MNS 0.00% 4.2¢ magnis energy technologies ltd

Bahi drills must be out any day now....Thatcher drills would be...

  1. 921 Posts.
    lightbulb Created with Sketch. 5
    Bahi drills must be out any day now....Thatcher drills would be following soon.

    I noticed U3O8 (UTO) have released results and a JORC at low grade. Sure you can get away with it now if spot price is so high, but these low grades would be barely mineable if spot settled back in price. BP Minerals had a cut off of 400pm for 13m lb back in 1970's at Thatcher. If it comes in at 2 or 3 times that now (as management have potentially forecasted in their announcements), then thats 30m lb at 400ppm. Imagine if they went to a lower grade like 150 or 100ppm like many companies have done (the ones that have done so are obvious aren't they?). UNX's resources at that low grade would be HUGE. But no need to hype it. If it was 30m lb at 300ppm or 400pmm cut-off, I think all can see the value there. Most may re-assess when Thatcher and Tanzania have a JORC each. Good to read the analysts have finally picked up on it.
 
watchlist Created with Sketch. Add MNS (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.