Business
Interest in All Star Minerals
Interest in All Star Minerals.
About this update from Beowulf Mining Plc
[{"type":"text","content":"\n Beowulf Mining PLC\n31 January 2006\n\n\n\n BEOWULF MINING PLC\n\n NEWS RELEASE\n\nBeowulf Mining plc (AIM:BEM), the AIM listed mineral exploration company,\nannounces that it has been gifted 5,000,000 ordinary 1p shares in All Star\nMinerals PLC (All Star).\n\nAll Star is a company with 30,000,000 ordinary shares in issue, of which the\ndirectors are currently Bruce Rowan and Dr Robert Young who is also Managing\nDirector of Beowulf. Dr Robert Young is interested in 5,900,000 ordinary shares\nof All Star and Bruce Rowan is interested in the remaining 19,100,000 ordinary\nshares. The directors of All Star intend for All Star to obtain an OFEX Listing\nand become involved in the exploration and development of thorium, an element\nthat the directors believe is the near-term future of nuclear fuel.\n\nIn the February 2005 US Geological Survey annual report on rare earths it said\non page seven that, 'In the future, thorium's use as a non proliferative nuclear\nfuel is considered a likely replacement for uranium, especially in a world\nconcerned with the threat of terrorism. As demand for thorium increases,\nmonazite would resume its role as a leading source of rare earths.'\n\nThorium was first discovered in 1828 by the Swedish chemist, Jons Jakob\nBerzelius, who named the metal after Thor, the Norse god of war. Thorium, which\nis represented on the periodic table by the symbol Th, has been recognised for\nits ability to power reactors since nuclear energy emerged in the 1950s. Thorium\nmakes up around 0.0007% of the earth's crust, making it roughly three times more\nabundant in the earth's crust than uranium, its more radioactive counterpart.\nHowever, thorium has been largely ignored for nuclear energy due to its atoms\nbeing difficult to split, which is the fundamental requirement of a fission\nreactor.\n\nThorium is composed of a common single stable isotope, 232Th, which can absorb\nneutrons and convert to 233U (uranium-233). From this point 233U undergoes\nfission to generate energy. As well as generating power, a further advantage\nfrom using thorium is the significantly lower level of transuranic waste that is\nproduced compared to a reactor powered by uranium or plutonium.\n\nFor further information contact :-\n\nDr. Robert Young, Chairman\nBeowulf Mining plc Tel: +44-(0)1353 649 701\n\nGavin Burnell\nRuegg & Co. Li...