NEW YORK, Oct. 9, 2007 (PRIME NEWSWIRE) -- William Wilson, president and chief operating officer of New Horizon Uranium (TSX-V:NHU), has joined a growing list of executives from up-and-coming uranium companies (including East Asia Minerals (TSX-V:EAS) and Simmer & Jack Mines (Johannesburg:SIM) (Other OTC:SJACF) who've recently given Wall Street Reporter Magazine an inside look at their companies' acquisitions and strong financial alliances.
"We've been very selective in picking our properties that we can move ahead as quickly as possible," Mr. Wilson tells WSR in the exclusive interview, available in streaming audio or for download in MP3 format at wallstreetreporter.com. "We concentrate on acquiring good properties and getting money in the ground, and I think that's going to separate us from a lot of our peer companies."
Hot topics in Mr. Wilson's comments include:
- The start of a 30-hole drilling program on the company's Summit project in Colorado.
- "Very encouraging" early results from recently completed drilling on the Converse Sand Creek play in Wyoming and the prospect of follow-up work later this year.
- How expert management is reviewing further acquisition opportunities elsewhere in "elephant country" and beyond.
- How strong financial alliances with Haywood, International Royalty and Raymond James fuel the company's aggressive agenda.
As far as East Asia Minerals is concerned, President/CEO Michael Hawkins recently gave Wall Street Reporter a look at the hot uranium M&A environment from the seller's point of view - his company recently sold five Mongolian projects to AREVA with a lofty turnaround of $83 million, while keeping the properties that, in his opinion, offer the lowest risk and highest potential upside.
And when it comes to translating pounds in the ground into cash flow, Simmer & Jack is on the edge of producing uranium "sooner than anticipated," says CEO Gordon Trevlyn Miller. Here too, the secret is project selection: As majority owner of First Uranium Corp. (TSX: FIU), the company has a significant interest in an existing underground mine and a working tailings processing plant.
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About New Horizon Uranium
New Horizon Uranium Corp. is a uranium exploration and development company founded in October of 2005. The company's property portfolio presently approaches 20,000 acres. They are currently involved in several promising North American projects.
About East Asia Minerals
East Asia Minerals Corp. is a Canadian mineral exploration company focused on uranium. Recently, the company has sold 5 of its projects to AREVA in order to focus on holdings with less technical and exploration risks.
About Simmer & Jack Mines
Simmer & Jack Mines Ltd. is a South African metals company with significant gold and uranium assets. The company holds a significant stake in First Uranium Corp.