This is why RAU is so exciting. There are very few Western tungsten players around. There are very few ASX listed tunsgten players.
Tungsten is set to boom with a significant shortage being predcited in coming years ... it is already up about 300% in price.
Now throw in RAU's tungsten projects ..
1. RAU have given very indication that Mt. Carbine is a goer for them. Management will be holding a meeting the day before the AGM to decide upon purchase.
2. RAU's substantial land at Whumbal West surrounding Vital Metals with RAU being in the fortunate position of having the data base to BHP's exploration years ago on Vital Metals' property which enables a comparison with what RAU is turning up ...
In view of what RAU has already publicly said about RAU's Whumbal West prospects based upon a comparison of their early stage exploration results with those of BHP, all we need is for positive drilling assay results to come in for RAU at Whumbal West and I believe in the current market environment RAU will be capitalised on the assumption that what RAU have at Whumbal West will be much larger than what VML have.
We already know from the 2/11/2007 ASX report of:
"VISIBLE TUNGSTEN MINERALISATION AS SCHEELITE ENCOUNTERED AT WHUMBAL WEST
The drilling is targeting geochemical highs from the extensive soil sampling and geological reconnaissance programme carried out over the past six months. As previously reported, quartzscheelite mineralisation was visible on the surface when it was ultra-violet (UV)- lamped at night.
The drilling, and attendant UV-lamping, is confirming that these surface expressions of quartzscheelite mineralisation are extending to depth. Scheelite is the dominant tungsten mineral at the near-by large Watershed tungsten deposit owned by Vital Metals.
The Whumbal West prospect lies proximal to two granite bodies, considered the source of the mineralising fluids for the prospect. Mt Carbine is proximal to just one. The Company considers that the virgin Whumbal West area is geologically significant and that the current drilling, over a strike length of 1,200 metres, has indicated that the prospect has the potential to produce a significant body of tungsten mineralisation."
BIG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
