Just following up on this announcement and doing a bit of...

Just following up on this announcement and doing a bit of research and my conclusion is we have hit some pretty exciting numbers here. You have to remember that this is a ISR deposit so need to compare to fellow ISR projects.

Nearby to us is UR Energy (Market Cap = US$400m) and their Lost Creek deposit which GTR are trying to use as a base for our results. From the announcement:

Ultimately the Company is focused on defining mineralisation similar to that discovered and mined at the nearby Lost Creek deposit and that otherwise meets typical economic cutoff criteria for sandstone hosted ISR uranium projects in Wyoming’s Great Divide Basin e.g:
 Grade greater than 0.02% (200 ppm) U3O8
 Grade x Thickness (GT) greater than 0.2 (10 ft @ 0.02 ‐ 3 metres @ 200ppm U3O8)
 Width of mineralisation above cutoff nominal 50 feet (15 metres) and nominal GT of 0.4

So we are searching for 0.02% grades and GT >0.2. Width will come later with more focussed drilling.

Looking at our latest results:

23 holes drilled recording better than the minimum targeted economic Grade Thickness (GT) cutoff of 0.2GT with an average of 0.57 GT

So an average GT of 0.57 is circa 3x the cut-off. Looking at few of the holes we achieved:

BR-1002 Grade 0.063 to 0.074 GT = 1.74
BR-1005 Grade 0.044 to 0.051 GT = 1.92
BR-1030 Grade 0.032 to 0.082 GT = 1.05

Excellent hits that will be the focus for further drilling. UR Energy's average grade is 0.045% and their operation costs are $16.34/lb so if GTR can achieve similar results their margins at $65 spot and above are crazy good. Add in our new aquisition a Green Mountain which looks even more prospective for Uranium.

In summary, GTR is a sleeper with huge potential and eventually the market will catch on.