Ann: Drilling Recommences and RC Assays due Shortly at Finniss, page-158

Brumby I never bought into CXO this last year at 5c for the Uranium, I thought its carrying value was near zero and still is valued by the market as such . So a major re-rate upgrade is expected now.

I am soooo glad now CXO didnt sell it ......but if we wanted we probably could for $50m at least if not more if Uranium price gets back to LT average of $40pd even higher (and $80pd if there is shortfall in global supply, the Uranoum deposit is worth over $100m conservatively)

Clearly Uzbek wants the U price to rise. Oil doubled on Production cuts so I expect Uranium to hit $40pd this quarter...relatively easily.

I would say we we could sell down some ownership and raise cash without having to go- to- market. Great news lost on the market.

Worth an additional 8c to the SP at least right now, given BMN and PDN and ERA mkt cap write backs.

16c before Zola drilled would be niice...

GG