PRZOOM - /newswire/ -
Sarasota, FL, United States, 2007/04/09 - Some uranium projects might never be mined because of the ‘water factor.’ A new interview with Glenn Catchpole explains how water problems could prevent some types of uranium mining deposits from being economically mined.
Uranerz Energy chief executive Glenn Catchpole cautioned StockInterview.com about some uranium deposits which may never become mines, “There are deposits in Wyoming that are good in terms of grade, but they are completely above the water table.” Catchpole added, “They are not saturated. The uranium ore body itself must or should be in a confined aquifer. If there’s no water in the formation and it’s dry, then you can’t solution mine.”
Many analysts evaluating uranium companies, which are developing their In Situ Recovery (ISR) projects to become uranium mines, have not factored ‘water’ into their dollar value-per-pound assignations to a company’s deposit(s).
Asked about his company’s uranium deposits Catchpole answered, “In our case, we focused our acquisition activities in the Powder River Basin (Wyoming), which we know from our previous work. From our experience we pretty much know those deposits that may be sitting above the water table.” And what is the fate for those uranium deposits not in a confined aquifer? Catchpole advised, “If uranium went to $500/pound, maybe some day you could put a conventional mine on them.”
Stockinterview.com is an online news service, which provides investigative reporting, editorial, analysis and provocative commentary of the nuclear fuel cycle, uranium mining, nuclear power, energy and the environment, biotechnology research and the natural resource industry. StockInterview.com is now the most popular website for uranium mining stocks as a result of its best-selling publication, “Investing in the Great Uranium Bull Market: A Practical Investor’s Guide to Uranium Stocks.”
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