Additional Information
Market: ASX
Sector: General Mining - Uranium & Lithium
EPIC: MEY
Latest Price: A$0.01  (8.33% Ascending)
52-week High: A$0.05
52-week Low: A$0.01
Market Cap: A$7.06M
1 year chart
1 day chart
Watchlist/Portfolio

Add to watchlist:

Only registered members can add into watchlist !

Register here !
Marenica Energy
www.marenicaenergy.com.au

Marenica Energy's  (ASX: MEY) strategy is to focus on the evaluation of the Marenica Project as well as to identify and acquire other uranium opportunities globally.

The Company's principal asset is the Marenica Uranium Project located in the uranium rich Damara Province in Namibia. The project covers 527sq km, with high prospectivity for both secondary and primary uranium deposits.

Pdf

Major uranium resource upgrade for Marenica Energy in Namibia

1st Mar 2010, 10:09 am

International uranium company Marenica Energy (ASX: MEY) has significantly increased the resource at its 80% owned Marenica Uranium Project, Namibia by 120% to 85Mlbs uranium (U308).

SRK Consulting (UK) completed the independent estimate and was based on all the results of the 2009 drilling and probing program at Marenica to the end of January 2010.

The updated resource now totals 227Mt grading 170ppm U3O8 comprising an Indicated Mineral Resource of 31Mt grading 175ppm U3O8 and an Inferred Mineral Resource of 196Mt grading 169ppm U3O8 for a combined total of 85 million pounds of contained U3O8.

This represents an 86% increase in tonnage and a 120% increase of approximately 46Mlbs (million pounds) of contained U3O8 to a total of 85Mlbs compared with the previously announced Indicated and Inferred Resource completed in late 2009.

WME’s CEO, John Young, said the 2010 Mineral Resource upgrade, represented a major step forward provided a very solid foundation for the Scoping Study on the Marenica Project which is scheduled to be completed by June 2010.

“With the completion of this landmark resource upgrade it’s now all systems go for Marenica as we forge ahead with an aggressive evaluation and development program in 2010, he said.”

The MEY share price has ticked up to $0.18.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.