This is a copy of my most recent post on TOE thread about Lake Maitland. In February 2009 Mega Uranium Ltd announced a MOU to sell 35% of this project to a Japanese power company. Lake Maitland is a similiar surficial calcrete deposit to Wiluna Project with similiar total resource (23.7mlbs) and similiar grades. The proposed transaction values Lake Maitland at about $212m. (refer Resource Capital Research on TOE Website). Given TOE currently has a Market Cap'n of only about $116m this Lake Maitland transaction clearly shows the market is not fully valuing TOE. Further research will show Napperby (NT) & Namibia (Africa). Namibia ground prospects were also improved by DYL ASX announcement yesterday. Parent company OZL now also looks to be in a far stronger position to support & fund TOE projects if their Chinese deal is finalized by say Mid June. Regards Buffett Remember to be careful in this market & not be greedy.
