of Slovakia’s domestic consumption of 300 tonnes of uranium metal per year, with the remainder available for export. The fact that Slovakia depends on nuclear energy for close to 50% of its power makes Kuriskova a very significant and strategically important deposit for Slovakia. RI: What stage is the Kuriskova project at now and what are your priorities for the project in 2012? DN: We will begin the Feasibility Study which will take between 18 to 24 months to finish and we will drill test some of the exciting exploration targets that have been identified within the Kuriskova project area. There is significant growth potential beyond the current defined mineral resources. RI: Aside from increasing the resource estimate at Kuriskova, what other milestones did the Company achieve last year? DN: The Company completed an initial resource estimate at the Novaveska Huta project also located in East Central Slovakia in October 2011, adding pounds of U3O8 to our resource inventory and the project is open to the east and north. A very significant milestone happened in December 2011 when we formed a strategic alliance with AREVA and welcomed them as a shareholder. Andreas Mittler, Vice President, Expertise and Projects Department of AREVA Mines joined our board of directors. Tournigan has entered into a technical services agreement with AREVA to perform a work program comprising metallurgical and environmental test work to be part of the Kuriskova feasibility study. AREVA’s public alliance and their technical expertise should also assist Tournigan in the permitting process for the project. RI: It will be a year this March since the Fukushima nuclear accident and it has affected share prices of uranium companies including Tournigan’s. Do you see this as a short-term problem? DN: The Fukushima accident affected all uranium equities, including ours. Fortunately we were well funded and we have not sought to raise equity financing since that accident. Tournigan will continue to build on the fundamental value of its projects to position it for a market revaluation upon an improvement in uranium prices. RI: What would you tell investors who might be discouraged from investing in uranium exploration companies because of Fukushima? DN: I think that the effects of Fukushima will be mitigated by the mid- to longer-term outlook and demand for uranium. Despite some countries making what must be viewed as a politically driven decision to abandon – or stated intention to abandon – nuclear power, the annual consumption of those countries is insignificant when compared to China and India. Currently China is constructing 26 nuclear reactors, which are 42% of global construction. There is no real substitute for nuclear energy in the fast-growing Chinese economy. Russia and India continue construction of reactors and it is said that Russia will halt exports of uranium in 2013, which will decrease supply that can’t currently be made up elsewhere. It is hard to imagine an energy mix for the world that does not include a significant nuclear component. RI: What can investors expect from Tournigan over the next 12 to 18 months? DN: We will advance the Feasibility Study at Kuriskova and continue to add to our uranium resource inventory in Slovakia, Sweden and Finland. There is often an excessive lag in the valuations of some companies between preliminary feasibility studies and bankable feasibility studies that provides investment openings because resource inventories often continue to grow between the two studies. We hope that is the case with Tournigan as well. RI: What would differentiate Tournigan from other players in the field of uranium exploration? Is there anything else you’d like to tell investors? DN: European Uranium Resources Ltd will be an advanced stage pure-play uranium company focused in Europe, well placed to benefit from an increase in the price of uranium. Investor Highlights - Pure uranium play - Solid fundamental value – high-grade uranium resource nearing development - Strong supportive shareholders including - AREVA which is ranked first in the global nuclear power industry and a key player - in uranium mining http://www.resourceintelligence.net/tournigan-energy-major-b… |
|
| aus der Diskussion: | European Uranium Resources Ltd. ehem.TOURNIGAN ENERGY |
| Autor (Datum des Eintrages): | Last_Man_Standing (21.05.12 23:17:04) |
| Beitrag: | 42,067 von 42,309 (ID:43194227) |
| Alle Angaben ohne Gewähr © wallstreetONLINE | |