interesting to see that WME has so-far missed out on the uranium boom with their uranium tennements so close to that of Rio Tinto and Paladin in Namabia.
Although it is early in the exploration phase they are talking about proving a JORC resource of 18 million pounds of uranium by years end and that is contained only in a section of the tennement previously explored by Goldfields back in the 70's.
Using modern exploration methods and expanding the search they could well be sitting on a large tonnage of uranium ore although as yet only reasonably low grade, but on the up side the phase to exploration showed some nice grade increases to the west of the explored zone of over 1000ppm.
With drilling only recently restarted on previously explored areas in the tennements which accounts for less than 30% of the tennement and being within such close proximity to Rossing Uranium Mine (Rio), and Langer Heinrich (Paladin) it certainly looks like it could have some upside of the coming year with increased exploration focus looking to shore up a JORC resource before years end.
The August 08 options are trading at 15c and may be worth a punt with plenty of time till expiry.
Anyone else have a view on why it has seemed to fly under the radar and do you think the release of the latest 2500m of drill assays due in the next two weeks could draw attention to the uranium potential of WME?
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