Fission Uranium Corp T.FCU

Alternate Symbol(s): FCUUF

Energy

Fission Uranium Corp. is a Canada-based resource company. The Company’s principal business activity is the acquisition and development of exploration and evaluation assets. The Company is a resource issuer specializing in uranium exploration and development in Saskatchewan’s Athabasca Basin in Western Canada. The Company’s primary asset is the Patterson Lake South (PLS) project, which hosts the Triple R deposit, high-grade and near-surface uranium deposit that occurs within 3.18 kilometers (km) mineralized trend along the Patterson Lake Conductive Corridor. The property comprises approximately 17 contiguous claims totaling approximately 31,039 hectares and is located geographically in the south-west margin of Saskatchewan’s Athabasca Basin, notable for hosting the highest-grade uranium deposits and operating mines in the world. The Company also has the West Cluff property comprising three claims totaling 11,148-hectares in the western Athabasca Basin region of northern Saskatchewan.

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Fission Uranium Corp

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Post by CanadianBuckon Jun 28, 2017 9:43am

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Post# 26413078

Korea halts construction of 2 nuclear reactors

Korea halts construction of 2 nuclear reactors, builders hard hit

South Korean government has halted construction of two nuclear reactors in the Shin Kori Complex that are already 30 percent built to gauge public opinions on whether to continue or kill the project as part of the new energy policy of weaning the country off nuclear power.

The government said in a statement that a committee will conduct a study and host hearings for the next three months to decide on the fate of the two plants under construction - Shin Kori 5 and Shin Kori 6 - located near the southeastern city of Busan.

The price of nixing the project would come to about 2.6 trillion won ($2.28 billion) as 1.6 trillion won is already spent on the construction and facilities must be dismantled and manufacturers reimbursed. The impact on the regional economy from the cancellation of the project also must be considered, said Hong Nam-ki, minister of the Office for Government Policy Coordination.

“We won’t immediately move into stopping the construction. We will go through public debate and respect the consensus,” he said.

The committee would be headed by the Prime Minister and comprise of about 10 members selected from a pool of private sector candidates while excluding people from the energy industry to avoid conflict of interests.

The news was a heavy blow to the builders. The two reactors have been built by a consortium led by Doosan Heavy Industries & Construction.

Shares of Doosan Heavy closed Wednesday down 4.4 percent from the previous day and as much as 14.3 percent from June 16 closing. On June 19, President Moon Jae-in announced the phase-out of fossil fuel- and nuclear-powered sources for electricity while permanently shutting down the oldest nuclear reactor Kori 1 on the same day.

Korea gets a third of its power supply from 24 nuclear reactors. The previous administration, based on a 15-year energy plan, embarked on the construction of two additional reactors to meet increased demand.

Industry experts fear spike in electricity bills when power generation shifts to imported natural gas and renewable energy.

By Ko Jae-man

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