kev wills talks about massive fe target, page-11

thanks sellier,


WVL's 79m t of proved and probable reserve with an estimated 20 year mine life with a V205 content of .46% compared to the MXR 16m drill hole containing 1.2% of V205 makes the MXR value look pretty good from an initial comparison point of view when trying to identify a forecast value of MXR. It indicates to me that we may a better potential resource than WVL ( even though it's just one drill hole).
WVL has 140.7 million shares on issue as of feb 08 with a close yesterday of $2.15 for a market cap of $302.5m which is up from WVL's feb market cap of $257m when their share price was $1.83.
If the further drilling MXR does has similar Vanadium content we have a 100% higher Vanadium content plus whatever tonnage is identified. Not bad for a company with a share price at the moment of just 14.5c and a market cap a fraction of WVL's ( how many MXR shares are on issue?). Add in the 44% Fe in the same drill hole and the MXR gold (JORC) plus other assets and where will MXR share price and market cap go to as the Vanadium is proved up?
I think that any future announcements on the vanadium content and tonnage and drilling will be price sensitive and the report that has been advised will come out tomorrow should be good for the MXR share price.
Kev Wills talked about the target being a 4km by 1 to 2km wide vanadiferous magnetite under the gravity anomalies which sounds to me to be potentially massive in tonnage terms.....watch this space.
This is a good time to be on the share register I'd suggest.

cheers and happy days ahead, fatstocks.

Sellier, your earlier post below....

"hi fatstocks,
you might remember the E-mails I sent to Gary Maddocks in the past week. Gary Maddocks mentioned that WVL's ferrovanadium is partially oxidised (average grade of 0.46% Vanadium ) and if MXR is able to prove up some 1.0%+ Vanadium concentrate WVL will be strongly interested in our Canegrass tenement as they need that kind of Vanadium.

If you look at that tasty 16m drill intersection with 1.25% Vanadium you'll realize what that could mean to MXR's shareprice."