Atomic Minerals to option 2,800 sq km uranium property


Atomic signs letter of intent to acquire over 2800 square kilometers of uranium property in Tanzania.

Atomic Minerals Ltd. has signed a letter of intent with Geo Can Resources Company Ltd. (Geo Can) to enter into an option agreement to earn the right to acquire up to a 90% interest in a land package totalling approximately 2,800 square kilometres located in the United Republic of Tanzania. Atomic paid Geo Can a non-refundable deposit of $65,000 on execution of the LOI.

The two companies have agreed to negotiate a definitive option agreement by September 14, 2007, subject to the results of Atomic's due diligence on the property (including the preparation of a title opinion) and TSX Venture Exchange approval. The property is located in southwestern Tanzania and is considered to be part of the Malawi extension based on the location of the property relative to blocks earmarked as potentially favourable for uranium enrichment.

Historical airborne radiometric surveys over Tanzania (done by GeoSurvey International) have provided useful data regarding the area. Other mining companies exploring in the area include Paladin Resources (Malawi), Denison Mines and Western Metals (both in Tanzania). The company intends to incorporate a Tanzanian subsidiary to hold Atomic's interest in the property and through which to administer day-to-day operations in the country. Atomic will co-ordinate its geological staff for the property through Geo Can and rely on Geo Can's past expertise in working in the area and in the country. (

Hungary Needs Locally-produced Sustainable Energy Green Energy

Hungary Needs Locally-produced Sustainable Energy

Hungary Condemns Iranian Attack on Israel Int’l Relations

Hungary Condemns Iranian Attack on Israel

Construction Output Volume Rises in February Construction

Construction Output Volume Rises in February

Chresten Bruun Wins Expat CEO of the Year Award Awards

Chresten Bruun Wins Expat CEO of the Year Award


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.