Dev on 43-101 resource estimate for PLS DR: The key is it’s so shallow. Lots of other people have high-grade deposits, but (PLS) is so shallow and so it’s a trucking operation.
That’s why we feel such a pressure to develop this as fast as we can before someone makes an offer for us. I wouldn’t think it would happen before we had a 43-101 done. But the market gave us $13 million at $1.50 and the stock is at $1.01 today.
We got lots of money at a high price and we going to spend a lot of it this winter. Our goal is to show that it’s one zone, that’s it’s a rope of uranium and not a bunch of pods.
TNM: When could that resource be calculated, do you reckon?
DR: We’re going to have a winter program and then a summer program. There will be a gap in there, so we hope to have a 43-101 in the fall, if we’re still around. (Northern Miner excerpt - Jan. 7, 2014)