I am not a geologist so I am looking at this from an investor standpoint.
IBI (ibiinvest.com) was featured in Northern Miner several weeks ago and has an interesting story to tell, and is developing, in Uganda.
Apparently, mining is very undeveloped in Uganda due to misrule. So it comes as no shock that IBI has claim to a gold mine that is currently operational but small.
But the most unbelievable aspect is their claims to potential uranium in the country. Many uranium miners in Africa have values largely exceeding IBI with possibly the same type of assets.
Do you just go on what IBI has to say? Please read this:
http://allafrica.com/stories/200707190003.html The government is sensing something big in the woodworks.
Unfortunately, the article is not positive on private landrights, but I'm willing to stick with IBI's assertions until proven otherwise.
The stock is trading at a nickel. It's a better bet than playing Texas Hold 'Em.
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