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Uranium Resources

  • BY: Andrew Hore |
  • POSTED: 09/01/2008 |

Uranium Resources says that its partner Western Metals Ltd will spend a further A$3.5m on uranium exploration in Tanzania over the next 15 months. 

This news helped the shares increase 0.5p to 4.625p.

Along with its partner Western, Uranium Resources has already invested A$2.5m in exploration in the Karoo Basin in southern Tanzania. There are three main potential projects - Mtonya, Ruhuhu and South Selous.

A drilling programme at Mtonya has identified highly anomalous areas. The main prospect is called Grandfather. Anomalies at Ruhuhu will be investigated this year.

Uranium investment fund Geiger Counter Limited owns 14.43% of the shares.

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