egm, page-3

the goss Got back last nite and hit the sack 4 am so still trying to wear off the effects of a 4 day party. Sorry to be so slack but so good to see u guys reporting so well.

What can I say that I havent said before . Well probably heaps more but it will come out later, not now, head's still spinning. Reckon I will burn the cosmic smoke again first and see if I can conjure up a grand vision based the goss I heard on this trip.

Nice to see the boys are open minded about our U-evolution. Thats the ONLY thing which I will really focus on from here personally, cos the rest is already in its own auto-evolution channel now and only needs TIME.

Even GT declared PATIENCE will be handsomely rewarded. That kinda implies to me around a buck a share divvies from the oxides + uranium combo in time for my fortune-teller's target date with destiny circa 2009( (?). Thats assuming only a starter U project plus our half share of oxides at CURRENT spot I guess. Leave the resource / production rate / price speculation for later.

And even our grey-haired Jungle senators like Harold and his thunderstick mate could live with that ....... hope they live in good health to a hundred to enjoy reward for their staunch support and patience. Heard Harold was on Malcolm's Esso Exploration team which walked the original ground in the Rum Jungle Uranium Field, enCompassed by the the Rum Jungle Mineral field, so they have every right to push the boys for their greater expectations.

Great to see such staunch Olympians present .... Wiza and Gamias with their imposing presence scrutinising our leaders whilst keeping a watchful eye for any undesirable coverts .... only your armour and nuke tipped spears were missing guys. Love yas !

Westmoon, pleased to have met you .... I noted your exemplary reporting skills and pleased re yr accurate summary. Takes some heat off me ta .... and I do need the R & R. Pete and other brothers too.

And Hots, u r really starting to stir now ....along with the LEAD price haha. Welcome home. Getting a bit of "yellow fever" lately too I note. Yr place in this Ark's boiler room is most welcomed. U will have to come down to Melbourne to meet the tireless boiler stokers one day. Were u at the egm?

That was Alf Field's hand u shook at the end Westmoon. For them who aint acqauinted, Alf is our "free call option on U" Olympian mega-guru and a staunch supporter since the 12 year downtrend reversal days. He was also part of the think tank behind Afflease's evolution into SX Uranium One ....... btw they spiked 36% on recent Cameco news.

Alf believes Cameco's woes at Cigar Lake are likely to prove irreversible and the consequences in the U market are only beginning to be felt ..... full expansion of Cigar Lake was going to provide around 15% of world supply wasnt it? He wasnt aware of the Namibian Mineworkers Union strike at Rossing tho (announced Friday ... u know the song, "what about me?") ....... and they too are essential to world U supply. Wasnt ERA supposed to get some cake on loan from Rossing to meet its own deficiencies?

Alf also thinks we are witnessing the evolution of the most mega of mega resources booms, still in its infancy, driven by demand / supply imbalances caused by insatiable consumer demand from the East over next two decades. GT seems to share that vision as well.

Cuzo, was that you and the missus I chatted with at the end? ....... Sorry mate, I didnt realise until reading HC now. You were there at the AGM as well weren't you.

Anyway, great turnout, basically unanimous yeahs throughout from them who attended ....... seemed a VERY happy lot to me ......... and lotsa GODD body language from our expanding team of Olympian leaders.

Btw, I noted that plunge to 410 from prev 445 sale on Monday ...... alos noted it was a sinke 10$K or so transaction, but TOO late to spot whether a crossing or not. Suspect it may have been cos no-one does something that stupid without a personal motive. All I can say, is careful u dont get caught short on the next quantum leap.

Meanwhile let the daytraders trade. U -stox have moved up by about a THIRD on news of Cameco's and RIO's supply problems, yet the next likely major U-producer in Oz has been once again bypassed by the local media who cant grasp the fact we are probably 5 emerging companies rolled into one and for which we aren't yet properly valued for one such segment.

Only time will tell hey?

Gotta start picking a few good new ones for abit of action whilst remaining patient for the emergence of the Jungle King to his rightful place. As GT reminded us, our assets ARE IN OZ and we aint far away from the next step into the ASX 200. Hey ....... did u hear that bros ? U know I aint hearing things, u were there haha.

Back to biz to clean my desk after the partying.

(Oh, heard some goss GT will throw the 10 buck party at his place in mayfair haha. Might invite the Queen ??? :):):)

As always , ANYTHING I say in here is in my biased opinion of course and all I'm doing is sharing my thought process with them who wish to debate. And without Zeus's divine guidance, no way Jose ........ praise Zeus (without apology) !

PS Simple Olympian Maths ....... 1 buck a share base case earnings from U x TSX av PER 28 = 28 bucks. Add Oxides fair value and thats the Golden Fleece. 2009 should be a VINTAGE year. Lets keep the sulphides megaproject outa vision for now cos I still need to get my mind around it as to which is optimum MO for best NPV for us. Later.

IMBOOC