Morning all.
@436hilltop Yes mate I notice that possible scenario could play out here.
I will admit that I grabbed this because I considered it to have some great potential.
After reading through some more info over the weekend, I realise I missed the boat.
Although I got some in the recent raise, one could have ( should have in my case ) grabbed a lot more over the last few weeks.
I make no complaint but the writing was on the wall.
33m SOI now increased to 38m. Now that is very low.
The mc just prior to the raise was ~$6.6m and now ~$11.5m. Still a very modest mc.
I looked at what grade other producers have using ISR method.
This is BOE and their Honeymoon mine.
620ppm
Beverley av grade is 650ppm with the same process method. Please correct me if I am wrong.
We all know what happened to the price of BOE with a mc of $1.55B
Here is the growth in new reactors to get an idea of how demand is looking.
Consider also that the current wind farms are not as efficient as they were expecting and while they are leaving a sour taste all over the planet, The alternatives are limited.
Nuclear seems to be the only real efficient power source with the lowest emissions. Which one do you think will become the preferred choice?
Methods have also changed over the years and the risks are now much lower than they were at the time of the previous disasters.
ISR extraction with much lower impact and much lower rehab costs.
Now let's have a look at what we are seeing at Orroroo.
Similar aged material with 650ppm peak and over a span of 5km.
Remember that these holes are now wells that were given back to the farmers for water supply.
They are PVC encased which could effect the U reading by 30% meaning that those current readings could be 30% higher.
This new round of drilling which has a very efficient rig capable of one hole per day, will give us results before Xmas.
I know that we have seen a 100% move last week and that C&H looks likely.
I do however think that we could have a much more dramatic move ahead given the potential of a new Paleo channel that has never been tested.
Well actually it was tested but really by accident or rather make shift method, until now.
I wouldn't rule out much higher SP incoming with drilling underway and results following rapidly after.
The fundamentals for a Uranium Renaissance, this time with more fire power than ever before could be more explosive than the last blast off.
mc $11.5m and 38m SOI?
What do you think?
I also find that researching the formation of these Paleo Channel wells shows how this Orroroo project could be sitting on another one that has been completely overlooked.
Kind regards, Wack.
(20min delay)
