I think reefton could be one of the best uranium plays on the market. I expect more info next week.
Reefton Mining NL

NEW URANIUM DISCOVERY

* Four radiometric anomalies identified covering over 68 square kilometres
in central Namibia, Africa.

* Significant radiometric response from ground truthing of the anomalies.

* Anomalies situated within close proximity to Rio Tinto's Rossing Uranium
Mine and Paladin Resources Ltd's developing Langer Heinrich Uranium Deposit.

The Board of Perth-based Reefton Mining NL is pleased to announce the Company
has discovered a new uranium target at its wholly owned Erongo Polymetallic
Project in central Namibia, Africa.

The Company has commenced radiometric surveying returning significant readings
up to 94,320 counts per minute thereby indicating the presence of uranium
bearing mineralisation.

A total of four radiometric anomalies have been identified to date totaling an
area of 68 square kilometres (km):

A. "Vergenoeg", 12 km x 3 km

B. "Sukses", 5 km x 1.2 km

C. "Hakskeen", 8 km x 2 km

D. "Hoopverloor", 7 km x 1.5 km

The series of radiometric anomalies occur within alluvial basins interpreted to
have developed on palaeochannels similar to the developing Langer Heinrich
uranium deposit owned by Paladin Resources Ltd located to the south of Hakskeen.

The Company is collecting soil samples from the radiometric anomalies and an RC
drilling programme has also commenced at Hakskeen.

The Rossing Mine - owned by Rio Tinto - is the world's fifth largest uranium
producer and is also located to the south of Hakskeen (see location map
attached). It has produced about 70,000 tonnes of uranium since it opened in
1976.

Uranium Market

The uranium price has been rising and has increased 79% since 2003 from a annual
month-end spot price average of US$11.54 /lb to US$21.75 /lb as at Feb-05
(according to The Ux Consulting Company, LLC - monitors the uranium market). The
price has risen due to increased demand for uranium as a fuel for power
generation.

There are numerous nuclear power stations under construction particularly in
China which plans to build 27 plants by 2020, India which plans to build 17
reactors by 2012, and Russia which wants to build 25 plants by 2020 (according
to the Energy Bulletin).

World demand is estimated to outpace supply by 11% in the decade ending in 2013
as inventories decline ("World Nuclear Association").

Uranium Geologist

Reefton also advises that it has engaged the services of Dr Christian Schlag who
is an experienced uranium geologist. He has worked on a number of projects
including the Oranje Free State project with Gold Fields of South Africa.

An ASX announcement containing a map of the area can be found on the ASX website
www.asx.com.au

Does anyone have any opinions on what is instore next for reefton?

Hi
Sounds good to me!
To take the debate further,

From uranium ore to reactor fuel
Uranium ore can be mined by underground or open-cut methods, depending on its depth. After mining, the ore is crushed and ground up. Then it is treated with acid to dissolve the uranium, which is then recovered from solution.

Uranium may also be mined by in situ leaching (ISL), where it is dissolved from the orebody in situ and pumped to the surface.

The end product of the mining and milling stages, or of ISL, is uranium oxide concentrate (U3O8). This is the form in which uranium is sold.

Before it can be used in a reactor for electricity generation, however, it must undergo a series of processes to produce a useable fuel.

For most of the world's reactors, the next step in making a useable fuel is to convert the uranium oxide into a gas, uranium hexafluoride (UF6), which enables it to be enriched. Enrichment increases the proportion of the uranium-235 isotope from its natural level of 0.7% to 3 - 4%. This enables greater technical efficiency in reactor design and operation, particularly in larger reactors, and allows the use of ordinary water as a moderator.

After enrichment, the UF6 gas is converted to uranium dioxide (UO2) which is formed into fuel pellets. These fuel pellets are placed inside thin metal tubes which are assembled in bundles to become the fuel elements for the core of the reactor.

For reactors which use natural uranium as their fuel (and hence which require graphite or heavy water as a moderator) the U3O8 concentrate simply needs to be refined and converted directly to uranium dioxide.

