conservative appraisment for wme

Our view on WME (Jan + hk2000)
Conservative appraisment for WME

100 Mill. lb Uranium in case of 73$ / lb offer an income for WME apout 7.3 billion.
Price increases not taken into consideration.

even if there will be a capital increase of approximately 200 Mill. Shares to 500 Mill. shares, WME will have an upside target of 1,- Euro ( 1,7 $ ) a share in the near future.

…so what is the reason for the low WME share price ?



Conclusion:
98+53 = 151 Mill. lb uranium potential.
So WME could produce around approximately 7 Mill. lb each year by a mine-lifetime of 20 years.

The water problem due to a line at the border to AREVA seems solved.

All facts bring WME in position for mining on Marenica with good prospects.
Also is there a good possibility for WME to be assumed by other companies such like Areva.



Our calculation renewal after 11.04.2008

Surface 1) - the 15 Mill. lb are on a surface of 4,5*2,5 km = 9 km², this surface is however not completely examined, is done at present (1-3), via this surface leads a road,

Drilling results were already indicated

Increase of this surface, (+ 3 Mill. lb), probably still in this year


Surface 2) in the south and the east of the surface 1 is the surface 2 of approximately 20 km² with AREA NR 4,
here drillings are well-known in several parallels nearly over the entire width, moreover there are 2 drilling channels and 2 surfaces those were particularly drilled,

AREA 4 in the southwest of this surface and a small area in the southeast this surface

The following calculation results from the tables with the data from 11.04.2008 to 209 drillings were summarized from 2007 / 2008

Basis: Density = 2,5t/m³

average thickness = 5,5m

average concentration = 168 ppm


20km² * 5,5m * 2,5t/m³ = 275 Mill. t with 0,168g/t = 46.2 Mill. t * 2.2 = 101 Mill. lb for this surface, to me is conscious that these data can still change, therefore I discounted 20% from this calculation.That should be sufficient.

So there are approximately 80 Mill. lb after current conditions.

The drillings are relatively economical due to the small depth

Interesting is further for this surface, that is within the range of the 2. Parallel to third, the radon measurement indicates strong up contents. In the 2. Parallel there are 4 holes wich exhibit values above average. From there on the good results are going on from northeast to southeast up to 4. Parallel, and the last data with a thickness up to 20 meters.
Obviously the 20 km² ends at the road by the area.

Surface 3)

in the west of AREA 2-3 a surface of 4 * 3 km = 12 km² (over the road) it is to be examined by radon and in the picture of 07.04.2008 are 2 parallels drawn in witch drilling is supposed.
The surface which could be still analyzed is extended on approximately 32 km². Then it is thrice more largely like the surface of the Jorc study and has like it looks better degrees.

Together: 15+3+80 = 98 Mill. lb + surface 3

So it could be possible that only on this total area over 100 Mill. lb already exist.

Additional to this view:

Surface 4) radon measurement of 25.03.2008

In the southwest a surface by approximately 10 * 2.5 km = 25 km² where by drillings uranium was already proven. According to radon measurement this surface displays 50% middle to strong uranium values on an area of approximately 12.5 km².


Surface 5)

In the southwest there is a surface of 28 km² where drilling is started. The entire surface in the channel is however larger than 28 km².
Uranium by radon was proven, within the range of the drillings strong radioactivity is indicated.

This surface becomes interesting, because it directly rests against the surface of Areva.

Further target areas are:

A 40 km² large surface in the north, where primary uranium is assumed and already proven with Geiger-counter, (no fill)

Northeast of the surface 3, in the west along the road and in the south at the border,
those areas exhibit small depths by fill.

Due to the radon measurement there is still further an area of 40 km² . Conservative appraisment there are minimum 53 Mill. lb + the primary uranium (supposed only 3m with 100g/t and 20% discounted)