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Kivalliq Energy watches Japan nuclear news Future restart of Japanese nuclear reactors could be 'major catalyst' for uranium price: industry Thandiwe Vela Northern News Services Published Monday, May 21, 2012
The Vancouver-based company's 2012 exploration program at its Angilak property, southwest of Baker Lake, is in full swing, and a recent vote in the Japanese town of Ohi, in favour of restarting the local nuclear reactors, bodes well for the sector, according to investment bank Versant Partners Inc. "We expect the news of a decision to restart Japanese nuclear reactors to be a major catalyst for the uranium spot price and uranium equities," stated Rob Chang in a May 17 Versant report. For the first time since the meltdown at the Fukushima Daiichi nuclear power plant in March 2011, a local government has granted approval for a reactor to resume operations, the report stated, adding as of May 5, all of Japan's 50 nuclear reactors were switched off. Jim Paterson, CEO of Kivalliq Energy was pleased with the development, and called the vote a "baby step." "Generally, what we believe is if the reactors in Japan start getting turned back on, then that will be positively received by the investment community," Paterson said. Last year, Kivalliq Energy conducted one of the largest exploration projects for a uranium junior explorer in the world, Patterson said, with a 2011 program budget of $17 million. The exploration budget has increased again this year, with $20 million proposed for this year's program at Angilak.
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