Spent reactor fuel is removed, stored, and then either reprocessed or disposed of underground (see Nuclear Fuel Cycle or Radioactive Waste Management in this series).

the insitu method of mining is always the preferred one - less infrastructure required i think, and also better on the environment.....and with Reeftom coming out and saying that they think they are onto palaeochannels, i think that this type of mining method will be the one used, when they need to mine their 2million tonnes of uranium......whose price will be up at $45/tonne by the time they come to mine and sell their yellowcake.....

21 April 2005
Company Announcements Office
Australian Stock Exchange Limited
Level 4
Exchange Centre
20 Bridge Street
SYDNEY NSW 2000
Dear Sir / Madam
SOIL GEOCHEMISTRY SHOWS URANIUM
ERONGO PROJECT, NAMIBIA
Summary
Target C at Hakskeen is confirmed as a uranium depositing palaeochannel
(fossil river alluvial deposit). The interpreted palaeochannel is defined by
radiometrics with an anomaly of 8 km in length by 2 km in width. Carnotite
(uranium mineral) samples have been recovered from surface and have been
submitted for analysis. Drilling has returned high radiometric readings and
drill samples have been submitted for precious, base, and rare metals and
uranium. The soil samples from the surface of the alluvial system contain
anomalous rare and base metal content indicating a source of that type of
mineralisation upstream.
Another palaeochannel target has been located at Target D with up to
135,300 counts per minute (cpm) at surface compared with a peak of 94,320
cpm at Target C. The Target D anomaly is 7 km in length by 1.5 km in width.
HIGHLIGHTS
Target C
Initial soil geochemical samples collected to date contain
anomalous uranium of up to 40 grams per tonne (g/t).
The samples contain anomalous rare earth metals;
Cerium (to 62 ppm),
Lanthanum (to 28 ppm) and
with low Thorium (to 12 ppm).
Base metal levels are anomalous;
Copper (to 22 ppm),
Lead (to 33 ppm) and
Zinc (to 28 ppm).
1st Floor, 47 Ord Street
West Perth
Western Australia 6005
Email: quadrant@optusnet.com.au
Website: www.reeftonmining.com.au
Tel: (61 8) 9322 7822
Fax: (61 8) 9322 7823
A.C.N. 010 546 675
Erongo Project Namibia
EPLs 2805 2811 (100%)
The Company has received the results of analysis of initial soil geochemical
sampling from the SGS Laboratories in Johannesburg, South Africa. The
samples are located along the ground radiometric lines at the Hakskeen
Target C at the Erongo Project on Central Namibia, Africa.
The soils contained up to 40 g/t uranium proving that the area contains
uranium. The corresponding thorium levels were 12 parts per million (ppm) in
conjunction with anomalous rare earth metals of cerium (to 62 ppm) and
lanthanum (to 28 ppm) indicating a source of these rare metals upstream.
Similarly the base metals (copper, lead and zinc) were also anomalous with
copper up to 22 ppm, lead up to 33 ppm, and zinc up to 28 ppm. Again
further work is required to locate the source of these elevated levels.
Target C is now confirmed as a uranium depositing palaeochannel (fossil river
alluvial deposit). In addition carnotite (uranium mineral) samples have been
recovered from surface and have been submitted for analysis.
The Target C alluvial system also contains anomalous rare and base metal
content indicating a source of that type of mineralisation upstream.
This palaeochannel is defined by a radiometric anomaly with dimensions of 8
kilometres by 2 kilometres. Peak values are up to 94,320 cpm. The anomaly
occurs within an alluvial basin interpreted to contain a palaeochannel similar
to the Langer Heinrich uranium deposit being developed by Paladin Resources
Ltd located to the south of Hakskeen.
Drilling
As per the announcement of 15th April 2005, the Company has completed the
first stage of drilling on Target C totalling 19 holes for 693 metres. The
exploration results returned to date are outlining a palaeochannel system as
per the attached map. The downhole radiometrics of the drill holes revealed
high readings near surface up to 73,000 cpm over a metre width from 1
metre depth (TC3/RC7).
Target D
Target D (Hoopverloor) adjacent to the north of Target C is another potential
palaeochannel with a radiometric anomaly of 7 kilometres by 1.5 kilometres
and peak values of up to 135,300 cpm (44% higher than Target C).
Consequently, Target D has the potential to be more significant than Target C
with respect to uranium bearing deposition.
Target A
Target A (Vergenoeg) to the south of Target C appears to be an anomalous
source of uranium in granite, not a palaeochannel.
Uranium Market
The uranium price is continuing to rise and is currently US$23.20 /lb - weekly
spot price (as at 11/4/05), up from an end-March month-end spot price of
US$22.50 /lb (according to The Ux Consulting Company, LLC). This compares
with the month-end spot price of US$21.75 /lb as at Feb-05.
Yours faithfully
GR HEMMING Enquiries to:
Technical Director Mr Simon Gilbert
Chief Executive Officer
Phone: +61 (0)8 9322 7822
Facsimile: +61 (0)8 9322 7823
This report accurately reflects information compiled by Mr G.R. Hemming, MAusIMM.,MAIG., a Director of
Roscoria Pty Ltd, who has sufficient experience which is relevant to the style of mineralisation and type of
deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as
defined in the 2004 Edition of the Australian Code for Reporting of Exploration Results, Mineral Resources and
Ore Reserve. Mr Hemming consents to the inclusion in the report of the matters based on his information in
the form and context in which it appears.

