Australian Elections OverHello to you all up there in the Frozen North. We've just had an election here in Australia and the Labor Party (left leaning) has had a landslide win. They've always been anti-Uranium mining in Australia but recently they have been half-half with some of the more pragmatic policians thinking that it is time for a change.
The Labor Party has won a landslide win in the House of Representatives (Lower House of Parliament) but have not gained control of the Senate (Upper House of Parliament). The ousted Coalition has retained control but another party (The Greens) have won six Senate seats.
If the Greens vote with Labor then Labor has control of both Houses of Parliament. That is something powerful to have for a Party that has not been in Government for 11 years.
The Greens (as their name suggests) are very pro all-things-Green and very anti Uranium mining. One could argue that Uranium power plants are greener than Coal fired plants but, for the moment, the Greens' policy is anti Uranium.
SO I believe the result of this will be NO expansion of Uranium mining in Australia and therefore no new supply onto World markets.
That will result in a rising Uranium price and more interest in countries like Namibia which is seen as the second safest mining country in the World with regard to Sovereign risk.
EXT is primed to burst at the seams in 2008. It is in the right place, at the right time, with everything lined up and ready.
Drill results are great, scoping study showed low capital requirements to establish a mine, low cost-to-produce and the coming resource statement (end of January) will be a big one (you heard it here first).
All of this for a remarkably low market cap. If you want bang for bucks then do a comparison of EXT with its neighbours to see what I mean.
Do your own research. Download the scoping study, download the drill results, download the media analysis (including broker reports) and then tell me this doesn't get you hard.