Business
UrAsia Energy Ltd. secures second sales contract
UrAsia Energy Ltd. secures second sales contract.
About this update from Uranium One Mining Corp.
[{"type":"text","content":"\n\n\n\n\nTrading Symbol (TSXV: UUU)\n\nVANCOUVER, April 6 /CNW/ - UrAsia Energy Ltd. (the \"Company\" or \"UrAsia\")\nis pleased to announce it is to supply a uranium producer with approximately\n780,000 pounds U3O8 from its Akdala uranium mine in the Republic of\nKazakhstan. The Company has a 70% interest in the Betpak Dala Joint Venture\n(\"Betpak Dala\"), which has a 100% interest in the Akdala uranium mine. The\ndelivery to the producer will be made in the first half of 2006 at market\nrelated prices.\nThis is the second sales contract announced by the Company since it\nacquired indirect interests in three Kazakh-based uranium projects in\nNovember 2005. Commenting on the sales contract, Phillip Shirvington,\nPresident and Chief Executive Officer, said, \"UrAsia is able to take advantage\nof today's high uranium prices and potential price rises to come, as it no\nlonger has any old contracts in place, has negotiated its new contracts this\nyear, and is yet to contract most of its future production - in summary, our\nproduction is unhedged.\"\nThe Kazakh-based uranium projects include: the Akdala uranium mine and\nthe South Inkai and Kharassan, advanced-stage development projects. The\nCompany has filed revised technical reports (dated March 21, 20, 25, 2006\nrespectively and prepared by Roscoe Postle Associates Inc. (\"RPA\")) for each\nof these projects, the reports are available on SEDAR at www.sedar.com. The\ntechnical reports were revised in order to add additional information and to\nclarify certain items, including historical drilling statistics.\nFollowing completion of the Company's revised technical reports and\nfurther to the technical disclosure in its revised Annual Information Form\ndated, February 20, 2006: management confirms that the drilling statistics\nreported for the South Inkai property did include drilling statistics for the\nentire Inkai Uranium Field. Based on recently obtained data from Betpak Dala,\nit is reported that on UrAsia's South Inkai property, drilling consisted of\n600 holes totalling 294,000m.\n\nUrAsia Energy is a Canadian-based uranium producer that offers investors\nexposure to low-cost, uranium production and growth. The Company plans to\ncreate shareholder value by focusing on development and operation of low-cost,\nin-situ leach uranium projects in Central Asia.\nUrAsia is listed o...