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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area

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To: Taikun who wrote (9475)	5/29/2005 7:59:17 AM
From: Crossy	Read Replies (2) of 37387

re: OMC.AX - Omegacorp (Sidney, ASX) - A$0.87 News out - another brownfield project in Mozambique being gobbled up.. This time a HIGH GRADE deposit - the MAVUZI mine, up to 8% grades were recorded on historic mining activities there.. Looks like Mr. Yates and his team will enjoy a busy 2005 schedule for delineation drilling and resource verification on all their sites acquired IMHO this appears to be a more exciting Uranium play to me than many of the Canadian listed stocks at the moment... It's a "stealth stock", because you have to go extra lengths to obtain info - partially becuase they are assembling properties in Africa. Not many foreigners (non Aussies) hold it and it's solidly financed by a famed enterpreneurial mining financier, Ian Middlemas. OmegaCorp acquires historic uranium mine in Mozambique 15:02, Thursday, 26 May 2005 Sydney - Thursday - May 26: (RWE Australian Business News) - OmegaCorp Ltd (OMC) has been granted a licence by the Mozambique Ministerio Dos Recursos Minerais E Energia covering the historic high-grade Mavuzi uranium mine in northwestern Mozambique. Mavuzi was discovered in 1947 and is reported to have been in production until 1967. It is located 40 kilometres northwest of Tete in Mozambique, only 300 kilometres east of OmegaCorp's Zambezi Valley Project. Production from the mine and surrounding area totalled about 40 tonnes U3O8 between 1947 and 1955. It is reported that the uranium mineralisation was exploited from narrow, high-grade veins within a shear zone. Values reported from surface sampling prior to mining indicated results of up to 80kg/tonne (8pc) U3O8. The shear zone was mapped over a distance of 7 kilometres and reported disseminated uranium mineralisation throughout the shear zone. Potential therefore exists for both high-grade vein mineralisation and disseminated mineralisation within the shear zone. The licence area and two further applications cover more than 560 square kilometres of the Tete Complex – a gabbro anorthosite, which has had a history of mining and exploration for many different commodities that include copper, nickel, molybdenum, cobalt and platinum group elements (PGEs). The company's consultant geologists are heading to site to commence field mapping, sampling and gridding as a prelude to drill testing in the third quarter of the year. Shares in OmegaCorp today rose 6c to 90c. Detailed ASX release is here: asx.com.au rgrds CROSSY

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