500 feet, page-2

I thought I read in the last presentation that they had 900 feet to reach the uranium deposit?

Either way they have certainly picked up the pace alot!!

By my calcs if they started the decline as soon as the mining permit was issued on say the 25th May and had reached 30m or 98 feet by the 30 June 2nd quarter announcement then they were achieving approx 2.7 feet per day.

In the 7th September presentation it stated they were 211 ft down, a rate of only 1.6 ft per day - worringly slow. If they are 500 ft down as of 1st October the rate has increased to a much healthier 12ft per day.

And the big if - they keep up current rates they will reach the ore on 3rd Nov. However it was also mentioned in the last presentation that double shifting of the operation will occur once a "competent sandstone" was reached, so the ore could be reached even earlier if things go swimmingly.

I certainly feel alot happier holding now, its just a shame info on mining progress has to be gleaned out of an audiofile for a water permit hearing, which incidentily sounds to me like WCU will have no problems with, and a bonus - the WCU folks sounded very credible.