Uraniumletter International’s Peer Group of the world’s top-20 Uranium Companies Makes BMN look very cheap…
http://www.australian-shares.com/mining/BMN
Highlights
Significant expansion of the Etango Uranium Project mineral resource estimate including a 21% increase in Measured & Indicated Resources to 107.7Mlbs U3O8 at an average grade of 208ppm U3O8, and a 40% increase in Inferred Resources to 52.4Mlbs U3O8 at an average grade of 197ppm U3O8. For the first time, the resource estimate includes Measured category resources of 2.0Mlbs U3O8. Approximately two thirds of the total resource estimate is located within 200 metres of surface. All mineral resource estimates are reported at a cut-off grade of 100ppm U3O8.
The Etango Project preliminary feasibility study (“PFS”) has been further advanced focusing upon an open pit mining and heap leach processing operation for the production of 5-7Mlbs per year of U3O8 over an approximate 15 year mine life. The PFS has to date been based on the February 2009 mineral resource estimate.
New favourable results from larger scale heap leach column testwork and flotation beneficiation testwork were received following the end of the quarter. These results have the potential to materially influence the ultimate choice of preferred processing route and the scale of the plant concerned. Consequently, the PFS timetable has been extended to fully investigate the impact of these developments. The PFS will now also incorporate the latest July 2009 mineral resource estimate.
Resource definition drilling at Oshiveli and Onkelo to the north of Anomaly A confirmed the extension of multiple broad zones of mineralisation generally close to or directly from surface. Mineralisation remains open between the resource areas and at depth. Further infill and extensional drilling is presently underway.
Recent geophysical and structural geological work has identified a number of key exploration targets to be tested on the Etango exclusive prospecting licence.
Successful completion of an equity placement for gross proceeds of A$30 million to Australian and foreign institutional and mining investors, as well as a Share Purchase Plan offered to eligible shareholders for proceeds of A$7.5 million.
Cash reserves as at 30 June 2009 of A$37.6 million.
Market Cap $236m
Lots more to come re exploration…… BMN is the green
I wonder what PDN are thinking….
Tubas – DYL and TOE
Attachment qualifies PDN for the what were they thinking award….BMN is the green shaded areas.
Uraniumletter International’s Peer Group of the world’s top-20 Uranium Companies
