Past year: ▼ 35%(20.5c – 47.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
18 Nov 2009resource reserve update▲ GoodMajor
Interim resource rises to 122Mt at 140ppm for 38.6Mlb, with 16Mt at 170ppm now Indicated (about 15%). That is a 9% rise in tonnage and 12% in contained uranium on the July 2008 estimate. It uses only 39% of new data; the final estimate slips to January 2010.
10 Nov 2009drilling result▲ Good
Assays from Scaddan's 32 aircore holes show a lignite seam typically 5-10m thick at 15-50m depth, which the company says supports coal-to-liquids potential. Further assaying will feed an Inferred resource estimate. It follows the September drilling near Blackham's 760Mt deposit.
6 Oct 2009drilling result▲ Good
First 11 holes at Phillipus, 4.5km north of the resource, show a continuous mineralised horizon, including 16.2m at 169ppm and 7.5m at 299ppm eU3O8 (preliminary probe grades). Drilling has started at Springbok. RC total reaches 9,404m; extra western infill is planned for the December resource.
23 Sept 2009drilling progress report● Neutral
Further probe results from 154 holes, best 12.7m at 216ppm eU3O8 (MAR1136), will miss the October preliminary resource (data cut-off 12 September) and go into the December final. ANSTO awarded the metallurgical scoping testwork, testing heap-leaching, with preliminary results due by December.
9 Sept 2009drilling progress report▲ Good
4,104m of RC drilling was completed in August, taking the total to 5,289m since July. Probe results include 14m at 415ppm eU3O8 (SP2455). A preliminary resource upgrade is due in October and the final in December 2009, aiming to lift much of the 111Mt Inferred resource to Indicated.
27 Aug 2009drilling scheduled● Neutral
Plans a 32-hole, 2,000m aircore program at its 100%-owned Scaddan tenements in WA, testing for lignite near Blackham's 760Mt deposit, plus gold and base metals. Revives the older Scaddan project, though Marenica remains the main focus.
25 Aug 2009drilling progress report▲ Good
The RC infill program is expanded from 5,000m to 7,870m, with 190 holes (2,600m) done. New probe results from historical holes include 11.1m at 1207ppm eU3O8 (M0602). Primary-target RC drilling at Phillipus and Springbok is due in early September.
12 Aug 2009drilling result▲ Good
Rock chips at the Phillipus target returned up to 880ppm U3O8, with 28 of 42 samples above 100ppm over a 700m anomaly. The company listed on the Namibian Stock Exchange (code WAM) on 4 August. About 150 of a proposed 350 RC holes are done.
28 July 2009drilling result▲ Good
First re-probing of historic holes, not in the 111Mt at 140ppm Inferred resource, returned intercepts such as 11.3m at 347ppm and 8.1m at 442ppm eU3O8. Probe done on 98 holes before a technical fault; back by 6 August. A 180 sq km airborne survey is planned.
10 July 2009drilling scheduled▲ GoodMajor
Plans a drilling campaign at Marenica with up to A$5m over six months: 5,000m RC infill, a 100-hole west exploration program, 5,000m for primary uranium, and re-probing of about 750 historic holes. Shareholders approved the A$9.9m placement on 9 July. Swakopmund office leased.
30 June 2009drilling result● Neutral
Re-lodged release of the 29 June probe results: best intercepts 6.5m at 183ppm (MARD034) and 12.7m at 135ppm eU3O8 (MARD037), with visible uraninite at 38.7m. Eastern target is not high priority but supports primary uranium potential. Exploration drilling is planned from August.
29 June 2009drilling result▲ Good
Probe results from the primary-target holes include 12.7m at 135ppm eU3O8 (MARD037) and 6.5m at 183ppm (MARD034). The company calls the eastern target not high priority but a confirmation of potential; RC drilling is planned from August.
17 June 2009resource reserve update▲ Good
SRK's preliminary mineralogy finds the main uranium mineral in calcrete and secondary ore is carnotite (about 85%+), and expects better than 75% extraction from supergene ore. It says the earlier 2008 AMMTEC testwork sample was not representative. Positive for the processing route; still preliminary.
27 May 2009drilling result▲ GoodMajor
Diamond hole MARD038 intersected hydrothermally altered granite from 33 to 46m with scintillometer readings to 750cps at Marenica East, the first sign of primary uranium. A$3m more is allocated to follow-up RC drilling, and work to upgrade the resource from Inferred to Indicated starts in June.
12 May 2009drilling result▲ Good
Probe results from the metallurgical diamond holes include 21.5m at 748ppm eU3O8 (MARD031). Further chemical assays on 983 earlier RC samples are also positive. Results feed an updated resource estimate in 2009; samples go to Mintek for testwork.
