get ready to push the moderate button..what do i know? I know...

get ready to push the moderate button..

what do i know? I know not to throw unsubstantiated, ill considered, low brow opinions about lest i look like a fool...

below is a post i made in sept suggesting a base in FTE close to the lows. I've never seen any attempt from you to put some science into your deramps.

Times have changed from Sept. REE now has to be factored into the below scenario, and it wont be a negative factor. We also have a chunk of drill data in the holding bay which is pointing towards a significant discovery at 238.

the outlook for small explorers can change overnight, and obviously have in this instance, with a solid re rating from the market.

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Just looking at Firawa alone,17.7mt @ 300ppm = 12mlbs U.

Value per tonne of ore
one tonne of ore @ 300ppm produces ~0.5lbs of Uranium (75% recovery) which equates to 0.625lb U308. At current spot price($48lb)= $30pt revenue pt.

Opex (very rough and dirty)
The project area is on the side of a hill, positive relief of the hill and dip of mineralisation = low strip ratio ~1.1. Easy little resouce to mine, i'm told. This supports a degree of confidence in hitting a lower opex target.

All industry participants aim for <$30lb U308 LOM. Brad George has stated a target of $25lb U308 and PDN currently produces at around that level (higher strip ratio ~1.6:1). So in this example that equates to Opex of $15.60pt.

BMN scoping was at $40lb with a strip ratio of 3.5:1 FYI.

CAPEX
very rough guess for heap leach $30-50m.

Summary value- Gross free cash over a 5 year mine life is ~$250m. Knock out the CAPEX$50m up front and assume $40m pa free cash; NPV 5 years at 10% disc is approx $150m.

580m shares on issue = 26c fully priced, but risk this by 70% = 7.7c......

You can follow my logic and judge for yourself whether i'm being conservative/optimistic.