I must admit that the pounds was not as surprising for me as the grade.
If you examine the table in the announcement you will see that with a cut-off of 100 ppm they are quoting 108.3 million pounds.
However, if you look at the 200 ppm cut-off you still get 103.7 million pounds with a grade of 460 ppm !!!!!
Let's pause to think about that.
200 ppm cut-off and you STILL have 103.7 million pounds, 100% owned, not partially owned.
We've seen other companies use 80 ppm cut-off but most use 100 ppm. If other companies quoted a 200 ppm cut-off their resource statement would be trivial, perhaps close to zero.
This is incredible, really it is.
The next few weeks will see approaches from other companies for sure and I only wish that management were allowed to publish such information because it would be great for shareholders to know what is happening in the back-ground.
EXT Price at posting:
$1.46 Sentiment: Buy Disclosure: Held
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