{"id":4563,"date":"2024-01-18T01:35:13","date_gmt":"2024-01-18T01:35:13","guid":{"rendered":"https:\/\/economicherald.net\/?p=4563"},"modified":"2024-01-18T01:35:13","modified_gmt":"2024-01-18T01:35:13","slug":"with-yellowcake-prices-sky-high-manhattan-corporation-seeks-exploration-approval-for-ponton-uranium-project","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=4563","title":{"rendered":"With yellowcake prices sky-high, Manhattan Corporation seeks exploration approval for Ponton uranium project"},"content":{"rendered":"

Ministerial approval request to restart exploration at Ponton being sought
\nPonton is in the Gunbarrel Basin, where paleochannels are known to host a number of uranium deposits
\nUranium prices are skyrocketing, with analysts predicting increasing demand for U3O8<\/p>\n

\u00a0<\/p>\n

Special Report<\/em><\/strong>: Manhattan Corporation is looking to rejuvenate exploration of its Ponton uranium project northeast of Kalgoorlie, with ministerial consent being sought for further drilling of the contained Double 8 deposit.<\/strong><\/p>\n

There\u2019s method to Manhatten Corporation\u2019s (ASX:MHC)<\/strong><\/a> move, as yellowcake prices have skyrocketed since the start of 2023, this week hitting 16-year highs of +US$100\/lb.<\/p>\n

In a note late last year, Sprott Asset Management declared uranium was currently in the midst of a bull market<\/strong><\/a>, with little end in sight.<\/p>\n

\u201cThe energy transition and the willingness of global governments to support the nuclear energy industry are contributing factors to expected long-term supply shortfalls of uranium,\u201d according to Sprott.<\/p>\n

\u201cAs once dormant mines begin to start producing again, disruptions are becoming the trend rather than the exception, making it difficult to close the widening supply\/demand gap.<\/p>\n

\u201cRising uranium prices are leading to renewed investment in the industry, and uranium miners may be uniquely positioned to benefit from the growth in this sector.\u201d<\/p>\n

\u00a0<\/p>\n

Exploring Ponton<\/strong><\/h2>\n

Ponton is just ~40km from the Mulga Rock uranium project \u2013 one of only four in WA to have received state ministerial approval to progress the mining of uranium.<\/p>\n

The Ponton uranium project consists of the Double 8 deposit, which has an inferred resource of 26Mt for 17.2Mlb @ 300ppm uranium oxide (U3O8), using a 200ppm cutoff.<\/p>\n

It\u2019s been historically drill-tested for defined relatively shallow (50-70m deep) palaeochannel sand hosted uranium mineralisation amenable to in-situ metal recovery (ISR).<\/p>\n

The Ponton uranium project and nearby Mulga Rock U3O8 deposit. Source: MHC<\/p>\n

MHC says its 100% interest in Ponton gives it exposure to significant accretive value potential with any future potential change of Australian and WA government policy.<\/p>\n

\u201cThere has been increased interest in the uranium market and a recent lift in both spot and long-term uranium prices. In addition to this increased interest since the Australian Government announced the trilateral AUKUS pact for the Indo-Pacific region for the country to receive nuclear-powered submarines,\u201d MHC says.<\/p>\n

If ministerial approval for exploration is granted, MHC has four exploration targets already identified with the potential to provide additional resources \u2013 extensions to the Double 8 resource, Stallion South, Highway South and Ponton itself.<\/p>\n

\u00a0<\/p>\n\n

\ufeff<\/span>\u00a0<\/p>\n

This article was developed in collaboration with Manhattan Corp, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n

\u00a0<\/p>\n

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n

<\/span><\/p>\n

The post With yellowcake prices sky-high, Manhattan Corporation seeks exploration approval for Ponton uranium project<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Ministerial approval request to restart exploration at Ponton being sought Ponton is in the Gunbarrel Basin, where paleochannels are known to host a number of [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":4564,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4563","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nWith yellowcake prices sky-high, Manhattan Corporation seeks exploration approval for Ponton uranium project - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=4563\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"With yellowcake prices sky-high, Manhattan Corporation seeks exploration approval for Ponton uranium project - 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