Xemplar Energy Co
Xemplar Energy outlines plan for 2009, investors push shares 30% higher
Uranium exploration and development company, Xemplar Energy (TSX-V:XE) climbed steadily in trading today, rising 30% after investors took notice of a end of year review and 2009 outlook from the company.
Xemplar Energy finds itself in the enviable position of holding a substantial cash pile. The strong balance sheet has afforded the company the ability to continue its aggressive drill campaign in Namibia, where it is hunting for uranium mineralisation not dissimilar from Rio Tinto’s (LSE: RIO) world class Rossing Mine, which currently produces 7% of total uranium output, and is Namibia’s largest operating uranium mine.
In recent years Namibia has become a hot bed of activity for uranium exploration companies, and has already delivered two spectacular success stories, Paladin Resources and Forsys Metals, the latter recently acquired at a substantial premium to the prevailing share price. Xemplar Energy, alongside Extract Resources and Bannerman Resources has also chalked up significant milestones in 2008, and continue to show excellent potential to find another substantial uranium deposit.
Investors were reminded today by Xemplar Energy of how much progress it made in 2008. The company completed some 40,000 metres of drilling at the Warmbad uranium prospect designed to drill test 14 alaskite bodies previously identified from airborne surveys. Drilling defined eight large mineralized bodies, confirmed the presence of two other new areas of interest, confirmed the mineralization at Warmbad is similar to the Rossing Mine and Forsys’s Valencia Deposit, and also confirmed that grades at Aluriesfontein, Big Yellow East, Big Yellow Centre and Big Yellow West are consistent with the grades at Valencia.
Looking ahead to 2009, Xemplar reiterated that it required no additional cash from the markets, and could continue exploring for a further 2 years on its current cash reserves.
The 2009 operational plan includes continued drilling towards an initial resource statement, with particular focus on defining and extending zones of mineralisation at Aluriesfontein, Big Yellow East, Centre and West, Houms River, Girtis, and Gaobis/Energy Ridge.
Other Xemplar Energy Co articles
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28/04/09 Mike Magrum of Xemplar Speaks to Proactiveinvestors
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14/11/08 Xemplar updates on Warmbad uranium project drill results
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22/08/08 Xemplar Energy Corp. – Warmbad is warming up
Other Xemplar Energy Co news
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29/06/09 Xemplar reports further good results from Big Yellow uranium deposit in Namibia
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06/05/09 Xemplar reports further good results from Aluriesfontein uranium deposit in Namibia
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31/03/09 Xemplar Energy pleased with progress of drilling at Warmbad, Namibia
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03/03/09 Xemplar Energy says drilling at Aluriesfontein expands mineralised zones
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19/02/09 Xemplar expands uranium zone at Big Yellow, Namibia
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12/01/09 Xemplar Energy reports assays from nine additional holes
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08/01/09 Xemplar Energy reports assay results from six more drill holes
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16/12/08 Xemplar Energy's Warmbad Project shows continuity
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12/11/08 Xemplar drilling at Warmbad uranium project finds further mineralized zones
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29/10/08 Xemplar Energy Awarded Exclusive Prospecting Licenses For Garub Property
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