anyone buying at less than $3.90, page-21

what might the u be worth if alf is right? If Alf is right about his USD 100 / lb inside time window for our new U production, then Malcolm's 4 mill lb pa could prob be worth

4 x (100 -10) / 0.77 x 0.7 / 115 = AUD 2.84 ps net pa

Assumes USD 10 / lb opex, today's AUD exchange, 30% tax, no more shares issued (likely) and remembering we have the capex for new U-plant.

Mt Fitch might well expose 3-5 year's worth entree at Mal's rate and alone immediately justify a production fast track start, ahead of subsequent banquet adding likely multiples in tonnage and grade.

Likelihood we will have the capex funds in the kitty waiting for the U plant means no BFS time wasting ..... internal decision would be quick subject to regulatory approvals etc.

I think recent reports indicate Mt Fitch is only a few holes short of being JORCed so reckon we might be jumping into EIS start pretty soon. And cant see many real sensitivities to hinder approval ..... though no doubt it will become an acid test for the FED's and U-industry's resolve for the new initiative.

Methinks ALP meets next April to discuss the national U policy in caucus and there might be significant challenges between FEDs and States over this ....... whilst the NT meanwhile avoids, being under FED jurisdiction on U.

Re the Greens, might be a case of Custer at the Finniss to add a bit more spice to the natural mellow. Nevertheless, one would hope commonsense and co-operation should prevail given the nobility of this global cause.

But can u imagine say, 10 year's worth at PE 10 on above kinda figures coincident with the sulphides evolution inside the time window of accute demand? Would take us straight to the Golden Fleece u might think(?). PDN aint producing yet but are already capped at 2 bill + for their project in mau mau land.

PS

ORM Holy Grail = 1331 (1.5 bill)

Golden Fleece = 3640 (4 bill)

..... as personally visioned thru that good ol' cosmic smoke haha. Hoping for no more shares issued or any spin-offs unless producing. Love to ride the mothership intact to the outer reaches of unchartered space.

IMBOOC