17/09/2008 - 13:59

Perth firms advance WA uranium projects

17/09/2008 - 13:59

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Perth-based companies U3O8 Ltd and Uranex NL have moved quickly to progress the development of their Western Australian uranium projects following the Liberal Party win in the state election.

Perth-based companies U3O8 Ltd and Uranex NL have moved quickly to progress the development of their Western Australian uranium projects following the Liberal Party win in the state election.

Today U3O8 said it will complete another round of resource drilling and additional mining studies over its Dawson-Hinkler project, to add to its already completed scoping study of the project.

The study was completed earlier this year and identified the potential of the project to become a standalone operation.

Meanwhile Uranex said it will immediately launch a scoping study into its Thatcher Soak uranium project, which will look into applicable mining methods, impacts on the environment and product refinement levels.

The activities by U3O8 and Uranex follows decisions by a number of companies with uranium assets in WA to advance their projects.

This week Energy & Minerals Australia Ltd started drilling at its Mulga Rocks uranium deposit while Canada's Mega Uranium has decided to accelerate the development of its Lake Maitland project.

Shares in Uranex was up 0.5c to 23c while shares in U3O8 was down 1c to 29c at 15:40 AEST.

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