market cap , page-4

Sorry that should read:

"It has now overtaken MTN ($3.76 MC:lb) as the cheapest U stock on th ASX"

Some good reading:

Paydirt
March, 2007
WILDHORSE ENERGY SETS A FOUR-YEAR TIMEFRAME

Within a space of two months, uranium development company WildHorse Energy Ltd has set a timetable of four ears to be in production. At a briefing late in January, managing director Richard Pearce told Paydirt the company aimed to have three projects at feasibility stage within two years of listing, and two projects at decision to mine within four years.

However, the projects will be in the US and Europe. These two areas have been selected as WildHorse believes they will remain the major users of nuclear power over the next 25 years. In the US, WildHorse has two projects in Wyoming in the Great Divide Basin, within the Continental Divide: the Sweetwater project and the Bison Basin project. In Hungary, 170km south-south-west of the capital Budapest, WildHorse has three projects in the Western Mecsek Mountains in the south of the country: the Pecs, Dinnyerberki and Bataszek projects.
Pearce said that to achieve its goals Wildhorse has established offices in Rawlins, Wyoming, and Budapest, to co-ordinate its activities.

Our objective is to have 45 mlb of JORC uranium oxide resources; three projects at bankable stage within 18-24 months, and at least two operational uranium mines within four years," he said. Asked why the focus was on the US and Europe, Pearce said the prime rationale was to be in countries that were pro-development of uranium mining, and where there was a big demand for nuclear energy. Wyoming had been chosen because it was a major energy-producing state in the US, and the historic centre for uranium production.

In the past year, WildHorse had staked about 2,626ha as part of the Bison Basin project which has a resource of more than 20 mlb of uranium oxide. WildHorse plans to complete a scoping study this year to allow it to start a feasibility study as soon as possible to bring it into production in 2010.

The company's other Wyoming project is Sweetwater where resource definition has begun. Pearce said WildHorse is targeting a 10 mlb uranium oxide resource. "A big advantage of the Sweetwater project area is that our claims are intermingled with those owned by Rio Tinto plc and its mill, the largest licensed facility in the US, is nearby." WildHorse is planning a comprehensive drilling program of between 3-400 holes to enable definition of a JORC resource by the end of the year.

Referring to the Hungarian project, Pearce said WildHorse had a big ground position covering 420sq km taking in four projects – Pecs which has a total resource of 70 mlb (40 mlb in the Reserve category and 30 mlb in Resource with 2-30 mlb on WildHorse ground) Bataszek, Mariakemend and Dinnyeberki. Resource definition at Pecs is targeting 20mlb of uranium oxide using existing drill hole database with a scoping study planned for this year.

Pearce said that with the Bison Basin project, WildHorse could be rated as a near term producer within 18 months. He added that another major plus for WildHorse Energy was that its board was made up of directors - Mark Hughes, chairman, Bruce Larson, non-executive, and himself were ex-Rio Tinto executives and Henry Neugebauer, ex-Chevron and technical director - all had uranium exploration, mining and marketing experience. "The other good thing is that we have had Australian shareholder support from Day One. This support has also come from institutions like Macquarie Bank and AMP."