Uranium Hunter Corporation (URNH.OB), a natural resource company focused on the exploration and development of uranium and gold in East Africa, recently announced that it has completed a magnetic and radiometric survey of the Ruhuhu Concession. The region is considered to be one of the most promising uranium sites in the world. The survey, which was performed by New Resolution Geophysics (NRG) of South Africa, reveals promising preliminary data. GAP Geophysics of Africa will perform a final geophysical interpretation of the data and release the findings in the near future.
Republican presidential candidate John McCain, who is a long-time supporter of nuclear energy, recently stated that he would like to see at least 45 new nuclear reactors built in the US by 2030. There are currently 104 nuclear reactors providing about 20 percent of the electrical power for the US. Ideally, McCain would like to see the number double by 2030, as no new reactors have been built in the US since the 1970’s.
“China, Russia and India are all planning to build more than a hundred new power plants among them in the coming decades,” stated McCain. “Across Europe there are 197 reactors in operation, and nations including France and Belgium derive more than half their electricity from nuclear power. And if all of these nations can find a way to carry out great goals in energy policy, then I assure you that the United States is more than equal to the challenge.”
Uranium Hunter should receive a geological interpretation of the Ugandan aerial survey data that was recently released by the Ugandan government. A number of entities funded the aerial survey including the World Bank, the African Development Bank, the Government of Uganda, and the Nordic Development Fund. With over 600,000 line kilometers of area to cover, about 50 percent of the flying has been completed. Magnetic horizontal radiometric and gamma-ray spectrometric readings are being taken from a fixed wing aircraft. Aerial readings for the remainder of the area should be completed over the next six months.
“Recent strengthening in the price of uranium is encouraging. We are seeing a strong renewal of interest in our market for Uranium exploration. With all these new reactors being built over the coming years, we expect to see the demand and price of uranium appreciate considerably. We are now well positioned to capitalize on this demand and expect our results to reflect positively in our Company’s bottom line. Once all the results of the airborne surveys are complete, we will release additional information to our shareholders and the investment world,” concluded Ghaith Qamheiah, president of Uranium Hunter.
Uranium Hunter has a number of partnership agreements for properties in East Africa. The company has an agreement with Trimark Exploration, Ltd, to earn up to 100 percent interest in a uranium property located in the Njombe and Songea districts of Tanzania. The company also has optioned a 170 square kilometer property in southern Tanzania, which is covered in sediments that share features with rocks round in the Colorado Plateau in the US that have become high uranium producers. Uranium Hunter has also entered into an agreement with NPK Resources Ltd. to earn a 75-percent interest in the Kibaale district of Uganda. With promising initial findings at all the sites, it looks like Uranium will be able to support the vision that McCain sees for the US.
Let us hear your thoughts: Uranium Hunter Corp. Message Board