Young Nova Scotians are encouraged to get “financially fit” by taking part in an interactive, online contest this February. The contest, sponsored by the Canadian Securities Administrators and co-ordinated locally by the Nova Scotia Securities Commission runs from Monday, Feb. 4 to Friday, Feb. 29. Youth aged 15 to 21 can play games, take a quiz, try interactive simulations, and get financial tips to learn the importance of saving and investing money for the future. Thirteen entries, one from each province and territory, will be randomly selected from eligible quiz participants to win a $750 scholarship. In 2007, nearly 1,400 young people participated and registered to win the contest, which aims to make smart money management cool for an increasingly web-savvy generation. “Young people are often more keen than you would think to learn about saving and investing, especially at an age where they hold their first part-time or summer jobs, and are trying to save for an education,” said Natalie MacLellan, investor education officer with the Nova Scotia Securities Commission. The contest features exciting interactive games such as Slapshot Shopping, where players are given $200 of virtual money to purchase a number of necessities and luxuries. The game uses humour and Canada’s love affair with hockey, to teach the importance of balancing financial needs versus wants. Other games and warm-ups include The Tradeoffs, an overview of different investment types, A Little Goes a Long Way, a compound interest simulator, and Budget Breakaway, a student-focused budget calculator. The quiz features questions and facts about budgeting, saving and investing, in a format directly focused on the experience of students. Teachers are encouraged to use the challenge as a fun and informative learning tool. They can download teachers’ resource materials off the web site and enter a contest for a chance to win gift certificates or a $1,000 grand prize. The financial fitness contest is available online at www.financialfitnesschallenge.ca . The Canadian Securities Administrators is a council of securities regulators that co-ordinate and harmonize regulation for Canadian capital markets. Its mandate is to protect investors from unfair or fraudulent practices through regulation of the securities industry. Part of this protection is educating investors about the risk, responsibilities and rewards of investing. As regulator for the securities industry in Nova Scotia, the Nova Scotia Securities Commission works to protect investors from practices and activities that tend to undermine investor confidence in the fairness and efficiency of capital markets. Part of the Nova Scotia Securities Commission mandate is to improve the financial literacy of youth.
Extract Resources has announced that it has completed its definitive feasibility study (DFS) on the Husab uranium project in Namibia. Extract has defined a base case mine plan and process plant design, including plans for delivery of the infrastructure necessary to support the project. The company states that the DFS has demonstrated the technical and economic viability of developing Husab, the world’s fifth-largest uranium-only deposit.The operation will involve open pit mining by truck and shovel from two separate pits to maintain a sustained rate of 15 Mt/y over the life of mine with an average strip ratio of 7:1 (waste:ore); a waste and plant tailings storage facility (the mine residue facility); ore crushing and overland conveying to a new processing facility employing milling, leaching, ion exchange, solvent extraction and precipitation. The mine will produce approximately 15 Mlb/y of U3O8 equivalent. Capital costs for the Project are estimated at $1,480 million, including the initial mine fleet, process plant and supporting infrastructure. Inclusive of pre-strip and other pre-production operating costs of $179 million, the project cost is estimated at $1,659 million.Extract has engaged with potential customers to assess demand for production from the Husab uranium project, and has identified several possible strategic contracting opportunities. Extract said it is “confident that it will become an attractive supplier to end-users, as a result of the Husab uranium project’s ability to offer geographic diversification and long term security of supply.” read more