Zambia is a hotbed of uranium exploration

first_imgKinti Mining has signed a joint venture agreement with Samarium Group Holding. The new venture, called Kinti Energy, will have an overriding focus on uncovering and assembling undervalued uranium resource properties in Zambia, a region that it says “has turned into a hotbed of uranium exploration because of the resurgent global interest in nuclear power.”Samarium Group is a leader in private and public investments in small and mid cap companies and as such will help raise the investment capital required to sustain the uranium exploration activities conducted by Kinti Mining. Preliminary budget estimates for exploration activities are approaching $30 million.Kinti Energy is preparing a three year operational plan and budget to acquire and explore African properties with indicated uranium mineral resources. Zambia has enacted new mining legislation that has resulted in a historic opportunity for mineral exploration and mining companies to acquire tenements with significant mineral resources. Kinti and its partners have submitted several applications to the Zambian Ministry of Mines for such uranium tenements. It expects to develop at least two of its exploration projects to the bank feasibility stage after proving reserves of up to 40 Mlb of recoverable uranium with a potential valuation of $2.1 billion, at the uranium spot price for January 5, 2009.Kinti Mining describes itself as “a mineral exploration company with an overriding focus on uncovering and assembling undervalued resource properties or companies. With such inventories it expects to build stakeholder wealth through the public markets, along with being able to offer, other public companies, properties on a wholesale basis in exchange for a combination of company stock and/or cash.last_img read more