my valuation, page-7

Simmo,

I agree that the value will be much higher than my conservative estimate. I am just responding to the usual sneers one gets before something becomes a reality. I am trying to show the people without vision and imagination that there is a real and verifiable basis to the figures.

The problem we have is that the resource is so freaking unbelievable that no one can see anyone in the world who can pay the fair price. When they can't see anyone who can pay the fair price they assume that we will have to sell at greatly reduced prices.

I think this is the resrictive mind set that keeps people as salary slaves their whole lives.

There are innumerable possibilities.

We can sell parts the resource and retain others, consortiums can be formed between some of the big boys, JV's can be formed etc. We can learn to speak Chinese.

There is no need to sell cheap.

It's not hard to calculate market value of the resource, it's just hard to come to grips with how amazing it is.

I'm quite happy to pursue any path(s) and I know the ones which do not offer immediate gratification will compensate with much more wealth over time.

For example, a JV would allow us to benefit from future U price rises, allow us to benefit from further discoveries in our leases etc. A takeover gives us none of those (unless it is a scrip takeover).

The resource should provide 30-50 years of production. What sort of wealth will be generated over those decades especially as the number of U plants increases dramatically over the next 20-30 years?

I said once that a JV or our own production facility would yield 30 to 40 times as much wealth as a simple takeover and I still believe that (although I am not adjusting for inflation).

I also believe that the share price would quickly catch up to whatever the takeover price would have been, maybe as quickly as within two or three years.

Why the hell would you sell for around $2????