uranium at balama, page-18

There is an old (and cynical?) investing rule which says of mining prospectuses that "The bigger and brighter the pictures, the less the chance of success".

Helio Resource was in 2007, and remains today, a small, struggling prospector, with a share price about five cents. Naturally, they used a good false-colour image in their announcement. It's available at:

http://www.helioresource.com/s/NewsReleases.asp?ReportID=178390&_Type=News-Releases&_Title=Uranium-Potential-Highlighted-At-Balama-Project-Mozambique

The legend is in tiny print, but you can enlarge it. If you do, it becomes clear that only a small part of the area shows a uranium response above 5 ppm, and there are exactly two tiny spots in black, indicating a reading above 20 ppm. (interesting that you talk of "many" black spots. I was not aware that, in TJ speak, "many" can mean two!)

As Trader23 has pointed out, uranium mines don't get the go-ahead below 100 ppm. The on-ground work by both Helio Resources and African Eagle convinced them that they were wasting their time hunting for uranium at Balama - and the absolutely solid proof of that is that each of them sold the lease cheaply, and walked.

This whole uranium nonsense is just a red herring, aimed at distracting attention from the strength of the project. I'm sure that SYR management are having a good chuckle at this discussion, and quietly going about their business of developing the world's biggest graphite and vanadium deposit.

Cheers, Prime1