high grade uranium resource, page-4

found the following report on the cost per pound to mine uranium (similar style mine open cut) ....
A research report by Orion Securities in Toronto, which participated in raising money for Forsys, suggested the all-in cost to mine the company's Valencia project could come in under $25/pound and would have an IIR of 30 percent after tax. Early estimates show the Valencia project might annually produce 2.5 million pounds of U308 over ten years. This was sufficient to interest the fuel broker for a major U.S. utility. Felker said, ''We've started the process of marketing our uranium after the utility sent a consulting geologist to study the property.'' Due diligence was done on site in Namibia. Felker explained his company's Valencia project is about 30 months away from where Paladin's Langer Heinrich is today.

Take away $25.00 per pound off the $115.00 sale price per lb. say reduce profit by a quarter, reduce value per value by 1/4 = $4.25 per share "out of the ground" value.

This looks like we may be in for a sure rise from the price of today at .57 cents. I have a further buy in sitting at .55 cents, will I be "one of fortune's favourite".