Some BIG numbers alright and this stock used to be trading over...

Some BIG numbers alright and this stock used to be trading over $2.00 in 2007 at its peak --- still only 200 million shares on issue so if we assume by time they get into production we may have 400 million on issue - it could look like this
3 million lbs/ u308 annual production at $20 NPAT per pound = 60 million (net profit) 60m/400m = 15c EPS (earning spec share x P.E multiple of 10 = $1.50c share and we currently below E.P.S - HOW RIDICULOUS IS THAT!!!

Lots happening in next 6 months

BANKABLE FEASIBILITY STUDY - LETLHAKANE
Metallurgical Column Testwork
The results of a series of 7 diagnostic leach columns using Gorgon South primary ore (minus 8mm sorter concentrates) indicate extremely encouraging recoveries of between 70.5-75%. Four column heights were evaluated (0.4m, 1m, 2m and 4m) using 25kg/t agglomeration acid and a leach solution of 100g/l sulphuric acid. Results indicate similar recoveries of between 70.5-75% U3O8 in all seven tests and 4 column heights. The 4m column gave a final recovery of 74.4% which is extremely encouraging and indicates potential for a leach pad height of 4m or greater.

The first phase of the optimisation test program will commence in late April and evaluate all four ore types (Serule West primary, Gorgon South primary, Kraken primary and mixed oxide) using three crush sizes (minus 8mm, minus 19mm and minus 30mm) under 3 different acid regimes. This first phase will take approximately 3 months to complete.

Environmental and Social Impact Assessment (ESIA)
Two ESIA studies are currently underway, the main project ESIA and the wellfield ESIA. In both cases a scoping report has been accepted by the Department of Environmental affairs and various specialist studies are currently being undertaken. The final reports are planned to be submitted to the Department by early 2013 for review.

Wellfield Exploration
Drilling and pump testing of exploration boreholes has been completed and a final report received. Application for an abstraction permit is planned to be submitted by the end of 2012.
Power Supply
A system survey has been undertaken by Botswana Power Corporation and recommendations given. It is planned to sign an MOU with BPC by end 2012 and start design and construction of the infrastructure in 2013.


Cheers MMM