Ann: Quarterly Activities Report and Appendix 5B, page-4

Zubana, I happen to agree with you. There's actually substantial investment in the Mauritania mining and energy sector (at least as a percentage of their economy). What I should have made clear was that theres some perception issues to deal with:

1. that the market is ambivalent about Mauritania as a Uranium play - still perhaps lacking a positive sentiment
2. a broader perception of Africa as a greater sovereign risk for capital projects

I'd suggest an AIM listing is the right play for AEE. At the right time, I'm sure the economics of mining U in Mauritania will be marketed well. Right now, I think we're dealing with an intangible - maybe a lack of "belief"; it's a significant but not unassailable hurdle for any minnow. There will surely be significant interest in Tiris already, but perhaps more "wait and see" bystanders for now.