Thundelarra to retain uranium assets
An improving global market for uranium has convinced Thundelarra Exploration Ltd to reverse its plans to spin off its uranium assets.
Thundelarra said that after a review by its board, the group now intends to build a strong uranium asset base to complement its nickel, precious metal and base metal projects.
The board said that having regard to improving commodity and market conditions, particularly for nickel and uranium, the intention now is to build on it uranium assets.
The West Australian company has an interest in 30 uranium exploration tenements covering 6,500 square kilometres.
Thundelarra expects development of its Copernicus nickel mine to commence in late 2006 generating a cashflow which the company will use to explore its other prospects, particularly in uranium.
