Here is information on the speculative stock I am playing with at the moment.

Western Metals(WMT) is a Perth based exploration company with interests in Australia, Tanzania, theUSA and Peru.

STRATEGY

The corporate strategy comprises a focus on generating a portfolio of high-quality, high value assets supported by a base of people, knowledge and networks. Projects in the Western Metals portfolio are selected for their prospectivity, low sovereign risk and high value commodity exposure.

PROJECTS

• The company has an agreement with Uranium Resources plc including the Mtonya Project in Tanzania wherein Western Metals can earn 60% by spending $4m. Western Metals also has a 42.5% interest in an additional 10,413 km2 of tenements in Tanzania bringing the license area to 13,851 km2 with a further 211 km2 under a 45% joint venture. Exploration results indicate strong uranium mineralisation at surface up to 6.6% U3O8 at the Henri anomaly to be tested by drilling in June 2007.

• Western Metals has a USA uranium JV with USA group Lynx1 LLC. The JV holds exploration and mining rights over prospective lands in Colorado and will be undertaking
exploration activities during 2007. Western Metals currently holds a 52% interest, with an ability to earn up to 80% by spending USD$1.4 million.

• The company has entered into a JV in Peru with SMRL Rustica Claudia 5, a private
Peruvian entity, to target a large tonnage Cu-Mo-Au porphyry deposit similar to other giant deposits in the region. Western Metals can own 100% through payments of USD$2.5 million over a four year period.

• Western Metals has an agreement with a major mining house to explore for base metals in the West Georgetown area in Northern Queensland. The agreement provides for Western Metals to achieve 100% ownership at the completion of an airborne geophysical survey whilst our JV partner has a claw back provision. The tenement area also hosts gold and uranium potential.

• Also in the portfolio is a 60% interest in the Queen Hill tin deposit in Zeehan, Tasmania in a JV with Gippsland Limited. This includes a resource of 7.3 Mt at 0.69% Sn.

GROWTH

Western Metals continues to review global opportunities for grassroots to advanced exploration opportunities in base metals, gold and uranium. Since the current management team was put in place in June 2006 this has yielded four new projects in the US, Peru, Australia and Tanzania which are now fundamental to the company’s aggressive exploration strategy.




	
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