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Article Check - Part Two: To Invest in Sweden's Uranium Exploration or Not
When bipolar disorder hits at work, it all hits the fan. A public display of excess emotion or over-the-top behavior is usually seen as unacceptable. There goes your reputation as a good worker, several fair-weather friends, perhaps pay for the time you’re off work. And then when you’re ready to return, the boss sacks you. You have lost a job, and you might lose an entire career if word gets around your industry quickly.If this has happened to you, you are certainly not alone! People with bipolar disorder learn to be resourceful and there are many strategies you can use to choose another job or career and keep it safe from another unexpected episode.How to find a bipolar-proof job• What am I good at? What do I like doing? Some people make a career out of an interest. Jot down some ideas.• What ideas do others have? You could ask a mentor, a senior relative, a former supervisor who treated your illness fairly. Take their ideas and put them in the mix—your decision will be based on lots of ideas, not just one piece of advice.• Will my new plans allow me to make enough money? How much is enough?• How many hours a week can I manage? Th
We talked about the other uranium properties, some of the better of which could have as much as 30 million pounds of uranium oxide. “The better project, from a short-term perspective is Klappibacken,” Hudson noted. Historical estimated were compiled by the Swedish Geological Survey (SGU) in 1984, when the property was last explored. Thirty-two drill holes were completed in an area about
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On July 11th, one Canadian-traded uranium development company announced its NI 43-101 resource for three of its uranium properties in Sweden. We spoke with Michael Hudson, Chief Executive of Mawson Resources (TSX: MAW; Frankfurt: MRY), about the company’s prospects. First, he explained that Sweden hasn’t had any uranium drilling since about 1984 or 1985. “It’s the only part of the nuclear cycle the Swedes are missing out on,” Hudson told us. He hopes to bring uranium mining back to Sweden.
Mawson has focused its exploration/development efforts in the northerly provinces. “Those are mining districts,” said Hudson. “People are comfortable with mining in that part of the world.” In the past three years, three new mines have been opened. Despite the latitude, Hudson explained, “Mines up there are running all year around.” On that basis, Hudson began negotiating for uranium properties in late 2003, before the uranium bull market had gained traction. He began acquiring properties, previously drilled by the Swedish government at a cost of $46 million in 1970s dollars.
The company plans further exploration on three of its eight uranium properties. Upon announcing that the National Instrument 43-101 confirmed the company’s uranium resources in Sweden, the same announcement confirmed the magnitude of the exploration target on its largest property, Tasjo. According to the company’s website, “83 drill holes have been drilled… over an area of approximately 10 kilometres by 20 kilometres.” It’s a vast target, between seven and ten kilometers, to explore. Hudson said, “We’re going to put a few thousand meters into that in September or October.” The company plans to spend about C$2 million of its C$9 million further exploring its properties over the next 12 to 18 months.
Previous government exploration at Tasjo wasn’t as structured as many of today’s mining companies would like. “A lot of it (the tonnage) hasn’t been counted,” Hudson told us. “We went through the data in cardboard boxes. The data hadn’t been out of the boxes since the mid 1970s, and the last drilling was done in the 1980s.” Hudson said his team plans to set up a grid and methodically drill it out, as opposed to how it was drilled before. The prize could be enormous as some historical estimates ran as high as 116 million pounds of U3O8 at Tasjo. But, those figures require modern exploration for regulatory compliant verification. Hudson emphasized, “Because of how the work was done, we’re not happy to quote those resources.”
While the drilling may have been less methodical, Hudson praises the Swedes for their storage capabilities, “The Swedes claim they’ve got the largest core yard in the world.” For the past seven years, Hudson rented a house in Sweden in the same town where the core shack is located. “This is all professionally stored in huge warehouses, all recorded and registered,” he explained. “At your request, they will pull out the core with forklifts.” According to Hudson, the data is all there, about 98 percent (or more) of the drill databases, including the assays and surveys. “We’ve got the data, and our people are scanning and inputting the data,” he added.
