FWIW the talk is 25c then 40c with the action that is taking...

FWIW the talk is 25c then 40c with the action that is taking place out in the drill field & the deals being worked on - watch this space.

As I posted on a TUC thread ATQ has nearology play to PDN & MRU so big big potential.

Most know of PDN & MRU is on a flier.

From ATQ website
Tunduru
Key Facts

Concession and application are in close proximity to recently reported exploration successes
Well documented uranium host rock Karoo Sandstone
The concession and application cover part of the Karro System and the underlying geology is considered to be prospective for uranium. The region is underexplored in regards to the uranium potential.

The rocks of the region are shown to be largely underlain by formations of the Phanerozoic Karoo Supergroup and Proterozoic Usangaran metamorphic formations to the east.

Previous exploration activity for Uranium in the Karoo Basin in 1976-1977 by Geosurvey International included a countrywide airborne geophysical survey comprising magnetics, electromagnetics and radiometrics.

The Karroo formations occur throughout Southern Africa and have drawn much attention form previous explorers. Uranium mineralisation is thought to be associated with the sandstone beds as roll fronts. The region is currently actively explored by close neighbours, Mantra Resources Limited and Paladin NL (both Australian listed companies).

TANZANIA DEVELOPMENT
MDM awarded PFS contract for Mantra's Mkuju River uranium project
Tanzania, with strong uranium potential, may be the next African country to develop a uranium industry as MDM Engineering wins a pre feasibility study (PFS) contract for Mantra's Mkuju River project.

Author: Lawrence Williams
Posted: Friday , 31 Jul 2009

LONDON -

South Africa's MDM Engineering Group (AIM: MDM), has been awarded the contract for a Pre-Feasibility Study (PFS) for Mantra Resources' (ASX: MRU) flagship Mkuju River Project (MRP) in Southern Tanzania. The award comes after MDM's recent successful completion of the scoping study for the project.

Mantra is an Australian listed mineral exploration company with a portfolio of advanced uranium projects in Southern Africa. It considers Tanzania particularly prospective for uranium. The prospecting licences and applications there are largely within the highly uranium prospective Karoo-age sediments of southern Tanzania (Mkuju River Project, Mbamba Bay Project and Southern Tanzania JV's) and paleochannel associated calcrete and sandstone hosted uranium targets within the Bahi catchment of central Tanzania (Bahi North Project and Handa Project). The Mkuju River prospect is to the east of Malawi's firts uranium mine at Kayelekera which is being developed by Paladin Energy and which is currently in the ramp-up stage to full production after mine commissioning earlier this year.

The uranium potential of Tanzania was established by a country-wide airborne geophysical survey conducted for the government in the 1970's which generated a large number of radiometric anomalies hosted within different geological settings. Subsequent exploration undertaken between 1978 and 1982 resulted in the identification of numerous occurrences of surface uranium mineralisation and recognition of the potential for several uranium deposit types in Tanzania.

Mantra is currently carrying out a comprehensive resource drilling programme at Mkuju River. Drilling to date has confirmed the presence of multiple thick zones of sandstone-hosted uranium mineralisation at shallow depths. An Inferred Mineral Resource of 35.9 million pounds U3O8 has been estimated. This initial resource estimate is based on drilling that covers only a small part of the total area of the prospect, and the potential exists to substantially grow the resource base with ongoing work.

The results of the recently completed MDM scoping study have confirmed the technical and economic viability of the project, and its capacity to operate with strong cash margins. Using the current resource estimate as a base case scenario, Mkuju River would be able to support a minimum annual production of 2.5 million pounds U3O8 for a minimum ten year mine life.

The scope of work for the PFS will see MDM managing the inputs from various consultants as well as the owner's team, in addition to providing the process plant and infrastructure design as well as the capital and operating cost estimates for these.

Once the PFS has been finalised, expected to be during the fourth quarter of 2009, Mantra anticipates the award and commencement of a Bankable Feasibility Study.

Infill and exploration drilling is also currently being undertaken with the objective of upgrading the resource classification of portions of the current inferred mineral resource, and increasing the overall resource base. The drilling programmes are scheduled to be concluded by December 2009, and will be followed by a revised resource estimate expected to be completed in the first quarter of 2010.

George Bennett, MDM Engineering Executive Director commented: "Following the successful completion of the Mkuju River Project scoping study for Mantra, MDM is pleased to continue its relationship with Mantra through the award of the pre-feasibility study for this project. We have enjoyed a close working relationship with Mantra and look forward to our successful partnership continuing."

MDM Engineering Group is a minerals process and project management company focused on the mining industry. It provides a wide range of services from preliminary and final feasibility studies, through to plant design, construction and commissioning. To date, the Company's clients have largely been junior and mid-tier mining corporations with operations in Africa.