GREY:STHJF - Post by User
Post by
YoungRichon Feb 03, 2007 4:37pm
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Post# 12155873
Released Numbers are Conservative!
Released Numbers are Conservative!... and the Resource Summary on the Company's website is VERY conservative.
But anyhow, not listed on the News Release but can be extracted from Project descriptions on the Company's website are the followings:
1. Dieter Lake potentially contains 110mm lbs U (not just 24.4mm lbs). A 5,000 m drill program is planned for spring/summer 2007 to verify this.
2. Excellent potential for ANOTHER DOUBLE to Church Rock's current resource number through addition drilling.
3. Chord has " an additional potential of 11.8 million lbs U3O8 inferred for a total resource of 15.6 million lbs U3O8 ".
4. And I'm not too sure what to make of it, but under the descriptions of Powder River the last sentence claims "...historical estimates suggests a potential resource in excess of 15 million pounds."
Now, with the propose Spin Off, STM will be able to speed up explorations and developments in Canada, while sharing the costs/risks with other companies (do what Explorers' League Honorees do! Even Cameco and Denison do JV's, see Cigar Lake and Midwest mines).
STM will still be keeping more than 80% of the current listed uranium deposits under our direct control, because most of the Proven, Historical, and Inferred resource numbers are for US deposits. Canada targets are mostly exploratory in nature and, again, it would be VERY wise to share the costs/risks with other companies if possible.
Also, the propose expansion into Texas with Yellowcake Mining should prove interesting to watch.
Good luck to all those who did not sell their shares and going long on Strathmore ...