uranium, page-6

Good one K.

notrealgoodatthis_that post that K qoted was written by a poster called "redfrog" in case you are interested.

YRR hasnt found a thing yet. They did however acquire the Nowthanna JORC rated project from GPN who orginally held it. No work has been done on it since current management has been in control.

However, their has been drilling with encouraging results on the neighbouring tenements at Nowthanna. Early indications, before the drilling next door, suggests that YRR has majority of the resource at Nowthanna. Citic Resources Australia owns part of the Nowthanna deposit through a JV with the adjacent tenement owners. Citic is funding the drilling program next door.

Currently, I wouldnt say YRR are in the business of finding Uranium deposits at all. They are however in the business of acquiring many Uranium tenements at any price. Ill let you judge for yourself the merits of that as an investment strategy.....based on china's plans and all that.

tenements adjacent to others with depsits is not always a recipe for success. What counts is the geology which determines a peice of grounds ability to host a resource. Having a tenement in approximately the right area doesnt automatically = success and cannot justify overpaying for the lease. Just something to look at when you do your research.

If you are only just starting out in this crazy game, you couldnt have picked a better time......or arguably a better stock.....as the hard lessons could be dealt out straight up.

Very tough market at the moment. Many compaies are trading at or below their NTA and cash backing.