still waiting., page-8

Hi Clyde.

I've been eyeing this one all year and should've bought under 2c but the pulse of the business alwayus seemed to be and the SP kept on dropping. What attracted me to it was the Uranium at first but after looking at their Vanadium again in the last couple of weeks, I've finally concluded that their EPV is crazily low IMO.

I've been surprised YRR hasn't really picked up in value since around early September this year but it's really been put to sleep and it's one of the last few of it's ilk that hasn't bounced back up to where it should be so it presents some real value IMO.

Of course the buiness plan needs to ramp up again - seems non-existent in 09/10. Anwyay, the asset value is IMO many multiples of current prices and the Board will need to unlock them at some point. The SP performance has been pretty discgraceful due to from what I can make out, the Board sitting on their hands - maybe the duck is furiously paddling under water atm?

Just have to wait it out and in the mean time, I might snaffle some more as I cannot see it going to much lower in the short term. Hopefully long termers will eventually get their money back and more.