ENERGY METALS LIMITED
ACN 111 306 533
Energy Metals Limited (“EME”) is a dedicated Australian Uranium exploration company with a portfolio of advanced projects located in the Northern Territory and Western Australia.
Energy Metals has eight projects located in the Northern Territory (NT) and Western Australia covering over 4,000 km². Most of the projects contain uranium mineralisation discovered by major companies in the 1970’s, including the advanced Bigrlyi project (NT), which is characterised by relatively high uranium grades (with vanadium credits) and excellent metallurgical recoveries. The Company is listed on the Australian Stock Exchange (ASX Code: EME).
Australia has significant uranium endowment with the continent containing approximately 40% of the world’s known uranium resources. Despite this natural endowment unfavourable politics and a depressed uranium price have resulted in minimal uranium exploration in Australia since the mid 1980’s.
However there have been several positive developments recently including:
- the uranium price increasing from $US10 per pound early 2003 to $US68 currently,
- public opinion (and the political landscape) becoming increasingly supportive of uranium mining, driven in part by the threat of global warming,
- the recently elected ALP government abandoning its opposition to uranium mining, meaning the development of new uramium mines now has bi-partisan support at the federal level, and
- the Northern Territory government confirming its support for new uranium mines in NT.
Energy Metals is in a prime position to take advantage of the favourable outlook for the metal. In addition to advancing the projects currently in the portfolio the Company is also reviewing new uranium opportunities in Australia.
