Pinnacle Digest: Pinnacle Preview: Aldershot Resources Ltd.
11/14/2006 03:43
Ticker Symbol: V.ALZ
Category: Business, Canada, Finance, Public Companies, Wall Street
Product: Business, Finance, Pubco Select
Nov 14, 2006 (M2 PRESSWIRE via COMTEX) --
Aldershot Resources Ltd (TSX-V: ALZ) is a Canadian based mining company whose primary focus is uranium in the regions of Quebec, Australia, and Zambia. Some of these projects include; Yuinmery, Turee Creek, and Northern Territory. Shareholders were elated to see their company value rise 5.56% Monday with 43,000 shares exchanging hands before the sound of the closing bell. Altershot recently announced that they have completed exploring the Kert property in Quebec. To find out why our client base continues to grow, come explore www.pinnacledigest.com.
Located about 480km northeast of Perth, is the Yuinmery uranium project. This project is defined by Exploration Licence E57/593 and is found within the Yilgarn Province of Western Australia. Granted on 14 October 2005, this license is 100% owned by Aldershot and covers 99km 2.
During 2006, after compilation of the historical data, Aldershot Resources Ltd. planned to undertake an airborne radiometric-magnetic survey and drill test the known mineralization to confirm the historical results and look for extensions. To date the data has been compiled, an airborne survey designed and put out for tender. Drill testing is subject to obtaining clearances as the area is marked as a sacred site. Clearances must be undertaken and permission granted before any drilling can commence. The traditional owners are currently being contacted to arrange site visits.
In sector news, uranium continues to be a hot commodity as hedge funds are increasingly adding this resource to their investment portfolios. The steady move towards nuclear energy has been occurring since 2001 when the spot price for uranium was under $10. "We're in a historic uranium shortage," said James Passin, who manages $580 million at New York-based Firebird Management and began buying shares of uranium producers five years ago. "We're in a global nuclear revival." The questions that need answers are: why is supply so dry? And where is this increasing demand coming from?
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