Having this uranium asset in WA with the current government is...

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82Punter

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08/03/21

13:21

Post #: 51598849
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Originally posted by silvahman: ↑

The cheapest play Uranium play on ASX. 14million$ spent defining this low cost ISR project, shallow Uranium. Most of the hard work is done. The WA Uranium asset is awaiting to be mined at low cost.
TOE.asx Uranium asset also in WA (MC $50mill), (CXU MC $13mill).

CXU should have been mining this asset in 2020. Since 2016 the company has gone completely quiet about this asset, due to WA Labour government banning Uranium mining. Why is it so cheap at $13million, compared to DYL (my other holding) @ $215million.

Do the digging/research @ www.cauldronenergy.com.au under 'announcements' to find how far this company has gone with it's Tier 1 asset.

An Australian asset, high grade, low cost, ready to mine now.

First drill hole intersects a spectacularly high grade zone of uranium mineralisation
 Mud rotary drill hole, BW0098 intersects three mineralised zones:
 BW0098: 1.25 m @ 293 ppm eU3O8, from 82.5 m
 BW0098: 1.80 m @ 2900 ppm eU3O8, from 86.0 m;
 incl. 1.10 m @ 4520 ppm eU3O8, from 86.35 m
 BW0098: 0.90 m @ 268 ppm eU3O8, from 88.6 m

CSIRO completed ten column leach tests on five mineralised zones sampled by core taken from Bennet Well East and Bennet Well Central. Both acid leach and alkali leach was tested. Oxidant was added to each leachate mid-way through the leaching cycle.

CSIRO tested nine commercially available ion exchange resin pellets used for stripping uranium from of a pregnant leach solution. The ion exchange screening showed:
• near 100% adsorption of uranium from acid solution is possible from one of the commercially available resins;
• suitable resins are available for alkali leach solutions, although resins generally perform better for acid leach than for alkali leach solutions;
• in the acid leach solution, a resin generally performs better for low oxidant conditions.

Ravensgate Mining Industry Consultants completed the December 2015 Mineral Resource (JORC 2012) estimate upgrade for the Bennet Well deposit, as follows:
• Inferred Resource: 16.9 Mt at 335 ppm eU3O8 for total contained uraniumoxide of 12.5 Mlb (5,670 t) at 150 ppm cut-off;
• Indicated Resource: 21.9 Mt at 375 ppm eU3O8 for total contained uraniumoxide of 18.1 Mlb (8,230 t) at 150 ppm cut-off;
• total combined Mineral Resource: 38.9 Mt at 360 ppm eU3O8, for total contained uranium-oxide of 30.9 Mlb (13,990 t) at 150 ppm cut-off.

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Having this uranium asset in WA with the current government is like having a Ferrari in the garage and no keys!

CXU Price at posting: 3.5¢ Sentiment: None Disclosure: Not Held
2 Upvote

0 Great analysis

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