"Does anyone know if indeed those 160 odd million options expired as that adds quite a bit of shareholder value back?" wipeoff
Wipeoff, no filings from the company in respect to the issuance of new stock suggests the options have not been exercised or at the very least, there is a delay in processing...
"But that would equally apply (ie a continued moratorium on new licences making existing tenements potentially more valuable) to the much better-explored areas held by Deep Yellow, Marenica and Forsys Metals.
Until more and detailed drilling results emerge we won't know whether Metals is on to anything or note. Remember Xemplar? Seemed to have a good thing going at Warmbad in the south but the grades just weren't there." RangeFinder
Rangefinder, from memory , based on my earlier reading of the Namibian Mineral Act, the EPL's can be renewed multiple times at the discretion of the Mining Commissioner.
"What would be a good indicator for Mile 72? Well obviously we need to wait some detailed drilling results- two or three to demonstrate consistency and grade- and then metallurgical studies to show whether the type of ore is amenable to acid leaching, recovery rates etc." RangeFinder
RangeFinder, I am not losing any sleep regarding metallurgical testing. The ore is apparently very similar to the Rossing / Husab deposits and therefore should not present any major hurdles. The proof is in the pudding but at the end of the day grade is king, with tonnage a close second. Hopefully, we can tick both boxes and we will be away....I am also pleased to observe that the U mineralisation (so far) appears to start close to the surface. This should help improve the project economics from a CAPEX and OPEX point of view because there is less overburden to move before you hit paydirt. If you look at Extract, most of the deposit is under hundreds of metres of overburden....
Cheers.
MLS Price at posting:
1.8¢ Sentiment: Buy Disclosure: Held
