52 months low- 52 weeks high, page-12

BR,
You stated:
"With the Chinese Government looking over Sinosteel's shoulder they might be inclined to get the uranium out at a profitless cost, which could result in no benefits to us the shareholders."

no offense, juat wanna share some opnion of mine. Sinoteel as part of the chinese government is here to do profitable business as well as stockpilling fulfillment imo. If the chinese would extract the U in profitless cost, then final BFS study would proceed regardless the U price anyway and should not been held back last year due to the lack of price support. i'm not a great believer of chinese conspiracy but i'm persuaded that china is on track to become the world biggest capitalist who has quite some priority in making money. (also, the 5 mil dollars they contribute for the current working capital shown Sino is determine to prgress on the JV and not procastinate IMO)

PNN may have the veto right to ensure the uranium to be extracted in the right price, but the ultimate finacial back-up and majority interest of the JV is the Chinese and not PNN. We are the hitch rider and not the main driver. In short, the recent run of the SP is not just with PNN but nearly all the uranium stocks, the diff here are just PNN seems gain bit of advantages by having Indicated JORC as well as free beers from the JV. The market should have that factored in the SP soon when the uranium reserve in Croker Well get upgraded.

Above are all the known and would be reflected in the SP soon as drilling results will start to flow soon, but perhaps what exicited me is the unknown of South America/Argentina project and acquisition. Have tried to get some info but they hold tight to their lips.


In case you feel the JV risk with the chinese, email them to clarify their position and see whther Sino is prepare to dig out the uranium of profitless cost.

WeiWei Chen - [email protected]

I can't reveal what i've knwon coz i had been moderated once for displaying the conversation of company's director!


Cheers and Happy Trading