There is to be an invigorated exploration focus in 2009 by Impact
Minerals Limited on the promising Nowthanna uranium deposit in
Western Australia. The Company says the decision follows the promining
WA election result and continued confirmation that nuclear
power has moved to a cornerstone position in the energy mix of
established and emerging economies.
As joint owner of Nowthanna, Impact (ASX code “IPT”) said today
the 2009 work program was firming after a careful assessment by
the Company over the past two months of the revised economic
outlook for the deposit, and on-going discussions with the other
owners.
“It is essential to the Company amid the current uncertainty in
global equity markets, the cutbacks in some mining quarters and the
euphoria of a pro-uranium mining WA election result, that the right
decision is made about Nowthanna’s future,” Impact’s Managing
Director, Dr Mike Jones, said today.
“There is no doubt the recent overturn by the WA Government on
the ban on uranium mining in that state has been very positive for
uranium miners and explorers, and will clearly precipitate
significant developments in this field over the next 3-5 years,” Dr
Jones said.
“Nowthanna is being moved up the scale in 2009 so that it can be
one of the early players in the emergence of a modern-era uranium
exploration sector in WA.
“And, unlike falls in base metal prices which lead to major falls in
orders, greater stockpiles and the marginalisation or closures of
mines, the current easing of long-term prices for uranium to realistic
and sustainable levels, favours demand for new production and
mines.
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