Renewable energy stops delivering when the wind doesn't blow or the sun doesn't shine. Cities need a reliable supply of electricity. Nuclear power is the cleanest form of energy on the planet. Major mines in the Athabasca Basin include McArthur River (16.5% U3O8), Maclean Lake (50 million lbs produced), Rabbit Lake (186 million lbs produced), Cigar Lake (22.3% U3O8), Cluff lake (60 million lbs produced). "In the future, the Athabasca Basin will be the biggest source of uranium for the whole world," stated Uranium Guru Thomas Drolet in a recent interview with Financial Press. Vietnam, Turkey, Indonesia, Egypt and Kazakhstan are all building their first reactors.Īccording to the World Nuclear Association, Global uranium demand will rise 48% by 2023. Japan will begin restarting these nuclear plants in 2015.Ĭhina has 28 nuclear reactors under construction, with another 49 planned and 120 proposed. Uranium prices have been suppressed by surplus inventories created by Japan's 50 shut down reactors. Makena appears to be part of a rising tide. The upcoming ground survey and drill program will reveal whether these anomalies have associated uranium mineralization." "We have multiple targets that we are in the process of testing," stated Schimann, "The identified structures are often associated with uranium mineralization. The basement is estimated to be at a depth of about 150 metres, based on historical drill holes within the property and adjacent to it. Two of these structures trend NW and one trends NE. Schimann involved, we are even more optimistic about the ability to develop this uranium project."Ĭombining magnetic and the electromagnetic data, three structures have been mapped on the Patterson Uranium Property. Schimann's experience and pedigree within the Athabasca Basin to our advisory committee demonstrates Makena's focus on developing the Patterson Block of properties," stated Adam, "With Dr. Ten of Schimann's years at AREVA were spent in uranium exploration and mine development, mainly in the Athabasca Basin. From 1977 to 1997, Schimann was employed by French uranium giant AREVA as a Senior Geologist, where he was a key member of the team that discovered the massive Cigar Lake uranium mine. As Makena has a current market capitalization of less than $2 million, management feels that Makena may potentially benefit from some of these funds considering we directly border this discovery,'" stated Adam. We may potentially be looking at up to $500 million of unallocated investment capital that may be reinvested in the Patterson district. "Many investors who would profit if a buyout occurs are likely going to look in the Patterson district again, and more than likely will look at the juniors in the area. Cameco bid for Hathor's Roughrider deposit in 2011 but lost to Rio Tinto. (CCO-TSX), Canada's largest uranium company, is another potential buy-out candidate. (DML-TSX), the Lundin backed uranium producer that has expansion ambitions in the Athabasca Basin. Makena is about to conduct a gravity survey on its property for the first time, with the intention of defining drill targets by March 2015.īuyout candidates for FCU include Denison Mines Corp. "Our Patterson land package is bordering the Fission discovery," confirmed Makena President and Director Negar Adam in an exclusive interview with Financial Press, "We believe this may have caught the attention of the market and is giving Makena a wider audience." One of the smallest of these companies - and arguably the most leveraged is Makena Resources (MKN-TSX.V) (CANSF-OTC), whose Patterson property directly border Fission's Patterson Lake discovery.
The estimate has heated up rumours of an FCU buyout - which could have significant ramifications for other uranium explorers adjacent to the discovery.
#Fission uranium buyout plus
The deposit contains an indicated uranium resource of 79.6 million pounds U3O8, plus an inferred resource of 25.9 million pounds for a total resource of 105 million pounds.
(FCU-TSX.) released a maiden resource estimate for its Triple R Deposit at Patterson Lake South, Saskatchewan that radically exceeded the projections of all uranium analysts. VANCOUVER, BC / ACCESSWIRE / Janu/ Interview with Negar Adam, President, Director Makena Resources (MKN-TSX.V) (CANSF-OTC) on JanuFission Uranium Corp. Micro-Cap Makena Resources Develops Uranium Project Adjacent To Discovery
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