re: Ann: A-Cap to tackle Metallurgy of Primar... KetamineJust...

re: Ann: A-Cap to tackle Metallurgy of Primar... Ketamine

Just need to correct your post

Firstly: They have already mentioned in the scoping study a year ago that the primary ore was only leaching out 30% - 50% of u3o8. So they have been up front all along ... nothing new here.

Secondly: The current mining feasibility studies have ALWAYS been based on mining the surface, secondary uranium in the calcrete, & Karoo mudstone. This was based on the JORC of 2008, and the scoping study models have been given the go ahead as feasible. Since then we have had another 12 months of drilling at Mokobaesi, Kraken, and Gorgon. Also they have since discovered and drilled a NEW deposit at Serule, and now another has been hit at Serule West. They still have only touched the surface of the region, with another 80% of Letlhekane yet to be drilled .... they will be drilling here for the next 4 years plus!

That secondary uranium JORC of 37mlbs upon which the current BFS is being modeled, will soon be an ancient memory. If they think it is economical enough to progress to BFS NOW , and to model a mine startup in 2011, imagine what it will be in another 12 months!

Even without the primary ore, its a go ahead. Today's news was very bullish, as it shows they have not forgotten the it, but have continued to consult the industry to find ways to untap the value in it. Great stuff ... I cant wait for the resource upgrade in the Oct quarter ... should be a beauty!