sim is going to hot up The following are quote from SIM...

sim is going to hot up The following are quote from SIM quarterly came out on Friday night.

"Since listing the Company has acquired an extensive portfolio of uranium projects with two granted exploration licences and 18 exploration licence applications in three states".

"Lake Frome Uranium Project SA. (Scimitar Applications 100%)

The Lake Frome Project area is comprised of six Exploration Licence Applications covering 5,292 km2 in the Callabonna Sub-basin of South Australia, 500 km north east of Adelaide. This significant uranium province has been the focus of roll front uranium exploration since the 1970’s and is host to the large uranium deposits at Beverley and Honeymoon Well. It is
anticipated that the tenements will be granted in August 2005."

"Scimitar has applied for three tenement groups in the Lake Frome Project area; Glencoe, covering 922 km2, to the east of Lake Frome and 150 km north west of Broken Hill, West Lake Frome covering 2,801 km2 and
Marree which covers 1,569 km2 on the northern flanks of the Flinders Ranges. Exploration for the quarter has focussed on a review of previous exploration data with field exploration due to commence in the September quarter 2005."

"A geological review and interpretation of available airborne radiometric data, during the quarter, has identified a number of uranium anomalies in Scimitar’s south eastern and north western licence applications. Two large channel systems extend through Scimitar’s southern licences and are visible in the radiometric images. These channels drain uranium enriched basement to the north east of the Ngalia Basin and are thought to be associated with the calcrete
mineralisation at the Deep Yellow Ltd, New Well deposit, adjacent to Scimitar’s licence applications."

"The Company is well funded and able to launch a targeted exploration program in the September quarter 2005 and is therefore well placed within the uranium sector. Exploration of the Company’s other gold and nickel assets will also continue in the September quarter 2005."