an interesting story on u, page-2

Cant believe days have passed by WITHOUT a single post on CMR. Must be due a quantum leap then to catch all napping haha.

OK then, better say a few words for fear u may think Im concentrating on other emerging Olympians whilst waiting for our Jungle King to come out of his nap ahead of coming festivities.

Simply .......

CMR is on a round PER 10 on likely earnings from Oxides starter project on schedule to fire up around June/July.

The REST is effectively going for FREE, considering the Oxides resource base, IFFF it was the company's sole priority and asset, could quickly be expanded beyond the current 10 or so year base.

BUT as its named, the Oxides is only a STARTER project and by about year 3 or so, will probably be assimilated as part of the REAL global size base metals producer Omegas Browns will support, all 2.4+ km of its apparently mineable strike.

But WHAT is going to keep Olympians in daily Dionysian revelry in the meantime? Well apart from what has to be the most intensive and potentially rewarding exploration program of ANY ASX company ongoing, we have a URANIUM arm to develop and no doubt spin-off at the OPTIMUM time, and IMO, well before Omegas Browns is due for its own start-up.

Mt Fitch scoping study is complete and even at its own base case lower grade start, indeed justifies a solo 2 mill tpa production rate to produce a likely starter 2 mill lbs pa yellowcake. Given project status and favourable politics, methinks we could be in production mode in 2008/09 fin year. During that time though, expanding exploration success should upgrade both the size and average grade of the U-inventory so that the initial 2 mill tpa plant could be churning out much more than a nominal 2 mill lb pa in quick time.

One other thing we need to consider is that the Oxides plant itself becomes somewhat redundant for base /specialty metals once the MUCH LARGER and HNC sole-funded sulphides plant comes into play. BUT Oxides plant is another 1.3 mill tpa potential URANIUM Plant increment later with minor conversion. So yeah, we may indeed have Juk's 3+ mill tpa U plant by 2009, the year of my personal seer's quantum expectation for next major Olympian quantum wealth creation.

In the worse case scenario, we will IMO have a Langer Heinrich equivalent grade feed but at likely lower opex, not that opex is going to figure much the way U-price is heading over next 5 years. But what is more likely is that U-grades emerging from the Jungle smorgasboard are likely to be significantly HIGHER and hence the corporate goal of 5 mill lbs pa from a 100 mill lbs resource base aint dreamtime bros .... IMOOC.

So whilst we wait for the necessary grind for the SULPHIDES base case 4 mill tpa, which in itself is a bit understated methinks, but which alone should justify a 3 billion buck market cap increment based SPOT prices, we should also expect to see evolution of a MAJOR Uranium producer also alone justifying a similar market cap to base metals if POU is indeed headed in upward trajectory over next 5 years.

But I for one would expect and demand a separate U-producer in-specie spin-off to CMR Olympians so that we could indeed see the Golden Fleece as sum of parts reward to herald in the new decade of increasing wealth creation. And this may be soon enough once Mt Fitch moves into development mode. Of course purists would further expect and demand such a U-child to be listed where average PEs of 40 are the norm instead of Oz's av PE 10 ...... and feel sure THAT thought is not lost on our Olympian leaders with constant reminding. But first things first.

All is based on my expectation that dear old Kondratieff is indeed an Olympian and his call of a once in 3-generational secular resources supercycle is indeed real ....... in which case even the Golden Fleece will look like entrees to whats further ahead.

So just a little wake-up call for them who may think that current and PALTRY 700 mill market cap is "IT" for the Jungle King. The fifth marker buoy is only an extended R+R pause IMO and some Olympians may have joined me in neighbouring "free call options" on uranium and precious metals to pass the time as the King naps ahead of his next quantum move toward the FIRST BILL target. Though must say, some of those "neighbours" are starting to stand up proudly themselves and may soon provide a convoy for our Ark amidst the increasing stormwaves haha.

IMOOC, now is certainly the time for broader sector rotation into cash and emerging resources Olympians as the USS Greenback flounders amidst iceberges closing in.

But all this is personal expectation and implementation of personal strategies based the dangers and opportunities presented by the GORM. Remember that the Chinese word for "crisis" is actually made up of two characters, those for "danger" and "opportunity".

Zeus be praised and thanked for keeping us on a true and safe course.

IMBOOC

PS No ouzo here Gamias, but even the rubbing alcohol is appreciated on cold nites haha.

Have only had ONE dark day when the sun didnt appear in partly clear sunny days Straight. I am told Zeus must be with me haha. Cold and windy when the sun sets tho.