RE: RE: Let's talk about stripping... That's exactly right, and is something that buyers understand. The alteration they are seeing is widespread and pervasive... they are also seeing massive and visible pitchblende throughout the mineralized intervals. These are all suggestive of a large long-lived hydrothermal system, which is what you want to see.
The geophysics is another piece of the puzzle... there is a very large and strong conductor that runs through the heart of the trend that we are on the edge of with these first holes. Anyone who knows anything about U308 exploration will see that all of the elements are here for a major deposit... hence the chart. We have a large, long conductor with multiple VTEM targets, evdidence of faulting and fracturing, extensive fluid alteration, and of course, visible uranium mineralization in the basement in last 4 holes of the fall program.
Post financing, there at 16mm shares basic, and the fully diluted sharecount is 23-24mm. The fully diluted cash position will be in the $12-14mm range, which would keep them drilling for a long time, given how cheap these holes are. There is an accelerator on a chunk of the warrants if the stock trades over $2 for 20 or 30 days (can't recall if it's 20 or 30 days). I can tell you that if the stock is trading over $2 for 20-30 days, i'll be one happy camper, because it would probably mean that events were continuing to unfold favourably.
The only rational comparison based on the data so far is indeed HAT. HAT's first hole was 12m of 5% U308, but again recall that was 250m deep, whereas we're only 60m deep (refer to my first post on this thread to see the implications of that). I'll also point out that shortly after HAT's first hole came back with assays, HAT's market cap was about $160mm. HAT had 90% of their deposit, we have 50%, so multiply that $160mm by 0.55 to adjust for project percentages. That was it at that stage, HAT had one hole out, just ONE. Nothing about this story is any less compelling than HAT was in those early days. Our grades could be half of what HAT's were and we'd still be looking great.
Any way you look at it, if you believe that the scintillometer readings are indicative of grades anything close to the HAT discovery hole, we're in very good shape IMO. Good luck to all.