agm report

Hello holders,

Well I was one of 5 shareholders that bothered to attend the AGM on Thursday, not quite the frenzy of the AGM AGM.

The CEO gave a short presentation on the Munali project as well as the exploration program.
The Munali project is fully funded, proceeding on time and on budget, with a six month payback period from when fully operational in about 13 months time.

The company and JV partners including BHP and Zinifex are also going to spend up to US$14m on exploration and drilling during the next year.

I therefore cannot see why this coy has half the Market cap compared with MBN who have atleast another year before production. The Toronto listing has certainly given the MBN share price a boost. I think ALB will be a very quiet achiever until the the $$ roll-in, so will be accumulating some more.

I also learned something interesting that you U experts probably already know, and that is the Chinese do not want to buy U from the US and US aligned countries, and are therefore looking to African sources. This is a big plus for ALB and their U exploration JVs with AFR.


RM