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Just Answers - Wyoming's Uranium Mining Frenzy
From the first discovery of uranium in Wyoming by J.D. Love in 1951 until the mid 1980s, Wyoming was once among the world's top uranium producers. Since then, a combination of a global depression in uranium producers and the emergence of other low cost producing areas, notably Canada's Athabasca Basin, Central Asia's Kazakhstan, and Africa's Namibia, dropped Wyoming to o
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
ne of the lower ranking uranium producers. But, over the past five years, the spot price of uranium has reversed its decline and stagnation. Now, Wyoming is again in the spotlight as a significant uranium producer. A visit to Wyoming's land office confirmed interest in Wyoming's uranium has skyrocketed.
“Staking activity is up significantly,” said Lynne Boomgaarden, Wy
“Staking activity is up significantly,” said Lynne Boomgaarden, Wy
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
oming’s Director for the Office of State Lands and Investments, referring to the number of claims filed for uranium development in her state. “We have really seen a significant increase since about June 2004. We took one lease application to the board in April 2004. In June 2004, we had 30 or so applications. That’s when we really saw the increase.” In June 2004, David M
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
iller of Strathmore Minerals quickly filed 10 minerals claims for uranium. On his heels, William Sheriff began filing claims as well. Since then, pages and pages of claims covering tens of thousands of acreage have been filed by Miller, Sheriff, their associates and their respective companies.
Subsequently, others jumped into the rush for Wyoming’s state uranium claims.
Subsequently, others jumped into the rush for Wyoming’s state uranium claims.
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
From Crook, Campbell and Converse counties to Carbon, Sweetwater and Fremont, most of the available state trust lands, where uranium rollfront deposits had been previously identified by drilling during the previous two uranium booms, were snapped up. From Wyoming’s Powder River Basin, where most of America’s uranium and coal is produced, to the Great Divide Basin, which
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
has seen uranium mining, any serious players, who wanted to quickly establish an in situ leach (ISL) mining operation in Wyoming, marked their territory.
“Most of the activity we’ve seen in leasing has been speculative activity,” explained Boomgaarden. “We don’t have new mines and new operations right now.” She added, “When I first came here in the spring of 2003, ther
“Most of the activity we’ve seen in leasing has been speculative activity,” explained Boomgaarden. “We don’t have new mines and new operations right now.” She added, “When I first came here in the spring of 2003, ther
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
e was nothing.” A few changes have taken place, which Boomgaarden and many others have noticed. Through the first half of 2003, spot uranium prices stagnated around the $11/pound level. On March 3rd, spot uranium traded at $39.25/pound, according to TradeTech LLC, which keeps track of weekly and monthly spot uranium sales.
Holding costs on Wyoming’s state trust lands ar
Holding costs on Wyoming’s state trust lands ar
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
e affordable to speculators, when the underlying commodity in question has had a 500 percent increase in the past 62 months. Applicants file a lease application and pay an annual lease fee of $1/acre for each of the first five years of the lease. The application is presented to the Wyoming Board of Land Commissioners, which meets every other month. “Our royalty revenues
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
from uranium have been pretty flat,” said Boomgaarden. “We can only hope as fiduciaries that we will enjoy operations on these leases that result in royalty returns.” And it appears her wish may soon be granted.
The key reason is that ISL mining is amenable in Wyoming's sandstone geological formations. ISL, or solution mining, is said to be environmentally friendly, rel
The key reason is that ISL mining is amenable in Wyoming's sandstone geological formations. ISL, or solution mining, is said to be environmentally friendly, rel
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
atively easy and fast to put into operations, and economic at the current high price. Wyoming is the home to ISL mining, but current uranium production from this method is paltry compared to other global hot spots, such as Australia or Kazakhstan. About 16 percent of the world's uranium mining comes about from the ISL method. Carbonated water, similar to club soda or per
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
rier, is pumped into the ground to loosen up the uranium from the sandstones and then captured in "resin," comprised of tens of thousands polymer beads. An ISL is self-contained, meaning that uranium and the deadly radon gas that is released during conventional uranium mining, does not escape into the atmosphere. Because it has emerged as the safest method of uranium min
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
ing, ISL's popularity has continued to increase each year.
