no "sophisticated investors" talking so I thought I'd start the conversation:
Drilling results seem pretty bad, 210 ppm low, 11 mlb inferred u3o8 when we were expecting somewhere between 35-110 mlb. Might be worth buying later for whatever else they are yet to find but expect a sell down first. Uranium prices so low, plenty of holders will lose interest
The tone of the announcement shows that they are unhappy about it, ie) their main heading was that they got a maiden resource out rather than how good it was, everything else in the announcement is about the future of the drilling programme and keep quiet about the results
On the plus side, as they say, only 10 out of 5000 km^2 investigated so there's scope for new results especially with the aerial survey now completed but don't think that potential will justify current sp
I'm going to be holding but will keep my eyes mostly closed for the short term
NGM Price at posting:
12.5¢ Sentiment: Sell Disclosure: Held
