Have you ever wondered how a uranium companys resource calculation can increase, sometimes even double? I did and I began making inquiries about this. In February, during a meeting, it was a topic of discussion with William Boberg, Chief Executive of UR-Energy (TSX: URE). I have also had talks with David Miller, President of Strathmore Minerals (TSX: STM; Other OTC: STHJF), and his senior geologist, Terrence Osier. The differences in resources reported by a company, in at least one of the examples found below Strathmore Minerals Church Rock property, is because of the mining methods to be used. The grade-thickness applied to the resource may differ between conventional mining (underground, open pit) versus in-situ solution mining. That can increase the size of the estimated resource.
A Canadian listed mining company can not announce its uranium resource estimate unless it files a document called a National Instrument 43-101 (NI-43-101). You may read in some news releases: These are historical estimates. The NI 43-101 came about after the 1997 Bre-X Minerals debacle. Possibly the worst mining scam in Canadian history, it was preceded and followed by other, lesser mining...
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