Uranium One Inc SXRZF

Uranium One gets SA approval for project

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Like I said, from here on in, we have slow and steady positive news! Things are looking good, and UUU wants to hold above $9 !!! ---------------------------------------------- Uranium One Australia Pty Ltd has won approval from the South Australian government to carry out a mining and rehabilitation program at its Honeymoon Project, near Broken Hill. The company said the approval represented a significant step towards the establishment of Australia's fourth uranium mine. "Construction work on infrastructure at the Honeymoon site will be carried out according to our schedule of commencing production later this year," the company, which is a wholly-owned subsidiary of Canada's Uranium One Inc, said. "We have started employing personnel and once production reaches steady state levels, we expect to employ approximately 60 people at a time." ------------------------------------------------------------- The Honeymoon Uranium Project, located in the uranium-producing state of South Australia, is an advanced in situ recovery (ISR) project. The Board of Directors of Uranium OneTM approved the development of the Honeymoon Project in August of 2006. Production is expected to begin in 2008 with a ramp-up to steady state production of 880,000 pounds U3O8 per year. Planned technical processes for uranium extraction have been confirmed through the operation of a demonstration plant and a field leach trial over an 18 month period.