uranium at balama, page-11

Good advice, Duke, to look again at that 2007 report from Heliosource. Several points come out.

"The Company" mentioned in the report is not SYR, or, indeed, any of the previous holders of the Balama lease. It is Heliosource itself, (a prospecting company) and Mr Siegfried is an employee of Heliosource (or was then, at least).

We should not forget that aerial surveys are chiefly used as a large-scale, first-pass study of an area. If aerial surveys, alone, were sufficiently accurate and reliable to show the presence or absence of resources, then a lot of ground-based geologists would be out of a job. Radiometric anomalies have a long history of not always translating into uranium finds on the ground.

As the Heliosource report, itself, points out,:

"Rock and soil sampling needs to be completed ... to verify the airborne data"

and

"The next phase of work requires ground follow-up to identify the cause of the anomaly"

SYR/Jacana is the third company to hold the Balama leases since the Heliosource aerial study was done, and the report published. The first two of those companies, at least, were primarily searching for uranium.

Did they find anything significant?

In both cases, the lease was transferred for peanuts. African Eagle sold to SYR in 2011 for $1.5m (which, in hindsight, does not look like the greatest business decision in history).

Really, how much uranium do you think they found?

Cheers, Prime1