Bruce Lane

we were pretty sure we were going to be adding some new ground to the project. Some private mineral rights which butts up against the resource areas.

there's um 1,000 acres of of of uh lease um mineral lease um combined and then there's around about 500 acres of uh claims.

we were able to lift the resource in those areas um up to 46% indicated and and at around just over 7 million pounds. And that you know, and that's from the halfway point in the drilling program.

We lifted the average grade from 630 ppm to 720 ppm.

we managed to lift the average grade in the resource from 630 ppm to 720.

Got it up to 9.45 million pounds and 43% of that is at indicated.

The latest update shows La Sal Hermosa is growing to I believe 9.5 9.45 uh million pounds with uh 43% in the indicated category.

where both the the grade and the thicknesses are sufficient to support um in situ recovery mining. Um and so, it uh you know, there isn't a geophysical technique that seems to be highly reliable um for roll fronts

we've got three proposed mine units and we've got around 7 million pounds, just over 7 million pounds which contained within those proposed mine unit areas.

we've got internal modeling based on a northern sustaining cost of around, you know, in that sort of $40 give or take range

an assumed CAPEX of around, you know, 60 to 70 million bucks, you know, startup capital in the region of maybe 45 to 50

a mine life of around, you know, somewhere in the sort of 8 to 10 year mark, the economics look very positive.

uranium price is, you know, north of $90, $100, say

we did a placement for 2.64 and we've just just launched the rights issue

We've completed just over 60 of those holes

We completed the resource update at the end of March as we'd guided.

So, we're expecting that to happen in the first half of May.

looking forward to a scoping study in Q3

We've got a project in Wyoming's Powder River Basin called Lo Herma.

a uranium exploration and development company with advanced assets in the United States, specifically Wyoming and Utah.

We've got a project in Wyoming's Powder River Basin called Lo Herma.

We permitted 121 holes.

our leach testing, our bottle roll tests, we use the same lixiviant mix or as close as we could tell the same lixiviant mix as at Cameco 10 mi away

We've we've already conducted some and got good results, but we obviously want to increase the number of samples that we would we put through that process.

we've we've got 7 million pounds um we would describe as under pattern in our concept that will go forward into the into the into the scoping study. And there are um areas of resource outside of that which which may be amenable, but we simply don't have enough hydrogeological insight

we believe it's um it shows you know, um economic potential at the size it's at now. Um but look, you know, we're we're probably looking at a 7 or 8 year mine life. Maybe we can get it to 9 or 10

we've got Cameco's Smith Ranch which is about 10 miles to our east. We've got UEC with Irigaray Christian Ranch just up the road about 40 miles.

We've got a lot of very loyal shareholders 3,200 shareholders

looking forward to a scoping study in Q3

it sets us up quite well for what we hope to be a fruitful drilling program in in the next couple of months.