crude comparison

A crude comparison of three ISR projects which although no DFS has been done on two of them I expect would have similar operating costs.
Before someone suggests Inferred material should not be used consider that AGS has less than half its resource jorc-ed above inferred and also that recently a Canadian Junior with around (from memory ) 45mlbs inferred and 20mlbs M&I was taken over for more than 600 million USD

AGS
Measured Indicated and Inferred
17.75 mlbs (25% equity in 71mlbs)
MC circa 150

PEN
Measured Indicated and Inferred
41.4 mlbs
MC circa 170m

URZ
Measured Indicated and Inferred
19 mlbs
MC circa 208m

If I was in the market for a uranium mine and choosing between URZ and PEN I would sooner buy PEN for 400 million than URZ for 208 million.
That is before I even consider that there is little synergy between many of URZs properties.