Uranium industry growthUranium is used for the generation of nuclear power, which currently provides around 16% of world electricity. With increasing concerns over the greenhouse gas emissions from fossil fuels, nuclear power is being seen as part of the answer to the challenge of global warming.
As of May 2008 there were 439 commercial nuclear power reactors in operation in 38 countries worldwide, with another 36 under construction, 93 planned and 218 proposed, according to the World Nuclear Association. Energy-hungry China and India have the highest number of reactors currently under construction.
In Australia, the Switkowski report has highlighted the potential for a domestic nuclear power industry, while the political barriers to the industry's development are rapidly being lowered.
Management expertiseManagement expertise is crucial to the development of Marathon's projects and the company is fortunate to have an experienced and highly regarded board of directors and senior management.
The board comprises the following team of experienced and diverse directors:
Chairman Peter Williams is a chartered accountant with extensive professional and commercial experience, including that of managing director and chairman of public companies.
Mr Williams was a partner of Deloitte for 17 years and partner in charge of the South Australian practice from 1987 to 1991, before joining the Lloyd Helicopter group as managing director. He has since been involved in venture capital and other companies and has been chairman of Marathon since its earlier days.
Director Chen Zeng has 17 years business experience and has been managing director since 2002 of the Australian operations of the CITIC Group, one of China's largest state-owned enterprises.
Executive Director Denis Wood is currently a director of Queensland Coke and Energy and was responsible for the successful development of the Coppabella Coal Project in Queensland.
The Honourable Chris Schacht is one of Australia's most highly respected political minds with vast international Government experience, having served in the Senate of Federal Parliament for 15 years until 2002 and as a Minister from 1993 to 1996.
Non-Executive Director Dr John Linley is a geologist by training with extensive corporate and resources industry expertise. Past posts include chief executive of Sun Metals Corporation, where he led the development of an efficient and environmentally sensitive zinc refinery on the edge of the Great Barrier Reef at Townsville, Queensland.
Dr Linley has also served as vice president of TexasGulf Australia and was involved in the Olympic Dam project while at Fluor Engineers and Constructions.
Established resourceMarathon Resource's Mt Gee project in South Australia is one of Australia's largest undeveloped uranium deposits.
Mt Gee has an indicated and inferred resource of 46.1 million tonnes averaging 651ppm U3O8 (cut-off grade 300 parts per million), yielding 30,030 tonnes of contained U3O8. This grade is similar to nearby Olympic Dam, Australia's largest uranium deposit.
As well as Mt Gee, Marathon has a portfolio of highly prospective copper-gold-uranium properties in South Australia's Gawler Craton, on top of other gold and copper-gold projects in the State and western Victoria.
Growth prospectsMarathon Resources's growth prospects are strong, due to the continuing growth in demand for uranium to supply the global nuclear power industry.
The company has a portfolio of projects in South Australia and Victoria encompassing copper-gold-uranium, gold and copper-gold, on top of the exciting Mt Gee uranium project.
A joint venture with UraniumSA Ltd in the Gawler Craton is set to provide further benefits to shareholders in coming years, while Marathon is hopeful of the discovery of a significant gold zone on the Moysten Fault Zone in Victoria.
In addition, a joint venture with Primary Resources Ltd announced in April 2007 will extend Marathon's uranium and polymetallic exploration activities in Western Australia.
But with Mt Gee located in a state with a favourable regulatory environment for the uranium industry, Marathon is confident of developing this key asset to the benefit of all stakeholders.
