ERN 0.00% 0.5¢ erongo energy limited

resource estimate for namibian u3o8

  1. 13,667 Posts.
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    Below is a resource estimate for only one of Erongo energy's prospects and there are plenty of great prospects on the 4 tenements that have been granted. See below.

    We work out the estimate by

    "length by width by thickness(depth)"

    The mineralisation is hit over a zone from 25 to 35 meters thick. See quote taken from the message below.

    "The drilling identified an apparently broadly flat undulating zone of mineralization 25 to 35m thick over an area of 800m by 250m. The mineralisation, identified as a radiometric and Radon anomaly, remains open to the south."

    800 x 250 x 35

    = 7,000,000 Cubic Meters

    2.4 tonnes per cubic meter.

    = 16,800,000 tonnes

    Say we use an average grade of 250 ppm.

    This will give us

    4,200 tonnes of uranium which is just over 9 million pounds. This is a great start for an explorer. Exactly the news they were looking for to get them kick started. SP held up very well today and based off the calculations there is no way I'm selling these any time soon. They have too many prospects on their licenses. I think once the granting of EPLs kick off again in Namibia they will also get the fifth license which also has a historic resource. Erongo are looking good.

    They will move into drilling quickly. see quote

    "An RC rig has been secured and is scheduled to commence an initial 10,000m drilling programme at the Erongo Granites Project in April 2007."

    Uranium spot is $90 and this will continue to increase. Uranium is the new energy. Companies like erongo will still have the opportunities to take advantage of uranium prices. Its only the beginning IMO.


    Shares on issue are as follows

    ERN- 39,104,310
    ERNO- 37,515,689

    Fully diluted Erongo are worth just over 50 million with 4 million + cash at bank.

    Compare this to other Namibian explorers such as BMN/DYL/EXT and you can see there is plenty of room for Erongo to move. Especially due to the recent historic results which have been brought to our attention.

    Erongo also have oil assets in Louisana which are bringing in cash flow..and they are building a large mineral sands project database based in Namibia which there has allready been hints of an in-specie distribution to share holders.
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