Uranium ISL’s May First Start in Wyoming’s Powder River Basin
Wyoming's Powder River Basin appears to be the likely location for a number of future ISL operations by uranium development companies. Of the six companies interviewed, five expressed their initial ISL operation would be established in Wyoming’s Pow
Uranium ISL’s May First Start in Wyoming’s Powder River Basin
Wyoming's Powder River Basin appears to be the likely location for a number of future ISL operations by uranium development companies. Of the six companies interviewed, five expressed their initial ISL operation would be established in Wyoming’s Pow
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
der River Basin. The most prolific coal- and uranium-producing areas in the United States, the tri-state Powder River Basin lies between Wyoming’s Laramie Mountains, the Big Horn Mountains of Montana and Wyoming, and the Black Hills of South Dakota. According to the U.S. Geological Survey published in 2002, the Powder River Basin was estimated to have a mean of 16.5 tril
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
lion cubic feet of undiscovered natural gas, 1.5 billion barrels of undiscovered oil and 86.5 million barrels of undiscovered natural gas liquids. It has been geologically prolific for uranium because the host formation is the Eocene age Wasatch Formation, which occurs under the entire area.
At the southern part of the Power River Basin, Cameco’s wholly owned subsidiary
At the southern part of the Power River Basin, Cameco’s wholly owned subsidiary
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
, Power Resources, has been steadily producing uranium oxide (U3O8) at their Smith-Highland Ranch. In 2005, Cameco reported production of 1.3 million pounds. The property has published proven and probable reserves of 16.1 million pounds of U3O8. Capacity could run up to 2 million pounds annually at each of their two processing facilities.
Three of the six uranium develo
Three of the six uranium develo
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
pment companies interviewed also stated they intended to fast-track their ISL operation by creating a “satellite facility.” Such a facility would eliminate the requirement for a Nuclear Regulatory Commission (NRC) license. Those uranium development companies plan to “attach” a solution mining operation to an established producer. Under such a circumstance, the company wo
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
uld solution mine (also known as in situ leach mining) uranium on its property. The uranium would then be shipped to an established producer for processing. Because the spot uranium price is rising, and may hold around these levels (or soar higher), a profit-sharing arrangement negotiated by the newly producing uranium company and the more established company would proba
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
bly make sense.
Look for Wyoming to emerge as a hot area for uranium production, with companies who mine there also enjoying strong price appreciation in their share prices. But, that's only going to last for as long as uranium prices stay at the current level or break through the $40/pound barrier. The last time we saw the uranium price at this level, Ronald Reagan was
Look for Wyoming to emerge as a hot area for uranium production, with companies who mine there also enjoying strong price appreciation in their share prices. But, that's only going to last for as long as uranium prices stay at the current level or break through the $40/pound barrier. The last time we saw the uranium price at this level, Ronald Reagan was
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
president. The important barometer to a sustained uranium price above $40/pound depends upon whether the public utilities talk up their plans for more U.S. nuclear plants, the climate for nuclear energy continues to gain global momentum, whether China and India (and the dozens of other companies) continue to express their demand for more nuclear energy as a means to pro
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
viding electricity without the pollution impact of coal or petroleum, and mostly whether or not another nuclear accident occurs, i.e. Three Mile Island or Chernobyl. If all these criteria remain in place, then uranium development companies are better leveraged for share price appreciation in the coming decade.
COPYRIGHT © 2007 by StockInterview, Inc. ALL RIGHTS RESERVED
COPYRIGHT © 2007 by StockInterview, Inc. ALL RIGHTS RESERVED
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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