In fact being cynical, we could take it as a gain for the day!
My reading of this with a "bit" of mining background is that
1. Recovery will be much easier of course because it is not hard digging and therefore very "cheap" to extract.
2. Adding a solution for ease of transporting as a slurry is a given in the industry and very accurate costing is easy to model.
3. The initial testing for extraction showed a 90% recovery which if can be converted to a full blown processing plant would be exceptional
4. The cut off grades and, the high percentage of the overall recovery of "significant" grades of uranium again, makes modelling of a commercial processing plant much easier.
5. The fact that they are dealing with Tailings Dams and not still trying to prove up ground puts them a long way ahead of any greenfields project doing initial evaluations and therefore, with not much else required from Professor Watling, this could be an early cash flow project.
I therefore see the fact that all the work has been done on a Proposed plant being a huge positive and, it is likely to be fastracked.
I am always positive about things as my posts will show, because I do not like getting into something I cannot recover from, (hasn't always worked mind you), nor, with some chance of making a reasonable return. I have always seen in this stock a huge upside and in particular, I identified with the Tailings Dams as setting it aside from all other prospecting stocks.
I am hopeful of this being a big winner, as do my friends!
Good luck
NMR Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
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