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#1
04-05-2011, 08:59 PM
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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.  Previous posts about Extract I hold EXT.
Disclaimer: The author of this post, may or may not be a shareholder of any of the companies mentioned in this column. No company mentioned has sponsored or paid for this content. Comments on this forum should never be taken as investment advice. 
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