where is the thorium, page-4

re: r33skyline... do the maths..it looks bad!! Your Post:

Are yes this is the article i was looking for !


It would appear the report made in 1978 about the Hakskeen farm is not in agreement with Dr Steven - it
concluded high levels of carnotite...........

"Carnotite mineralisation appears to be
surface accumulation confined to the northern
side of a wide calcrete basin. A fair proportion
of this mineralisation occurs in gypcrete which
accounts for the prominent surface radiometric
anomaly. The proven ore reserves are 361 250 t
of U3O8 at 331 g/t (Johnston, 1978)."


Firstly 331 g/t U2O3 is a very low grade it is 0.03% U2O3.... That is patently not high levels of Carnotite mineralisation Langer Henrich averages 0.1% and it is a pretty low grade U deposit .... It has been know for 20years and has been marginal until recent strength in the U2O3 price. The grade at Rossing is lower than Langer Henirich at about 0.05%. However, the ore body widths and bulk mineable nature of the ore offsets the crap grade.

Secondly how much U2O3 is in the Hasbeen reserve at Hasbeen....... It is 331grams/ton x 361,250 tons = 119,573,750 grams of U2O3
or
119,573 kg U2O3
or
119 tonnes of U2O3

To put that in perespective that is about 1 months production from the proposed Langer Henrich Mine.

It has an in ground value before extraction costs of.....drum roll.......
USD5.76 million about 6% of the Capex need for Langer H.

Don't fool yourself RTM has a long way to go on the exploration front to justify present Mkt Cap. Not to mention the damage to the companies credibility when they trumpetted all this as a "NEW DISCOVERY" when it had been know about since the late 60s early 70s when costs were less and Uranium prices were far higher.

Undoubtedly you might make some money trading but over the medium to long term you will be burnt. RTM would be fair value at about 4-5 cents.