The Uranium One deal announced today is very significant for...

The Uranium One deal announced today is very significant for White Canyon. White Canyon until this acquisition had a mine life of 4 years at 500,000 lbs production per year.

Based on the historic drilling results in the 1970's and 1980's , White Canyon has just added over 2.2 million pounds of ore (doubling its "reserves") being:

Hideout and Charlie Mines 864 844 pounds;

Red Canyon 1,224 730.

The historic resulkts have been shown to be conservative in the 44 drill hole program conducted by WCU last year which returned higher grades with more advanced equipment than achieved in the 1970's historic figures. Yes they are not actual reserves but there is no reason to doubt official USGS govt data on actual production, grade and resource levels achieved in the 1970's and 1980's.

It would seem people are asleep this morning on the ASX .. wake up this is very significant.

Why did Uranium One sell ?

Because it does not fit their overall strategy, the deposit does not work easily with their other assets;

Why did WCU buy ?

Because expansion of White Canyon's resource base is key to increasing mine life, and because the Uranium One acquisition fits very neatly with White Canyon's exiting tenements.

Mine life has now doubled .. this company which has done more than any other junior uranium outfit (moving from developer to producer in just 2 years after listing on the ASX is on its way to move to much higher capoital value.

So my sentiment is to buy ..