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Answers - World's Next Uranium Producer Plans U.S. Encore
We recently spoke with SXR Uranium One Chief Executive Neal Froneman in a tape-recorded telephone interview. The problem with Froneman is which to choose from the many ‘news headlines’ he provides during the course of an interview. At least one industry trade reporter told us she thought he was a ‘showman.’ We agree, but we also must emphasize Froneman keeps his promises. If you regularly read the South African press, the country where SXR plans to
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
open the world’s next uranium mine, the oft-quoted concern voiced by mining analysts is whether a mining company is turning ‘promises into production.” Or not.
World-renown for gold and diamond production, South Africa takes mining seriously. We doubt Afrikanners gaze upon the North American resource stock promotion schemes with anything more than a chuckle or umbrage. It appears that only during the past six months did SXR finally win over the maj
World-renown for gold and diamond production, South Africa takes mining seriously. We doubt Afrikanners gaze upon the North American resource stock promotion schemes with anything more than a chuckle or umbrage. It appears that only during the past six months did SXR finally win over the maj
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
rity of mining analysts, especially those tough cookies in Jo’burg.
It has become evident to us that Neal Froneman is one of a handful of uranium mining company chief executives who pushes a project through to production. On a much smaller scale, Paladin Resources’ John Borshoff proved he could execute on his company’s Langer Heinrich deposit in Namibia. Mining is a difficult profession involving a great number of variables. As we’ve seen with Came
It has become evident to us that Neal Froneman is one of a handful of uranium mining company chief executives who pushes a project through to production. On a much smaller scale, Paladin Resources’ John Borshoff proved he could execute on his company’s Langer Heinrich deposit in Namibia. Mining is a difficult profession involving a great number of variables. As we’ve seen with Came
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
co’s Cigar Lake flooding, uranium may be the toughest metal to mine. Certainly, uranium mining is the most regulated and environmentally challenged.
On Tuesday, RBC Dominion Securities analyst Adam Schatzker initiated coverage on SXR Uranium One with an ‘outperform’ rating, writing that SXR “offers excellent exposure to the current strong uranium market with strong production growth and a very large reserve base.” SXR Uranium One’s market capitaliz
On Tuesday, RBC Dominion Securities analyst Adam Schatzker initiated coverage on SXR Uranium One with an ‘outperform’ rating, writing that SXR “offers excellent exposure to the current strong uranium market with strong production growth and a very large reserve base.” SXR Uranium One’s market capitaliz
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
tion has been quickly approaching US $2 billion since Cameco Corp announced the Cigar Lake uranium mine flood this past October. The company trades on both the Johannesburg and Toronto stock exchanges.
Interview Summary
In the interview below, Neal Froneman compares SXR’s Dominion uranium mine to Cigar Lake, and concludes his mine will become “one of the great uranium ore bodies of the world.” He discussed the Dominion expansion plan to mine up to
Interview Summary
In the interview below, Neal Froneman compares SXR’s Dominion uranium mine to Cigar Lake, and concludes his mine will become “one of the great uranium ore bodies of the world.” He discussed the Dominion expansion plan to mine up to
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
7.5 million pounds per year over a thirty-year mine life. Froneman discussed his uranium marketing strategy, how his company will bounce back from the RTZ/Sweetwater disappointment and what sort of uranium acquisition SXR Uranium One will next make and when. After all, they’ve raised a lot of money.
StockInterview: You had announced in previous interviews that SXR’s Dominion mine could rank as one of the world’s Top Ten, possibly one of the Top Fi
StockInterview: You had announced in previous interviews that SXR’s Dominion mine could rank as one of the world’s Top Ten, possibly one of the Top Fi
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
ve, uranium mines. What makes you say that?
Neal Froneman: We are only scratching the top of the iceberg with Dominion. What we quote as ‘Dominion,’ it is really two ore bodies right next to each other: Dominion and Rietkuil. That’s what we commonly call Dominion. We have just been awarded a number of prospecting permits that are contiguous with Dominion. If you look at the size of that continuity, it’s enormous. Dominion, on its own as it stands
Neal Froneman: We are only scratching the top of the iceberg with Dominion. What we quote as ‘Dominion,’ it is really two ore bodies right next to each other: Dominion and Rietkuil. That’s what we commonly call Dominion. We have just been awarded a number of prospecting permits that are contiguous with Dominion. If you look at the size of that continuity, it’s enormous. Dominion, on its own as it stands
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
ight now, is an ore body that is known to have a resource of 350 million pounds. The grades approach 1 kilogram a ton. It’s technically low-risk, shallow mining. That’s a very large deposit. That is starting to rank with the Cigar Lakes, and those types of deposits in size. Of course, it’s much bigger. That is exactly why I say with a lot of confidence Dominion will be seen to be one of the great uranium ore bodies of the world.
StockInterview: How
StockInterview: How
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
much mine life do you anticipate from Dominion with a resource that size?
Neal Froneman: If you mine three million pounds per year, that’s 100 years of life. Clearly, that’s a silly economic model. Our initial phase of mining takes us up to just under four million pounds. We are working on an expansion plan that would see the production doubling to about 7 to 7.5 million pounds. We would then bring the mine life into the region of thirty years. Wit
Neal Froneman: If you mine three million pounds per year, that’s 100 years of life. Clearly, that’s a silly economic model. Our initial phase of mining takes us up to just under four million pounds. We are working on an expansion plan that would see the production doubling to about 7 to 7.5 million pounds. We would then bring the mine life into the region of thirty years. Wit
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
h these additional prospecting permits, and some of the other new areas that we have identified, we would not have to go deeper than 500 meters for quite a long time. These areas extend on strike. These extensions move up to the width on strike.
