I get a bit worried about a whole new generation of investors/traders/speculators who expect a 50% return on their investment in a 2 month timeframe. What will happen to them when the market returns to a more normal state???
Our job is to outperform the majority of shares/people. If a 50% ROI in a 2-month timeframe is the norm, get set. If a 50% ROI in a 2-year timeframe is the norm, get set too...those who fail to get adjusted will get stuffed - it's the law of the jungle:
Excellent run for a down day They are up 4c to 90c on what I would say was low turnover.
Must be something that is not generally known driving them.
Perhaps not many people are posting because of this:Even fewer postings for EXT these days!!
31/08/2007 Rossing South Media Release
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00754662
MEDIA RELEASE 31st August 2007
Extract announces early positive uranium results at Rossing South
Extract Resources (ASX:EXT) is pleased to announce that results of scout drilling at Rossing South Prospect, has identified anomalous uranium in altered alaskitic granites over a width of 160 metres, and which remains open to the east and along strike to the north and south.
Assay results from a scout traverse across the inferred strike on the Rossing South target on the Husab Project in Namibia, have been received. A line of six (6) shallow holes has been drilled through approximately 40 metres of transported overburden and leached saprolite, to test the stratigraphy of the underlying bedrock. The holes were spaced at 80 metre centres and anomalous uranium has been returned from three consecutive holes. The three holes span 160 metres across strike, and the anomalous zone is open to the east, as well to the north and south along regional strike. The anomalous uranium is associated with zones of smoky quartz in altered leucogranite. All three holes recorded uranium values of at least 100 ppm U3O8, with a peak assay returned of 188 ppm U3O8 from the eastern most completed hole in the traverse.
The first ever drilling at Rossing South was aimed at identifying the Khan and Rossing Formation contact - an unconformity surface that has been preferentially exploited by the leucogranites containing primary uranium mineralisation at the Rossing Mine to the north and at Ida Dome to the south where the Company is currently resource drilling. The Rossing South target is interpreted as being an extension of the same stratigraphy that hosts the Rossing Mine, located 5 km to the north, and which strikes 15 km onto the Husab Project.
Extract Resources Managing Director, Peter McIntyre said that the company is very encouraged by these results. “Although at a very early stage of evaluation, we have been very encouraged by identifying the Rossing marble, but to intersect mineralised alaskite in the first line of drilling is considered highly significant,” Mr McIntyre said. “The results could represent the discovery of a new zone of granite hosted uranium mineralisation which is proximal to Rio Tinto’s Rossing Mine, and which has been concealed by barren cover. Further drilling of this zone will be conducted over the coming months and an orientation radon survey over the desert plain is also planned.”
40 metres of transported overburden
All three holes recorded uranium values of at least 100 ppm U3O8, with a peak assay returned of 188 ppm U3O8
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