Business
Urasia Energy on schedule with South Inkai and Kharassan construction
Urasia Energy on schedule with South Inkai and Kharassan construction.
About this update from Uranium One Mining Corp.
[{"type":"text","content":"\n\n\n\n\nTrading Symbol (TSXV: UUU and AIM: UUU)\n\nVANCOUVER, Nov. 14 /CNW/ - UrAsia Energy Ltd. (the \"Company\" or \"UrAsia\")\nis pleased to provide an update on the construction progress at the South\nInkai and Kharassan uranium projects in the Republic of Kazakhstan. The\nCompany has a 70% interest in the Betpak Dala Joint Venture, which has a 100%\ninterest in the South Inkai uranium project \"South Inkai\" and the Akdala\nuranium mine \"Akdala\". In addition, the Company has a 30% interest in the\nKyzylkum Joint Venture, which has a 100% interest in the Kharassan uranium\nproject \"Kharassan\".\n\nSouth Inkai Construction Progress\n\nSouth Inkai is located in the Suzak region of the South Kazakhstan\nOblast, approximately 500km northwest of Shymkent. Planned start-up of\nproduction activities is scheduled in the fourth quarter of 2007.\n\n>\n\nKharassan Construction Progress\n\nThe Kharassan development project is located in the Suzak region of the\nSouth Kazakhstan Oblast, approximately 250km northwest of Shymkent. Planned\nstart-up of production activities is scheduled in the fourth quarter of 2007.\n\n>\n\nAkdala Process Plant Upgrades\n\n>\n\nThe Akdala mine is currently producing 2,600,000 pounds U(3)O(8) per\nyear. The production rate was reached ahead of schedule in April this year.\nUrAsia's attributable share of production is 1,800,000 pounds U(3)O(8).\nCommenting on the construction progress at South Inkai and Kharassan,\nPhillip Shirvington, President and Chief Executive Officer, said \"UrAsia has\nachieved some significant milestones since it acquired its interest in both\nthe South Inkai and Kharassan projects a year ago. Site construction at South\nInkai and Kharassan commenced on schedule; exploration drilling is progressing\nwell following the successful formation of Joint Drilling Company LLP; and\nplans to improve and upgrade the infrastructure at Kharassan have been\nimplemented. The primary objective is to ensure that we are able to start-up\nproduction activities at both South Inkai and Kharassan in the fourth quarter\nof 2007, as planned, and to continue to optimise our operations at Akdala.\"\n\nUrAsia is a Canadian-based uranium producer that offers investors\nexposure to low-cost, uranium production and growth. The Company creates\nshareholder value by focusing on the development and operation o...