guesstimat of massive tonnage at erongo

IMHO the U spec market soetimes gets itself into a complete fizz. ERN is a perfect example (at this stage).

Area 1 (current drill target) is marked out at 1,800 x 1,000 x 65 m (deepest u interesction so far). In tonnes that target equates to 292,500,000 tonnes (density of 2.5 t/cubic meter). Assuming that one third of this depth and width is u mineralized and taking .57 pounds of u per tonne (very unscientific, but i took all of the u assays from yesterdays report and averaged them).

We get a potential "target" tonnage of 97,500,000 @ .57 pound = 55,575,000 pounds of u potential.

ERN already has data indicating that about 800 x 250m x 30m is mineralized from a drilled out area. Assuming .57 pounds per tonne u = 15,000,000 tonnes @ .57 pound u/per tonne = 8,550,000 u potential.

These calculations are rough estimates only, but they are indicative of the potential of Area 1. There are at least five other major targets on the ERN leases. At current valuations ERN would be a very strategic fit for a major U predator looking for large tonnages of u. The property is open pittable and can be fast tracked to production. A rarity in a time of u shortage. At US$138 pound and at my assumed average grade each tonne would produce US$78.66 / A$96.00 of u.

Any comments?