The Midas Letter(Editorial) reports Strateco Resources is the only uranium mine applicant at CNSC.

The company’s 100% owned Matoush Project in the Otish Mountains of Quebec is the focus of a continuing 60,000 metre drill program designed to meet the company’s target of minimum 40 million pounds of Uranium Oxide resources before going into production at some point, they think, in 2013.

President & CEO of Strateco Resources, Guy Hébert says:

“Matoush is without doubt the main focus of the company.”  “We will for sure be seeking the license for construction of the mill in 2010, which gives us 13 -1 4 months to determine exactly what the capacity of that mill should be. “Last year we did 60,000 metres of drilling and we discovered two very big lenses, and the drilling we did earlier this year proved that we have additional mineralization not far from the main lens. The structure is very flat-laying and easy to follow, and so we are focused on defining it as quickly as possible so that we can submit the specifications for the mill in the licensing process, which takes about three years.” “At this point we can see2.3 million pounds per year of production, but optimally we would like to produce 4 million pounds per year which means we need to prove up at least 40 million pounds of uranium oxide because we are looking for a minimum mine life of 10 years.”

For complete details of this editorial, click this link.

To view  Strateco Resources’ company profile, click here.

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