News: Cauldron Energy non-executive director steps down

Cauldron Energy (ASX:CXU) non-executive director Dr Amy Wang has stepped down from her position with effect from 1 October 2014.

The company had recently increased the uranium resource at its Bennet Well deposit in Western Australia by 18% to 18.6 million pounds of contained uranium with 29% of this classified as Indicated.

It plans to drill in excess of 100 holes to define in situ leach characteristics at Bennet Well with the target of leach trials in 2015.

Bennet Well is part of the Yanrey – Bennet Well Project, which has recently been attracting significant funding from China investors.

This included $4 million in July through a placement to Chinese investor Starry World Investment Ltd, which followed on from the $11 million in funding from other Chinese investors that it had closed the month prior.

Previous metallurgical studies completed on core show uranium recoveries of 94%-96%, which places the project squarely on the project development pathway.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.