far east capital review

WMT has proved that it has significant uranium bearing structures in
Tanzania. It is now in the processes of qualifying what it has. Whilst there are some high-grade
zones, the significance of these in a mining situation may not be enough to lift the average
above 500 ppm. By the end of this year we should know better whether there is a consistent
structure that may be mineable, as opposed to ground with plenty of good trench and drill
results. Making it all hang together in a mineable orebody is what it is all about.
The diversification into the copper/zinc project in Wales is likely to see WMT graduate to the status of a legitimate miner faster than one could expect with the Tanzanian uranium projects,
and it requires a different perspective. The Company will now have to demonstrate that
project’s economics to the market, as it will consume all of its cash, and some.