value comparison, page-28

I called it before, Cameco are gonna buy Uranerz and Pen, or Uranium One, I'm not fussy ;)

Anyway enough with the daydreaming and back to reality, I admit I as well didn't really factor in the on going exploration costs, but I also agree with vintage in that I can't be sure that they are going to be blowing 3 mil a quarter on drilling once they have the production wells online.

It's a bit hard without a detailed breakdown of the drilling cost and program, but lately I think they've been focusing on more delineating the resource area which would require a lot of holes and also looking through the exploration budget the last few quarters they've been drilling ~300 holes for around 3mil, while in 2009 they only drilled 25 holes for 300k, of course once again this is listed as "exploration and evaluation", so it's hard to see where the money is going and why, and also I'm not sure of the plan and timeline for Karoo, maybe some questions for the AGM?

Also thinking about it, is this a bad thing? Fingers crossed we get into production, it could be a good idea to keep the ball rolling? Production online, full potential of Lance, and then start bringing Karoo into the picture all along with an increase in U price, I'm not asking much.