quarterly out, page-13

Hi Folks

Archer good brief overview.

Uran have improved their announcements re more detail...BUT....its the relevance and quality of that detail that has me a little concerned.

Ukraine and Pribram the 2 REAL projects (Rozna is too but that isnt as clear anymore) with $$ potential in the next 12 months have been given convenient medium term timeframes....'again'

Pribram:
"Permitting for the trial mining is likely to take 6
months to conclude"

This is deliberately vague and misleading. NO QUESTION about that.
6 months from 'when'??? Has the process actually 'started' in seeking that approval?
Lets remember that Pribram was mentioned as a first half 2008 project.
It still could be of course. But with 3.9 million in the bank we are fast running out of $$$$.
The Czech appeals will see to that.
Archer as you say, an SPP is not what we want.

Just what is Uran doing? They are delaying the inevitable by 'waiting' to conclude results. This project was started 6 months ago!
Its easy to criticise when you are not having to make decisions.
BUT...and its a big one..

Uran KNOW Pribram is the big PR play. They KNOW it currently is (gravel business) PROFITABLE. They already KNOW that 'early ' results are ENCOURAGING.
Make a decision Uran...
This should have been a no brainer and a great PR exercise that would have probably seen Uran at worst break even and get the outcome they wanted re public perception and get them working.
6 months ago they should have said we are doing it. I know that might appear to be reckless to some but the last 18 months have been reckless and we need a tangible project to hang our coats...AND valuation on.

We now run the risk of being out of $$$ with no acquisitions in a market entirely skeptical of uranium hopefuls.
I dont doubt for one minute that Uran can't get the $$$$, what I do doubt is the markets appraisal/valuation of that.

In simple terms that concerns me re the share price.

We need Ukraine projects sooner rather than later. 'Once again' we get an explanation stating that the rules have changed and now 'another' body is being created.
I am not blaming Kate Hobbs/Uran for this. I'm saying we are being stuffed around and its costing us dearly re existing $$$ in the bank, continued share price pressure, and a market becoming less enamoured with uranium by the day.

I am a big believer in the uranium $$ out there, but the field is narrowing.

On the ASX we are seeing ERA/PDN/BMN/AGS/EXT as the most likely to endure.
The DYL's and BLR's may be okay too.

Uran is still the stand out left of field play..still..

All this talk of uranium being in over supply is an about turn.
Uran if successful will be selling to the Ukraine.
If successful in Czech they will be the incumbent and be secure there as well. The markets will be there for Uran imo.

The time is fast approaching where shareholders need to act and be proactive re the companies direction. If this proactivity can influence current management then thats great.
Current management however, imo, have not been proactive enough.
Yes they are really going for it in Czech and should be commended for that. Excellent groundwork there re 'applications'
But what of the 'next stage' negotiations with Pribram and Rozna.
We have fallen short there, and lets not lose sight of the fact that it is 'those projects' that promise Uran short term $$$$$.
The bigger picture is fine (but will it lead to anything in the next 3 years?) and its great to secure applications. But we need an underlying 'business'
To simply go to market when $$$ are short or call in a 'sophisticated investor' will further dilute and impact 'current' shareholders.
With 3.9 million it will happen...unless a project is secured and debt funded.

Uran has had near 2 years to secure 'something'. Its still hasnt and thats hurting us.

Unlike the old science adage, dilution is NOT the solution.