RE: Is .01% GoodTweezer:
here's an old article from 2005. Obviously the price of gold/u308/equipt and fuel has gone up considerably. But the key phrase for me from the CEO is "low cost near surface bulk mining" is a good indicator of where this may potentially lead.
I need to post the aticale in pieces.
What's that Uranium worth?
Doug Casey
'29-AUG-05 10:00'
This article by Phil O’Neill, a senior editor of our new Casey Energy Speculator newsletter, provides a quick primer on uranium grades. For reasons Phil explains, when it comes to uranium, grade is often a factor that the latecomer uranium juniors would rather not discuss.
If you are at all interested in uranium stocks, and – selectively -- you should be, read on. That Phil is worth paying attention to is evidenced by the fact that, strictly by virtue of making well-researched investments in junior uranium companies, he has turned $20,000 into a personal fortune.
The uranium sector has been on a wild ride since the summer of 2003. With the price for yellowcake soaring, the market has witnessed the birth of well over 100 new uranium companies. That’s an astounding number, but what’s more impressive – and concerning – is the more than 1 billion pounds of uranium these new juniors purport to hold within all of their various mineral claims.
If this sounds like a lot of uranium, it is. Uranium is in fact the fourth most common element in the Earth’s crust. It’s everywhere – even in your backyard. So, why do mining analysts keep talking about a current shortage of yellowcake?
The key is that, of the billion pounds of U3O8 claimed by mining companies, it’s more than likely that only a fraction will ever come out of the ground. There are many reasons that is the case, politics and environmentalists being two that leap to mind.