We talked about the other uranium properties, some of the better of which could have as much as 30 million pounds of uranium oxide. “The better project, from a short-term perspective is Klappibacken,” Hudson noted. Historical estimated were compiled by the Swedish Geological Survey (SGU) in 1984, when the property was last explored. Thirty-two drill holes were completed in an area about
If you are like most people, you have had occasion to notice the ceilings in offices when you have had to spend time waiting for an appointment or you may have worked in one. Notice how the ceiling looks like a grid with (usually) white panels? Those are fire retardant suspended ceilings. And there is money in them.Where is the money, you ask? In cleaning them! Every couple of years, they need cleaning to get rid of the build up of dust and grime that accumulates on them. Someone has to clean them and businesses pay good money to have it done. That is where you come in.With a ladder and/or scaffolding, the right tools and the specialised chemicals to preserve the fire retardant properties of the ceiling, you can make a good profit offering this service to businesses. This is especially true in good-sized office buildings with several companies leasing suites. Arrange to clean the suspended ceilings in one office and leave a business card in other offices, letting them know about the service you offer and that you have cleaned the ceilings on an office in their building.Be sure to emphasise the benefits of having the ceilings cleaned properly. For exa
Mawson has focused its exploration/development efforts in the northerly provinces. “Those are mining districts,” said Hudson. “People are comfortable with mining in that part of the world.” In the past three years, three new mines have been opened. Despite the latitude, Hudson explained, “Mines up there are running all year around.” On that basis, Hudson began negotiating for uranium properties in late 2003, before the uranium bull market had gained traction. He began acquiring properties, previously drilled by the Swedish government at a cost of $46 million in 1970s dollars.
The company plans further exploration on three of its eight uranium properties. Upon announcing that the National Instrument 43-101 confirmed the company’s uranium resources in Sweden, the same announcement confirmed the magnitude of the exploration target on its largest property, Tasjo. According to the company’s website, “83 drill holes have been drilled… over an area of approximately 10 kilometres by 20 kilometres.” It’s a vast target, between seven and ten kilometers, to explore. Hudson said, “We’re going to put a few thousand meters into that in September or October.” The company plans to spend about C$2 million of its C$9 million further exploring its properties over the next 12 to 18 months.
Previous government exploration at Tasjo wasn’t as structured as many of today’s mining companies would like. “A lot of it (the tonnage) hasn’t been counted,” Hudson told us. “We went through the data in cardboard boxes. The data hadn’t been out of the boxes since the mid 1970s, and the last drilling was done in the 1980s.” Hudson said his team plans to set up a grid and methodically drill it out, as opposed to how it was drilled before. The prize could be enormous as some historical estimates ran as high as 116 million pounds of U3O8 at Tasjo. But, those figures require modern exploration for regulatory compliant verification. Hudson emphasized, “Because of how the work was done, we’re not happy to quote those resources.”
While the drilling may have been less methodical, Hudson praises the Swedes for their storage capabilities, “The Swedes claim they’ve got the largest core yard in the world.” For the past seven years, Hudson rented a house in Sweden in the same town where the core shack is located. “This is all professionally stored in huge warehouses, all recorded and registered,” he explained. “At your request, they will pull out the core with forklifts.” According to Hudson, the data is all there, about 98 percent (or more) of the drill databases, including the assays and surveys. “We’ve got the data, and our people are scanning and inputting the data,” he added.
