may 25 announcement: my take

Good morning all,
I’ve been busy around the mining scene, however I have recently reviewed the May 25 announcement. Unfortunately I have not had a chance to read all the HC member comments relative to this, so forgive me if my comments are ‘more of the same’ nonetheless here is my take for what its worth:

Firstly, the drilling news is very good provided the assay results come back with reasonable levels of measured U within the ore intersection

i) The 80-100 metres (alaskite) formation ‘at depth’ is a big intersection.

ii) Chalcopyrite is usually a good quality primary copper ore. (Kalahari shareholders will be pleased to hear this)

iii) The presence of Uranium within the drill core has been confirmed by spectrometer signals within all 3 holes (HDD001, 2, and 3)

iv) Peter McIntyre states ; they will have assay results completed by 2 different methods, XRF and Acid Leach, and in several laboratories in South Africa and in Australia. This is obviously to validate results.

v) An appropriate tool will be secured to validate laboratory assaying by “down-hole radiometric logging of completed drill holes’. This will provide further U measured data (imo for further analysis and future ore modelling purposes). This is a very positive statement/step, one would not normally do this at this early drilling juncture unless you are very confident.

Also remember, this is only the first 3 holes. It is worth noting that the current drill target area has a strike distance of “Over 4 kms” (refer announcement April 10, 2006) The other point to keep in mind, this is only the first drill target on EXT's 550 square km area of largely unexplored U land.

My conclusion: Great progress so far and its all good. EXT management would not be going to this extent and the expense they are, if they would not be confident there is something of substance there.

Early signals of pending good news will be reflected in bursts of large share volumes and steady accumulations on good volume. I think we are seeing some of this now.

Fingers crossed for good laboratory results and if they are good, enjoy the ride.

Cheers
Zackman

Ps, Nobby!!! congratulations, you will now have someone to drive the Porsche
in your old age. Well done !!!

Information source: EXT Announcement May 25, and April 10, 2006. As always readers!!, you are responsible for your own investment decisions so take the time and do your own research, and please return the favour by sharing your thoughts with us.