Good to be caught up in a Sprott driven Uranium Bull market when we were all looking over our right shoulder and not the left - always comes out of left field.
In early 1970, Queensland Mines began costeaning Nabarlek, revealing visible deposits of pitchblende. One 76-centimetre (30 in) sample was found to contain 72 percent uranium oxide, compared with averages of 0.1 percent on some American and Canadian mines. News of the positive results soon leaked, and on 1 September the company's chairman Roy Hudson announced an estimated yield of 55,000 tonnes of uranium oxide at an average grade of 540 pounds (240 kg) per tonne. This sent the Queensland Mines share price to a peak of $46, up from $12 at the start of the year.[4] It was widely reported that Nabarlek was the richest uranium deposit in the world.
DEV Price at posting:
35.5¢ Sentiment: Buy Disclosure: Held
(20min delay)