If the trail leach plant and the real thing work out, JP Morgan have got in for a steal.
Cefadog (and WONKY ONE !) have no doubt done the sums. I've just spent the past hour looking through the numbers of past announcements. I can't believe the possiblities when considering the following (have I got something wrong ?) :
1. Oban : In Feb of this year, 100,000 sq m of tenement area was worth $70mill at the then spot price of Uranium. 100,000 sq m is only one tenth of 1 sq km, thus 1 sq km at the Feb. uranium value is $700mill. The trial leach plant at Oban will cover (initially !) 3 sq km.
2. The Oban area is small in comparison to two other partially tested areas, Yarramba and Namba. I assume it is these (plus others) which are referred to in today's announcement as "hundreds of kilometers of untested palaeosand channels".
3. CUY has increased its tenements from over 5000 sq km to over 8,000 sq km.
If all goes well, $2.40 should be the steal of 2007. I know WONKY comes across as a 'f~arking mor0n' but CUY should fly beyond his $12 rave.
CUY Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
