super 1) there was a lot of discussion around Firawa. They clearly see this as an early start up production scenario. They are tageting to raise the resource to +20mlbs @ cash costs of <$25lb to support a very profiatble 10 year mine life. They quietly expect to achieve this next year, maybe more. Re REE- again it's very early days. If they get similar high readings from the next samples it would seem prudent, given the potential higher value, to resample the bulk of the core. Downside is delaying further Met work and feasibility for a U mine. Brad stated that it would be a waste of time continuing with a U mine plan if REE is dominant. So i assume you can't have both, but it wasn't made clear. He did say that it was a nice problem to have a $$$m U mine in one hand and potentially a $$$$$$m REE on the other. 2) Brief mention on the other targets- work is progressing and new zones are being identified for future drilling. Brad believes that the BEN/MOG region will potentially host several 10-20+ mio deposits (=100mlbs), rather than one big mother load (think Extract). As soon as they firm up +20mlbs in one place (A238?), that will justify a centalised mill for multiple deposits.
Reading between the lines i think we'll see first assays from 238 later this week and then again before xmas.
FTE Price at posting:
12.0¢ Sentiment: None Disclosure: Held
