Ann: 115% Expansion of Stated Uranium Resource at Dawson Hinkler, page-115

Plenty of negativity with Toe the worst uranium performance on the asx as its share price shows
issues WA government the management or lack of which is all true
assets the Wiluna uranium project as well as the dusty nickel and yendal gold projects proposed demerger of the later 2

Toe has a current MC of $45m and over $12m cash at last count
value yendal gold and dusty projects at zero
Taking the cash out of cap leaves Wiluna at a value of $33m was recently tweaked with numbers to about 100mlb a large resource = .33c pound in ground
which was in advanced state and had approvals to mine but lapsed due to not proceeding to commence
most punters are looking for stocks that are undervalued that have plenty of upside if it bears fruit
to get some value on Toe you have to look at peers as close as possible
the best comparison is CXU in the same state of WA a cap of $45m $2.5m cash at last count and a recently tweaked upgrade resource of 38mlb
taking the cash off the cap values the Cxu resource at $1.12 a pound in ground and was not as advanced state as Toe but is near 4x in value more
and if you go up the food chain like bannerman or deep yellow values for pounds in grown they are closer to 20x more
in September 21 toe hit a high of $2.90 when you take into account the consolidation

a explorer can spend more trying to find and never find what the toto resource is valued at even if the find they will spend that amount to develop it
so here we have it .33c a pound in ground peanuts are valued at 10x more per pound
toe has the option stated that he can apply for MS 1051 approvals due to a change in its original mining plan supposedly
I personally prefer toe position to any explorer mining current moose pastures

the risk is in the value is there fortunes are made with these ingredients not hyped up overvalued party stocks
I agree with a post posted by drumma just recent he stated watch this space ?