takeover, page-16

Hello everybody,

Sorry for not posting regularly in the last weeks,but i have to be really busy in my job nowadays,hard times...

Anyway,a real good discussion took place here.
Agree with Bitzer,most important is some respect for everybody elses opinions,which clearly is the case here,so a joy to read :-)

Here is my contribution to the whole story:

1.While midlifecrisis certainly has good reasons to be a little bit "more careful" lets not forget some points about high and low grade.
High grade projects often have problems uniquely true for themselves and especially Cigar Lake is a never-ending sad story for its owners (AREVA and Cameco mainly) which i am following closely.
So IMO the sentence "grade is king" needs some adjustments.

Furthermore most "highgrade projects" are in Canada,which leads to special problems which are unique to democratic countries (environmental protests,bureaucratic delayments,public opinion,and many more...-these points are handled quite differently in Namibia ! (Dont forget uranium is becoming an ever more important resource this country:
Extract,Deep Yellow,Rio Tinto,...)

2.I think it is wrong from us PIs to assume that such major players in the uranium market as AREVA would do significant mistakes in acquiring large projects like Trekkopje.
While they definitely paid an ambitious price ( at the peak of the uranium boom, i clearly believe that these guys know a way lot more about uranium than we do ( and i do know many of the posters here (including me) spend a lot of time into extensive research,but nevertheless we will never know as much of the details as some "full-time-professionals" at AREVA or similar companies,so i dont think one of (if not) the major player in the uranium business,has wasted money on URAMIN (=Trekkopje)
To my knowledge the Chinese paid 2.5 Bio USD for 50 % of the uranium output from Trekkopje, which is exactly the price ARVEVA paid for the whole project,so not at all a bad deal for the French guys !
(Cant find the link right now,but i am sure that was published in an article)

3.Finally coming to Marenica:

IMO AREVAs front crew knew exactly what they did with URAMIN and they now exactly know how to handle MARENICA,which probably is quite contrary to our interests (they want this project as cheaply as possible)
With the current market situation for uranium companies they dont have any pressure to accelerate anything (especially T/O)
IMO they will wait for the scoping study to be released.

So if MEY is able to come up with a number below 30 USD/lbs,success here is a given fact (IMO)

But lets wait and see,just a few more months of patience is required,i am prepared to wait...

Regards

Wantedman