This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Will Purcell

The critical and specialty minerals stocks box score was a bleak 63-122-125 on Wednesday as the TSX Venture Exchange fell 27 points to 1,005. Garrett Ainsworth's District Metals Corp. (DMX) was among those few bucking the trend, as it added one cent to 82 cents on 711,000 shares.

District has a preliminary economic assessment of its Viken critical raw minerals project in central Sweden. (By critical raw minerals, it means uranium -- still a sensitive subject in Sweden, which repealed a ban on uranium mining at the start of the year.) The dream sheet is based on 456 million tonnes indicated and a whopping 4.33 billion tonnes inferred, grading about 162 parts per million uranium oxide, 2,550 ppm vanadium oxide 240 ppm molybdenum and whiffs of various other base and rare metals.

The plan calls for a 13-year mine that would cost $876-million (U.S.) to get running at 27,400 tonnes per day. Viken would average 3.3 million pounds of uranium oxide per year, along with 16 million pounds of vanadium oxide and other commodities sufficient to support an internal rate of return of nearly 46 per cent after taxes.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS