Old 04-05-2011, 08:59 PM
Sparty Sparty is offline
Join Date: Mar 2009
Posts: 1,127
Default Extract to start HSUAB by July 2011

Extract Resources ASX EXT will start the Hsuab mine, destined to be the world's 3rd largest uranium mine around the end of June 2011.

The mine will be an open cut heap leach project with a production price of around $28 per pound and a capex of ~$1.6bn.

The mine will produce about 15 million pounds, or 6800 tonnes, of uranium oxide a year.

It will be interesting to see if EXT link up with their next door neighbor RIO or go it alone. Personally I wouldn't be surprised to see a bid emerge.

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