Eromanga Uranium published their annual report after the close...

Eromanga Uranium published their annual report after the close of trading today, highlights I think worth noting are.....

Maximus floated ERO and have several JV's together.

Maximus Resources Limited current holding in ERO is 44,607,143 shares 27.85 % major shareholder status No 1
The 2nd largest shareholder has 2.73%

Value of MXR's listed ERO shares @ 6c is about $2.6m
Each 1c increase in ERO equals $446k increase in value to MXR.

MXR also is the No' 1 largest option holder ( the options are unlisted) with 8,035,714 ERO options (27.83%)
The options are exercisable at 30 cents on or before 30 June 2011.

The information is current as at 12 October 2009.

The recent focus by Eromanga Uranium on gold and the acquisition of the producing gold mining operation north west of Charters Towers should see the ERO share price begin to return to previous higher levels which would see MXR's options return some value if the options get back in "the money", previous high in 2007 was above 50c.

...."Gold production from the Georgetown operations,
forecast for the March quarter of 2010, the Company
believes that the resultant positive cash flows will support
an ongoing and aggressive portfolio of exploration
programs throughout the year. In addition the Company
believes there is considerable potential to grow the
resource base in the Georgetown region offering the
potential to expand the levels of gold production and
foster ongoing growth of Eromanga Uranium"......"three-fold
expansion of mine capacity"......"The Company believes that the initial bulk sampling and grade estimation conducted across the granted mining leases at the Georgetown Gold Project strongly supports an Exploration Target* of 1.75 to
2.25 million lcm at an average grade of 0.45 to 0.55 g/lcm. Should an exploration target of this size be defined by further bulk sampling it would contain 40,000 to 45,000 ounces of recoverable gold".

....."Analysis of the alluvial gold deposits within the Company’s mining leases indicates there are at least seven (7) separate primary gold sources"....

Uranium projects in NT and SA

"The Billa Kalina project comprises three exploration
licences located approximately 70km northwest of the Olympic Dam copper-uranium-gold mine and 45km east of the Prominent Hill copper-gold deposit (Figure 8). The project is subject to a 50:50 joint venture with Maximus Resources Limited (MXR), Eromanga manages the project. The project is
considered to be prospective for iron oxide-coppergold-
uranium (IOCGU) and sandstone-hosted uranium mineralisation".... currently negotiating with the Defence Department over exploration access

Nackara Arc Joint Venture in the Peterborough area of south-eastern South Australia.....defined a significant gold anomaly extending over 450 metres along strike (this zone is up to seven metres in true-thickness and remaining
open both to the west and south-east).Drill testing of the Hillside anomaly is scheduled to commence in late 2009

"The Suplejack Project is located in the Tanami Region of the Northern Territory approximately 600km north-west of
Alice Springs and covers an area of 168 sq km. The Company considers this tenement to be prospective for both
high-grade, unconformity related uranium mineralisation and for gold deposits of the Coronation Hill, Callie and Groundrush styles".

There's other projects but the above sums up what I found that might be price sensitive for both MXR and ERO when ERO announce project updates etc.