re: Ann: Initial Resource of 35.9 Million Pou...
Tetonka,
You make valid points and I can't fault your comments on Mantra's pounds in the ground with higher grades, but the Game Reserve (GR) is World Heritage Listed and should be massively discounted at this stage. Most of the JORC is in the Selous GR.
Sure, if the Tanz. govt happens to be persuaded (????) and moves the GR boundary then its open for business, but until then its a massive risk play. The increase in investment into Mantra by HP is a vote of confidence, but I guess its a wait and see approach.
Uranex need to get their drilling underway in their Mkuju tenements (not in the GR) - don't forget that. Also, with the sonic rig at Bahi (now Manyoni ??) where you quoted the 6.7m lbs, hopefully an upgrade will occur. I recall they have two further playa lakes to drill out.
Bahi (calcrete) is much shallower than Mkuju River(Sandstone - more leaching required). Not as big, but could be a good money earner with low costs. Further drilling required to prove this. Hopefully this is occurring very soon!
Also, Thatcher Soak (in Western Aust) is an asset held by Uranex. It may become stock feed (an asset sale) to provided the company with cash. All speculation of course though.
I will post this on the UNX thread as well.
Ciao
MRU Price at posting:
$1.78 Sentiment: None Disclosure: Held
