explanation of valuation, page-5

yes, I am pretty certain on the following assumptions;

U spot/lt to rise - megawatts to megatonns to discontinue 2013

Management working on Env issues - establish U mining for 30 years. My only issues is water & power

Political stability is one of the most stable in Africa, think all major U miners/consumers are there exploring

Big corporate holders in the register - Rio, Itochu so far

High grades by Namibia standards and a big Indicated JoRC resource 200+Mil Lb

Would have preferred an aggressive stalker like the Chinese groups with ca$h looking for supply security