Message #1 From:
NewsBot Date: September 27, 2007 05:26:55 AM
Aquentium Announces Agreement for Gold and Uranium Exploration and Mining
North Palm Springs, CA
- (WORLD STOCK WIRE) - September 27, 2007 -- Aquentium, Inc. (OTCBB:
AQNM) announced today that the company has signed a joint venture
agreement with Mootah Energetic Pty. Ltd. for the exploration and
mining of Gold and Uranium in the Country of Botswana.
Under
terms of the agreement, Aquentium, Inc. and Mootah Energetic Pty. Ltd.
have the exclusive rights to prospect for Gold and Uranium for an
initial period of three years. The mining concession was granted by the
Minister of Minerals, Energy, and Water Resources of Botswana and
covers an area that is five hundred seventy two point six square
kilometers (572.6 km2) located in Southern Botswana.
“Gold is
currently trading at over $700 per ounce and Uranium spot prices are
currently trading at $85 a lb which is almost a 10 ten fold increase in
five years. I believe Uranium prices could climb sharply higher as
governments embrace atomic energy despite dwindling supplies to power
their reactors," stated Aquentium President Mark Taggatz.
The
uranium mining resurgence is being triggered by skyrocketing prices
brought on by soaring worldwide demand for uranium for the production
of clean energy. Currently in the United States, 103 nuclear reactors
in 31 states provide clean electrical power to one of every five homes
and businesses.
“There are 442 operational nuclear power
reactors throughout the world, with high demand for uranium fuel.
Additionally, 130-160 new nuclear power reactors are either planned or
under construction,” added Taggatz.
With the world primed for
an impending nuclear renaissance, experts are forecasting that uranium
prices may surge another $90, peaking at $170 or even a staggering $200
per pound. This would be well above even the 1970s inflation-adjusted
high of $120/lb, when atomic energy was last in vogue.
Years
of under-investment in uranium mining caused by moribund prices and the
anti-nuclear lobby has left the world short of uranium to fuel nuclear
reactors. But governments in Europe, United States, Russia and China
and even environmental groups, are currently warming to nuclear power
because it produces significantly less greenhouse gases than
conventional fossil fuels, according to the World Nuclear Association.
The
price spike in mined uranium is attributable to a shrinking supply of
yellowcake as European and Asian countries switch to nuclear reactors
for power generation in the face of rising oil prices and global
warming.
One of the world's most concentrated energy sources,
a single pound of yellowcake, or U308, is equivalent to 31 barrels of
oil or 10 tons of coal. A typical pellet of uranium weighs 7 grams
(0.24 ounces), and can generate as much energy as 3.5 barrels of oil,
17,000 cubic feet of natural gas or 1,780 pounds of coal. This makes it
a clean and efficient source of natural energy.
One of the
primary conventional resources of uranium is yellowcake. This is milled
uranium oxide, known to chemists as U308. When uranium ore is sourced
from the mine, it contains relatively little of the radioactive
element, often no more than one per cent (1%). The yellowcake is put
through several milling processes and eventually turned into fuel rods,
which are utilized in nuclear power plants to produce electricity
without any greenhouse gases.
World demand for uranium will be
185 million pounds in 2013, estimates the Nuclear Energy Institute in
Washington. But supply likely will be significantly lower, at about 130
million pounds.
Aquentium is a
diversified publicly traded company with interests in low income and
emergency housing, mining, food safety, building materials &
construction, recycling, sanitation, and waste water treatment.
URL: http://www.aquentium.com
email: info@aquentium.com
Note:
Certain statements in this news release may contain "forward looking"
information within the meaning of rule 175 under the Securities Act of
1933 and Rule 3b-6 under the Securities Act of 1934 and are subject to
the safe harbor created by those rules. There can be no assurance that
such forward-looking statements will be accurate and actual results and
future events could differ materially from those anticipated in such
statements.
Mark Taggatz Aquentium PO Box 580943 North Palm Springs, CA 92258 USA
Phone: 760-329-4139
Source: Aquentium Note:
The following press release was submitted by: Aquentium, and World
Stock Wire, Inc. is not liable for the contents of this press release.
