Big drop in value of uranium companies
Uranium Producers in Takeover Play as Assets Exceed Share Price:U3O8, April 14, 2011 — Uranium companies from Toro Energy Ltd. (TOE) to Mega Uranium Ltd. (MGA) are so depreciated they’re trading at less than their assets would be worth in a fire sale. …..Toro, which is seeking to develop the Wiluna deposit in Western Australia, fell to 0.88 times the value of its assets minus liabilities from 1.09 times during the same span, the data show….
Toro is awaiting regulatory approval for its $278 million Wiluna uranium mine.
‘Big Drop’ “We’ve had a big drop because we’re in the development doldrums and people know we’ll need to raise money for Wiluna’s development in 2012,” Chief Executive Officer Greg Hall said in an interview.
Australian uranium shares down, but ERA worst hit
Uranium miner’s shares slump on forecast loss ABC News (Australian Broadcasting Corporation) By finance reporter Alicia Barry 13 April 11, Shares in uranium miner Energy Resources of Australia have slumped more than 10 per cent after the company flagged a first-half loss.Speaking at ERA’s annual general meeting, its CEO Rob Atkinson said 2010 was an extremely difficult year after heavy rains suspended production at its Ranger mine in the Northern Territory…..
Uranium mining leads the plunge in Australian resources shares
Uranium miners were among the weakest in the S&P/ASX 200, with Paladin down 4.9 per cent to $3.53…..”There’s no reason to be buying risk assets when you’re told the third-biggest economy in the world has a nuclear crisis potentially as big as Chernobyl.
Nuclear danger poisons bourse: Japan crisis wipes month’s worth of share gains The Australian David Rogers * From: Dow Jones Newswires * April 13, 2011 AUSTRALIA’S sharemarket had its biggest one-day fall in a month yesterday, as Japan’s nuclear crisis worsened, commodity prices fell and BHP Billiton shares reversed after Monday’s buyback-led surge…… Continue reading
Energy Resources of Australia facing grim financial report on uranium mining drop
Reports gauge damaging La Nina summer rain’s cost | The Australian, Matt Chambers, April 11, 2011″…..ERA, which reports tomorrow, has the biggest potential to give the market a negative shock, as far as Rio’s results go. UBS is expecting a 55 per cent drop in uranium production from the previous quarter to 525 tonnes….”Reports gauge damaging La Nina summer rain’s cost | The Australian
No finance for impossibly costly nuclear power in Western Australia
why is it that no investor wants to put their own money into building a nuclear power station in Western Australia?….It’s not the environmental movement that is preventing nuclear power becoming available in Western Australia, it is merchant bankers!
The myth of Nuclear Energy for WA, Wangle April 4th, 2011 By Bill Johnston MLA The current situation in Japan has given pause to the calls from some people that nuclear energy will fix Western Australia’s energy problems. However, it will not be long before we see those comments beginning again.
This is accompanied by the implication that it is somehow the environmental movement that is holding back this nuclear energy nirvana. Continue reading
Australia’s trade hit by Japan’s nuclear crisis
“Japan’s nuclear situation and power shortages continue to weigh on international financial markets and may prolong the impact of this crisis on the global economy.”……
Japan disaster to cost Australia $2b, ABC News (Australian Broadcasting Corporation), 4 April 11, “…..Japan is Australia’s second largest trading partner, but its economy has been hit hard by the deadly tsunami and ongoing nuclear crisis… Continue reading
Fukushima, not the NT govt, is killing the uranium industry
The uranium mining industry is out of step with public opinion, and with the realities of the collapsing uranium market.
The Northern Territory is the heart of Australia’s tourist industry. The last thing it needs is to have a dirty, uneconomic market flop of a uranium mine – damaging its natural environment, and killing the tourist industry.
It’s not the Northern Territory govt that is stopping investment in uranium mining – it’s the unfolding Fukushima nuclear disaster. – Christina Macpherson
Uranium mine resistance ‘sends bad message’ ABC The Minerals Council of Australia says the Northern Territory Government’s decision to oppose a mine near Alice Springs will deter the industry from investing……. “It send a very bad message to the industry and paints the NT in a very poor light.”…
Uranium mine resistance ‘sends bad message’ – ABC News (Australian Broadcasting Corporation)
South Australian Premier STILL touting uranium industry
Progress toward Roxby mining expansion welcomed ABC News (Australian Broadcasting Corporation) Mar 31, 2011 Premier Mike Rann says a feasibility study marks a significant step toward expansion of Olympic Dam mining in outback South Australia. Continue reading
BHP Billiton gambles on China’s nuclear boom
BHPB will have to spend something like $30-35 billion on the project and dig up a rather large part of SA.
It will not want to wake-up, so to speak, in eight years or so after it’s spent the money, to find the China boom has evaporated.
BHP Billiton to bank on big boom | Herald Sun, 31 March 11, BHP Billiton is on the brink of a huge, huge bet that the China-driven resources boom will just keep expanding and be joined by the Indian-driven one.It will also make a huge bet that the Japanese nuclear problem will figuratively speaking blow over.
