? Dispatch appropriate samples for David tube test work to provide information on how the material can be upgraded by magnetic susceptibility. This testwork is essential if any part of the resource is to be upgraded to Measured category.
? The in situ bulk density dataset needs to be substantially increased to establish the relationship between bulk density and oxidation. Oxide material is generally a lower density but applying conclusions from the small existing dataset could lead to unreliable tonnages. Once again, a robust dataset for density and a further review is critical if any part of the resource be upgraded to Measured.
? Conduct multi-element testwork on all samples, including deleterious elements like S and P, so that these can be reliably reported in future updates.
? Drill more deep diamond holes to test the extents of the mineralisation down-dip. Three such holes have been drilled to date, but were not included in this update. Targeted drill-holes which corroborate these results could be used in future updates to extend the mineralisation down-dip. A preliminary optimisation would help to clarify if down-dip mineralisation would have any reasonable prospect of economic extraction and should be conducted prior to any further deep drilling.
? A program of shallow holes should be conducted to test the near-surface potential of the mineralisation. In the current interpretation, the mapped units of moderate to high magnetism have been used to extend the interpretation through to the surface. However, verification drilling would provide information on whether this is appropriate.
? The relationship between V2O5 and the other estimation parameters was explored through the use of correlation plots. They showed a slightly different relationship for low grade material, than that seen in high grade. This purely statistical grade trend may impact the metallurgical treatment of high grade versus low grade material, and should be investigated.
? Further focussed drilling would benefit the resource, to provide additional data in the high grade domains, in order to perform variography and tighten the interpretation in areas of lower confidence.
4/4/12
YRR puts the CSA report on their website under the NEWS section. Old news and still no real progress in acting on the report. Instead the focus has shifted more towards gold and copper. Not a bad thing in itself but shouldn't become the main focus otherwise YRR becomes just another grassroots explorer with many years and dilution ahead of it to ever prove something up.
Surely the aim now should be to get Gabinintha up to a measured resource asap, whilst working behind the scenes to ensure all permits and studies are being completed at the same time. The behind the scenes stuff may be getting done but the drilling hasn't been progressed at all.
An what of Nowthanna Uranium?. Are they ever going to show any interest in this project? Previous management did nothing and the signs are this team has little interest also. If they don't intend progressing the uranium then why not sell it off to raise cash instead of the inevitable cap raising not far away.
There's been quite a bit of conjecture on YRR and PDY about who's doing the best job at the respective companies. Both teams are progressing the projects, but neither is showing any real haste. IMO neither management is performing very well and no amount of ramping either up or down by some posters changes this.
The sp of both companies is pathetic and reflects the disinterest by the market of companies that either over promise or under deliver.
YRR has gone backwards in the eyes of the market due to the CSA Global report correcting the load of crap put out by one of the previous board incarnations. Gabinintha has gone from having a substanial measured resource to an indicated/inferred resource needing further drilling. And the scree ore deposit has been removed from the calculations completely.
The current board has been buying on market which is a good sign, but without them the sp would still be around 1c imo. They propped the sp up and now it is drifting down since they stopped buying.
Compared to TNG and others YRR is very cheap. The downside is the likely dilution of a cheap cap raising. About the only way around this is to sell off Nowthanna which the market has attributed zero value to, or get a major player involved as a j/v partner in Gabinintha.
One postive announcement can change the sentiment towards YRR. The same applies to PDY. The question is always the same, Is the current board capable of turning things around. So far the task has been beyond all the many pretenders who have occupied director seats of both companies.
The next 6 months will go a long way to answering the question as both companies will need a large cash injection from somewhere.
All imo.
Chocolatefudge, you seem to have the ear of management. Care to reply or correct anything that you believe is wrong in the above?
AVL Price at posting:
1.6¢ Sentiment: None Disclosure: Held
(20min delay)