In short: His own company, created last year: five concessions within easy drive of Swakopmund in the "main fairway," some adjacent to Rössing, Husab and Paladin's Langer Heinrich. Early movers in Namibia "are going to be well rewarded"; open ground will be gone "six months from now."
This is Beck's own new private exploration company, so treat the pitch as his book. The idea repeats his earlier wins: in Namibia, uranium sits near the surface in a band of rock near the coastal town of Swakopmund, where crews can drive to the site each morning, drilling is cheap, and mines are open pits that permit easily. The catch is that the ore is lower grade, which only pays when uranium prices are high — and he thinks they are about to be. Skeleton holds five exploration licences in that band, some next to existing big mines. The payoff for an explorer like this comes from finding enough uranium to be bought by a larger company, as his previous company UraMin was for $2.5 billion; most such explorers never get there.
17:30So it is a thoroughly world-class uranium mineralization district. It's just, for reasons I don't quite understand, but I'm happy to benefit from it, been slightly overlooked. So we created a company called Skeleton Resources last year to go back in. We picked up five concessions all within easy driving distance from Swakup in the main fairway.
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