That's what i was thinking re time frames of drilling, i.e they're buying now knowing how good the results will be based on what they've already found. Fingers crossed anyway. I especially liked the bit about it making us rich and allowing us to retied :)
The directors of VANE have been notified that on 20 June 2012 that Mr Matthew Idiens, a non-executive director of the Company, purchased 1,000,000 of the Company's ordinary shares ("Ordinary Shares") at a price of 0.645p each. Following this transaction, Mr Idiens has a beneficial interest in 16,805,880 shares representing 3.79% of the Company's issued share capital.
In addition, the directors were also notified that on 20 June 2012 that, through his self invested pension plan, Mr David Newton, CEO of the Company, purchased 80,528 of the Company's ordinary shares ("Ordinary Shares") at a price of 0.624p. Following this transaction, Mr Newton, through his self invested pension plan, has a beneficial interest in 808,043 shares representing 0.18% of the Company's issued share capital.
Matthew Idiens, a founder and Director of VANE since it was admitted to trading on AIM in 2004, has resigned from his role as an executive Director at VANE, but has agreed to remain on the Board as a non-executive Director.
Sir Richard Needham, Chairman of VANE, commented:
"Matt has had an enormous and crucial input into the development of VANE in his role as an executive Director and we are delighted that he has agreed to continue to support the Company in a non-executive role. In the past year we have strengthened the Board with the appointment of David Newton, his knowledge of capital markets complementing the geological knowledge and technical skills of Steve Van Nort, Clark Arnold and Kris Hefton."
Leaked Emails Reveal Interior Dept. Ignored Lack of Scientific Evidence to Support Ban on Uranium Development
“These documents show the Administration's practice of placing politics before science. The withdrawal order is an affront to all those in Utah who depend on the jobs created by the Uranium industry in San Juan County, especially the Native American communities that account for more than 50% of the workers at the mill. The Blanding Mill is vitally important to our local economy and relies on receiving uranium from northern Arizona mines to stay in operation. Unemployment in this area is extremely high, especially on the Navajo reservation where it has been over 50%. The ban is not only hindering our nation’s ability to produce domestic uranium, but is also having a negative impact on job creation at a time when we need it most,” said San Juan County, Utah Commissioner Phil Lyman. "To see these National Park Service documents re-enforce the contention we have made from the beginning, namely that the science on the ground shows no adverse impact on the Colorado River drainage outside of or through the Park, is heartening. What is not heartening is that the Administration completely ignored their own scientific advisors and used the Grand Canyon as a political foil. The people I represent in Mohave County want the jobs those uranium mines will bring. The fact that career scientists inside the agencies confirm that mining is safe and does not harm the Park or the watershed will make the people of Mohave county and southern Utah furious," said Mohave County, Arizona Supervisor Buster D. Johnson. http://www.vaneminerals.com/press/paperview/390
Long-term contract uranium prices have increased for the first time since January 2011, according to nuclear consultant UxC. The long-term price climbed 2.5 percent, from $60.00 to $61.50 per pound. A primary reason behind the strengthening long-term price, analysts say, is that the Japanese town of Ohi recently received approval to restart two nuclear reactors.
China's top nuclear power producer, China National Nuclear Power Co., is planning a public listing on the Shanghai Stock Exchange to finance the development of new nuclear power projects. While the expected size of this initial public offering (IPO) is not available, the money raised from the equity listing is to be applied towards funding five nuclear power projects worth $27.3 billion.
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