todays australian

GLOBE'S pronouncement of a "greenfields uranium discovery" in Malawi was enough to send the share price racing up 34 per cent yesterday, but maybe it's premature to dub it a discovery as such.

Globe reported the results of 190 soil samples and 50 rock chip samples at its Kanyika project in central Malawi.

The rock chips sampled up to 2909 parts per million (0.29 per cent uranium oxide content) while the soil samples peaked at 482 ppm.

According to Criterion's consultant geologist, the results show promising anomalies indicative of interesting things underneath. "But it's gilding the lily to call it a discovery."

Globe chief Mark Sumich says the numbers are "in excess of expectations", and reasonably consistent across the 2.5km area.

"We are very encouraged and excited about the results," he says. The next step is trenching, detailed mapping and sampling, followed by drilling of the high-grade zones.

With cash of $3.8 million at the end of the September quarter, Sumich says there's enough dough for this work. A swag of 18 million options are exercisable at a strike price of 20c next October and should bring in a further $3.6 million.

Criterion rated Globe a "speculative buy" at 45c on September 29. Those who heeded our erratic counsel might want to take the 50 per cent gain and run. We'll settle for a HOLD pending further drill results. Also, Globe is due to report results from its northern Malawi project, Livingstonia, in the next couple of weeks.

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the Australians geo says
'shows promising anomalies indicative of interesting things UNDERNEATH "

Lol that some thought , by their posts, that this sampling was the whole drill schedule...pack up and go home..lol..only part one of a perhaps many act play.The real interest now is on the NEXT set of results .

Livingstonia results in 2 weeks