Ron Netolitzky has spent his career turning tough situations into gold. Literally.
His propensity for success in the face of the most daunting conditions became apparent almost immediately after his graduation from the Masters geology program at the University of Calgary in 1967. At that time, the mining industry was mired in one of its cyclical lows, and Ron came out of school to find that companies weren't exactly beating down his door with job offers. Read More
XL: Let's start at the beginning. Can you tell us a bit about your background, education, and why you got into mining?
Ron: Sure. I got a degree in geology from the University of Alberta in 1964. As part of that, I started working in the bush in northern Saskatchewan on government surveys. I found that was a lot better than working on the railroad as a section hand, so I became a geologist.
XL: So... you'd been working on the railroad?
Virginia Energy Resources (V.VAE) announced a positive Preliminary Economic Assessment on its Coles Hill uranium project in Virginia. The initial operation would produce about two million pounds of yellowcake per year, and life-of-mine would be an impressive 35 years. Overall economics are favorable; based on a long-term uranium price of US$65 per pound, the internal rate of return would be 36.3%, at a 7% discount rate. The company's next step is to advance the project through the pre-feasibility stage.