bundey river uranium geophysics looks exciting, page-7

klob25,

It is important to ask,"what would THR need to do to justify a share price of $2?"

First, with only some 230 million share and options on issue, THR would have a share market cap of only $460 million if THR 's share rose to $2.

Next IF [I repeat IF] uranium is discovered Bundey River, the ore tonnages are very likely to be many millions of tonnes. Even a relatively low grade discovery could be commercial.

We need to remember [I have said this before] that with uranium at $US60 per pound ,U3O8 is selling at $A138,000 per tonne. So that every 1% U3O8 of ore in the ground has a value of $1,380. And it follows that every 0.1% has a value in the ground of $A138. So that THR could happily mine profitably uranium ore with grades as low as the above. Remember , every 1% is 10,000 parts per million, so that 0.1% is 1,000 ppm when THR report.

Hence, a discovery of even 500 to 1000 ppm in large tonnages would lift our THR dramatically. So keep your diner shirt ironed and ready. Conix