On August 12, 2008, USA Today magazine devoted an entire page to Uranium Hunter Corporation, a company dedicated to the exploration and development of natural resources such as uranium and gold. The company, headquartered in Toronto, Canada, was founded with the focus of developing a portfolio of mineral properties in East Africa, which they believe to be the “world’s next mineral frontier”.
Since their founding in early 2003, the company has been working on the acquisition and exploration of particular areas in and around the Republic of Tanzania and Uganda. Recently the company entered into a definitive agreement with Trimark Explorations, Ltd to earn up to a 100% interest in the Uranium-Au property located in the Njombe and Songea Districts in the Republic of Tanzania. These are proven territories in Tanzania, which in the past five years have exported more than $2.5 billion worth of gold, according to a June 16th report by MineWeb.
Uranium Hunter is also eagerly waiting the interpretation of data retrieved from an aerial survey of several properties in Uganda. The aerial survey is anticipated to be completed within the next six months and has been an ongoing project estimated to cost $42 million that was co-sponsored by the Ugandan government, the World Bank, the African Development Fund, and others. The survey will show results on a more than 600,000 line km and should rather accurately reveal the natural mineral wealth of the country for future exploration purposes.
With the price of uranium holding steady around $64 per pound, and the price of gold coming off of its recent all-time highs, the company is positioned well in a strong market. As the prices for many commodities continues to rise, and with the recent push for alternative fuel sources to stray from non-renewable fossil fuels, the need for uranium continues to grow. Presidential nominee John McCain is a longtime supporter of nuclear energy and was recently quoted as saying he, “would like to see at least 45 new nuclear reactors built in the US by 2030.” If nuclear energy continues to grow in popularity at its current pace, uranium prices could go through the roof, driving growth and value for shareholders of URHN.OB.
Let us hear your thoughts: Uranium Hunter Corp. Message Board