We talked about the other uranium properties, some of the better of which could have as much as 30 million pounds of uranium oxide. “The better project, from a short-term perspective is Klappibacken,” Hudson noted. Historical estimated were compiled by the Swedish Geological Survey (SGU) in 1984, when the property was last explored. Thirty-two drill holes were completed in an area about
It was 2.30 am. It was cold and dark and I'd been in bed for just a half hour when the phone rang."Alarm Centre here, are you the keyholder at Balham Store, in a lively(!) south London suburb. Grumpily, I replied in the affirmative. My wife didn't even stir."The alarm has gone off and will need your attendance - when will you be there?" I told them that it would take me 40 minutes or so. The 45 miles through the empty streets would not take the 90 minutes typical during the morning and evening rush hour.I grudgingly got up and put my clothes on, vaguely aware that I had only been in from the neighbours Christmas party for a short time - and not entirely clear how much I had drunk at all, but it would be close.About 10 minutes into the drive, the car hit a patch of black ice and slid down a 12 foot bank into a field. It was bumpy, but amazingly, nothing was damaged, except for a few scratches. Even I was OK. Indeed, it sobered me up pretty darned quickly. As pure chance would have it, I was in a field where there was a gate about 200 yards away which would get me back onto the road.Quickl
The company plans further exploration on three of its eight uranium properties. Upon announcing that the National Instrument 43-101 confirmed the company’s uranium resources in Sweden, the same announcement confirmed the magnitude of the exploration target on its largest property, Tasjo. According to the company’s website, “83 drill holes have been drilled… over an area of approximately 10 kilometres by 20 kilometres.” It’s a vast target, between seven and ten kilometers, to explore. Hudson said, “We’re going to put a few thousand meters into that in September or October.” The company plans to spend about C$2 million of its C$9 million further exploring its properties over the next 12 to 18 months.
Previous government exploration at Tasjo wasn’t as structured as many of today’s mining companies would like. “A lot of it (the tonnage) hasn’t been counted,” Hudson told us. “We went through the data in cardboard boxes. The data hadn’t been out of the boxes since the mid 1970s, and the last drilling was done in the 1980s.” Hudson said his team plans to set up a grid and methodically drill it out, as opposed to how it was drilled before. The prize could be enormous as some historical estimates ran as high as 116 million pounds of U3O8 at Tasjo. But, those figures require modern exploration for regulatory compliant verification. Hudson emphasized, “Because of how the work was done, we’re not happy to quote those resources.”
While the drilling may have been less methodical, Hudson praises the Swedes for their storage capabilities, “The Swedes claim they’ve got the largest core yard in the world.” For the past seven years, Hudson rented a house in Sweden in the same town where the core shack is located. “This is all professionally stored in huge warehouses, all recorded and registered,” he explained. “At your request, they will pull out the core with forklifts.” According to Hudson, the data is all there, about 98 percent (or more) of the drill databases, including the assays and surveys. “We’ve got the data, and our people are scanning and inputting the data,” he added.
We talked about the other uranium properties, some of the better of which could have as much as 30 million pounds of uranium oxide. “The better project, from a short-term perspective is Klappibacken,” Hudson noted. Historical estimated were compiled by the Swedish Geological Survey (SGU) in 1984, when the property was last explored. Thirty-two drill holes were completed in an area about
If you are a sole-proprietor, you may have wondered about the Owner’s Draw account and how it works. I’ll try to explain it in a way that makes sense to people who use QuickBooks.Owner’s Equity, Owner’s Investment, and Owner’s Draw - DefinedIf you open the Chart of Accounts in QuickBooks, scroll down to the Equity accounts – normally about half way down. You may see one or more of these names: Owner’s Equity, Owner’s Investment, or Owner’s Draw. To make it easier to understand, we’ll say, for now, that the above terms are synonymous. Some accountants reading this may not agree, but I think for anybody who doesn’t understand what they mean, it’s easier to understand them if we use the terms interchangeably.Here’s what I want you to know about the above terms: they all represent the amount of personal money the owner has put into, and taken out of, the business. Notice the emphasis on the word personal - this means money generated outside of the business' activities.Whatever the name, if it has a positive balance, this represents the sum total of personal money you’ve put into the business. If it has a negative balance, this r
While the drilling may have been less methodical, Hudson praises the Swedes for their storage capabilities, “The Swedes claim they’ve got the largest core yard in the world.” For the past seven years, Hudson rented a house in Sweden in the same town where the core shack is located. “This is all professionally stored in huge warehouses, all recorded and registered,” he explained. “At your request, they will pull out the core with forklifts.” According to Hudson, the data is all there, about 98 percent (or more) of the drill databases, including the assays and surveys. “We’ve got the data, and our people are scanning and inputting the data,” he added.
