what the chinese are willing to pay for u

This is about a deal, which happened 10 days ago.

Some Chinese company bought a stake in a Niger uranium mine:

http://www.cs.com.cn/english/com/201001/t20100128_2330862.htm

Depending on the kind of tonnes you use for the calculation (metric,US long tonnes,or UK short tonnes-i will never understand why the anglosaxon world loves to make their conversion calcs so copmlicated...) you reach 5.7-6.3 USD/lbs.

Now this is good news for Marenica,as it shows where the market currently values uranium in case of a take-over.

So just some days before our resource upgrade (I am not so sure we will see it this week,maybe we have to wait another week?) do the maths with our 38.6 Mlbs and 6 USD...

...leading to 213 Mio AUD (our 80 % stake in the project) compared to a market cap of 63 Mio AUD.

Now after the resource upgrade,we will have to do the maths again ;-)