I attended Extract's presentation a the Africa Downunder Conference today.
The presentation was really nothing different from the last one, which is already posted apart from the new drilling updates.
However Peter Mc did give us a few more pieces of the Extract puzzle way, as follows:
Continuing to test the remaining 9kms of RS.
The geo's believe that the dark purple areas on the image in Figure 1 of Appendix 1 in the lasted drilling update have the same signature as Zone 1 and 2
The company expects to have a resource of well over 300Mlb by Christmas, growing to a resource bigger than McArthur River, (i.e around 500Mlb), by this time next year.
Zones 4 & 5 should be defined within 12-18mths.
Total exploration cost are running at less that 10 cent per lb, due to the high grades which are becoming even higher.
Extract's sent production estimate of 15Mlb per annum, would put it a close second, to the worlds biggest producer McArthur River's at 16Mlb per anum.
Peter Mc believes that the next 12 months will be even more defining and exciting for Extract than the previous 12 months.
Considering all of the above he was thinking of changing the name of Rossing South to Rossing Big.
Regards
Steve
EXT Price at posting:
$9.78 Sentiment: LT Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)