RE:RE:RE:Lord no take out offer till March/2014You can't really say that people are pulling numbers out of their a$$ and throwing them around when Cantor is stating the potential of PLS to be closer to 200 million lbs.
I'm not saying it's a given that we get there as I don't believe we'll be able to drill long enough to prove up the property to that extent but a $4 prediction isn't that outlandish when you consider the possibilities. That said, there's still lot's of work to do, another great intercept today. Great work AMW and FCU!
Rob Chang, research analyst at Cantor Fitzgerald, told clients in a research note that the firm sees the the current back of the envelope resource estimate for the project to be at 36.2 million pounds (lbs) of U3O8 at an average grade of 1.60%. This assessment takes into account just the R00E and R390E zones. Overall Cantor Fitzgerald believes that the Patterson Lake South project has the potential to contain closer to 200 million lbs of U3O8 from the original 100 million lbs summation.