News

June 25, 2009

VANE Is Building Up Its Uranium Position In Arizona Just As The US Government Is Looking With Renewed Interest At Nuclear Power

By Alastair Ford

VANE Minerals struck a deal this week to acquire rights over a further 16,100 acres of ground in an area of Arizona already identified by the company’s joint venture vehicle with Uranium One as being of strategic interest. Including those inside this joint venture, VANE’s already working up 68 leads in Arizona, with a view to developing a portfolio of short-lived but highly lucrative breccia pipes, which when taken together should help transform VANE into what commercial director Matt Idiens calls “a sensible-sized uranium company”.

Half a mile down the road from one of VANE’s prospects is Denison’s Canyon mine. This is on the cusp of receiving air and water quality permits from the Arizona Department of Environmental Quality, at which point Denison will be able to press “go” on development and start mining. That’s significant for VANE in a number of ways. First for fans of basic “nearology”, it will show an operating and profitable uranium mine almost in VANE’s back yard. But second, and perhaps more importantly, it will...