u grades comparison ...

EXT: Best assays include:
4.5m @ 1.246 kg/t (1,246 ppm) U3O8, incl. 0.5m @ 9.597 kg/t (9,597 ppm) 0.959% U
2.0m @ 1.019 kg/t U308
10.0m @ 0.335 kg/t U3O8
10.25m @ 0.264 kg/t U3O8

The highest assay returned to date is 0.5 metres @ 0.959% U3O8 which is unusual for this setting, and clearly warrants more detailed follow-up.

Drill results seem to indicate an average of 0.05% U OR 0.5 kg/t – where Rossing is about 0.029% U OR 0.29kg/t - so appears better than Rossing grades.

Forsys Metals (TSX: FSY) has inferred mineral resource at Valencia (Namibia) of 32 million tonnes at a grade of 0.22 kg/t U3O8 (0.022% U).

(Another example of this trend is the Rossing uranium mine in Namibia, which has been opened despite a metal content of only a few hundred grams per ton of ore, while the normally accepted grade is about one kilogram per ton. Development of open-pit, large-scale mining of low grade fields, however, would have been impossible without some progress in the technology of ore upgrading, which prepares the minerals for processing.)

LH: Ore Reserve Estimate (Measured & Indicated) 32.2Mt of ore @ 0.07% (22,200t U3O8)

LH has 32.2 Mt of ore @ 0.07% U OR 0.7kg/t

So this initial 4 drill results show ranges from 9kg/t to 0.24kg/t with it seems an average of about 0.5kg/t just on eyeballing the results in the announcement. When EXT can get a JORC measured status similar to PDN then it will fly … heck of a long way to go yet.

SUMMARY

Rossing 0.22kg/t
LH 0.7kg/t
EXT: Husab (4 drill results) range 0.24 to 9 kg/t – rough average of 0.5kg/t.

In my opinion this will be mined. U price will continue to head skyward. EXT sp will eventually go upwards (like PDN’s taking into account shares on issue etc) though this is dependent on Kalahari merger etc. Current sell down? I’m not a mind reader … but can at least do some maths that appear solid for EXT. Maybe (not maybe) the results are not as good as was expected - ie a HUGE Uranium deposit has not been found on these 4 drill results. If 9kg/t was found in extensive proportions then Husab will be huge - but not looking like it from these 4 holes ... but still many more to come ...