just had a lovely conversation with ian scott., page-63

Just a few thoughts from me. Not trying to downramp so much as to counter some of the over the top "enthusiasts" here.

I'm still holding a fair number of RSL and believe this is an excellent medium term prospect. Short term and long term I'm not so sure.

1. Malawi leases were a done deal months ago. Red Rock transferred them to RSL and all they are waiting on is the guy in Malawi to rubber stamp them. There is no value here that hasn't already been priced in - the lemmmings are not the ones who jump off at 3c+ they are the people who bid it up to that level in the first place. We have known about these leases for months now. I might be wrong but I really can't see a substantial rerating for the leases. Buy the rumour sell the fact.

2. While prospects may well be excellent, the Uranium boom is over to the extent that RSL will not be the next BMN or PDN as a few are suggesting. RSL is too far behind the curve to hit the market at peak time. PDN and BMN weren't. When PDN was a 2c stock, the U price was $8/lb. By 2013 and beyond there will be an absolutely massive influx of Uranium on the world markets.
- Namibia will be full steam ahead - BMN, Extract, Xemplar and Rossing upgrade all coming online by then or earlier. An unbelievable amount of Uranium here.
- Olympic Dam expansion possible by then
- Cigar Lake up and running.
- Numerous other smaller deposits coming online.
By the time RSL gets to market any U it might end up mining the boom will be past. Sure world demand will increase significantly but it will be dwarfed by the production coming onstream. Now until 2013 is where the big money will be made.