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DEVEX RESOURCES LIMITED — Board/Management Information 2010
Jun 22, 2010
64768_rns_2010-06-22_b55baa20-51c0-4730-b566-dedf6eb05496.pdf
Board/Management Information
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23 June 2010
The Company Announcement Officer Australian Securities Exchange Ltd via electronic lodgement
Director Resignation
The Company advises that Mr Tim Clifton has today resigned as a Non-executive Director. Tim has been a Director since Uranium Equities formed in 2006 and was the Chairman until July 2009.
The Board acknowledges and thanks Tim for the substantial and invaluable contribution he has made to Uranium Equities over the last four years and wishes him well in future endeavours.
The Board is pleased that Mr. Clifton remains available to provide consulting services to the Company if requested.
Yours faithfully,
Tony Kiernan Chairman
About Uranium Equities
Uranium Equities Limited (UEQ) has two main areas of focus: The development of the PhosEnergy Process ; and exploration activities directed at a small core of high quality exploration assets which include the key Nabarlek Project.
The PhosEnergy Process is an innovative patented process for the extraction of uranium as a by-product from phosphate in the production of phosphate based fertilisers.
The global annual production potential of uranium from the phosphate industry is in the order of 20 Mlbs U3O8. This quantity of uranium is mined in phosphate ores but not recovered annually on a worldwide basis. The major phosphate based fertiliser producers are located in Northern Africa, North America and Asia.
The PhosEnergy Process has been proven to pilot scale with results establishing a robust process capable of achieving high levels of uranium recovery at the lower end of the cost curve.
The Nabarlek Project provides a rare near mine exploration opportunity surrounding the historic Nabarlek Uranium Deposit (24 Mlbs @ 1.84% U3O8). The deposit lies within an extensive uranium mineral system which extends over more than 50 square kilometres within the Mineral Lease and the surrounding tenements. The mineral system which contains widespread anomalous uranium geochemistry and ore grade mineralisation at several locations remains largely untested.
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