GREY:ESOFD - Post by User
Comment by
Tinmannon Dec 04, 2012 12:10pm
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Post# 20681125
RE: RE: last 12 days
RE: RE: last 12 days For me, my goalposts are between 1% to 5% U308 in these holes. As you say, 1% U308 at that depth would be more than enough given how low the strip ratio will be here. Personally, I think the market is fixated on a 5% U308 number (to compare with HAT's first hole), but time will tell. I will point out that 5% is more like a "out of the park homerun" run at this depth. 5% rock is over 100 pounds of U308 per tonne, which even at today's spot price would be worth over $4,000 per tonne. If you think the longer term uranium price should be in the $70-80 range, then that's $7,000-$8,000 per tonne! That is simply wild if there is any size at all to the deposit. Given what they have said about the core, the size of that boulder field, and what the geophysics is showing, I think there is a very good chance that this could be big. To each his own, but i'm happy with 1-2% U308 -- anything more would be a sweet bonus.