u3o8 signs hoa on argentinean uranium project, page-4

......aaaaand that are the reasons WHY, we could learn
fm todays PR:


U3O8 Quarterly Report for Period ended 31 December 2011

Fri, 13 Jan 2012 13:19:00

Quarterly Report for the Three Month Period Ending 31st December 2011 ASX CODE: UTO

HIGHLIGHTS

Diamond drilling continues on Olary Creek iron ore targets. A total of 18 diamond drill holes have been drilled in this programme by the end of the Quarter. Diamond drilling will continue at Olary Creek in January 2012, with a further 20,000 metres of reverse circulation and diamond drilling planned for the first half of 2012.

U3O8 Limited signs a Heads of Agreement on the Sierra Cuadrada Uranium Project in Argentina. The Company continues to pursue quality projects in Australia and South America. Regional geochemical sampling has identified a new significant silver anomaly on the Saltwater Pool JV with stream sediment result over 100g/t Ag.

Company receives the hy-logging data results from the cored drill holes completed on the Ashburton Joint Venture earlier in the year. U3O8 Limited has $5.25 million cash in the bank at the end of December 2011. ? ? ? ? ? 1 U3O8 Limited Level 3, 33 Ord Street, West Perth WA 6005 Telephone: (08) 9481 2243 Facsimile: (08) 9321 0070 Email: [email protected] Corporate Exploration at Olary Creek in South Australia has been ongoing with diamond drilling continuing until late December 2011, and recommencing in early January 2012.

Exploration of a reconnaissance nature continued on the Saltwater Pool Joint Venture, where further samples with gold and silver anomalism were returned. The Company has focused on the acquisition of quality projects in Argentina targeting both uranium and gold/silver mineralisation. To this end, the Company signed a Heads of Agreement on the Sierra Cuadrada Project with Canadian based U3O8 Corp, an unrelated Canadian listed uranium exploration company with projects in South America.

The Company is also progressing other discussions on a gold/silver project in South America.

U3O8 Limited has $ 5.25 million in available funds as at 31st December 2011.


....sounds incredible that under these facts we´re act.
facing a MC of only maud 8,-......but is the truth !!!

dont expect for a loooong period anymore

brgds hbg55