don't look back, page-30

Beerbaron her it is:

Investment Perspective: After an impressive six month period when EXT was the star
performing uranium stock, it has started to back peddle for a while. There have been a number
of teasingly interesting announcements but the market is now looking for something more
substantial to get its teeth into. We already have the scoping study. We now need the resource
statement to back this up. Typically we have seen the first resource statement for most
companies disappoint the market and shares come off in price. This is because an official
release, according to the JORC Code, is always more conservative than the road show
promotion as it takes time to completely drill out a project. EXT may find itself in this
predicament. Nevertheless, the longer term outlook is very favourable.
The news flow has been all about the prospectivity of Rossing South in Namibia with releases
talking of similar grades to the Rossing mine. In addition, there have been better results from a
large high-grade alaskite dyke swarm under alluvial cover. Some of the better intercepts have
been 32.7m at 866 ppm, 13.6m at 1,773 ppm, 113m at 486 ppm (including 50.3m at 856 ppm)
and 135 ppm at 260 ppm. EXT has now drilled five lines testing 6.2 km of the 15 km target
zone. Two particular locations have demonstrated higher grades. Each zone covers 1,200m of
strike which has been tested to a depth of 275-290m on 400m line spacing.
Back in October 2007, EXT emphasised the production potential of its Ida Dome alaskite
project with the release of a scoping study which assessed the numbers for a 6 mtpa operation
with a head grade of 260 ppm, producing 1,300 tpa U3O8. This was estimated to cost
US$211m in capital and operating costs were estimated at US$29/lb. The study looked at
mineralisation to a depth of 100m even though it extends much deeper. An acid leach, ion
exchange and solvent extraction process design was assumed. The ability to use radiometric
sorting has also been assumed, which reduces the volume through the mill to 4.7 mtpa, lifting
the head grade to 320 ppm.
Since the release of that study the exploration results have been justifying the early
enthusiasm. The target tonnage of 54-63 mt at 200-300 ppm is starting to look conservative,
particularly with respect to grade. Nevertheless, it will be good to receive a JORC resource
calculation when it arrives.
Our best guess numbers at this point, using the 6 mtpa scale used for the scoping study on the Ida Dome, gives EXT a cash generating power of $102m p.a., placing the shares on a multiple
of 2x. This is quite acceptable, but the story could change significantly when more information
comes out on Rossing South. It is still early.

Hey Simrose,

You are obviously a un-refined individual that is highly emotional about this stock. By the way I won't report you at all, and in future please refrain from replying to my posts, that you have previously said that you would do...