Mining Weekly reported that Peru has the potential to become a major producer of uranium when exploration company Macusani Yellowcake will begin its production from the Macusani Plateau.
Articles Tagged "Macusani Yellowcake"
This week, the uranium spot price fell 50 cents, to $43 per pound U3O8; however, the market is anticipating higher prices down the road.
Macusani Yellowcake Inc. (TSXV:YEL,FWB:QG1) reported updated drill results reported on January 24, 2013. A miscalculation for the grade of a 2 meter intersection (from 49.0m) on Borehole PT-QB32-TNW was corrected.
Both industry experts and market watchers are confident that uranium spot prices will begin to rise this year as nuclear power plants are constructed and commissioned around the world.
Although volatility still hangs over the market, bullish sentiment from most industry analysts dominates any discussion of uranium’s long-term outlook.
Mining Weekly reported that Macusani Yellowcake (TSXV:YEL), a Uranium exploration and development company, released a statement on on Monday saying it has discovered high grade intersections from its flagship Kihitian Property, located in southeastern Peru.
Industry analysts expect a seasonal slowdown in uranium spot market activity as we approach the holidays.
Macusani Yellowcake (TSXV:YEL,FWB:QG1) reviewed the Southern Andes database and concludes that the significant uranium mineralization can be developed, and it has the potential to produce sizeable mineral resources and enable us to reach our 2013 corporate resource target of 55 to 65 million pounds of uranium. The Company also announced continued drilling of three target areas with five drills: three on Kihitian to test the Quebrada Blanca and Chilcuno Chico anomalies, and two at Tupuramani (a new target) to test the extension of the Colibri 2 and 3 anomalies.
Macusani Yellowcake (TSXV:YEL,FWB:QG1) assayed multiple new high-grade intersections from the ongoing drilling program at the Quebrada Blanca anomaly on its Kihitian Property in south-eastern Peru.