StockInterview: The most recent uranium producers, such as Paladin Resources and UrAsia, have been vague about which utilities are buying their recently mined uranium. Are you selling your future production
StockInterview: The most recent uranium producers, such as Paladin Resources and UrAsia, have been vague about which utilities are buying their recently mined uranium. Are you selling your future production
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
in Europe, the U.S., or Asia?
Neal Froneman: Most of our contracts are with U.S. utilities. I try not to be too specific because the utilities are the ones who are sensitive about this. Our focus is on the western world and, for now, most of our contracts are with U.S. utilities. Our U.S. strategy is about developing U.S. uranium deposits for U.S. utilities. I think you will get the support of the NRC, you will get the support of the U.S. utilitie
Neal Froneman: Most of our contracts are with U.S. utilities. I try not to be too specific because the utilities are the ones who are sensitive about this. Our focus is on the western world and, for now, most of our contracts are with U.S. utilities. Our U.S. strategy is about developing U.S. uranium deposits for U.S. utilities. I think you will get the support of the NRC, you will get the support of the U.S. utilitie
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
, and you will command a premium for your production. If there is excess production, we would be open-minded. As long as countries comply with the International Atomic Energy Agency requirements, we would consider selling to them, but our primary market would be the United States. Where we’ll get our best deal, we will do our best deal.
StockInterview: And for your company’s Honeymoon project in Australia?
Neal Froneman: We are expecting first qu
StockInterview: And for your company’s Honeymoon project in Australia?
Neal Froneman: We are expecting first qu
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
arter 2008 production out of Honeymoon. We are already constructing the (ISL) mine. We’ve done further test work. We’ve done pre-production drilling so Honeymoon is a very advanced project. Half of it (the production) is already contracted with U.S. utilities, but there’s no doubt the Australian government has set up a relationship with China. It would be appropriate, I think, ‘when in Rome, you do as the Romans do,’ or you would respect what they
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
ould like you to do.
StockInterview: When will you hold the official opening ceremony for Dominion?
Neal Froneman: It is a very significant event, but we would start up and announce that we started production. Then, we would have an official opening. This really ties up into when you can get the appropriate dignitaries to come. When I was at the mine, they had one of these electronic banners that said X days to production. Certainly by the end of
StockInterview: When will you hold the official opening ceremony for Dominion?
Neal Froneman: It is a very significant event, but we would start up and announce that we started production. Then, we would have an official opening. This really ties up into when you can get the appropriate dignitaries to come. When I was at the mine, they had one of these electronic banners that said X days to production. Certainly by the end of
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
ebruary or early March, we are expecting to commence production.
StockInterview: How did you react when you first heard the news from RTZ about the Sweetwater uranium mill, and what do you plan to do with the money you’ve raised for that purchase?
Neal Froneman: I was really, really disappointed. It is a setback, and I would be lying if I said it wasn’t a setback. But, I have to tell you that we’ve not been sitting on our hands while we’ve been cl
StockInterview: How did you react when you first heard the news from RTZ about the Sweetwater uranium mill, and what do you plan to do with the money you’ve raised for that purchase?
Neal Froneman: I was really, really disappointed. It is a setback, and I would be lying if I said it wasn’t a setback. But, I have to tell you that we’ve not been sitting on our hands while we’ve been cl
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
osing or working towards closing these transactions. I personally think it was a major mistake why RTZ did it. I don’t fully understand the logic, but it was very disappointing. Certainly, Shootaring (Canyon mill in Ticaboo, Utah) is turning out to be a very nice asset with, I think, more potential than what we initially imagined. That has been nice, but it doesn’t replace Sweetwater. We have to find other assets in the United States, and we have no
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
been sitting on our hands. I can’t tell you much more than that at this stage. But what I can say to you is watch the space. I would say that within this quarter you will see progress. Our view on the United States, despite the disappointing setback on Sweetwater, has not changed. We will be as active as we said we would be.
StockInterview: Where will you focus your attention for acquisition candidates?
Neal Froneman: I think that if you are goin
StockInterview: Where will you focus your attention for acquisition candidates?
Neal Froneman: I think that if you are goin
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
to be a uranium company of substance in the space, you have to focus on the advanced projects. I would say it’s not smart to buy assets that are in the early stage of development. I think that the traditional uranium areas in the United States are the ones that I find still exciting. Wyoming is a great place to hold uranium mines. Utah? We are already there. There is great potential in Arizona. I like New Mexico. I think that New Mexico, Arizona,
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
Colorado, Utah and Wyoming are specifically very nice targets. The assets of interest, and probably should be of interest to most people in our space, are assets that are pretty well advanced. These are the ones that have got good historical assets that you can take through the permitting and feasibility study phases quite quickly. Or assets that are already in the process of being permitted. I would suggest this as a smart strategy, and one that we
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
would be doing.
StockInterview: Will you pursue the U.S. listing we talked about in a previous interview?
Neal Froneman: Yes. You really should know that I don’t think you can be a world-class uranium company with the U.S. as a major destination, from an asset point of view, and not have a listing in the United States. Our listing will come. It’s inevitable, and we look forward to that.
COPYRIGHT 2007 © by StockInterview, Inc. ALL RIGHTS RESERVED
StockInterview: Will you pursue the U.S. listing we talked about in a previous interview?
Neal Froneman: Yes. You really should know that I don’t think you can be a world-class uranium company with the U.S. as a major destination, from an asset point of view, and not have a listing in the United States. Our listing will come. It’s inevitable, and we look forward to that.
COPYRIGHT 2007 © by StockInterview, Inc. ALL RIGHTS RESERVED
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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