re: uranium bulls buying. gold bugs selling
We could be waiting for a resource estimate for quite some time.
Why? Because this deposit is very large!
If a 50m drill spacing is used for the JORC Estimates (which is quite far apart) If the deposit ends up being 8sqkm. They will need 3200 Drill holes
The drill hole they announced the other day 13.5m @ 0.44%
A 50m x 50m square of that grade is worth $3.76m A 200m x 200m square is worth $60m A 500m x 500m square is worth $376m 1 sqkm is worth $1.5b
Because the deposit is massive. Don't expect a JORC Report anytime soon.
This is a very big deposit.
Then there is the equaly massive radiometric anomoly to the south that has not even been drilled yet. The M2 Copper Gold Uranium Target and Maldon Gold mine.
In my opinion this is the best Uranium play in Australia.
AGS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
