261mlbs JORC here in mining friendly Botswana....
10th largest undeveloped u308 mine worldwide
2. Potential 50 yr mine iife at 5mlbs of u308
3. Shallow with low capex and low opex
4. Existing infrastructure yada yada yada
5. Supply demand shortfall 2013
Notably its the offer on BMN that has really got my attention...
I highly rate BMN and naturally Hanlong bid on their project for good reason...
I also consider the 61.2 cent offer by Hanlong for BMN as oppotunisitic and a very low ball offer...
However this is a geniune offer and therefore gives us a postion from which to gauge the potential lower end value of ACB...
A comparaitve offer on ACB has to be North of $1.61 imo on the basis of the much lower capex....
Remembering that Han Long are buying BMN's 200plus mlbs U308 out of the ground for 61.2 cents per share plus 550million capex plus opex...
All up Hanlongs offer on BMN sees them spending up around 700million dollars plus opex for over 200mlbs U308 out of the ground...
Do the same numbers for ACB with Capex costs down under 350 million... This is a no brainer...
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acb has a brilliant resource, page-59
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