Atom Energy (AXY)

Shares / Stock Code

AXY

Stock Exchange / Sharemarket

ax

Atom Energy (AXY) is a uranium explorer and producer. AXY was incorporated to acquire and develop a portfolio of Northern Territory uranium exploration projects in Australia. These projects are contained within four exploration licenses three of which are granted and one application. Atom Energy listed on the Australian Stock Exchange on June 26, 2007. All of the Atom Energy's tenements are sited in uranium mineral fields with unconformity related and vein style uranium deposits. The principal projects of the Company include the Cleo’s Uranium Project where drilling in 2007 produced a JORC resource and the Munadgee Creek Uranium Project. The Cleo’s Uranium Project is situated in Pine Creek Geosyncline and hosts the partly evaluated Twin and Dam uranium deposits. The Munadgee Creek Uranium Project near Tennant Creek holds the Munadgee uranium deposit.

Atom took over the private Australian company Mustang Energy Ltd which is acquiring a group of licences in the Utah sector of the Four Corners region of the United States. This region has produced high grade uranium deposits and it is deemed as a key region for the discovery of new uranium deposits. In mid 2008 the company closed its office in Perth and formed its new office in Alice Springs near the bulk of its exploration properties in order to reduce the high cost travel and accommodation issues for the exploration team.