Korab has been approached by – it says – a number of listed companies wanting to back Uranium Australia and its prospects into their companies.
This is significant, and is possibly the strongest indicator to date that some money may now be coming off the sidelines and looking for opportunities in the uranium exploration sector.
Other recent developments back up this theory.
Stronger than expected earnings emerging from US multinationals last week will likely help Australian share markets start firmly this week.
If other US bluechips due to report this week follow Citigroup and General Electric’s surprise quarterly results, the Wall Street rally is set to continue, giving the Australian market further confidence during the week.
Higher metals prices on the London Metals Exchange on Friday, including a 4 per cent rise in the zinc price, is another reason to expect the market to open higher, CommSec chief economist Craig James said.
We’ve had China’s Henan Provincial Non-Ferrous Metals getting into bed with Uranium United and its Northern Territory uranium targets. Aura Energy this morning has come out with a very bullish take on its Swedish exploration.
Among other recent announcements, we’ve seen Western Uranium spring back to life by acquiring West Australian ground, Uranium Exploration Australia unveiling a big presentation on its projects and its alliance with one of India’s large conglomerates, Toro Energy applying for a mining licence for the Lake Way project near Wiluna and Impact Australia kick-starting work on its Nowthanna project 70km from Meekatharra.
What is also interesting is that, while South Australia has had the running to itself on welcoming uranium mining, much of the enthusiasm now is for Western Australia following the change of government (and policy) there.