Maximus has an Inferred Mineral Resource at "the Windimurra Uranium deposit of 19 million tonnes at an average grade of 180 parts per million U3O8 (Table 4). The estimate used a cut-off grade of 100 ppm U3O8 for a U3O8 content of 3,400 tonnes (7.5 million pounds). This resource is located between the surface and a depth of 6.5 metres.
The main palaeochannel hosting the Windimurra uranium
resource extends further than the area that was accessible
for aircore drilling through heritage clearances".
The existing resource has possibly a 2 to 3 times increase in resource and on top of that, the palaechannel to the north is a bigger area. GDA has been in discussions with the Chinese about JV's in China for a while and the question is, are the Chinese one of the interested parties in the Uranium as a farm out or JV, referred to in the Annual Report. I don't know but would sure like to.
From Mineweb ....
"AUSTRALIAN URANIUM IN DEMAND
The Chinese were coming, now they are here
Two decades ago the North Americans and South Africans took control of most of Australia's major gold companies, 18 months ago China began its corporate manoeuvres on iron ore and now the quest for control of the country's uranium reserves has begun to gather momentum.
Author: Ross Louthean
Posted: Wednesday , 09 Sep 2009
PERTH -
The snowball of action by parastatal Chinese companies to took a big roll forward this week when China Guangdong Nuclear Power Holdings Co (CNGNPC) said it would bid A$1.02 (US$0.87) a share cash for up to a 70% stake in Energy Metals Ltd (ASX: EME).
The bid, described as friendly, would also include an underwriting for A$11.7 million (US$10.04 M) at A90 cents a share, that could see the Chinese company gain up to a 73% stake.
The bid was at a 19% premium to the closing price on Monday, but Energy Metals share price soared today to above A$1.10 before settling near trading close at A$1.08 (US$0.93).
The deal was see by chairman of the Australian Nuclear Science & Technology Organisation, Ziggy Switkowski, to suggest this bid would be first of many from Chinese companies.
"There will be demand for uranium, and Australia is seen to be the highest-quality provider in the world," he told The Melbourne Age newspaper.
China was currently building 13 nuclear reactors and has been the biggest buyer of uranium on spot markets. CNGNPC owns four nuclear power plants and, according to Switkowski, brands itself as a leading green (solar and wind power) and clean (nuclear) power producer in China".
Add to My Watchlist
What is My Watchlist?