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Additional information
Additional Information
Market: ASX / AIM
Sector: General Mining
Epic: FTE
News: Latest news
Web Site: Forte Energy
Other Articles: 23-02-201004-02-201001-02-2010

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Tuesday March 16, 11:29Mercator Gold to sell exclusive Copper Flat option to Canada's THEMAC Resources

The deal will allow the group to retain a substantial interest in the promising Mexican copper-gold-molybdenum-silver project without the associated costs.

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Monday March 15, 11:38Calvin Klein owner buys Tommy Hilfiger for US$3 billion from Apax Partners

The New York listed shirt and neckwear company is paying €1.924 billion in cash and issuing €276 million in PVH common stock (approximately 8.7 million shares) to fund the transaction.

 

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Monday March 15, 08:01China's growth boosting commodity prices

The latest economic figures from China have put pressure on the dollar and boosted a number of high-yielding currencies, including the Australian dollar and the South African rand.

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Forte Energy

Forte Energy

Forte Energy NL is an Australian-based minerals company focused on the exploration, evaluation and development of uranium and energy-related projects worldwide.

The Company changed its name from Murchison United NL on 25 November 2008.

Forte Energy has secured an extensive portfolio of uranium projects in the Republics of Guinea and Mauritania in West Africa, where it is pursuing intensive exploration programs. The Company also holds copper and cobalt interests in Queensland and Western Australia, Australia.

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Wednesday, June 25, 2008

Murchison United seals uranium alliance with Areva in Mauritania

Murchison United, the Sydney and London listed uranium exploration company focused on West Africa, announced that it had entered into a cooperation agreement with French Nuclear giant Areva. The agreement covers Murchison’s interests in Mauritania, which coincidently were previously explored by Areva before it pulled out of the region when uranium prices were much lower.

Areva’s stance on uranium exploration and development has changed dramatically in the past few years, in parallel with the surge in uranium prices and forecasts of a new generation of nuclear power plants earmarked for development across the globe.

For the first time, Areva will also take an equity stake in an AIM listed junior mineral exploration company. Areva has agreed to take a 5% stake in Murchison at A$0.135 cents per share. Murchison will also issue a further 10% of the company in shares to Areva in return for access to its “extensive” database on Mauritania, including data on the Bir En Nar prospect, which Murchison has focused most of its attention on. Areva will also supply personnel, equipment and technical services.

Not surprisingly, the agreement will see exploration at Bir En Nar fast tracked. In 2007 and 2008 Murchison’s own exploration at Bir En Nar highlighted the potential for uranium, after a reverse circulation drill program returned high grade uranium, with 26 of a 38 hole campaign returning radiometric logging in excess of 1000 parts per million equivalent U308.

As part of the agreement, the two companies will form a joint venture if a inferred JORC resource of 60 million pounds of uranium can de delineated within two years.

Shares in Muchison United slipped 20% on profit taking, after the shares ran higher in recent weeks.

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