Barry Brook reassures on the future of the nuclear industry
Professor Barry Brook, the director of Climate Science at Australian University of Adelaide’s Environment Institute, said that the crisis will lead international governments to improved measures to protect nuclear plants against extreme natural events, but is unlikely to cut down the use of nuclear power…..”I think overtime people will become more understanding of small risk and big benefits that nuclear brings,”
Japan’s nuclear crisis is mainly public panic, not radiation risk: Australian expert By Vienna MaCANBERRA, March 26 (Xinhua) — Japan’s nuclear crisis was mainly public panic, not radiation risk, an Australian expert told Xinhua, expressing optimism over the future development of international nuclear industry. Continue reading
Australia touted as global centre for uranium industry
in WA last week the state Labor Party announced it would review its anti-nuclear stance, with a report due to be released in June………nuclear power and the uranium industry is not going to be hit as hard as many thought even a fortnight ago.
Uranium watch shows the future is still nuclear, Sydney Morning Herald James KirbyMarch 27, 2011 “..….Australia is a global centre of uranium production. Continue reading
Gladstone “ideal” for Australia’s first nuclear power plant
Chairman backs nuclear power |Gladstone Observer, 26 March 11, NUCLEAR power is a crucial ingredient in Australia’s energy future, says Everald Compton, chairman of the Australian Transport and Energy Corridor.“I am a total believer in the fact this country should have nuclear power,” he said yesterday.Speaking at the Region of Choice Summit in Gladstone, Mr Compton said Australia was well-positioned to establish nuclear power plants.
He said Gladstone could be an ideal region to act as pioneer, although he acknowledged it would take somebody “courageous” to campaign for the move towards nuclear……Chairman backs nuclear power | Gladstone News | Local News in Gladstone | Gladstone Observer
Ziggy’s nuclear plans for Tasmania now thwarted
It all seemed a long way from the heady days of December 2006, when former Telstra head, nuclear physicist and chairman of the Australian Nuclear Science and Technology Organisation, Ziggy Switkowski, produced a report for the Howard government on the prospects and opportunities for nuclear power in Australia.
He concluded 25 nuclear reactors could be built around Australia’s coast….One nuclear power plant was pencilled in for the Tamar River north of Launceston or on the nearby Bass Strait coast, near the undersea Basslink power-cable link to Victoria.
Nuclear not for Tassie The Mercury – The Voice of Tasmania, SUE NEALES March 26, 2011 “……..Prime Minister Julia Gillard ….has firmly told Resources Minister Martin Ferguson, a keen proponent of nuclear energy’s potential for Australia ……that there will be no renewed nuclear power debate any time soon. Continue reading
Fukushima shows success of nuclear – says Ziggy Spinowski
……That the plant remains largely intact is 
extraordinary….there is no report of a nuclear-related fatality nor any case of radiation sickness from exposure to elevated radioactivity……media coverage of this nuclear crisis has taught Australians more about the nuclear fuel cycle,…nuclear power remains the best and only option.
Japan crisis teaches much about value of nuclear Ziggy Switkowski Herald Sun * March 25, 2011 WHY build nuclear power stations in Japan? Because that’s where the people are – 126 million in a habitable area smaller than Victoria. Continue reading
Bleak prospects for Australia’s uranium industry
Ord Minnett senior resources analyst Peter Arden says the negative outlook for the uranium sector may be very prolonged. The disaster had fractured confidence in the resources sector as a whole and this damage would not be repaired quickly, Mr Arden said..Mr Gillham said the movement against developing nuclear power plants in Australia was likely to grow.
Uranium sector negativity likely prolonged, Sydney Morning Herald, Rebecca Le MayMarch 18, 2011 “…….Morningstar senior research analyst Mark Taylor said the near-term outlook for the uranium market was negative Continue reading
1 This month.
PETITION – To: Prime Minister Anthony Albanese and the Australian Labor Government
Chernobyl: The Lost Tapes – A good documentary on Chernobyl on SBS available On Demand for the next 3 weeks– https://www.sbs.com.au/ondemand/tv-program/chernobyl-the-lost-tapes/235274195556
19 May – Webinar- Webinar: No Nuclear Weapons in Australia
Start: 2026-05-19 18:00:00 UTC Canberra, Melbourne, Sydney (GMT+10:00)
End: 2026-05-19 19:30:00 UTC Canberra, Melbourne, Sydney (GMT+10:00)
20 May – Webinar – The dangerous world of AUKUS, US, military occupation and suppression of dissent
National Webinar, 20th May, 2026, 6.30pm AEST. Confronting laws restricting/suppressing protest speech and action
Speakers: Former Sen. Rex Patrick, Lawyer Nick Hanna ,Arthur Rorris ,Jorgen Doyle, Sen David Shoebbridge,
Facilitator Kelley Tranter.
of the week – Australians for War Powers Reform (AWPR)
To see nuclear-related stories in greater depth and intensity
Antinuclear 