That Namibian tenement renewal delay was supposed to be possibly...

That Namibian tenement renewal delay was supposed to be possibly up to 6 months, but the 6 month processing delay has passed & still no news!

No news means bad news? We heard that some tenements applied for last December took until May this year to get renewed - 6 months. But, I would've thought a "processing backlog" would have got shorter rather than longer with the passage of time.

But, as I understand it, MLS fulfilled the requirements for tenement renewal - no issues outstanding.

So, they should get it. And fulfilling the tenement exploration requirements did seem to bring up some respectable U results. Worth a drilling program.

It has been suggested that MLS wouldn't have the "wherewithalls" to fund a U mine. But at least MLS is in the fortunate position to have $4M+ cash, so it can easily fund the next stage of exploration (drill testing of a portion of the ground).

If this was successful, & the good values were open to warrant additional drilling, there's money for that as well.

If U values are good (250 ppm U average) over the initial planned drilling of 6 km2, & to a depth of 2m, then you have 12M pounds of U. A respectable amount of U (I've shown the calculation previously).

And if the planned phase 1 drilling to 20+m depth into the primary source rock brings up similar reasonable (250 ppm U), then you'd have 120M lbs U - but we might be getting ahead of ourselves .......

Anyway, 12M lbs U @ ~ $40 / lb = ~ $500M in ground value.
Savagely discount/dilute that away to, say, 4% & you get 3c/MLS share. Obviously, if the U values continue down into the basement rock, then you could argue 30+c/MLS share.

If 6 km2 is just for starters, or the grade averages > 250 ppm, then .......

I must have convinced myself, I bought a few more.