namibia the uranium explorers paradise, page-28

Hi Fingermark

2 points:

1] Comment on Fedex' comparison with EXT, BMN, & ERN

EXT .. has a lot to come ..but resource is quite deep
BMN .. same deal, deap & also average grade - but large resource
ERN .. Shallower than the previous 2, but average grades too

So overall IMO WME stacks up very well against them! In answer to your question, a JORC resource as stated should see WME easily at $10.00 per MC/lb ... at the moment it is trading at $5.16 per MC/lb so a SP of 45-50 cents is a realistic target.

So points to consider about WME:

Fedex ir right, WME’s resource is low grade, but the prospectivity is still very good.

Drill data sourced from historical drills has reported higher grade holes including;
9.7 metres averaging 980ppm eU3O8,
8.1 metres averaging 500ppm eU3O8,
11.7 metres averaging 240ppm eU3O8, and
3 metres averaging 754 ppm eU3O8.

Remember to that this is VERY shallow: an average hole depth of approximately 15 metres for the entire drilling campaign.

Then we have the Trench sampling

With mineralisation in excess of 100 metres in width, and grades up to 1,005ppm (0.10%) U3O8 within the trenches.

Some results

Trench A1T2 60 metres averaging 540ppm U3O8 (including 5metres at 1,005ppm)
Trench A4T2 5 metres averaging 868ppm U3O8
Trench A4T2 80 metres averaging 241ppm U3O8, including 5 metres at 590ppm U3O8

Man they may as well just mine the trench with those grades! And because the resource is so shallow, the correlation between trench results & drill results should be very close.

Still way undervalued, but they must get some higher grade hits to mix into the resource

cheers