Hole 116: 2.5 Metres Grading 70.34% U3O8 / #10-200: 22.5 Metres Grading 11.3% U3O8 / #30: 69 metres grading 2.33% U3O8 / #10-188B: 7.5 metres grading 29.98% U3O8

ATHABASCA BASIN: WHERE GRADE IS KING!

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Message: Re: cannacord / unrealistic sell off

Re: cannacord / unrealistic sell off

posted on Mar 05, 2009 05:21AM

I just want to give my opinion, in reference to the recently released drill results. As per (previous posting) Cannacord...in reference to "adding these holes to our database reduces our average grade marginally to 5.6% U308 from 5.7% U308 and our total contained metal to 40.8 million lbs from 41.6 million lbs in our previous conceptual resource".

Well, it absolutey baffles me to see the SP drop so dramatically on what I percieve to be a very small change in resource estimate (based on infill drilling that is not within the prime target zone anyway). The SP drop is NOT justified. Lets hope we don't have another MINISCULE reduction, or we could see another 30% drop in the SP. It makes absolutely no sense to me. Everybody was content a week ago, and a minor step out drill result does this to the SP. Whoever is selling, and creating panic WILL be the BIG LOSERS come the next set of drill results. YOU CAN'T EXPECT EVERY HOLE TO HIT!!!!!!!!! No Magor out there (or the Chinese) are going to let HAT (with its conceptual resource) sit around at this low price for long.

Personally, (and this is only my speculative opinion, and does not refer to any company) but......I often wonder about the order in which drill results are released...????

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