giralia - patersons uranium update (february 14th), page-8

re: u308 - the west australian n/paper march 11th, Hi wrxsti

I have been a bit selfish & have not posted much on GIR as I have been busily accumulating at these low prices from other profits. I am still not fully set yet, but will be this week.

IMO, GIR is GROSSLY undervalued. What is interesting is that they are spinning all their U leases into U308, BUT they are holding onto the Lake Frome/Beverley leases. This speaks volumes to me! Their L. Frome EL's are a stand alone "company maker!" These leases are MASSIVE! They include large blocks of uranium bearing land:
1] below AGS,
2] below the Beverley mine
3] To the right of Beverley mine
4] Above Bevereley mine

Interestingly, I was doing some reading about them. Evidently during the "dot-com" boom, they went on an accumulation binge, buying up exploration leases cheaply. (If anyone is interested have a look at the map on their websit for details) Hence, the vast amount of EL's they have been able to float. They still hold a swag of them too! Hats off to smart management who were then willing to pass on benefits to shareholders.

As bullish as I am on AGS, I am more so on GIR. They have top quality Lake Frome leases that have already had some excellent drill results, drilling is now underway, and we will see increased drilling this year as Heathgate confirm AGS's deposit & turn more attention to GIR's. Also as you mention their M/Cap is way to low, so they represent a great oppotunity ATM.

cheers

Tibbs