New York, NY (PRWEB) March 27, 2007
Uranium Miner's Market Price Review reported the weekly spot uranium price indicator was raised to a record US$95/pound.
The change came ahead of this coming week's sealed-bid auction of 100 thousand pounds of U3O8 (also known as uranium oxide or yellowcake) in Corpus Christi, Texas. Uranium Miner conducts a weekly review of several major uranium suppliers and brokerages to ascertain the market price of U3O8 per pound in US dollars. The price is averaged based on survey and observation. Prices for U3O8 "under contract" are obviously not included.
Our sources familiar with the bidding process tell us that "over three million pounds in total is actively being secured by several interested and unrelated parties." Additionally we are advised "another 100 thousand pounds will be offered for sale in a sealed-bid auction next week with delivery in April by an un-named seller". The results of this weeks auction will set the stage for next weeks and a possible breach of the psychological $100 barrier.
Uranium Miner also tracks active uranium mining interests worldwide providing insight into uranium resource companies that offer outstanding properties, management and experience in the mining and mining exploration industry. This week's feature article is on Cornerstone Capital Resources Inc. (OTC: CTNXF) (TSX.V: CGP) (F: GWN).
The article can be viewed free of charge at http://uraniumminer.net
Excerpts from Editors Notes of the Feature Article:
"Cornerstone Capital Resources Inc. employs a joint venture business model for the development of their properties at little or no cost to themselves and is then able to focus on what it does best; generating more new high potential projects through a skilled and dedicated technical crew. This business model has been successful for several years now and has allowed CGP to maximize shareholder value, avoid share dilution, put itself in a position of strength with quality properties under development, and minimize risk. The large quality portfolio of assets and deals CGP possesses appears to be disproportionately undervalued relative to it's market cap; with only 50K shares outstanding and a share price of less than US$0.65, investor should pay attention to Cornerstone now.
Cornerstone is reaping the results of diligent efforts and now possess an arsenal of quality projects including (but not limited to) prized holdings of:
Aillik uranium property in Labrador (JV with Cash Minerals CDN$3.3M+ exploration commitment, Aillik has the same geological makeup as the nearby 35M lb U3O8 Aurora Michelin deposit and it is believed the Aillik property contains the extension of a corridor containing the Otter Lake uranium property).
Shyri and La Plata gold properties in Ecuador (JV with Coastport US$9M exploration + CGP gets a large equity ownership commitment, Shyri is adjacent to famed IAMGold Quimsacocha Ecuador gold project, Cornerstone has reported 53.3 G/T Au and 641 G/T Ag Over 3.4 m at the Shyri Project)."
Full copy is available at the following URL http://uraniumminer.net
This release may contain forward-looking statements regarding future events that involve risk and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual events or results. Reports herein are for information purposes and are not solicitations to buy or sell and of the securities mentioned. Readers are referred to the disclaimer and disclosure section at the bottom of the following URL http://uraniumminer.net.
# # #