re: Ann: UPDATED TRANSIT RECEIVES STATE APPRO...
i read this as that the cut off at 32% is higher than the grade that they have got on beds 13 and 18 - 19% to 29% which means that they have nothing at all because it is all sub economic. i must be wrong or they have misreported this. they go on to announce robust financials etc etc.
i found a reference to grade thickness from a uranium miners site which might help in understanding this. "GT represents grade multiplied by the thickness and is calculated by multiplying eU3O8 grade (in percent) by gamma anomaly thickness (in feet) as determined from down-hole radiometric probing. For example, a drill hole that has 10 feet of 0.10% uranium mineralization has a GT of 1.0 and would be considered a good hole by ISR mining standards." url = http://www.uranerz.com/s/UraniumResources.asp
could we think of this in the same way, ie taking the average grade of 24%, it does not take many metres of the stuff to push it over 32.
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