Highlights

• Nuclear power generation helps meet climate goals
• Japan, by restarting reactors, will meet its post 2020 greenhouse gas emission targets while South Korea increases its nuclear new build, and cancels four coal fired power stations, to reduce the country�s greenhouse emissions to 37% below business as usual levels by 2030
• Yellowcake prices remain flat for the last few weeks at around US$36 to $38lb, up from a low of US$28lb in mid 2014
• China, Russia, India, USA, Korea, UEA and Japan forge ahead with their nuclear new builds and reactor restart programs
• Japan�s reactor restarts are imminent with nuclear fuel being loaded into Kyushu Electric Power Company�s Sendai 1 reactor with anticipated start up in August 2015
• Japan is aiming to have 11 nuclear power reactors back online by 2016
• China is commissioning a new 1,000Mw reactor every month with four connected to the grid in 2015 and a further eight to be commissioned by the end of the year
• China will surpass the US as the largest producer of nuclear power and consumer of uranium at 52 million pounds a year by 2025
• South Korea government announces two further nuclear power reactors are to be constructed and plans for four coal fired plants have been dropped. Korea now has 24 nuclear plants operating, 6 under construction and 8 on order or planned
• South Australia�s Royal Commission into nuclear fuel cycle seeks submissions on uranium exploration, mining, fuel conversion, enrichment, fabrication, nuclear power generation and waste management in Australia
• Whilst a record new build of reactors is underway uranium mines needed to feed them are still years away. Uranium prices are languishing at about half the level required to convince mining companies to invest in new production
• Manhattan�s 100% owned Ponton project in WA has reported 17.2Mlb uranium oxide Inferred Resource with additional drilled Exploration Targets reported of 33 to 67Mlbs U₃O₈
• SPOT MARKET URANIUM OXIDE NOW US$36.00 POUND

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Regards,
Manhattan Corporation Limited

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