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Country Overview Australia is a stable multi party democracy with a developed economy. The country is regarded as having negligible sovereign risk and offers a secure and attractive regime for foreign investment. Australia has a long established mining industry that continues to be a major contributor to the overall economy. Consequently the country has for decades been a favoured destination for mineral exploration and development investment. The country was extensively explored for uranium over a period of about 20 years. During that time several world-class uranium deposits were discovered and established Australia as a secure source of natural uranium with about one third of the world's known uranium reserves. Uranium exploration stalled in the early 1980's due to a perception of over supply and a depressed uranium price. Many deposits and uranium occurrences discovered during the period of sustained activity were not evaluated due to the negative outlook for uranium at that time. Uranex's acquisition and exploration strategy in Australia has been to capitalise on the excellent exploration conducted by the earlier uranium explorers. This strategy has resulted in the Company securing a uranium deposit in Western Australia that is already at a stage where resource drilling is scheduled to commence. Additionally the Company has secured a strong exploration position in Australia's premier uranium province, the Pine Creek Inlier. This province hosts outstanding uranium deposits such as Ranger, Jabiluka and Narbalek. Current Projects: |