weekend australian article, page-14

Freestyler....


"Resources of the deposit were upgraded during the Half Year to;
A Global Inferred Resource (using no lower cut-off grade) of 3.8Mt at 0.098% U3O8
Within this overall resource (not additional) and using a lower cut-off grade of 500ppm U there is a high grade core of 1.02 Mt grading 0.4% U3O8 .
This equates to 9.16 million pounds (Mlbs) of uranium oxide.
At the current price of A$95/lb U3O8 the CTS equity (80%) has a theoretical value in-the-ground of A$695,000,000!!!!!!!!!"

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OK....


9.16M lbs / 2.2 = 4.164M kg

4,164,000 kg / 1000 = 4164 tonnes

So, according to the half yearly then, the resource at 500PPM cut-off is 4164kg.

Not bad for it's market cap....but still not the massive resource I keep reading here.

Think I need to read up a little on the history of the Peruvian mining industry now, and similar relevant issues.

The extract from the half yearly you have pasted also stated.....


"
It is emphasised that there are many steps yet to be taken before the company can consider feasibility studies for mining options. The first is to conduct ‘definition drilling’ to outline a Measured Resource followed by, or in tandem with, metallurgical
test work, further exploration drilling, engineering studies, a radiation management program, environmental and community programs and all statutory regulatory authority requirements."



With a cap raising seemingly likely soon, and drilling to define the resource, I would think that shareprice appreciation might still be a little way away yet.

It doesn't seem a bad investment...but I might just wait a little bit and let my capital work elsewhere just for now.

Good luck to holders

Cheers