Exoil And Transoil Uranium Prospect

Press, Volume CVIII, Issue 31728, 11 July 1968, Page 20

Exoil And Transoil Uranium Prospect

(N.Z. Press Assn.—Copyright) SYDNEY, July 10. The drilling consortium. Exoil and Transoil N.L. announced reserves of one million tons of uranium ore averaging about 21b a short ton on a prospect area in South Australia. The consortium said it had found the ore on its Armchair prospect, about 300 miles' north of Adelaide. The northern-and eastern limits of this prospect have not been determined. On the Streitberg Ridge prospect to the north of the Armchair, sample assays are still incomplete. Ore reserves of 500,000 tons averaging . about 1.7 per short ton can be confidently forecast, the companies said. One rig was now engaged in evaluating the Smiler and Greenwood prospects. A second rig, now in the area,

will investigate radioactive anomalies in the vicinity of Mount Painter. B.H.P. Profit (N Z. Press Assn.—Copyright) SYDNEY, July 10. The Broken Hill Proprietary Company, Ltd is due to announce its profit for the year to May 31 this week, and it is likely to be higher, the Australian “Financial Review” predicts. The newspaper says: “The main variable affecting B.H.P.’s profit is its taxation provision, and the company should have gained considerable deductions from its investment in Mount Newman."