termination of share placement , page-155

Vintage,
I agree with almost everything you state. I too question how other longtermers do not see an issue here. However, your last paragraph I question.

You state: "It is far more likely that Gus' change of tactics was just coincidental with the Nucore deal and more to do with the DFS finalisation debacle."

I suppose my question there is:

- What happened to a Karoo update?
- Why the 'imminent' comment?
- The pipe quotes?
- Why change your Modus Operandi, i.e. Constant shareholder communication to now very little?

Anyways, as I stated yesterday, I fired off an email to UR-Energy and Nucore PRIOR to the PEN announcment. I did state in my questions thst I was a shareholder in UR-Energy. I sent it to their PR guy, also named Rich and received the reply from the CEO. Here is a copy from UR-Energy:

My question:

Subject: Nucore Strategc Marketing Agreement
Message: Dear Rich,
I have just read the latest announcment dated 25 Oct 2011, regarding the "Strategic Marketing Agreement" with Nucore Energy, LLC.
On June 23 this year, Nucore entered into an agreement with another prospective Wyoming ISR mining company in Crook County, Wyoming. That company being Peninsula Energy (also known as Strata Mining). Their agreement being, post DFS for their Lance projects, a $15 million share placement which also included an appointment of Jim Cornell to the board of directors of Peninsula Energy. His role being Director - Sales and Marketing.

My questions to you are:
a. Do you see this as a Conflict of Interest, Jim being in a sales and marketing role for both UR-Energy and Peninsula Energy?
b. How will the shareholders be confident we will receive the best possible sales outcomes in this senario?

Yours Faithfully,
XXXXXXX

And reply:

Thank you for your support of Ur-Energy. Your knowledge and recollection of events in the Uranium spaced is obviously very good.

I want to reassure you that we were fully aware of the planned arrangements between Mr. Cornell and Peninsula and that your understanding of their proposed relationship is accurate. However, that relationship (the investment and appointment) was predicated on the completion of a feasibility study by Strata on their Lance project. That study has not been issued and the relationship has not been formalized. Prior to entering into this arrangement between NuCore and Ur-Energy, Mr. Cornell has informed Peninsula of his termination of the arrangement with them. Consequently, there is no potential conflict of interest and Mr. Cornell is fully committed to advancing the best interests of Ur-Energy exclusively.

Sincerely,

Wayne Heili
President and CEO, UR-Energy

Make of it what you will