e previous two uranium booms, were snapped up. From Wyoming’s Powder River Basin, where most of America’s uranium and coal is produced, to the Great Divide Basin, which has seen uranium mining, any serious players, who wanted to quickly establish an in situ leach (ISL) mining operation in Wyoming, marked their territory.

“Most of the activity we’ve seen in leasing has been speculative activity,” explained Boomgaarden

From the first discovery of uranium in Wyoming by J.D. Love in 1951 until the mid 1980s, Wyoming was once among the world's top uranium producers. Since then, a combination of a global depression in uranium producers and the emergence of other low cost producing areas, notably Canada's Athabasca Basin, Central Asia's Kazakhstan, and Africa's Namibia, dropped Wyoming to one of the lower ranking uranium producers. But, over the past five years, the spot price of uranium has reversed its decline and stagnation. Now, Wyoming is again in the spotlight as a significant uranium producer. A visit to Wyoming's land office confirmed interest in Wyoming's uranium has skyrocketed.

“Staking activity is up significantly,” said Lynne Boomgaarden, Wyoming’s Director for the Office of State Lands and Investments, referring to the number of claims filed for uranium development in her state. “We have really seen a significant increase since about June 2004. We took one lease application to the board in April 2004. In June 2004, we had 30 or so applications. That’s when we really saw the increase.” In June 2004, David Miller of Strathmore Minerals quickly filed 10 minerals claims for uranium. On his heels, William Sheriff began filing claims as well. Since then, pages and pages of claims covering tens of thousands of acreage have been filed by Miller, Sheriff, their associates and their respective companies.

Subsequently, others jumped into the rush for Wyoming’s state uranium claims. From Crook, Campbell and Converse counties to Carbon, Sweetwater and Fremont, most of the available state trust lands, where uranium rollfront deposits had been previously identified by drilling during the previous two uranium booms, were snapped up. From Wyoming’s Powder River Basin, where most of America’s uranium and coal is produced, to the Great Divide Basin, which has seen uranium mining, any serious players, who wanted to quickly establish an in situ leach (ISL) mining operation in Wyoming, marked their territory.

“Most of the activity we’ve seen in leasing has been speculative activity,” explained Boomgaarden.

the past five years, the spot price of uranium has reversed its decline and stagnation. Now, Wyoming is again in the spotlight as a significant uranium producer. A visit to Wyoming's land office confirmed interest in Wyoming's uranium has skyrocketed.

“Staking activity is up significantly,” said Lynne Boomgaarden, Wyoming’s Director for the Office of State Lands and Investments, referring to the number of claims filed for uranium development in her state. “We have really seen a significant increase since about June 2004. We took one lease application to the board in April 2004. In June 2004, we had 30 or so applications. That’s when we really saw the increase.” In June 2004, David Miller of Strathmore Minerals quickly filed 10 minerals claims for uranium. On his heels, William Sheriff began filing claims as well. Since then, pages and pages of claims covering tens of thousands of acreage have been filed by Miller, Sheriff, their associates and their respective companies.

Subsequently, others jumped into the rush for Wyoming’s state uranium claims. From Crook, Campbell and Converse counties to Carbon, Sweetwater and Fremont, most of the available state trust lands, where uranium rollfront deposits had been previously identified by drilling during the previous two uranium booms, were snapped up. From Wyoming’s Powder River Basin, where most of America’s uranium and coal is produced, to the Great Divide Basin, which has seen uranium mining, any serious players, who wanted to quickly establish an in situ leach (ISL) mining operation in Wyoming, marked their territory.

“Most of the activity we’ve seen in leasing has been speculative activity,” explained Boomgaarden

d for uranium development in her state. “We have really seen a significant increase since about June 2004. We took one lease application to the board in April 2004. In June 2004, we had 30 or so applications. That’s when we really saw the increase.” In June 2004, David Miller of Strathmore Minerals quickly filed 10 minerals claims for uranium. On his heels, William Sheriff began filing claims as well. Since then, pages and pages of claims covering tens of thousands of acreage have been filed by Miller, Sheriff, their associates and their respective companies.

Subsequently, others jumped into the rush for Wyoming’s state uranium claims. From Crook, Campbell and Converse counties to Carbon, Sweetwater and Fremont, most of the available state trust lands, where uranium rollfront deposits had been previously identified by drilling during the previous two uranium booms, were snapped up. From Wyoming’s Powder River Basin, where most of America’s uranium and coal is produced, to the Great Divide Basin, which has seen uranium mining, any serious players, who wanted to quickly establish an in situ leach (ISL) mining operation in Wyoming, marked their territory.

“Most of the activity we’ve seen in leasing has been speculative activity,” explained Boomgaarden

pages of claims covering tens of thousands of acreage have been filed by Miller, Sheriff, their associates and their respective companies.

Subsequently, others jumped into the rush for Wyoming’s state uranium claims. From Crook, Campbell and Converse counties to Carbon, Sweetwater and Fremont, most of the available state trust lands, where uranium rollfront deposits had been previously identified by drilling during the previous two uranium booms, were snapped up. From Wyoming’s Powder River Basin, where most of America’s uranium and coal is produced, to the Great Divide Basin, which has seen uranium mining, any serious players, who wanted to quickly establish an in situ leach (ISL) mining operation in Wyoming, marked their territory.

“Most of the activity we’ve seen in leasing has been speculative activity,” explained Boomgaarden

e previous two uranium booms, were snapped up. From Wyoming’s Powder River Basin, where most of America’s uranium and coal is produced, to the Great Divide Basin, which has seen uranium mining, any serious players, who wanted to quickly establish an in situ leach (ISL) mining operation in Wyoming, marked their territory.

“Most of the activity we’ve seen in leasing has been speculative activity,” explained Boomgaarden. “We don’t have new mines and new operations right now.” She added, “When I first came here in the spring of 2003, there was nothing.” A few changes have taken place, which Boomgaarden and many others have noticed. Through the first half of 2003, spot uranium prices stagnated around the $11/pound level. On March 3rd, spot uranium traded at $39.25/pound, according to TradeTech LLC, which keeps track of weekly and monthly spot uranium sales.

Holding costs on Wyoming’s state trust lands are affordable to speculators, when the underlying commodity in question has had a 500 percent increase in the past 62 months. Applicants file a lease application and pay an annual lease fee of $1/acre for each of the first five years of the lease. The application is presented to the Wyoming Board of Land Commissioners, which meets every other month. “Our royalty revenues from uranium have been pretty flat,” said Boomgaarden. “We can only hope as fiduciaries that we will enjoy operations on these leases that result in royalty returns.” And it appears her wish may soon be granted.

The key reason is that ISL mining is amenable in Wyoming's sandstone geological formations. ISL, or solution mining, is said to be environmentally friendly, relatively easy and fast to put into operations, and economic at the current high price. Wyoming is the home to ISL mining, but current uranium production from this method is paltry compared to other global hot spots, such as Australia or Kazakhstan. About 16 percent of the world's uranium mining comes about from the ISL method. Carbonated water, similar to club soda or perrier, is pumped into the ground to loosen up the uranium from the sandstones and then