meerkat

you may be right but i`ll stick with the pros. if they`re right. i stand to make a few pennies, if they`re wrong, i`ll lose a few. rather go with them than you


Western Metals (WMT.AX)


I’ve gotten a ton of emails lately from readers who want a small and
highly speculative resource play.

Well, here is a very speculative, but very promising play on the
Australian market. Don’t let Australia scare you. Call a resource
broker that handles Australian stocks which you will find at the end of
this report. Western Metals Limited is listed on the Australian Stock
Exchange and is mining for uranium in Tanzania and the United States.

“To date uranium exploration in Tanzania has literally only
scratched the surface. Despite the favorable geology for
uranium deposits and several known occurrences the average
historical expenditure on uranium exploration in the country
has been US$4 per km2 compared to US$16 per km2 in the
western part of the African continent and US$224 per km2 in
the United States.”

“Tanzania has favorable regulatory and stable political
conditions for exploration, as evidenced by the boom in its gold
mining sector in the last 10 years as well as strong investment
in nickel, platinum and coal exploration. Western Metals
Limited has entered into a farm-in agreement with Uranium
Resources plc (URA) over Prospecting Licenses covering 3,774
km2 of ground prospective for uranium in the Mtonya, Ruhuhu
and Makutapora areas of The United Republic of Tanzania
(Tanzania).”

“The agreement allows Western Metals to earn up to 60% in
the project areas by spending A$4,000, 000 over a 4 year
period commencing from May 19th 2006. Western Metals must
expend a minimum of A$500,000 in the initial 12 month
period.”

“The Mkuju Prospect, discovered in 1978, located
approximately 40 kilometres to the north and east of the
tenements is the targeted model of mineralization for the
Mtonya area. The Mkuju Prospect has returned near surface
channel and trench samples up to 2.18% U3O8 and shows that
significant amounts of uranium have been mobilized from
basement rocks and were precipitated within the reduced
fluviatile sandstones of the Karoo formation. The uranium
enrichment at Mkuju extends over an area of 5x3 km that
indicates that the “uranium front” is large enough to generate
ore bodies.”


ADDITIONAL LAND PROJECT

“The Board of Western Metals announced the acquisition,
pending final notification of grant, of additional uranium
exploration tenements in Tanzania in the highly prospective
Karoo Basin. The acquired interest is 3,774km2 of prospective
ground. THIS INCREASES THE TOTAL LAND HOLDING TO
7,640 KM2. ALL TENEMENTS CONTAIN PROSPECTIVE
URANIUM HOST ROCKS AND RADIOMETRIC ANOMALIES. This

ground compliments the current uranium projects held in
Tanzania.”

Click

Western Metal has 442 million shares. Now don’t get excited here as
this high number of shares is typical of Australian gold and resource
companies. The important fact is that the market cap is only around
100 million US.

Buy this one as I think the odds favor this one climbing higher.

Western Metals (WMT.AX)

Global Resource can handle the Australian market.

Always buy more than just one gold, silver stock or resource stock -6 is a good
number. Have in advance a selling strategy before you buy your first share.

Global Resource Investment is one of the largest & most respected brokerage
companies specializing in resource companies.

Paul van Eeden - “Global Resource Investments is, in my
opinion, the best brokerage firm in the United States for
investors who want to trade mining & exploration stocks.” click

For a very knowledgeable resource broker & former mining executive/geologist
familiar with the resource markets call:


Steve Todoruk, P.Geo.
Global Resource Investments Ltd.
Investment Executive


[email protected]

(800) 477-7853
Gold Letter receives no compensation for recommending Steve Todoruk & GRI.
© Gold Letter, Inc. All rights reserved. The material presented above is based on information and sources
believed to be reliable but its accuracy or completeness cannot be guaranteed. Gold Letter, Inc accepts or
assumes no liability for the foregoing material. There can be no assurances of the company reaching sales


forecasts or projections as outlined in this report. Gold Letter, Inc. has relied on management for
information and data presented in this report and has not verified its accuracy. The analysis contained
herein does not purport to be a complete study of the featured company and any views expressed are as
of the date hereof and are subject to change without notice. This report is for information only and is not
intended as an offer or solicitation with respect to the purchase or sale of any security, nor should any
information or opinions expressed in this report be construed as investment advice. Companies mentioned
herein may carry a high investment risk; and readers should carefully review the companies thoroughly
with their registered investment advisor or registered stockbroker. David Vaughn, entities in which he has
an interest, employees, officers, family, and associates may from time to time have positions in the
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© Copyright 2006, Gold Letter Inc.