GLOSSARY
Reverse Circulation Drilling Drilling method that produces rock chips
rather than core. Air is forced through the outer section of a double-walled
drill stem through the annulus and the chips are carried upward to surface
through the inner section and are collected for examination.
Palaeochannel - The remnant deposit of a surface drainage system that was
active in the geological past and may be buried now.
Radiometrics - A measure of the natural radiation in the earth's surface,
which can tell us about the distribution of certain soils and rocks. Geologists
and geophysicists routinely use it as a geological mapping tool to tell them
where certain rock types change. Radiometrics is also known as Gamma-Ray
Spectrometry. A radiometric survey measures the spatial distribution of three
radioactive elements (potassium-K, thorium-Th and uranium-U) in the top 30-
45 cm of the earth's crust. The abundances of K, Th and U are measured by
detecting the gamma-rays produced during the natural radioactive decay of
these elements.
Carnotite A yellow oxide mineral of uranium.
issued through
FIELD PUBLIC RELATIONS PTY LTD ABN 74 008 222 311
231 South Road, MILE END SA 5031
Ph: 08 8234 9555 Fax: 08 8234 9566
admin@fieldpr.com.au
N E W S
R E L E A S E
FOR IMMEDIATE RELEASE
Thursday 21 April, 2005
NEW TESTS CONFIRM URANIUM AND BASE METALS
DEPOSIT IN WEST AFRICA FOR REEFTON
New soil geochemical test results have confirmed Reefton Mining NL has identified
at least two key palaeochannels (fossil river alluvial deposits) containing uranium,
rare earth and base metals at its Erongo project in West Africa.
Reefton (ASX code: RTM) announced today that its C and D targets within the
project area two of four sites that have been tested had been confirmed as
palaeochannels. Soil geochemical samples over the palaeochannel have returned up to
40 grams per tonne uranium.
The Company said Target C is a uranium depositing environment, although the soil
sampling work also indicated the presence of rare earth and base metals.
This is an enhanced outcome to the earlier test work and suggests that the Erongo
project has the potential to host an alluvial-based uranium deposit, Reefton CEO, Mr
Simon Gilbert, said today.
We are at the starting blocks only but the latest results show uranium mineralisation,
with Target D exhibiting the potential to be even more significant than Target C, Mr
Gilbert said.
The results occur at a time the uranium spot price has firmed to around US$23.20 per
pound up from $11.54/lb in 2003, he said.
The Erongo project is located in Central Namibia on Africas western coastline. Mr
Gilbert said Target C was defined by radiometrics with an anomaly of 8 km in length
by 2 km in width, with surface soil samples indicating a source of rare earth and base
metal mineralisation upstream.
The palaeochannel Target D anomaly 7 km in length by 1.5 km wide and running
parallel but to the north of Target C - had radiometrics of up to 135,300 counts per
minute (cpm) at surface compared with a peak of 94,320 cpm at Target C.
MEDIA CONTACT:
Simon Gilbert Reefton Mining (08) 9322 7822
Kevin Skinner Field Public Relations (08) 8234 9555 / 0414 822 631

why did the ceo resign ??

not more bad news on the way, in regards to the tenements fiasco again ??

