BRM 5.35 - 5.50p
Brinkley Mining gets provisional license for uranium exploration in Sudan
LONDON (Thomson Financial) - Brinkley Mining Plc. said its Brinkley Mining
Project 4 Ltd. unit has received a provisional prospecting license for the
exclusive exploration of uranium and associated minerals over an area of over
5,000 square kilometres of Budi County in Eastern Equatoria State, Southern
Sudan.
The license, effective until Feb. 21, 2009, is renewable annually
thereafter.
Brinkley said the license is deemed provisional as there is no formal mining
law in Southern Sudan and, accordingly, there can be no certainty that, on
introduction of a formal mining law, the license will be renewed or continue to
be valid.
While Brinkley believes that Southern Sudan presents "potentially
attractive" exploration opportunities, it intends to limit its expenditure until
the mining law is clarified further.
Accordingly, in aggregate, the company has initially budgeted to spend up to
$1 million in the next 12 months on its exploration activities in Southern
Sudan.
Brinkley added that it is seeking both primary and secondary uranium targets
within an area that has received little attention or the application of modern
exploration techniques.