Agreed. Average grade of 1.8% is far better than most. We are now officially over the 100,000,000 lb mark. I suspect that the cutoff grade may be what brought down the average grade by 1/2. It is hard to tell without the full report which we don't have access to.
The reports suggested much higher results in many previous itterations of the past report right up to the Nov 29, 2018 press release. By that time the company should have known that Ken Pen and Paul Bay would not be able to report the 3.2% averages. So why repeat it? Is it perhaps that infill drilling would bring it back up to the 3.2%? Is it perhaps a result of the cutoff grade that they are forced to use? I don't know. But if the average of 3.2% held up for this maiden 43-101, the we would have been reading a report of 40 million lbs instead of 20 million lbs. One encouraging thing that I see in this is is that the 20% holes did prevent the 20 million lb estimate from falling despite the other average being cut from 3.2% to 1.8%. That said, why is not more being said about the 20% holes? Is someone hoping to shake out more shares? Once again, I don't know.
What I do know is that the infomation aspect has been poorly presented again and again and leaves investors having to do the speculative work for which most of us are not qualified to do. Frankly, I have had it with this poorest of communication teams. Last year we had the greatest of information on the UEX website and now we have mediocrity and some of the worst press releases ever written.
Even if we were qualified, we would have to expend a great deal of effort locating information for pevious drill holes and reviewing all of them. That takes more time than I or other investors are inclined to have on our hands. Why on earth do we pay a full time IR person for if we can't even 'easily' access historical drill holes? Why do the websites not have a tab devoted to ALL DRILL HOLES and Maps ONLY? That tab could consist of a simple table(s) correlated area map(s) with legible drill hole markers that the company definitely has.
I don't believe for a minute that Rick Rule would refer to UEX as a 'no brainer' if he thought that a 43-101 such as that which was presented to us today was truly representative of Christie Lake. I don't believe that Stephen Sorrenson would have excercised his options if he thought that a 43-101 such as that which was presented to us today was truly representative of Christie Lake.
With that said, Roger needs to learn how to manage investors expectations much better. He keeps raising investor expectations only to let them down time and time again. At first, when Roger finally stated in the MD&A that he did not sign off to the original 43-101 I was pleased to see that he spotted something wrong with the report. Having seen today's extremely brief report, I suspect that the first 43-101 was not much different than this one and that we now ended up paying for two reports that bore similar results. Perhaps he is not as good as I thought.
Frankly, I think we need to work on convincing Stephen Sorrenson back into the CEO job. I am very confident that such an announcement alone would cause UEX shares to take a giant leap upwards. Roger may understand geology but that does not make him a good CEO. UEX has a great portfolio of discoveries but management continues to FAIL its investors and it is time for the board of directors to look for new talent. Even SightlineU3o8 rated UEX as being one of the best Uranium Companies had 'management rated lower' than their other selections.
We also need much better drill target selection than he has agreed to for Christie Lake. Planning to drill section B is almost as dumb as those winter holes that were drilled in January 2018 when they drilled North East of the 20% hole into the lake where previous holes showed nothing.
Finally, management should also have provided to investors a 3D map of Orora's 20% holes which we were told we would have before year end. These should have been included with today's release. They were not. Another missed expectation? I guess they still have a few days but I won't hold my breath.
- UEX has LOCATION LOCATION LOCATION
- UEX had plenty of discoveries
- UEX needs NEW MANAGEMNT and to stop spending money on IR salaries that do nothing to help the company.
News 
Market Data 
Discover 
