A lot of the money in the bank you are talking about comes from a recent Capital raising of which there are many more to come. And 6m hardly covers the wages and expenses for the CEO and the board for the next couple of years,, much less operations.
I know that Honeymoon is the 4th permitted mine and has been for a long time, and that there is a reason it is not currently in operation. And that is that it will not be profitable.
Even if they could raise enough money to buy equipment (and those mining trucks, Dozers etc are bloody expensive), build the required buildings in a remote locality, build the required roads and infrastructure, put in accommodation and services for a workforce, and get a workforce together and on site, the Activists would come out of the woodwork from everywhere. We had activists blocking city streets last weekend due to the Manus Island refugees who are essentially criminals and tried to illegally enter Australia. Imagine what they will do if we try to start another operating Uranium mine.
I would love to see Honeymoon come into operation,, but IMO its not going to happen.. I would love to see ERA continue to operate and use the Uranium at Jabiluka, which is 1000 fold what is at honeymoon, but its not going to happen.
I wish BOE the best of luck and I hope it finds plenty of gold, because it is not going to be making any money from Uranium in my lifetime at least.
This is Australia and common sense does not seem to play a part in the decision making process..
That being said however, battery power is politically correct not just in Australia but worldwide as well,, and IMO there is good money to be made by this significant shift in the worlds use of minerals used for battery production. It is true that we will need electricity sources to power the batteries and that uranium could provide that but it appears that countries are more and more turning to clean coal technology.. Even Japan which has been primarily Nuclear for decades has just started building clean coal power stations. Taiwan on the other hand is getting rid of its nuclear power stations and putting windmills up in the ocean.. Amazing stuff.. China is also turning towards clean coal even though they currently have many nuclear power stations on the drawing board.
I think that even Australia is talking about putting in some clean coal fired power stations. Although I think that Australia should go completely Nuclear for Electricity I am happier to see clean coal fired power stations than I am to see those bloody windmills.
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