Uranium explorer searches for nuclear interest

Uranium explorer Energia Minerals (Energia) is looking to capitalise on the growing demand for nuclear energy as a key component of alternative energy.

Energia launched an initial public offering during November and December 2009.

“The increasingly significant role nuclear energy will play as an alternative power generating source in the effort to reduce global carbon emissions is well understood,” Energia managing director, Keren Paterson said.

Approximately 15 per cent of the world’s electricity is provided by nuclear power and this trend is forecast to increase significantly with more than 52 new nuclear reactors currently under construction worldwide, according to Energia.

With access to 20 granted tenements and 10 applications for tenements in Australia and Europe covering more than 5500 sq km, Energia is looking to capitalise on this trend.

Energia’s IPO will raise between $5 and $7.5 million. If the maximum subscription is raised, this will give the company a market capitalisation of approximately $13.9 million at the issue price.