options being bought at 0.5, page-4

From an earlier p[ost:

"......... AGS and the 4 Mile Hill Project.

However, points to consider:

1. AGS is only a 25% interest holderr in the JV (which at times seems a very strained relationship from what I read - see p11 AND p41 of their recent presentation) - recent ASX announcements suggest potential land rights problems too....;

2. The mineralised zone at 4MH is much deeper - often 3 times as deep!

3. The resource at 4MH now stands at 61m lb INFERRED. AGS share is 15m lbs.

USA has 100% of 6m lbs. inferred resource at Blackbush (grading 210ppt ish vs. 350 ish at 4MH but note depth factor) and Plumbush has every chance of being a bigger resource (no JORC numbers yet) at a higher grade 300-400 ppm - matching AGS.

So there 'could' be - just including the existing Bluebush resource (6m lbs.)and the Plumbush prospect
(9m + lbs potential), 15m lbs.

Same pounds as AGS (potentially). And no hassles with a big brother JV partner!!

Not to mention that higher grade hits have been recorded several KILOMETRES AWAY to the NORTH and to the SOUTH - from the release of 20th August:

"drilling 5.5 km south of Blackbush has returned a best intercept of 12.9m @ 290 ppm eU3O8, including 5m @ 580 ppm, with a peak grade of 2,322 ppm (MRM098)"; and

"drilling 2 km north of Blackbush has returned 5.6m @ 470 ppm eU3O8, with a peak grade of 1,290 ppm (MRM101)".

[Noting that the Plumbush mineralisation rolls into the SRZ JV which USA has a minimum 70% interest.....]

4. AGS will still have to stump up their share of the capex.

5. AGS market cap - $225m

USA market cap - $23m

6. To the other poster who canned USA because a significant number of the holes were barren - understand the size and distances we are talking about here - they have admitted they are still getting a handle on the geology yet they still justy managed to discover a potentially exonomic resource at Plumbush."