I started this thread and bailed out a while ago

And I THINK ITS CROOKED !!!!!!!!!!

......a couple of paragraphs from;
www.theaustralian.com.au (business section);
headline = Dusting off old prospects hoping for slice of yellowcake
Robin Bromby April 27, 2005

extract;
" Meanwhile, Namibian uranium hopeful Reefton Mining will be searching for a new chief executive. The incumbent and former Iluka executive Simon Gilbert quit on Friday. This came three weeks after the departure of long-time managing director Vladimir Nikolaenko.
The junior has been facing problems getting its exploration licences renewed in Namibia. Industry observers say Mr Gilbert may have been uncomfortable at a junior explorer after being used to a large mining company. "

can't get much out of the above, but would really like it if they announced another useless soil sample with some uranium in it, so that the price goes up and i get out (and into vane.....)

Reefton Mining N.L.
21 May 2004

REEFTON MINING NL ('REEFTON' OR 'THE COMPANY')
RE;
21 MAY 2004

APPOINTMENT OF CHIEF EXECUTIVE OFFICER

The directors of Reefton Mining NL are pleased to announce the appointment of a
new Chief Executive Officer, Mr Simon Gilbert.

Simon Gilbert is a specialist in the technical, operational and corporate
financing issues of mining companies. He is currently consulting to Iluka
Resources Limited and has performed high-level consultancy to a number of mining
companies over the past five years including Doral Mineral Sands and BHP
Billiton.

etcetcetc........

so this bloke has been with the company for just over half a year, and is moderately reputable.....going from the companies he has worked for.....

so what, why and where is the potential scam ????

progress with licences ,up 24% in oz,could be coming back to life

revise that to 14% at 07:20 our time

Anyone's guess as to which way it goes. They seem to be hanging on it, so it could come down on the side of positive.

it probably will, as they are setting up that General Meeting in June, so that they can get approval for issuing more shares......which may be so that they can drill the crap out of their potential uranium ground.

these guys have tested my patience...am out with a decent loss, but i think that VML will go on and more then make up for it (for me).

RTM put out those super-positive radiometric RNS's and their sp hit a certain target which allowed them to go and issue one of the outgoing Directors (ex-CEO) with a bunch of options (equal to about 4p each or 10 aussie cents ?) that expire on 30June2006.......

and before that, they realised that they had not received the appropriate permits to explore on their tenements....how long were they sitting on that for ?? almost 2 years ??

ok -so a director resigned before and after this.....

don't like this story, and there are in fact a few other Uranium plays around which in fact have proven resources on their tenements......

good luck to these guys !!!
(at least i cut my losses in half by today's rise - sensational !!!!!
Vane Minerals - here I come !!!!!)

- although i may be back.......

High volume reported last night down under, and a cracking start this morning. Bodes well.

Bring on the news !

Trading halt,pending a licence announcement.Let's hope it's positive news regarding the nuclear inclusion.

am glad i got out when i did........but not so glad, i got in when i did.......

rtm ready to move north big time.everyone get in quick,long awaited re-licence and u news on its way.

I`m in already but i don`t share the same confidence as you kedar, i hope your right.
db66

Personally if it were not for the volumes in Australia I would be highly cynical considering all the directors resignations. This all hangs on the Namibia government granting "Nuclear Fuels" licence.

Stocks seek direction
Daily Telegraph, Australia - 2 Jun 2005
... The top traded stock by volume at 1235 AEST was Reefton Mining, with 32.3 million shares worth $2.45 million changing hands. Reefton ...

Reefton announced share issue 50,000,000 at 6 Aus Cents to raise 3 Million Aus Dollars - also these will carry options for a futher 50 million share in 2009