29 Apr 2009drilling result▲ Good
Metallurgical drilling at Marenica finished: 31 PQ holes for 562m, with visible carnotite in palaeochannel and bedrock. Next phase of HQ holes now started on primary targets on the southern Dome margin. Probe results expected early May; the 34m lb resource is unchanged.
6 Apr 2009drilling result▲ Good
Lab assays on the first 466 of about 2,000 samples confirm earlier probe results, with best 24m at 1,057ppm U3O8 (MAR510) and 14m at 674ppm (MAR627). Supports the October 2008 gamma readings but does not change the 34m lb resource.
30 Mar 2009drilling scheduled▲ Good
About 1,500m of diamond drilling starts 1 April at Marenica: 28 shallow holes for metallurgical samples from the 34m lb resource, then hard-rock targets on the Marenica Dome margin. Aims to set a processing route for a scoping study later in 2009.
1 Oct 2008drilling progress report● Neutral
Phase two drilling at Phillipus alaskite is complete (8 holes, 1,207m); early readings suggest grades similar to the first phase (50-200ppm eU3O8). Palaeochannel drilling over 15 sq km is nearly done. Drilling of the Thys alaskite zone is imminent; Scaddan airborne survey starting.
30 July 2008resource reserve update▲ GoodMajor
Updated JORC Inferred resource at Marenica of 34m lb U3O8 (111Mt at 140ppm, 80ppm cut-off), more than double the 15m lb of November 2007. A further 7-27m lb is flagged as exploration potential. Drilling is to extend to 16 sq km south and west.
21 July 2008drilling result▲ Good
Mineral studies find uraninite makes up on average 92% of the uranium in Phillipus Zone alaskite samples. The company says uraninite is easily treatable and is also the main mineral at the Rossing mine 60km south. Supports the hard-rock discovery.
8 July 2008drilling result▲ Good
Phase Two infill drilling in the Priority Area is done, with 15,800m drilled in total and more gamma results reported. Phase Two drilling at the Phillipus hard-rock target has started. The revised resource, previously aimed at mid-2008, is now expected by end of July.
26 June 2008drilling result▲ GoodMajor
Gamma probe results confirm a hard-rock uranium discovery at the Phillipus Zone, with all four holes over 100ppm eU3O8. Best: 29.2m at 123ppm eU3O8 in MAR351. Assays are pending and deeper drilling is planned for September quarter 2008, adding a second style of mineralisation to Marenica.
30 May 2008drilling result▲ Good
Initial four-hole, 333m RC test of the Phillipus Zone, a 1,500-2,000m hard-rock alaskite target separate from the palaeochannel resource, found alaskite zones up to 50m combined width and surface readings to 6,000cps. Assays are pending; a new type of target for Marenica.
21 Apr 2008resource reserve update▲ GoodMajor
Company sets an exploration target of a further 65-85Mt at 115-145ppm U3O8 (17-27m lb) over 7 sq km, additional to the existing JORC resource. It is conceptual and unproven; a revised resource is aimed for mid-2008. Follows the Priority Area drilling.
11 Apr 2008drilling result▲ Good
Further Priority Area results (97 holes) push mineralisation close to 2km east of the resource, still open, with combined thickness up to 20m (e.g. 10.4m at 190ppm eU3O8). A target statement is expected by end-April and a revised resource by mid-2008.
7 Apr 2008drilling result▲ GoodMajor
Drilling extends Marenica mineralisation up to 1.5km east and 2.5km southeast of the resource, with thickness up to 20m (e.g. 13.6m at 240ppm eU3O8). A target statement is due this month and a revised resource by mid-2008. Scoping metallurgy has started.
25 Mar 2008drilling result▲ Good
Area 3 radon survey shows an undrilled anomaly about 2km long on the main channel, with a shallow carnotite pit inside it. Probing of historic holes gives intercepts such as 1.6m at 389ppm eU3O8. Supportive indications only, nothing drilled in the anomaly yet.
5 Mar 2008drilling result▲ GoodMajor
First Priority Area RC results extend Marenica mineralisation (over 100ppm eU3O8) east and southeast of the 15m lb resource, with five holes showing 10-15.7m accumulated thickness. The company says this improves heap-leach potential. Assays are delayed by laboratory backlogs.
29 Nov 2007resource reserve update▲ GoodMajor
Maiden JORC Inferred resource for Marenica Areas 1-3: 32Mt at 213ppm U3O8 for 15m lb (110ppm cut-off, to 40m depth), in line with the 14-22m lb target. Probe grades were cut 20% after checks against assays. Drilling is planned over 28 sq km to expand it.
