Page 40 of 54:
"Approximately 20km2 within the central part of this basin is prospective for potential economic, sedimentary uranium deposits. Of special interest is a scarp, approximately 1200m in length and 2.5 to 3m high that assayed between 29 to 374ppm uranium (11 assay locations) and averages 189.9ppm uranium. The latter is equivalent to an average of 223.8ppm U3O8 along the entire outcrop."
Although they have only just started drilling, this one large pod alone looks economic. As it is all at surface, those grades are economic because it will cost them very little to extract it and there is so much of it. And this is just one zone of many within the Lake Surprise Tenements... not to mention what is up at Springvale.
They still need to drill the Scarp Prospect out, but if it is consistent with what the initial results indicate, an educated guestimate might come up with about 5,000 t of U in that one 1200m pod. Lets be conservative and say there is only half that. 2,500 t = 5.5 million pounds. Lets also assume they only get USD50 per pound... = USD 275 million in that one single zone.
I am not going to speculate on share price, but I think holders are entitled to be optimistic.
PKT
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