One more for today (again from SS)
King Baz has an excellent grasp of RRS in my opinion.
In reply to: King Baz on Sunday 03/07/05 12:27pm
I forgot to mention the Lateegra info. Lateegra is a small TSX company that owns 49% of Solex's Muscani Uranium interests . . . http://www.lateegra.com/
Lateegra have agreed to spend more than a million dollars in drilling/sampling on the SOLEX-tenements . . . because they know that the concentration of Uranium at the site is in the order of 17%. This is consistent with the results outlined by VENA in compliance with NI 43-101 (Aust-JORC equivalent) that mineralisation was in the order of 1.8-28%, with an everage of 11%.
For the reasons sited in earlier posts, namely the superior geology (basin) . . . my personal valuation of RRS's reserve is based on a conservative U-content of 15%. At this purity, RRS's 80% owned Corachapi is worth a fortune. Tertiary-age basin, indicates to me that the basin is deep . . . I've cited an average uranium purity of 22% for Corachapi and stick to it, as IMHO it would have to be higher than those of our neighbours.
Another consideration is the price of Uranium should double by the end of the decade (read SLX posts/webpage) . . . and RRS should increasingly be compared to PDN for valuation purposes.
We should have picked up on RRS back in April, but Forest . . and a certain director must have left a sour taste in the mouthes of a few
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