Issue link: http://resourceworld.uberflip.com/i/119004
URANIUM PROJECTS by Vanessa MacLean There are over 440 nuclear power reactors operating globally and over 160 new reactors presently planned in China, South Korea, Russia and the United Arab Emirates. These reactors will all require uranium fuel. The following international uranium companies will be the future providers of this fuel and are advancing their projects. Alpha Minerals Inc. [AMW-TSXV] and partner Fission Energy Corp. [FISTSXV] recently released results from five additional drill holes at their Patterson Lake property in the Athabasca Basin, Saskatchewan. The results confirm 53.0 metres of radioactivity extending the strike length of the property by 15 metres. Ongoing drilling is occurring at the property throughout 2013. Athabasca Uranium Inc. [UAX-TSXV; ATURF-OTCQX] is focused on uranium exploration in the Athabasca Basin of Saskatchewan where the company has four projects – Keefe Lake, McCarthy Lake, McGregor Lake and East Key Lake. Bayswater Uranium Corp.'s [BYUTSXV; BYSWF-USOTC] partner Pacific Road Resources Funds has completed a US $2.5-million investment in the Reno Creek in-situ recovery uranium project located in the Powder River basin of Wyoming. The financing is the first part of a US $5.5-million new investment in owner/operator AUC LLC, which together with cash on hand will finance the US $7.5-million 2013 work program. The work is to advance the permitting process and conduct additional drilling. Cameco Corp. [CCO-TSX; CCJ-NYSE], the world's largest publicly trading uranium producer, is months away from opening its Cigar Lake Mine which, having a 20-30 year mine life, is the world's second largest, high-grade, uranium project. The mine, located in northern Saskatchewan, hosts grades 100 times the 28 www.resourceworld.com Cameco's Cigar Lake mine in northern Saskatchewan is the world's second largest uranium project. Photo courtesy of Cameco Corp. world average. Mining is slated to begin in mid-2013, followed by first production from the mill. The opening of this mine could not have come at a better time. Canada and India are soon expected to sign a nuclear cooperation agreement that will include the sale of Canadian uranium to India. In 2012, the countries began implementing the Nuclear Cooperation Agreement drafted in 2010. The sale of uranium arrangement is still being overviewed in India; however, Canadian officials are confident that it will pass, as India recently reached a very similar agreement with Kazakhstan. CanAlaska Uranium Ltd. [CVV-TSX; CVVUF-OTCBB; DH7N-Frankfurt] has been exploring uranium prospects in the Athabasca Basin and surrounding region. The company holds one of the largest land positions in the region, comprising of up to 2,100,000 acres (8720 km2). To date, over $86 million has been spent exploring and identifying high-grade uranium targets on CanAlaska's properties with multiple ura- nium targets being delineated. In January, CanAlaska acquired three claim groups covering 6,687 hectares in the Patterson Lake area of the western Athabasca Basin. Energy Fuels Inc. [EFR-TSX] holds numerous projects and mills in various stages of development all over the US for a total combined U3O8 tonnage of just over 17 million. The company provides approximately 25% of the uranium produced in the US from its Mesa mill in Utah. European Uranium Resources Ltd. [EUU-TSXV; TVCFD-PK; TGP-FSE] is a uranium exploration and development company that has built a portfolio of outstanding projects in Slovakia, Sweden and Finland at all stages of the exploration and development pipeline. Forum Uranium Corp. [FDC-TSXV] is focused on acquisition, development and exploration of uranium projects primarily in the Athabasca Basin and the Thelon Basin, Nunavut. For 2013, the company plans on drilling 3,000 metres in 20 holes, follow up on the Barney, Opie and 2A APRIL 2013