I have no idea why the company is perusing uranium in WA – why waste time they should just concentrate all resources on the molly. They would have much chance with this proving up a resource. Looking at the grades from the announcements it appears they are average and nothing to rave about. The quarterly says it all, they were targeting high tonnage at +0.08% but at this grade it was noted ‘that the mineralization displayed a “high” degree of variability, both in grade and thickness.’
A lot of the higher grade finds are only over a length of 2-4 meters which is not a good sign too; you would want these higher grades to cover a greater length. It does a have a small market cap and share issue so any significant find will rocket the price there’s no doubt in that.
I do not hold at the moment but am looking to ring the company up over the next week out some more information
I have no idea why the company is perusing uranium in WA – why...
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