IMHO an important step forward for PMH Sentinel project is some metalurgical test work to see what cost effective options there are for extracting the Uranium, Molybdenum and Germanium. Lets leave aside any value in the lignite/coal for the moment. Using the PMH quoted price of $1000/kg for GeO2, lets say $60/lb for U3O8 and $30 for Mo. My "back-of-an-envelope" calculation taking grades of 100ppm GeO2, 1000ppm U3O8 and 1000ppm Mo, tells me this ore has a gross value circa $280/t, truly a potential "gold-mine" even allowing for some expensive metalurgy. Also IMHO the issue of the future development of Ann Mason is in the grip of global financial trends and I can see little effect coming out of any upcoming resource tinkering just now. I think the firming up of shallow oxide copper reserves at Blue Hills and around the total AM property would do much more for PMH med term value than minor enhancements to the major AM resource.
PMH Price at posting:
24.0¢ Sentiment: LT Buy Disclosure: Held
