Curnamona Energy (CUY)

Shares / Stock Code

CUY

Stock Exchange / Sharemarket

Australian Securities Exchange

Curnamona Energy (CUY) is an exploration company primarily searching for uranium in South Australia. Key projects are located in the Lake Frome Region of northeastern South Australia. Curnamona Energy was incorporated in January 2005. It listed on the ASX on 19 April 2005.

In April 2005, Havilah sponsored a capital raising and ASX listing of Curnamona Energy via a 1:8 priority entitlements offer of shares in Curnamona Energy to Havilah Resources shareholders. This issue was heavily oversubscribed and raised $5.6 million. After a subsequent placement of $6 million in April 2007, Havilah retains a 45.4% interest in Curnamona Energy.

Since listing on the ASX, Curnamona Energy has gone about systematically exploring the Havilah tenements, and several tenements that it has acquired in its own right. The target is Tertiary age, sand-hosted uranium deposits that are amenable to low cost in situ recovery extraction methods. The isolation of Curnamona Energy’s exploration areas, and the difficulty of securing drilling contractors early on, prompted the Company to acquire its own drilling and well logging equipment and to develop its own drilling expertise. This has served the Company well, leading to definition of the Oban uranium deposit and announcement of a maiden inferred resource estimate of 2,100 tonnes of eU3O8 at Oban in June 2009.

At the end of 2009, Curnamona Energy maintains an active exploration program on more than 6000 km2 of highly prospective tenements and is commencing feasibility test work on its Oban deposit, including a field recovery trial. The company's projects in the Lake Frome region has strong exploration potential. The uranium industry is expected to grow dramatically in the near future as other energy sources become scarce. The competitiors of CUY for uranium reserves include companies such as Arafura Resources NL (ARU) and Deep Yellow Limited (DYL). There is a strong global market for uranium, as it is an increasingly popular energy source. Its customers include wholesalers and the retail sector.

Curnamona Energy (CUY) Products and Services

  • Uranium exploration

Curnamona Energy (CUY) Locations and Subsidiaries

Curnamona Energy Head Office
63 Conyngham Street,
GLENSIDE, SA 5065
Phone: (08) 8338 9292
Fax: (08) 8338 9293

Curnamona Energy (CUY) Share Price

Submitted by ASX Listed Company on 14 March, 2010 - 07:36

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