Some good information and results have come out with gold and silver in the Ashburton and lots of similarities to the 40 million ounce Homestake mine in South Dakota. The specialist consultants have said it looks exactly the same, so good prospects for the drilling in 2012.
Sounds like there are some great properties coming into the pipeline from South America, commonly regarded as the new hotspot for gold and uranium in the world. It's been the hotspot for gold and silver for a long time, and will remain that way.
Drilling has been progressing well, but slowly on the iron ore at Olary in South Australia, and apparently the JV partners want to add a further 10,000 metres to the programme. Even though no results have been released, which seems to by a problem with UTO's JV partner, they are obviously getting good results to want to extend the programme so much. Seems to be higher grade than a lot of prospects in the area.
UTO Price at posting:
8.9¢ Sentiment: Buy Disclosure: Held
