New update:West Australian Metals presents 15 m. pounds in the...

New update:

West Australian Metals presents 15 m. pounds in the Marenica licensed territory under the direction of West Australian Metals project leader Leon Reisgy, who also happens to be the technical leader of the business concurrently, as well as a very cautious man.
He would never offer up pure speculation or jest pull a good sounding prognosis out of thin air that would thus later force him to back pedal when he could not deliver under certain conditions. His cautious disposition is also to be found in the now public—and long awaited—JORC study. There were however a few adjustments made that are at least deserving of an explanation.

The JORC- overpass of the uranium quantities of the previously carried out Gold Fields drill samples refers to any three areas of core areas 1 to 4. Area 4 did not at first count at all in the JORC calculations. The cut off was furthermore augmented, thus bringing the determined value of the marginal quality of the rock’s uranium concentration up to 110 ppm (part per million.) The yield is automatically a lower quantity, so from the start the quantities will be classified as valuable for mining. My estimation of 17.5 to 22.5 m. pounds was truly surpassed by the JORC study (so around 23 m. pounds would have been the result), in any case, using my criteria like a low cut off and including area 4.

Using West Australian Metals’ basis for calculations yields a quantity of 15 m. pounds, thereby drawing Reigy’s attention to the fact that in addition, there are around 2 to 5 m. pounds of extra uranium that should be found at the corresponding drill depth.

Moreover there are about 100 m. pounds of Uranium for Marenica
What is really important is that these 17 to 20 million pounds of uranium in the Gold Fields areas refer exclusively to the uranium that is situated at this drill depth.

Directly underneath the weather-beaten surfaces, there are additional stores of 35 m. pounds of uranium that I have already mentioned that did not go into the JORC study, nor could it have. Some additional 40 to 50 m. pounds of uranium are to be expected in the south east of the licensed territory (area 6) because of the already finished evaluation of the alpha cups, the drilling programme is also currently taking place in this area.

I expect another further 10 m. pounds of uranium in the north, heading out of area 6, at the edge of the eastern border of the territory. The alpha cup filmstrips that have already been sent to a laboratory are bringing in renewed more exact information that will probably be available and evaluated before Christmas. The complete westward orientation of the licensed territory as well as the possible primary deposits of uranium in the Alaskite Domes have been relatively unknown until now. Please keep this in mind: 20% of Marenica and the corresponding counter value do not belong to the West Australians but rather to a local Namibian partner.

Summary:

At first sight, a figure of 15 m. pounds of uranium looks disappointing in light of a previous margin in the amount of 14 to 22 pounds, however this figure does not suffice along for a reasonable indexing. The JORC value is now no longer comparable to the originally considered bandwidth, namely due to the changed parameters. This margin will even be abandoned when this condition is allowed for, then the results will even be above the optimistic expectations. The West Australian Metal stock remains therefore a good buy.