capex and opex_benefits of isr and lance, page-71

I don't think thats right. V

The way I read it, it still hasn't changed from 1.5ml lbs/year(which still by any means is a hell of alot of profit for 10 years or more). Yes the facility size has changed in design for it to be able to churn out up to 3ml lbs/year, but Imo that will come in later years as they continue to prove up the rest of Lance. Maybe I'm wrong, maybe the fact that the millidarcy's being commonly over 2000 could be a reason for the design change(as more liquid can be pushed through, which inturn brings up more uranium)

But one of the only things that I am focussing on atm, is 10-20ml lbs at Ross and Barber. Imo thats the figures that I will be more than happy with, because as we all know thats more than enough for them to become a very profitable uranium company for Ten years or more, provided everything else runs relatively hiccup free, which it is looking very encouraging at this stage from what announcements have been announced and from my own conversations with Gus.

Sure Ross and Barber may well suprise us all in size, but as we all know the market is starting to look at these uranium projects in more detail now(GOOD, FINALLY). BMN and PNN are good examples of its not just pounds in the ground that matter, the project has to stack up. This is where Imo Pen will really start to get appreciated.

If they do prove up more than 10-20, then Imo what will happen is the project life at R and B will be extended well and truly past 10 years, Execellent. But at the end of the day, its not on the important list for me.

I think we are going to start seeing alot of uranium companies fall by the way side(victims of conventional mining), as their projects are just not viable in these conditions. Bad for them, Good for Pen.


LOW START COSTS, (this is Pens trump card Imo)

NK