With I88 it is lottery ticket buying essentially. But as the company has stated, they dont know whether the source is proximal or distal. Hence the drill could hit or miss. And then what happens to their SP on a miss ? I wonder if its alluvial ? did some high grade source from the adjacent above mountain just pool it there ? and nothing beneath it. - or was it from some lower source venting ? or maybe they are indeed over a locally enriched source rock. You just dont know. And the risk is in the drill bit.
Also, there are only a small number of active uranium mines in canada, what does that say about permitting times ? Yet there are 10 or so in Kaz, just in the region we are. So the number is even higher.
First you want to find an economic deposit, then you need permits to mine it. If you actually make a bet, on all the necessary risks to get to mine it, then eventually the winner will stand out.
There are so few places in the world, with both high grade, and permit friendly. Kaz has to be at the very top, and if we are getting access to blocks in trend from the biggest soviet mines, then giddiup. But be patient, as the company has to wade through data and the natural process to spread its wings there. Their costs are around half of that in WA, so makes our $$ go further as well.
Making bets and being patient for us, is the easy part.
C29 Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
