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Appia Rare Earths & Uranium Corp V.API


Primary Symbol: C.API Alternate Symbol(s):  APAAF

Energy
Appia Rare Earths & Uranium Corp. is a Canadian company in the rare earth element and uranium sectors. The Company is focused on delineating high-grade critical rare earth elements and gallium on the Alces Lake property and exploring for high-grade uranium in the prolific Athabasca Basin on its Otherside, Loranger, North Wollaston, and Eastside properties. The Company holds the surface rights to exploration for 94,982.39 hectares (234,706.59 acres) in Saskatchewan. The Company also has a 100% interest in 13,008 hectares (32,143 acres), with rare earth elements and uranium deposits over five mineralized zones in the Elliot Lake Camp, Ontario. The Company’s projects include PCH Ionic Adsorption Clay, Alces Lake, Elliot Lake, Loranger, North Wollaston, Eastside, and Otherside. The Company holds the right to acquire up to a 70% interest in the PCH Project which is 40,963.18 ha in size and is located within the Goias State of Brazil.


CSE:API - Post by User

Appia Rare Earths & Uranium Corp
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Post by radioguyon Sep 29, 2008 4:46pm
520 Views
Post# 15492201

Genuity on API today

Genuity on API today

News

• This morning, before market open, API announced the first

indicated resource estimate for its 100%-owned Burr potash

project (upper Patience Lake member), Saskatoon, Canada.

Highlights

• Indicated resource increases from 0 to 89mm t of KCl –

89mm t exceeds our base case estimation by 6% (indicated

resource is 241mm t at 23.3% K2O).

• Inferred resource increase from approximately 30.0mm t

to 67.8mm t of KCl – The inferred resource was increased by

126% (inferred resource is 183.1mm t at 23.2% - this is a 9.5%

decrease in grade from the previous inferred resources in 2007).

• Total resource of 156.8 million tonnes KCl – The total

inferred and indicated resource exceeds our optimistic case

estimation by 30% (we had estimated 120.7mm t of KCl).

Impact – Positive

• API has surpassed the 80mm t indicated resource benchmark for a

potential 40-year mine life at 2mm t KCl production/year.

Documentation of the +80mm t indicated resource removes some

project risk and places API at the forefront of potential greenfield

potash projects in Saskatchewan.

Conclusion

• API continues to be well positioned with its 100%-owned Burr

project, as it is amongst a few advanced potential greenfield

potash projects in Saskatchewan. We maintain our BUY

recommendation and our 12-month target price of $20.00.

API is Speculative and suitable for risk-tolerant investors only.

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