Each one in plain English, with the numbers worked through for a shareholder.
19 Mar 2015resource reserve update● NeutralMajor
On March 16, 2015 Uranerz filed two Canadian-standard technical reports dated February 28, 2015: an updated preliminary economic assessment for Nichols Ranch and a resource report for Arkose. The Nichols Ranch plan now adds the Jane Dough Unit, built before the Hank Unit, with a pipeline to carry Hank fluids to the existing Nichols Ranch plant. Remaining resources at Nichols Ranch are stated as 7,865,000 pounds measured and indicated (7,194,000 attributable to Uranerz) and 1,184,000 pounds inferred (1,112,000 attributable to Uranerz); about 199,000 pounds were reported extracted in 2014 and the plant is licensed for 2 million pounds a year. The report warns that economic viability is not yet shown, Jane Dough still needs licensing and permitting, Hank needs more drilling, and inferred resources (about 8% of planned production, starting 2021) are speculative. The Arkose report text was truncated, so its figures are not available.
The company furnished to the SEC a technical report on the Reno Creek property in Campbell County, Wyoming, dated October 13, 2010 and filed in Canada on October 14, 2010, with a press release. It was prepared by Douglass Graves of TREC, Inc. The filing text gives no resource figures and does not say how Reno Creek is held. It is not among the Powder River properties listed in earlier filings (inference: possibly newly added, perhaps linked to the 2010 data library purchase).
The company furnished to the SEC a technical report on its North Rolling Pin property in Campbell County, Wyoming, dated June 4, 2010 and filed in Canada on June 7, 2010, with a press release. It was prepared by Douglass Graves of TREC, Inc. The filing text gives no resource figures; they are in the exhibit. North Rolling Pin was already one of the company's Powder River properties.
The company furnished to the SEC an amended and restated technical report on South Doughstick, dated February 25, 2010 and filed in Canada on February 26, 2010. It covers properties held by the Arkose Mining Venture (the company 81%) and was prepared by Douglass Graves of TREC, Inc. The filing text gives no resource figures and does not say what was changed; it follows the October 2009 amendment over the Section 29 title issue (inference: this may be a further revision of that report).
The company furnished to the SEC a technical report on its Doughstick Project in Campbell County, Wyoming, dated January 26, 2010, prepared by Douglass Graves of TREC, Inc. and filed in Canada on January 28, 2010. The filing text gives no resource figures; they are in the exhibit. Doughstick was one of the company's existing Powder River properties.
The company filed an amended and restated South Doughstick technical report (amended October 12, 2009) after finding that the Arkose Mining Venture owns only 50% of the minerals on the west half of Section 29, not 100% as reported. This cuts the resources for that section by 50%, about 18% of the total project resources reported in the August 11, 2009 report. This corrects and reduces the figures in that August report.
The company furnished to the SEC a technical report on the South Doughstick property, held by the Arkose Mining Venture (the company 81%, United Nuclear 19%; the filing writes 'Uranium Nuclear LLC'). The report is dated August 11, 2009, was prepared by TREC, Inc., and was filed in Canada on August 14, 2009. The filing text gives no resource figures. South Doughstick was a drilling target in the Arkose venture in September 2008.
The company furnished a press release dated July 9, 2009 giving the status of its 2009 drilling program on its Powder River Basin projects in Wyoming. The filing text itself gives no hole counts, footage or results; those are only in the press release. This continues the drilling updates from 2008.
The company furnished to the SEC an updated technical report on its Nichols Ranch property in Johnson and Campbell Counties, Wyoming, dated June 5, 2009 and filed in Canada on June 8, 2009. It was prepared in-house by the Senior Vice-President of Exploration, Kurtis J. Brown. The filing text gives no resource figures; they are in the exhibit. It follows the 2007 reports and the July 2008 Preliminary Assessment on the same property.
The company furnished to the SEC a technical report on the West North Butte Satellite Properties in Campbell County, Wyoming, dated December 9, 2008 and filed in Canada on December 18, 2008, prepared by TREC, Inc. and Woody Enterprises. The filing text gives no resource figures; they are in the exhibit. West North Butte was already among the company's Powder River properties.
The company reported that from July 1 to October 31, 2008 it drilled 498 holes (about 344,525 feet) using five rigs: 165 holes on its 100%-held properties (east North Butte, Willow Creek, Hank, North Rolling Pin, Doughstick) and 333 on the Arkose venture (Little Butte, then South Doughstick in September and Cedar Canyon in October). For 2008 so far it has drilled 764 holes, 531,450 feet in total. This continues the July update (186,925 feet to June 30) and compares with the roughly 800,000-foot 2008 target; the filing does not say whether that target will be met. Best-hole results are only in the press release.
The company furnished to the SEC a Preliminary Assessment of its Nichols Ranch uranium project in Wyoming's Powder River Basin, dated July 25, 2008 (the exhibit list says July 28) and filed in Canada on August 8, 2008, prepared by TREC, Inc. engineers. The filing text gives no resource figures or economics; those are in the exhibits. Nichols Ranch is one of the Powder River properties the company already held, and this builds on the earlier 2007 technical reports.
The company reported that from March 6 to June 30, 2008 it drilled 266 exploration and delineation holes (about 186,925 feet) on the Arkose property in four target areas: East Buck, South Collins Draw, Sand Rock and Little Butte. Drilling started slowly because of unusually wet weather in May and June, so the company now expects about 800,000 feet for 2008 instead of the roughly 900,000 feet announced earlier. The specific results are in the press release, not the filing text. This is the first drilling update on the Arkose venture and a reduction from the earlier target.
The company furnished to the SEC an independent technical report on its Hank Unit property in Campbell County, Wyoming, dated May 1, 2008, filed in Canada under Toronto Stock Exchange rules. The filing text gives no resource figures; they are in the exhibit. Hank is one of the Powder River Basin properties the company already held.
The company furnished to the SEC an independent technical report on the Arkose Mining Venture project, Campbell and Johnson Counties, Wyoming, dated February 27, 2008, filed in Canada under Toronto Stock Exchange rules. The filing text says the report estimates potential mineral resources as targets for further exploration and states that the company has no reserves as defined by SEC rules; it gives no figures. This is the first technical report on the NAMMCO-based venture closed in January.
The company furnished to the SEC an updated Nichols Ranch resource report (dated October 26, 2007), filed in Canada under Toronto Stock Exchange rules, along with a press release giving a drilling and permitting update on its Wyoming properties. The filing text gives no resource numbers or drilling results; those are in the exhibits. This updates the report dated April 3, 2007 that was furnished in September.
The company furnished to the SEC an independent resource report (dated April 3, 2007) on its Nichols Ranch uranium project in Campbell and Johnson Counties, Wyoming, which it had filed in Canada because its shares are listed on the Toronto Stock Exchange. The filing gives no resource figures in its text; the report itself is an exhibit. It carries warnings that the resource categories are Canadian terms, that inferred resources are highly uncertain, and that the company has not shown any SEC-defined reserves. Nichols Ranch is one of the Powder River Basin properties the company already held.
Partner Bluerock told the company it has started drilling on three Mongolian licences (Khavtsal, Tolgod, Khudgiin Us) in the Ulaan Nuur area, increasing planned drilling from 3,000 to 4,000 metres. After Khudgiin Us, the rigs will move to the Central Gobi projects. No results are given. The filing restates that Bluerock can earn 70% and Uranerz can buy back 21% within 120 days of a feasibility study. This is the partner-funded work the 2006 Bluerock deals set up.