We talked about the other uranium properties, some of the better of which could have as much as 30 million pounds of uranium oxide. “The better project, from a short-term perspective is Klappibacken,” Hudson noted. Historical estimated were compiled by the Swedish Geological Survey (SGU) in 1984, when the property was last explored. Thirty-two drill holes were completed in an area about
Credit cards are wonderful symbols of money power that you can flaunt to buy almost anything under the sun, whether you have the means to afford them or not but when you go overboard and build up a mountain of debts, there is no other way left but to resort to credit card debt reduction to escape bankruptcy. It’s very easy to get attracted by the lure of material things and services for which you don’t have to pay immediately but when you lose control over your spending – the result can only be disaster unless you go in for credit card debt management and start eliminating your debt.How To Start Credit Card Debt ReductionIf you have been frivolous in your spending habits and have built up insurmountable debts, you would be struggling with these debts and the escalating monthly bills that could be increasing by the day. The only ray of hope in such a situation is credit card debt reduction and the first step towards this objective is to look for a credit card debt consolidation program that will consolidate all your debts and leave you with a single consolidated loan to worry about.If you look for a free credit card debt consolidation company, yo
We talked about the other uranium properties, some of the better of which could have as much as 30 million pounds of uranium oxide. “The better project, from a short-term perspective is Klappibacken,” Hudson noted. Historical estimated were compiled by the Swedish Geological Survey (SGU) in 1984, when the property was last explored. Thirty-two drill holes were completed in an area about the size of a football field. The recent Canadian regulatory approved report showed an indicated resource of about two million pounds. This was considered to be a minimum because uranium mineralization was still open laterally and at depth. Hudson was excited about the Klappibacken property, “It’s over $100 per ton in uranium value. It’s wide and thick from surface. We’re trying to get something up to prefeasibility.”
The Duobblon property confirmed previous SGU drilling of fifty-five holes, which was done between 1976 and 1979. The most promising of that drilling may be the central zone, where thirty-five holes were drilled over a strike length of one kilometer. Another four kilometers, of what Mawson believes may be the host resource, remains undrilled. This may be a near-surface opportunity, possibly for open pit mining. Uranium mineralization extends from three meters below the surface to at least 300 meters of vertical depth.
We barely discussed the Flistjarn project during our phone conversation, except in passing. This may be an area where Mawson may find an Athabasca-style deposit, based upon how the company interprets the vein and unconformity-related mineralization hosted by a block of Paleozoic sediments thrust over Precambrian volcanoes. First explored by the SGU in 1977 as a way to determine if Sweden could be uranium-independent, it was financed by the Swedish Nuclear Fuel Supply Company, SKBF. Mawson released results of grab and channel samples in December 2005.
According to Hudson, some of the samples have run up to 20 percent uranium. “Getting these shipped out of Sweden is a challenge, especially with the high grade ones,” he told us. “We have to wrap them in lots of lead, so a few kilos of rock become 40 kilos of lead-covered boxes.” Nothing has been released on Flistjarn since the values were announced, and the property was not mentioned in the recent NI 43-101 announcement.
Conclusion
Sweden should become an excellent test case for a change in Australia’s Three-Mines policy. Sweden’s September election could officially set back the worldwide anti-nuclear movement and further change attitudes in the European Union. This weekend’s G8 Summit in St. Petersburg may have already spurred emotions for a more favorable climate toward nuclear energy.
Uranium mining, the front end of the nuclear cycle, is sometimes ignored in the greater scheme of the nuclear renaissance. Yet, if a country hopes to become energy independent, it must cultivate its domestic resources. Sweden, again, may become a test case on this point as well. One of the key points, which caught our eye about Mawson Resources, and the primary reason we discussed the company’s prospects at length was its technical team. To be taken seriously, a country’s mining officials want to know the personalities behind the company. As did we.
Unlike many other companies we’ve reviewed, Mawson assembled a proven mining team. At the top is Andrew Browne, who was the Competent Person to sign off on Australia’s Jabiluka uranium project, as well as the team leader for the discovery of the Ranger 68 uranium deposit in Australia’s Northern Territory. He’s not alone on this team who has been credited with an exploration discovery. CEO Michael Hudson discovered the Portia copper-gold project, also having delineated and developed other minerals projects in Australia. Mark Saxon, who will oversee Mawson’s exploration in Sweden, di
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