Previous non JORC drilling reported a resource at DD of U308 11,000t and Gold 2.5 million Oz.
Current spot U308 = US$80 lb
Current spot Gold = US$664.10 Oz
Inground U308 value = AUS $2,142,375,000
Inground Gold value = AUS $2,502,756,600
Total current resource value = AUS $4,645,131,600
The current drilling program aims to bring the resource of 31.5 million tonnes pf 0.35kg/t U308 and 2.5g/t Au from Inferred to Indicated status. When this happens, the SP will be seriously rerated. With further exploration the resource could end up being much larger.
With a market capitalisation of under 30 million, AEX would have to be one of the most undervalued uranium stocks around.
great potential
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