where is the bottom, page-8

Hi there, pls excuse this post if someone has already done this exercise. How do the reserves of BMN compare with EXT and PDN?

Given the proximity to EXT at Rossing, and PDN operations, isn't it likely that BMN will now focus on trying to prove up richer measured reserves?

OK the capex and opex looks ordinary to some, but wouldn't BMN be better served to convert indicated to measured reserves to improve the average grade?

Then SP might improve enough to support a stronger cap raising on fewer issues that will be needed for future funding? i.e. the short term uncertainty solved by better drill results. This is the path EXT have taken.

Otherwise the future might be a bit bleak for BMN. Both PDN and EXT are suffering in a weaker uranium market presently - why should BMN be any different?

Perhaps cap raising should/would be delayed until things improve via the above? As for where the bottom is, I hope it's not below 95 cents.

What are the chances of BMN improving ore grades substantially?

rgds,
pw