I noticed this from the MINERAL ENERGY & TECHNOLOGY Annual...

I noticed this from the MINERAL ENERGY & TECHNOLOGY Annual Report:

“In 1976 we hired W. Dean McDougald, Geological Services of Moab, Utah to quantify the uranium deposits on the property (Rio Puerco). Using data supplied by Kerr McGee they calculated 1,719,787 tons at 2.19 pounds U3O8 per ton for 3,765,838 pounds available from Sec 18 and 201,684 tons at 4.07 pounds per ton for 821,962 pounds U3O8 available from Sec 24. Sec's 17 and 20 adjacent to Sec 18 also have a calculated 101,093 pounds U3O8. (Total: 4.7 million lbs) We have records to show that other sections adjacent to our properties have drilled out deposits that could be considered tributary to our shaft if and when the price of uranium warrants the production of these deposits. None of these deposits are economically producible at this time. The current price of U3O8 at November 30, 2004 is $20.50 per pound. It will require at least $30 per pound, or a subsidy from the purchaser, to make these deposits commercial by underground mining methods.”

Add to this 2 million lbs from Apex/Lowboy – Plus 500,000 lbs from the new Smith claims = a total defined resource of 7.3 million lbs.

Notice too that they “require at least $30 per pound, … to make these deposits commercial” We are well past that so this is a very commercial project now!!!

cheers