valuation, page-4

Here ya go Andy. Note that since the great run EXT has had this morning it has caught up somewhat to DYL and BMN. Based on the current disparity in market caps you would only be expecting a $2.50 - $3 price for EXT but I expect that the whole sector will be lifted on the rising tide of rising U price therefore $3 - $4 stands as my forecast. This is especially true as the conservative 30 mill pound forecast by EXT will be blown away by early 2008, it will be much higher.

No of Shares Current Price Current Market Cap
BMN 147,000,000 3.00 $441,000,000
DYL 1,018,824,884 0.475 $483,941,820
EXT 183,000,000 0.86 $157,380,000


Multiple of BMN vs EXT 2.80
EXT price if matches BMN market cap $2.41

Multiple of DYL vs EXT 3.21
EXT price if matches BMN market cap $2.76